Realtor Commission in Northwest Indiana 2020
Hi, I’m Chuck VanderStelt. I’m a real estate agent in Northwest Indiana with listing leaders and I’m the founder of
Quadwalls.com. I want to take a couple of minutes this morning and discuss realtor commission, specifically realtor commission in Northwest Indiana 2020. The question that we get a lot is what is the average realtor commission.
There is no set rate, we’re not allowed to do that, we’re not allowed to conspire
with each other and say: ‘This is the realtor commission in Northwest Indiana’.
So rates are kind of all over the place. There are some patterns. I’ve been in
enough homes where I’m competing for the business to represent someone as they sell their home. Most common realtor fees in Northwest Indiana are probably somewhere between 5 and 6% but again everybody charges the rate they’re gonna
charge and that rate varies. One of the reasons that rate can vary is the
services that are being provided to you to sell your home. When you’re meeting
with the real estate agent, make sure that you talk about what services
they’re going to provide to earn that commission, whether the homes going to be placed in the MLS, if there’re going to be open houses if they’re going to provide
a professional photography or videography, if they’re going to provide
any professionally printed materials – those types of things.
Signage: how they’re going to do the sign and all those types of things. Also, one
important thing, too, is to not focus just on the commission rate but to also ask
about any extra fees. Lots of real estate agents have an office fee or an
administrative fee or a document fee or some other crazy name fee. Just make sure that you ask are there any other fees that I have to pay for the real estate
agent services. Back to Northwest Indiana and kind of looking forward into 2020
and making a little bit of a prediction like I said seems 5 to 6 percent is the
most common rate range in Northwest Indiana. I think for 2020 that will
continue. It might get pushed closer to 5%, I see that more common.
And I see that for a couple of reasons. First of all, the housing market in
Northwest Indiana is pretty strong now, there’s low inventory, homes are
selling quickly and homes have appreciated 6% in the last year. And
there are a lot of real estate agents in the area. Indiana hasn’t changed any of
its rules on being a real estate agent recently and the local real estate
association hasn’t made any changes either so I look forward to seeing a lot
of real estate agents in the market competing for business next year and
that’ll help keep those real estate commissions low. Hopping back a little
bit to talk about those averages in Quadwalls.com again and what that thing is that I created. Real estate sales in Northwest Indiana were strong in 2018
and, again, in 2019. The average home sale price in 2018 was $192,600 and the average home sale price in 2019 up until now, December, 4,
of 2019 was $203,900 so we’ve seen an increase of over 11,000 dollars, that’s about 6%. So pretty strong there. What Quadwalls.com is we’re a website featuring Northwest Indiana
real estate. There’s information about buying and selling real estate, how
it works. You can get a free home valuation where you answer some questions and we have a real estate
agent take a look at your home and your neighborhood in your area and give you a
really strong idea of what your home’s market value is and we’re offering some
really aggressive rates, at least myself. I am there on Quadwalls.com. One of those rates to use an example is like I said we see a lot of 5 to 6 percent in
Northwest Indiana. If you listed the average home with me in Northwest
Indiana at $203,900, my commission rate comes
out around 3.5%. My commission rate is based on the listing price of your home.
Feel free, hop on Quadwalls.com, learn a little bit more about us. My name
is Chuck VanderStelt, I’m a real estate agent in Northwest Indiana and I work
for listing leaders. One quick note on that again: every real estate agents’
commission rates are unique to them. Make some calls, shop around but
definitely, spend some time on my website. Thanks for watching! Bye.