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MD Avg Real Estate Commission Rate in Baltimore, Columbia, Towson, Maryland

Baltimore was established by the Constitution of Maryland and is an independent city that is not part of any county. With a population of 611,648 in 2017, Baltimore is the largest independent city in the United States. As of 2016, the population of the Baltimore metropolitan area was estimated to be just under 2.8 million, making it the 21st largest metropolitan area in the country. Baltimore is located about 40 miles northeast of Washington, D.C., making it a principal city in the Washington-Baltimore combined statistical area (CSA), the fourth largest CSA in the nation with a calculated 2016 population of 9,665,892.

Founded in 1729, Baltimore is the second-largest seaport in the Mid-Atlantic. The city's Inner Harbor was once the second leading port of entry for immigrants to the United States and a major manufacturing center. After a decline in major manufacturing, industrialization, and rail transportation, Baltimore shifted to a service-oriented economy, with Johns Hopkins Hospital (founded 1889) and Johns Hopkins University (founded 1876), now the city's top two employers.

With hundreds of identified districts, Baltimore has been dubbed a "city of neighborhoods". Famous residents have included writers Edgar Allan Poe, Edith Hamilton, Frederick Douglass, and H. L. Mencken; jazz musician James "Eubie" Blake; singer Billie Holiday; actor and filmmaker John Waters; and baseball player Babe Ruth. In the War of 1812, Francis Scott Key wrote The Star-Spangled Banner, which later became the American national anthem, in Baltimore.

Baltimore has more public statues and monuments per capita than any other city in the country, and is home to some of the earliest National Register Historic Districts in the nation, including Fell's Point, Federal Hill, and Mount Vernon, which were added to the National Register between 1969–1971. Close to a third of the city's buildings (over 65,000) are designated as historic in the National Register, which is more than any other U.S. city.

 

Baltimore, Columbia, Towson, Maryland 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 Baltimore, Columbia, Towson, Maryland. 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 Baltimore, Columbia, Towson, Maryland, 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:

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

Metro Area Median Sales Price % of Annual Change
Baltimore-Columbia-Towson $277,000 4.20%
Cumberland, MD-WV $98,200 3.50%
Hagerstown-Martinsburg, MD-WV $174,700 4.90%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $239,100 3.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV $428,700 5.40%
 
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 Maryland.

 

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:

According to the 2010 Census, there were 620,961 people living in Baltimore City in 242,268 households. The population decreased by 4.6% since the 2000 Census. Among school-age children between 5–17 years old, there was a 23% decline. Baltimore's population has declined at each census since its peak in 1950.

In 2011, then-Mayor Stephanie Rawlings-Blake said her main goal was to increase the city's population by improving city services to reduce the number of people leaving the city and by passing legislation protecting immigrants' rights to stimulate growth. For the first time in decades, in July 2012, the U.S. Census Bureau's census estimate showed the population grew by 1,100 residents, a 0.2% increase from the previous year.

Gentrification has also increased since the 2000 census, primarily in East Baltimore, downtown, and Central Baltimore. Downtown Baltimore and its surrounding neighborhoods are seeing a resurgence of young professionals and immigrants, mirroring major cities across the country.

After New York City, Baltimore was the second city in the United States to reach a population of 100,000. From the 1830 through 1850 U.S. censuses, Baltimore was the second most-populous city, before being surpassed by Philadelphia in 1860. It was among the top 10 cities in population in the United States in every census up to the 1980 census, and after World War II had a population of nearly a million.

Characteristics

 

Population by Race in Baltimore Maryland (2010)
Race Population % of Total
Total 620,961 100
African American 395,781 63
White 183,830 29
Asian 14,548 2
Two or More Races 12,955 2
Other 11,303 1
American Indian 2,270 < 1%
Three or more races 1,402 < 1%
Native Hawaiian Pacific Islander 274 < 1%
Source: 2010 Census via Maryland Department of Planning

 

According to the 2010 Census, Baltimore's population is 63.7% Black, 29.6% White, 2.3% Asian, and 0.4%, American Indian and Alaska Native. Across races, 4.2% of the population are of Hispanic, Latino, or Spanish origin. Females made up 53.4% of the population. The median age was 35 years old, with 22.4% under 18 years old, 65.8% from 18 to 64 years old, and 11.8% 65 or older.

In 2005, approximately 30,778 people (6.5%) identified as gay, lesbian, or bisexual. In 2012, same-sex marriage in Maryland was legalized, going into effect January 1, 2013.

Income and housing

In 2009, the median household income was $42,241 and the median income per capita was $25,707, compared to the national median income of $53,889 per household and $28,930 per capita. In Baltimore, 23.7% of the population lived below the poverty line, compared to 13.5% nationwide.

Housing in Baltimore is relatively inexpensive for large, coastal cities of its size. The median sale price for homes in Baltimore in 2012 was $95,000. Despite the housing collapse, and along with the national trends, Baltimore residents still face slowly increasing rent (up 3% in the summer of 2010).

The homeless population in Baltimore is steadily increasing; it exceeded 4,000 people in 2011. The increase in the number of young homeless people was particularly severe.

 

ECONOMY:

Once a predominantly industrial town, with an economic base focused on steel processing, shipping, auto manufacturing (General Motors Baltimore Assembly), and transportation, the city experienced deindustrialization which cost residents tens of thousands of low-skill, high-wage jobs. The city now relies on a low-wage service economy, which accounts for 31% of jobs in the city. Around the turn of the century, Baltimore was the leading US manufacturer of rye whiskey and straw hats. It also led in refining of crude oil, brought to the city by pipeline from Pennsylvania.

As of March 2015 the U.S. Bureau of Labor Statistics calculates Baltimore's unemployment rate at 8.1% while one quarter of Baltimore residents (and 37% of Baltimore children) live in poverty. The 2012 closure of a major steel plant at Sparrows Point is expected to have a further impact on employment and the local economy. The Census Bureau reported in 2013 that 207,000 workers commute into Baltimore city each day. Downtown Baltimore is the primary economic asset within Baltimore City and the region with 29.1 million square feet of office space. The tech sector is rapidly growing as the Baltimore metro ranks 8th in the CBRE Tech Talent Report among 50 U.S. metro areas for high growth rate and number of tech professionals. Forbes ranked Baltimore fourth among America's "new tech hot spots".

 
Inner Harbor Panorama.
 
Panoramic view of the Baltimore Inner Harbor and Harbor Point waterfront development as seen from the Domino Sugar factory.

The city is home to the Johns Hopkins Hospital. Other large companies in Baltimore include Under Armour, BRT Laboratories, Cordish Company, Legg Mason, McCormick & Company, T. Rowe Price, and Royal Farms. A sugar refinery owned by American Sugar Refining is one of Baltimore's cultural icons. Nonprofits based in Baltimore include Lutheran Services in America and Catholic Relief Services.

Almost a quarter of the jobs in the Baltimore region were in science, technology, engineering and math as of mid 2013, in part attributed to the city's extensive undergraduate and graduate schools; maintenance and repair experts were included in this count.

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Baltimore - Maryland