Dallas, officially City of Dallas, is within the 4th most populous metropolitan area in the United States. Dallas is a modern metropolis city in the U.S. state of Texas. The Dallas–Fort Worth metro area had the second largest population increase among metropolitan areas in the U.S., which recorded a population of 7,233,323 as of July 1, 2016, an increase of 807,000 people since the 2010 census. Located in North Texas, Dallas is the main core of the largest metropolitan area in the South and the largest inland metropolitan area in the United States that lacks any navigable link to the sea. Dallas and nearby Fort Worth were developed due to the construction of major railroad lines through the area allowing access to cotton, cattle, and later oil in North and East Texas. The construction of the Interstate Highway System reinforced Dallas's prominence as a transportation hub with four major interstate highways converging in the city, and a fifth interstate loop around it. Dallas developed as a strong industrial and financial center, and a major inland port, due to the convergence of major railroad lines, interstate highways, and the construction of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.
Dallas is one of the fastest-growing cities in the United States. From 2010 to 2016, Dallas recorded the highest net domestic migration in the country, in excess of 300,000.
The city's prominence arose from its historical importance as a strong center for commerce and its position along numerous railroad lines. Dallas today enjoys a thriving economy on the world scale. In 2016, 22 of the Fortune 500 companies had top-level headquarters residing the Dallas–Fort Worth metroplex. In 2016, 4 of the Global 500 companies had top-level headquarters residing in the Dallas area. The bulk of the city is in Dallas County, of which it is the county seat; however, sections of the city are located in Collin, Denton, Kaufman, and Rockwall counties. According to the 2010 United States Census, the city had a population of 1,197,816. The United States Census Bureau's estimate for the city's population increased to 1,317,929 as of July 1, 2016.
Texas Real Estate Commission Rate: A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Dallas-Fort Worth-Arlington, Texas. 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 Dallas-Fort Worth-Arlington, Texas, 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 Texas, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Houston-The Woodlands-Sugar Land||$235,600||8.40%|
|San Antonio-New Braunfels||$222,600||5.70%|
Realtor commission fees 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 Texas.
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.
Click here to see your savings in just 24 hours…
As of the 2010 Census, Dallas had a population of 1,197,816. The median age was 31.8.
According to the 2010 Census, 50.7% of the population was White (28.8% non-Hispanic white), 24.8% was Black or African American, 0.7% American Indian and Alaska Native, 2.9% Asian, 2.6% from two or more races. 42.4% of the total population was of Hispanic or Latino origin (they may be of any race).
At the 2006–2010 American Community Survey 5-Year Estimates, among the Hispanic population, 36.8% of Dallas was Mexican, 0.3% Puerto Rican, 0.2% Cuban and 4.3% other Hispanic or Latino.
There were 458,057 households at the 2010 census, out of which 29.1% had children under the age of 18 living with them, 36.1% were headed by married couples living together, 16.0% had a female householder with no husband present, and 42.0% were classified as non-family households. 33.7% of all households had one or more people under 18 years of age, and 17.6% had one or more people who were 65 years of age or older. The average household size was 2.57 and the average family size was 3.42.
At the 2010 census, the city's age distribution of the population showed 26.5% under the age of 18 and 8.8% who were 65 years of age or older. The median age was 31.8 years. 50.0% of the population was male and 50.0% was female.
According to the 2005–2007 American Community Survey, the median income for a household in the city was $40,147, and the median income for a family was $42,670. Male full-time workers had a median income of $32,265 versus $32,402 for female full-time workers. The per capita income for the city was $25,904. About 18.7% of families and 21.7% of the population were below the poverty line, including 33.6% of those under age 18 and 13.4% of those aged 65 or over. The median price for a house was $129,600.
Dallas's population was historically predominantly white (non-Hispanic whites made up 82.8% of the population in 1930), but its population has diversified due to immigration and "white flight" over the 20th century. Today the non-Hispanic white population has declined to less than one-third of the city's population.
Dallas is a major destination for Mexican immigrants. The southwestern portion of the city, particularly Oak Cliff is chiefly inhabited by Hispanic residents. The southeastern portion of the city Pleasant Grove is chiefly inhabited by black and Hispanic residents, while the southern portion of the city is predominantly black. The West and East sides of the city are predominantly Hispanic; Garland also has a large Spanish speaking population. North Dallas is many enclaves of predominantly white, black and especially Hispanic residents.
The Dallas-Fort-Worth Metroplex has an estimated 70,000 Russian-speakers (as of November 6, 2012) mostly immigrants from the former Soviet Bloc. Included in this population are Russians, Russian Jews, Ukrainians, Belorussians, Moldavians, Uzbek, Kirghiz, and others. The Russian-speaking population of Dallas has continued to grow in the sector of "American husbands-Russian wives". Russian DFW has its own newspaper The Dallas Telegraph.
In addition, Dallas and its suburbs are home to a large number of Asian residents including those of Indian, Vietnamese, Chinese, Korean, Filipino, Japanese, and other heritage. There are also a significant number of people from the Horn of Africa, immigrants from Ethiopia, Eritrea, and Somalia. With so many immigrant groups, there are often multilingual signs in the linguistic landscape.
According to U.S. Census American Community Survey data released in December 2013, 23 percent of Dallas County residents were foreign-born, while 16 percent of Tarrant County residents were foreign-born.
Recognized for having the sixth largest lesbian, gay, bisexual, and transgender (LGBT) population in the nation, the Dallas metropolitan is widely noted for being home to a thriving and diverse LGBT community. Throughout the year there are many well-established LGBT events held in the area, most notably the annual Alan Ross Texas Freedom (Pride) Parade and Festival held every September since 1983 which draws tens of thousands from around the world. For decades, the Oak Lawn and Bishop Arts districts have been known as the epicenters of the LGBT community in Dallas.
In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas's key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s, Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ⅓ of the nation's cotton crop, with 31% of Texas cotton produced within a 100-mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas's proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas's position as the hub of the market.
The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies such as Collins Radio Corporation. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of "Silicon Prairie" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies including Texas Instruments (headquartered in Dallas), Nortel Networks, Alcatel Lucent, AT&T, Ericsson, Fujitsu, Nokia, Rockwell Collins, Cisco Systems, Sprint, Verizon Communications, XO Communications and until recently CompUSA (which is now headquartered in Miami,FL). Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas.
In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas's largest buildings are the fruit of this boom, but over-speculation, the savings and loan crisis and an oil bust brought the 80's building boom to an end for Dallas as well as its city sister Houston. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth. However, since the early 2000s the central core of Dallas has been enjoying steady and significant growth encompassing both repurposing of older commercial buildings in downtown Dallas into residential and hotel uses as well as the construction of new office and residential towers. The opening of Klyde Warren Park, built across Woodall Rodgers Freeway seamlessly connecting the central Dallas CBD to Uptown/Victory Park, has acted synergistically with the highly successful Dallas Arts District so that both have become catalysts for significant new development in central Dallas.
The residential real estate market in the Dallas–Fort Worth metroplex has not only been resilient but has once again returned to a boom status. Dallas and the greater metro have been leading the nation in apartment construction and net leasing with rents reaching all-time highs. Single family home sales, whether pre-owned or new construction, along with home price appreciation are leading the nation.
A sudden drop in the price of oil, starting in mid-2014 and accelerating throughout 2015, has not affected Dallas and its greater metro due to the highly diversified nature of its economy. Dallas, and the DFW metro, continue to see strong demand for housing, apartment and office leasing, shopping center space, warehouse and industrial space with overall job growth remaining very robust. Oil-dependent cities and regions have felt significant effects from the downturn but Dallas growth has continued unabated, strengthening in 2015. Significant national headquarters relocations to the area (as exemplified by Toyota's decision to leave California and establish its new North American headquarters in the Dallas region) coupled with significant expansions of regional offices for a variety of corporations and along with company relocations to downtown Dallas are helping drive the current boom in the Dallas economy. Dallas leads Texas's largest cities in Forbes' 2015 ranking of "The Best Place for Business and Careers".
The Dallas-Fort Worth MSA has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. Fortune Magazine's 2017 annual list of the Fortune 500 in America indicates the city of Dallas has 9 Fortune 500 companies, and the DFW region as a whole has 22, reflecting the continued strong growth in the metro economy and up from 20 the year before. Dallas-Fort Worth now represents the largest concentration of Fortune 500 headquarters in the State of Texas, followed by the Houston MSA with its count of 20, down from 24 the year before.
In 2008, AT&T relocated their headquarters to Downtown Dallas; AT&T is the largest telecommunications company in the world and the ninth largest company in the nation by revenue for 2017. Additional Fortune 500 companies headquartered in Dallas in order of ranking include Energy Transfer Equity, Tenet Healthcare, Southwest Airlines, Texas Instruments, Jacobs Engineering, HollyFrontier, Dean Foods, and Builders FirstSource. In October 2016, Jacobs Engineering, one of the world's largest engineering companies, relocated from Pasadena, California to Downtown Dallas.
Irving is home to 6 Fortune 500 companies of its own, including ExxonMobil, the largest oil company in the world and the fourth largest company in the nation by revenue for 2017, Fluor (engineering), Kimberly-Clark, Celanese, Michaels Companies, and Vistra Energy. Plano is home to 4 Fortune 500 companies including J.C. Penney, Alliance Data Systems, Yum China Holdings, and Dr. Pepper Snapple. Ft. Worth is home to 2 Fortune 500 companies including American Airlines, the largest airline in the world by revenue, fleet size, profit, passengers carried and revenue passenger mile and D.R. Horton, the largest homebuilder in America. One Fortune 500 company, Gamestop, is based in Grapevine.
Additional major companies headquartered in Dallas and its metro include Comerica, which relocated its national headquarters to Downtown Dallas from Detroit in 2007, NTT DATA Services, Regency Energy Partners, Atmos Energy, Neiman Marcus, Think Finance, 7-Eleven, Brinker International, Primoris Services, AMS Pictures, id Software, Ensco plc, Mary Kay Cosmetics, Chuck E. Cheese's, Zale Corporation, and Fossil, Inc.. Many of these companies—and others throughout the DFW metroplex—comprise the Dallas Regional Chamber.
Susan G. Komen for the Cure, the world's largest breast cancer organization was founded and is headquartered in Dallas.
In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931. Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.
According to Forbes magazine's annual list of "The Richest People in America" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires. The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth. In 2013, Forbes also ranked Dallas No. 13 on its list of the Best Places for Business and Careers.
Dallas is currently the third most popular destination for business travel in the United States, and the Kay Bailey Hutchison Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single-largest column-free exhibit hall.