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ND Avg Real Estate Commission Rate in Fargo, North Dakota

Fargo is the most populous city in the state of North Dakota, accounting for nearly 16% of the state population. Fargo is also the county seat of Cass County. According to the 2016 United States Census estimates, its population was 120,762, making it the 229th-most populous city in the United States. Fargo, along with its twin city of Moorhead, Minnesota, as well as the adjacent cities of West Fargo, North Dakota and Dilworth, Minnesota, form the core of the Fargo-Moorhead, ND-MN Metropolitan Statistical Area, which in 2016 contained a population of 238,124. In 2014, Forbes magazine ranked Fargo as the fourth fastest-growing small city in the United States.

Founded in 1871 on the Red River of the North floodplain, Fargo is a cultural, retail, health care, educational, and industrial center for eastern North Dakota and northwestern Minnesota. The city is also home to North Dakota State University.

 

Fargo, 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 Fargo, 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 Fargo, 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 105,549 people residing in the city. The population density was 2,162.0 inhabitants per square mile (834.8/km2). There were 49,956 housing units at an average density of 1,023.3 per square mile (395.1/km2). The racial makeup of the city was 90.2% White, 2.7% African American, 3.0% Asian, 1.4% Native American, 0.6% from other races, and 2.1% from two or more races. Hispanic or Latino people of any race were 2.2% of the population.

There were 46,791 households of which 24.2% had children under the age of 18 living with them, 36.8% were married couples living together, 8.6% had a female householder with no husband present, 3.9% had a male householder with no wife present, and 50.7% were non-families. 36.6% of all households were made up of individuals and 8.3% had someone living alone who was 65 years of age or older. The average household size was 2.15 and the average family size was 2.87.

The median age in the city was 30.2 years. 19.4% of residents were under the age of 18; 19.6% were between the ages of 18 and 24; 29% were from 25 to 44; 21.7% were from 45 to 64; and 10.1% were 65 years of age or older. The gender makeup of the city was 50.4% male and 49.6% female.

The median household income was $44,304, and the median income for a family was $69,401, with the mean family income being $89,110. The per capita income for Fargo was $29,187. About 16.0% of the population and 7.7% of families were below the poverty line.

 

ECONOMY:

The economy of the Fargo area has historically been dependent on agriculture. That dominance has decreased substantially in recent decades. Now, the city of Fargo has a growing economy based on food processing, manufacturing, technology, retail trade, higher education, and healthcare. In a study published by Forbes, Fargo was ranked the best small city in the nation to start a business or a career.

Largest employers

According to the City's 2014 Comprehensive Annual Financial Report, the largest employers in the city are:

# Employer # of employees
1 Sanford Health 6,020
2 North Dakota State University 4,464
3 Essentia Health 3,381
4 Fargo Public Schools 1,816
5 Noridian 1,371
6 Case New Holland 1,250
7 West Fargo Public Schools 1,248
8 Wanzek Construction, Inc. 1,100
9 US Bank 1,059
10 Eventide Senior Living Center 1,006

 

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