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KS Avg Real Estate Commission Rate in Wichita, Kansas

Wichita is the largest city in the U.S. state of Kansas. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area whose estimated population in 2015 was 644,610. As of 2017, the city of Wichita had an estimated population of 391,586.

The city began as a trading post on the Chisholm Trail in the 1860s and was incorporated in 1870. It subsequently became a destination for cattle drives north from Texas to railroads, earning it the nickname "Cowtown". In the 1920s and 1930s, businessmen and aeronautical engineers established aircraft manufacturing companies in Wichita including Beechcraft, Cessna, and Stearman Aircraft. The city transformed into a hub of U.S. aircraft production and became known as "The Air Capital of the World". Textron Aviation, Learjet, Airbus and Spirit AeroSystems continue to operate design and manufacturing facilities in Wichita, and the city remains a major center of the U.S. aircraft industry. Wichita is also home to McConnell Air Force Base.

As an industrial hub and the largest city in the state, Wichita is an area center of culture, media, and trade. It hosts several large museums, theaters, parks, and entertainment venues, notably Intrust Bank Arena. Wichita State University is the third largest in the state. Wichita is also home to the Century II Performing Arts & Convention Center and Kansas's largest airport, Wichita Dwight D. Eisenhower National Airpor

 

Wichita, Kansas Average Real Estate Agent Commission Rate Fees:

A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Wichita, Kansas. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26% *

In Wichita, Kansas, you will find the following real estate commissions charged*:

Typical Asking Commission: 6.0%

Competitive Commission: 5.0%-5.5%%

Very Competitive Commission: 4.5%-4.99%

The median existing single-family home price in the Midwest rose 6.6%, to $204,000, in the second quarter of 2017 compared to the the second quarter of 2016.  Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:

In the State of Kansas, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Kansas City $201,700 6.90%
Topeka $129,700 -0.10%
Wichita $135,900 -1.80%
 
IMPORTANT

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home.  In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent.  Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”.  This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client.  This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

 

AGENTS ARE READY TO BID THEIR COMMISSION RATE TO GET YOUR LISTING

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business.  These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm.  This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Kansas.

 

ARE YOU BUYING IN THE SAME AREA, TOO?

Sellers who are also buying a home in the same local market have a volume discount advantage.  ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home.  Be sure to check the box that you are also buying a home locally to receive these better rates.

 

ARE YOU READY TO RECEIVE COMPETITIVE COMMISSION RATE BIDS?

Click here to see your savings in just 24 hours…

 

DEMOGRAPHICS:

As of the 2010 census, there were 382,368 people, 151,818 households, and 94,862 families residing in the city. The population density was 2,304.8 per square mile (889.9/km²). There were 167,310 housing units at an average density of 1,022.1 per square mile (475.9/km²). The racial makeup of the city was 71.9% White, 11.5% African American, 4.8% Asian, 1.2% American Indian, 0.1% Pacific Islander, 6.2% from other races, and 4.3% from two or more races. Hispanics and Latinos of any race were 15.3% of the population.

Of the 151,818 households, 33.4% had children under the age of 18 living with them, 44.1% were married couples living together, 5.2% had a male householder with no wife present, 13.1% had a female householder with no husband present, and 37.5% were non-families. 31.1% of all households were made up of individuals, and 9.1% had someone living alone who was 65 years of age or older. The average household size was 2.48, and the average family size was 3.14.

The median age in the city was 33.9 years. 26.6% of residents were under the age of 18; 10.1% were between the ages of 18 and 24; 26.9% were from 25 to 44; 24.9% were from 45 to 64; and 11.5% were 65 years of age or older. The gender makeup of the city was 49.3% male and 50.7% female.

The median income for a household in the city was $44,477, and the median income for a family was $57,088. Males had a median income of $42,783 versus $32,155 for females. The per capita income for the city was $24,517. About 12.1% of families and 15.8% of the population were below the poverty line, including 22.5% of those under age 18 and 9.9% of those age 65 or over.

Metropolitan area

Wichita is the principal city of both the Wichita Metropolitan Statistical Area (MSA) and the Wichita-Winfield Combined Statistical Area (CSA). The Wichita MSA encompasses Sedgwick, Butler, Harvey, and Sumner counties and, as of 2010, had a population of 623,061, making it the 84th largest MSA in the United States.

The larger Wichita-Winfield CSA also includes Cowley County and, as of 2013, had an estimated population of 673,598. Nearby Reno County is not a part of the Wichita MSA or Wichita-Winfield CSA, but, were it included, it would add an additional population of 64,511 as of 2010.

 

ECONOMY:

Wichita's principal industrial sector is manufacturing, which accounted for 21.6 percent of area employment in 2003. Aircraft manufacturing has long dominated the local economy, and plays such an important role that it has the ability to influence the economic health of the entire region; the state offers tax breaks and other incentives to aircraft manufacturers.

Healthcare is Wichita's second-largest industry, employing approximately 28,000 people in the local area. Since healthcare needs remain fairly consistent regardless of the economy, this field was not subject to the same pressures that affected other industries in the early 2000s. The Kansas Spine Hospital opened in 2004, as did a critical care tower at Wesley Medical Center. In July 2010, Via Christi Health, which is the largest provider of healthcare services in Kansas, opened a hospital that will serve the northwest area of Wichita. Via Christi Hospital on St. Teresa is the system's fifth hospital to serve the Wichita community.

Thanks to the early 20th-Century oil boom in neighboring Butler County, Kansas, Wichita became a major oil town, with dozens of oil exploration companies and support enterprises. Most famous of these was Koch Industries, today a global natural-resources conglomerate. The city was also at one time the headquarters of the former Derby Oil Company, which was purchased by Coastal Corporation in 1988.

Koch Industries and Cargill, the two largest privately held companies in the United States, both operate headquarters facilities in Wichita. Koch Industries' primary global corporate headquarters is located in a large office-tower complex in northeast Wichita. Cargill Meat Solutions Div., at one time the nation's 3rd-largest beef producer, is headquartered downtown. Other firms with headquarters in Wichita include roller-coaster manufacturer Chance Morgan, gourmet food retailer Dean & Deluca, renewable energy company Alternative Energy Solutions, and Coleman Company, a manufacturer of camping and outdoor recreation supplies. Air Midwest, the nation's first officially certificated "commuter" airline, was founded and headquartered in Wichita and evolved into the nation's 8th largest regional airline prior to its dissolution in 2008.

As of 2013, 68.2% of the population over the age of 16 was in the labor force. 0.6% was in the armed forces, and 67.6% was in the civilian labor force with 61.2% employed and 6.4% unemployed. The occupational composition of the employed civilian labor force was: 33.3% in management, business, science, and arts; 25.1% in sales and office occupations; 17.2% in service occupations; 14.0% in production, transportation, and material moving; 10.4% in natural resources, construction, and maintenance. The three industries employing the largest percentages of the working civilian labor force were: educational services, health care, and social assistance (22.3%); manufacturing (19.2%); and retail trade (11.0%).

The cost of living in Wichita is below average; compared to a U.S. average of 100, the cost of living index for the city is 84.0. As of 2013, the median home value in the city was $117,500, the median selected monthly owner cost was $1,194 for housing units with a mortgage and $419 for those without, and the median gross rent was $690.

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Wichita - Kansas