Little Rock is the capital and most populous city of the U.S. state of Arkansas. It is also the county seat of Pulaski County. It was incorporated on November 7, 1831, on the south bank of the Arkansas River close to the state's geographic center. The city derives its name from a rock formation along the river, named "la petite roche" by the French explorer Jean-Baptiste Bénard de la Harpe in the 1720s. The capital of the Arkansas Territory was moved to Little Rock from Arkansas Post in 1821. The city's population was 193,524 at the 2010 census. The six-county Little Rock-North Little Rock-Conway, AR Metropolitan Statistical Area (MSA) is ranked 75th in terms of population in the United States with 724,385 residents according to the 2013 estimate by the United States Census Bureau.
Little Rock is a cultural, economic, government, and transportation center within Arkansas and the South. Several cultural institutions are in Little Rock, such as the Arkansas Arts Center, the Arkansas Repertory Theatre, and the Arkansas Symphony Orchestra, in addition to the hiking, boating, and other outdoor recreational opportunities. Little Rock's history is available through history museums, historic districts or neighborhoods like the Quapaw Quarter, and historic sites such as Little Rock Central High School. The city is the headquarters of Dillard's, Windstream Communications, Acxiom, Stephens Inc., University of Arkansas for Medical Sciences, Heifer International, the Clinton Foundation, and the Rose Law Firm. Other large corporations, such as Dassault Falcon Jet and LM Wind Power have large operations in the city. State government is a large employer, with many offices being in downtown Little Rock. Two Interstate highways, Interstate 30 and Interstate 40, meet in Little Rock, with the Port of Little Rock serving as a shipping hub.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Arkansas. 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 Arkansas, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.00%
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 Arkansas, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Little Rock-North Little Rock-Conway||$144,300||2.60%|
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.
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 LOCATION.
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.
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As of the 2010 census, there were 193,524 people, 82,018 households, and 47,799 families residing in the city. The population density was 1,576.0 people per square mile (608.5/km²). There were 91,288 housing units at an average density of 769.1 per square mile (296.95/km²). The racial makeup of the city was 48.9% White, 42.3% Black, 0.4% Native American, 2.7% Asian, 0.08% Pacific Islander, 3.9% from other races, and 1.7% from two or more races. 6.8% of the population is Hispanic or Latino.
There were 82,018 households, out of which 30.5% had children under the age of 18 living with them, 36.6% were married couples living together, 17.5% had a female householder with no husband present, and 41.7% were non-families. 34.8% of all households were made up of individuals and 8.8% had someone living alone who was 65 years of age or older. The average household size was 2.30 and the average family size was 3.00.
In the city, the population was spread out with 24.7% under the age of 18, 10.0% from 18 to 24, 31.7% from 25 to 44, 22.0% from 45 to 64, and 11.6% who were 65 years of age or older. The median age was 34 years. For every 100 females there were 89.2 males. For every 100 females age 18 and over, there were 85 males.
The median income for a household in the city was $37,572, and the median income for a family was $47,446. Males had a median income of $35,689 versus $26,802 for females. The per capita income for the city was $23,209. 14.3% of the population is below the poverty line. Out of the total population, 20.9% of those under the age of 18 and 9.0% of those 65 and older were living below the poverty line.
Dillard's Department Stores, Windstream Communications and Acxiom, Simmons Bank, Bank of the Ozarks, Rose Law Firm, Central Flying Service and large brokerage Stephens Inc. are headquartered in Little Rock.
Large companies headquartered in other cities but with a large presence in Little Rock are Dassault Falcon Jet near Little Rock National Airport in the eastern part of the city, Fidelity National Information Services in northwestern Little Rock, and Welspun Corp in Southeast Little Rock.
Little Rock and its surroundings are the headquarters for some of the largest non-profit organizations in the world, such as Winrock International, Heifer International, the Association of Community Organizations for Reform Now, Clinton Foundation, Lions World Services for the Blind, Clinton Presidential Center, Winthrop Rockefeller Foundation, FamilyLife, Audubon Arkansas, and The Nature Conservancy.
Associations, such as the American Taekwondo Association, Arkansas Hospital Association, and the Quapaw Quarter Association.
Arkansas Blue Cross and Blue Shield, Baptist Health Medical Center, Entergy, Dassault Falcon Jet, Siemens, AT&T Mobility, Kroger, Euronet Worldwide, L'Oréal Paris, Timex, and UAMS are employers throughout Little Rock.
One of the largest public employers in the state with over 10,552 employees, the University of Arkansas for Medical Sciences (UAMS) and its healthcare partners — Arkansas Children's Hospital and the Central Arkansas Veterans Healthcare System—have a total economic impact in Arkansas of about $5 billion per year. UAMS receives less than 11% of its funding from the state. Its operation is funded by payments for clinical services (64%), grants and contracts (18%), philanthropy and other (5%), and tuition and fees (2%).
The Little Rock port is an intermodal river port with a large industrial business complex. It is designated as Foreign Trade Zone 14. International corporations such as Danish manufacturer LM Glasfiber have established new facilities adjacent to the port.
Along with Louisville and Memphis, Little Rock has a branch of the Federal Reserve Bank of St. Louis.