Louisville is the largest city in the Commonwealth of Kentucky and the 29th-most populous city in the United States. It is one of two cities in Kentucky designated as first-class, the other being the state's second-largest city of Lexington. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County.The Louisville-Jefferson County, KY-IN Metropolitan Statistical Area (MSA), sometimes also referred to as Kentuckiana, includes Louisville-Jefferson County and 12 surrounding counties, seven in Kentucky and five in Southern Indiana. As of 2014, the MSA had a population of 1,269,702, ranking 43rd nationally.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Kentucky. 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 Louisville, Kentucky 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 South rose 6.7%, to $229,400, 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:
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.
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 Kentucky.
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.
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As of the 2010 census, Louisville Metro held a population of 741,096, while the "balance" area of Louisville proper included 597,337. Due to the city-county merger in 2003, the city's population had greatly expanded from the premerger area of Louisville, which held only 245,315 people in 2007.
Louisville is the largest city in Kentucky, with 17.1% of the state's total population as of 2010; the balance's percentage was 13.8%. In 2010, over one-third of the population growth in Kentucky was in Louisville's CSA counties.
The 2007 demographic breakdown for the entire Louisville Metro area was 74.8% White (71.7% non-Hispanic), 22.2% Black, 0.6% American Indian, 2.0% Asian, 0.1% Hawaiian or Pacific islander, 1.4% other, and 1.6% multiracial. About 2.9% of the total population was identified as Hispanic of any race. During the same year, the area of premerger Louisville consisted 60.1% White, 35.2% African American, 1.9% Asian, 0.2% American Indian, and 3.0% other, with 2.4% identified as Hispanic of any race.
Of the 287,012 households, 29.6% had children under the age of 18 living with them, 45.2% were married couples living together, 14.7% had a female householder with no husband present, and 36.2% were not families. About 30.5% of all households were made up of individuals, and 10.3% had someone living alone who was 65 years of age or older. The average household size was 2.37 and the average family size was 2.97.
The age distribution is 24.3% under the age of 18, 8.9% from 18 to 24, 30.4% from 25 to 44, 22.8% from 45 to 64, and 13.5% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 91.60 males. For every 100 females age 18 and over, there were 87.60 males.
The median income for a household is $39,457 and for a family was $49,161. Males had a median income of $36,484 versus $26,255 for females. The per capita income for the county was $22,352. About 9.5% of families and 12.4% of the population were below the poverty line, including 18.1% of those under age 18 and 8.8% of those ages 65 or over.
Louisville today is home to dozens of companies and organizations across several industrial classifications. However, the underpinning of the city's economy since its earliest days has been the shipping and cargo industries. Its strategic location at the Falls of the Ohio, and its unique position in the central United States (within one day's road travel to 60% of the cities in the continental U.S.) make it a practical location for the transfer of cargo along its route to other destinations. The Louisville and Portland Canal and the Louisville and Nashville Railroad were important links in water and rail transportation.
Louisville's importance to the shipping industry continues today with the presence of the Worldport global air-freight hub for UPS at Louisville International Airport. Louisville's location at the crossroads of three major interstate highways (I-64, I-65, and I-71) also contributes to its modern-day strategic importance to the shipping and cargo industry. In addition, the Port of Louisville continues Louisville's river shipping presence at Jefferson Riverport International. As of 2003, Louisville ranks as the seventh-largest inland port in the United States.
From left to right, BB&T Building, 400 West Market, National City Tower, and the Humana headquarters building in downtown Louisville
Louisville has emerged as a major center for the health care and medical sciences industries. It has been central to advancements in heart and hand surgery, as well as cancer treatment. Some of the earliest artificial heart and hand transplants were conducted in Louisville. Its thriving downtown medical research campus includes a new $88 million rehabilitation center and a health sciences research and commercialization park, that in partnership with the University of Louisville, has lured nearly 70 top scientists and researchers. Louisville is also home to Humana, one of the nation's largest health insurance companies.
Louisville is a significant center of manufacturing, with two major Ford plants, and the headquarters and major home appliance factory of GE Appliances (a subsidiary of Haier). The city is also a major center of the American whiskey industry, with about one-third of all bourbon coming from Louisville. Brown-Forman, one of the major makers of American whiskey, is headquartered in Louisville and operates a distillery in the Louisville suburb of Shively. The current primary distillery site operated by Heaven Hill, called the Bernheim distillery, is also located in Louisville near Brown-Forman's distillery. Other distilleries and related businesses can also be found in neighboring cities in Kentucky, such as Bardstown, Clermont, Lawrenceburg, and Loretto. Similar to the Kentucky Bourbon Trail that links these central Kentucky locations, Louisville offers tourists its own "Urban Bourbon Trail",where people can stop at nearly 20 "area bars and restaurants, all offering at least 50 labels of America's only native spirit."
Not typically known for high tech outside of the previously identified industries, the city in the 2010s has been at or near the forefront of some high-tech-related developments. In April 2017, Google Fiber confirmed that Louisville will be wired for its ultrafast network. Meanwhile, since October 2016, AT&T Fiber has been building out its similar service in the city as well as neighboring counties in Indiana.Beyond networking, the city, through its public–private partnership called Code Louisville, recognized by President Barack Obama, is aiding area residents in the learning of software coding skills.
Louisville for a long time was also home to the Belknap Hardware and Manufacturing Company, at its peak one of the largest manufacturers and wholesale distributors of hardware in the United States, as well as Brown & Williamson, the third-largest company in the tobacco industry before merging with R. J. Reynolds in 2004 to form the Reynolds AmericanCompany. Brown & Williamson, one of the subjects of the tobacco industry scandals of the 1990s, was the focus of The Insider, a 1999 film shot around the Louisville area.
Louisville prides itself in its large assortment of small, independent businesses and restaurants, some of which have become known for their ingenuity and creativity. In 1926, the Brown Hotel became the home of the Hot Brown "sandwich". A few blocks away, the Seelbach Hotel, which F. Scott Fitzgerald references in The Great Gatsby, is also famous for a secret back room where Al Capone would regularly meet with associates during the Prohibition era. The drink the Old Fashioned was invented in Louisville's Pendennis Club.
Several major motion pictures have also been filmed in or near Louisville, including The Insider, Goldfinger, Stripes, Lawn Dogs, Elizabethtown, Demolition Man, and Secretariat.