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ND Avg Real Estate Commission Rate in Bismarck, North Dakota

Bismarck is the capital of the U.S. state of North Dakota and the county seat of Burleigh County. It is the second-most populous city in North Dakota after Fargo. The city's population was estimated in 2016 at 72,417, while its metropolitan population was 131,635. In 2015, Forbes magazine ranked Bismarck as the seventh fastest-growing small city in the United States.

Bismarck was founded by European Americans in 1872 on the east bank of the Missouri River. It has been North Dakota's capital city since 1889, when the state was created from the Dakota Territory and admitted to the Union.

Bismarck is across the river from Mandan, named after a historic Native American tribe of the area. The two cities make up the core of the Bismarck-Mandan Metropolitan Statistical Area.

The North Dakota State Capitol, the tallest building in the state, is in central Bismarck. The state government employs more than 4,000 in the city. As a hub of retail and health care, Bismarck is the economic center of south-central North Dakota and north-central South Dakota.

 

Bismarck, North Dakota 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 Bismarck, North Dakota. 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 Bismarck, North Dakota, 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 North Dakota, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Bismarck $242,300 -3.80%
Fargo $204,700 -0.50%
 
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 North Dakota.

 

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 census of 2010, there were 61,272 people, 27,263 households, and 15,624 families residing in the city. The population density was 1,986.1 inhabitants per square mile (766.8/km2). There were 28,648 housing units at an average density of 928.6 per square mile (358.5/km2). The racial makeup of the city was 92.4% White, 0.7% African American, 4.5% Native American, 0.6% Asian, 0.3% from other races, and 1.5% from two or more races. Hispanic or Latino of any race were 1.3% of the population. In terms of ancestery, 56.1% were of German, 20.5% were of Norwegian, 7.2% were of Irish, 6.7% were of Russian, 3.7% were of American, 3.6% were of English. There were 27,263 households of which 27% had children under the age of 18 living with them (the lowest percentage in North Dakota), 44.1% were married couples living together, 9.6% had a female householder with no husband present, 3.6% had a male householder with no wife present, and 42.7% were non-families. 34.8% of all households were made up of individuals and 11.7% had someone living alone who was 65 years of age or older. The average household size was 2.18 and the average family size was 2.82.

The median age in the city was 38 years. 20.8% of residents were under the age of 18; 11% were between the ages of 18 and 24; 26.2% were from 25 to 44; 26.8% were from 45 to 64; and 15.4% were 65 years of age or older. The gender makeup of the city was 48.6% male and 51.4% female.

 

ECONOMY:

According to the City's 2011 Comprehensive Annual Financial Report, the largest employers in the city are the following:

# Employer # of Employees
1 Sanford Health 25,000 (company wide, including multi-state area.)
2 State of North Dakota 4,400
3 St. Alexius Medical Center 2,264
4 Bismarck Public Schools 1,804
5 United States government 1,200
7 MDU Resources 616
8 Walmart 690
9 Aetna 618
10 City of Bismarck 544
11 Mid Dakota Clinic 530
12 Missouri Slope Lutheran Care Center 530
13 University of Mary 503
14 Coventry Health Care 460
15 Basin Electric Power Cooperative 455

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Bismarck - North Dakota