Montgomery is a major city and the capital of the U.S. state of Alabama and the county seat of Montgomery County. Named for Richard Montgomery, it is located on the Alabama River, in the Gulf Coastal Plain. As of the 2013 Census, Montgomery has a population of 201,332. It is the second-largest city in Alabama, after Birmingham, and is the 115th largest in the United States. The Montgomery Metropolitan Statistical Area had a 2010 estimated population of 374,536. It is the fourth-largest in the state and 136th among United States metropolitan areas.
The city was incorporated in 1819 as a merger of two towns situated along the Alabama River. It became the state capital in 1846, representing the shift of power to the south-central area with the growth of cotton as a commodity crop of the Black Belt and the rise of Mobile as a mercantile port on the Gulf Coast. In February 1861, Montgomery was selected as the first capital of the Confederate States of America, until the seat of government moved to Richmond, Virginia, in May of that year. During the mid-20th century, Montgomery was a major center of events and protests in the Civil Rights Movement, including the Montgomery Bus Boycott and the Selma to Montgomery marches.
In addition to housing many Alabama government agencies, Montgomery has a large military presence due to Maxwell Air Force Base; public universities Alabama State University, Troy University (Montgomery campus), and Auburn University at Montgomery; private colleges/universities Faulkner University and Huntingdon College; high-tech manufacturing, including Hyundai Motor Manufacturing Alabama; and cultural attractions such as the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts.
Montgomery has won several national awards: Best Historic City by USA Today, All-America City in 2014 by the National Civic League, "Top City For Job Growth" in 2014 by ziprecruiter.com, and the 'happiest city in Alabama.' Montgomery has also been recognized nationally for its downtown revitalization and new urbanism projects. It was one of the first cities in the nation to implement Smart Code Zoning.
A total commission of 6% is typically asked for by “full service” Agents working for the big national real estate firms in Montgomery, Alabama. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Montgomery, Alabama, 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 Alabama, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
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 Alabama
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, the population of the city was 205,764. There were 81,486 households, out of which 29% had children under the age of 18 living with them. The racial makeup of the city was 56.6% Black, 37.3% White, 2.2% Asian, 0.2% Native American, 0.1% Pacific Islander, 2.2% from other races, and 1.3% from two or more races. 3.9% of the population were Hispanic or Latino of any race. Non-Hispanic Whites were 36.1% of the population in 2010, down from 66% in 1970. The population density varies in different parts of the city; East Montgomery (Taylor Rd and East), the non-Hispanic White population is 74.5%, 8.3% African American, Latino 3.2%, other non-white races carry 2.7% of the population.
The city population was spread out with 24.9% under the age of 18, 11.7% from 18 to 24, 27.3% from 25 to 44, 24.2% from 45 to 64, and 11.8% who were 65 years of age or older. The median age was 34 years. For every 100 females there were 88.6 males. For every 100 females age 18 and over, there were 84.5 males. The median income for a household in the city was $41,380, and the median income for a family was $53,125. Males had a median income of $40,255 versus $33,552 for females. The per capita income for the city was $23,139. About 18.2% of families and 21.6% of the population were below the poverty line, including 34.8% of those under age 18 and 8.4% of those age 65 or over.
Montgomery's central location in Alabama's Black Belt has long made it a processing hub for commodity crops such as cotton, peanuts, and soybeans. In 1840 Montgomery County led the state in cotton production, and by 1911, the city processed 160,000–200,000 bales of cotton annually.Montgomery has also had large metal fabrication and lumber production sectors.
Due to its location along the Alabama River and extensive rail connections, Montgomery has and continues to be a regional distribution hub for a wide range of industries. Since the late 20th century, it has diversified its economy, achieving increased employment in sectors such as healthcare, business, government, and manufacturing. Today, the city's Gross Metropolitan Product is $12.15 billion, representing 8.7% of the gross state product of Alabama.
According to Bureau of Labor Statistics data from October 2008, the largest sectors of non-agricultural employment were: Government, 24.3%; Trade, Transportation, and Utilities, 17.3% (including 11.0% in retail trade); Professional and Business Services, 11.9%; Manufacturing, 10.9%; Education and Health Services, 10.0% (including 8.5% in Health Care & Social Assistance); Leisure and Hospitality, 9.2%; Financial Activities, 6.0%, Natural Resources, Mining and Construction, 5.1%; Information, 1.4%; and Other services 4.0%. Unemployment for the same period was 5.7%, 2.5% higher than October 2007.The city also draws in workers from the surrounding area; Montgomery's daytime population rises 17.4% to 239,101.
As of January 2011, Montgomery's largest employers were Maxwell-Gunter Air Force Base (12,280 employees), the state of Alabama (9,500), Montgomery Public Schools (4,524), Baptist Health (4,300), Hyundai Motor Manufacturing Alabama (3,000), Alfa Insurance (2,568), the City of Montgomery (2,500), Jackson Hospital & Clinic (1,300), Rheem Water Heaters (1,147), and Regions (977).
According to Pennsylvania State University's "Living Wage Calculator", the living wage for the city is US$8.02 per hour (or $16,691 per year) for an individual and $25.80 per hour ($53,662 per year) for a family of four.These are slightly higher than the state averages of $7.45 per hour for an individual and $25.36 for a family of four.