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LA Avg Real Estate Commission Rate in New Orleans, Metairie, Louisana

New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana.

The population of the city was 343,829 as of the 2010 U.S. Census. The New Orleans metropolitan area (New Orleans–Metairie–Kenner Metropolitan Statistical Area) had a population of 1,167,764 in 2010 and was the 46th largest in the United States. The New Orleans–Metairie–Bogalusa Combined Statistical Area, a larger trading area, had a 2010 population of 1,452,502. Before Hurricane Katrina, Orleans Parish was the most populous parish in Louisiana. As of 2015, it ranked third, trailing neighboring Jefferson Parish and East Baton Rouge Parish. The city of New Orleans is geographically coextensive with Orleans Parish.

The city is known for its distinct French and Spanish Creole architecture, as well as its cross-cultural and multilingual heritage. New Orleans is famous for its cuisine, music (particularly as the birthplace of jazz) and its annual celebrations and festivals, most notably Mardi Gras. The city is often referred to as the "most unique" in the United States.

New Orleans is located in southeastern Louisiana, and occupies both sides of the Mississippi River. The heart of the city and its French Quarter is on the river's north side. The city and Orleans Parish (French: paroisse d'Orléans) are coterminous. The city and parish are bounded by the parishes of St. Tammany to the north, St. Bernard to the east, Plaquemines to the south, and Jefferson to the south and west. Lake Pontchartrain, part of which lies within the city limits, lies to the north and Lake Borgne lies to the east.

 

New Orleans, Metairie, Bogalusa Louisiana 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 New Orleans-Metairie, Louisiana. 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 New Orleans, Metairie, Louisiana 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 Louisiana, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Baton Rouge $201,900 7.00%
New Orleans-Metairie $202,000 3.10%
Shreveport-Bossier City $170,700 0.00%
 
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 Louisiana.

 

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:

According to the 2010 Census, 343,829 people and 189,896 households lived in New Orleans. Its racial and ethnic makeup was 60.2% African American, 33.0% White, 2.9% Asian (1.7% Vietnamese, 0.3% Indian, 0.3% Chinese, 0.1% Filipino, 0.1% Korean), 0.0% Pacific Islander, and 1.7% were people of two or more races. People of Hispanic or Latino origin made up 5.3% of the population; 1.3% is Mexican, 1.3% Honduran, 0.4% Cuban, 0.3% Puerto Rican, and 0.3% Nicaraguan.

The last population estimate before Hurricane Katrina was 454,865, as of July 1, 2005. A population analysis released in August 2007 estimated the population to be 273,000, 60% of the pre-Katrina population and an increase of about 50,000 since July 2006. A September 2007 report by The Greater New Orleans Community Data Center, which tracks population based on U.S. Postal Service figures, found that in August 2007, just over 137,000 households received mail. That compares with about 198,000 households in July 2005, representing about 70% of pre-Katrina population. More recently, the Census Bureau revised upward its 2008 population estimate for the city, to 336,644 inhabitants. In 2010, estimates showed that neighborhoods that did not flood were near or even greater than 100% of their pre-Katrina populations.

A 2006 study by researchers at Tulane University and the University of California, Berkeley determined that as many as 10,000 to 14,000 undocumented immigrants, many from Mexico, resided in New Orleans. Janet Murguía, president and chief executive officer of the National Council of La Raza, stated that up to 120,000 Hispanic workers lived in New Orleans. In June 2007, one study stated that the Hispanic population had risen from 15,000, pre-Katrina, to over 50,000.

Racial composition 2010 1990 1970 1940
White 33.0% 34.9% 54.5% 69.7%
—Non-Hispanic 30.5% 33.1% 50.6% n/a
Black or African American 60.2% 61.9% 45.0% 30.1%
Hispanic or Latino (of any race) 5.2% 3.5% 4.4% n/a
Asian 2.9% 1.9% 0.2% 0.1%

As of 2010, 90.31% of residents age 5 and older spoke English at home as a primary language, while 4.84% spoke Spanish, 1.87% Vietnamese, and 1.05% spoke French. In total, 9.69% population age 5 and older spoke a mother language other than English.

 

ECONOMY:

New Orleans operates one of the world's largest and busiest ports and metropolitan New Orleans is a center of maritime industry. The region accounts for a significant portion of the nation's oil refining and petrochemical production, and serves as a white-collar corporate base for onshore and offshore petroleum and natural gas production.

New Orleans is also a center for higher learning, with over 50,000 students enrolled in the region's eleven two- and four-year degree-granting institutions. Tulane University, a top-50 research university, is located in Uptown. Metropolitan New Orleans is a major regional hub for the health care industry and boasts a small, globally competitive manufacturing sector. The center city possesses a rapidly growing, entrepreneurial creative industries sector and is renowned for its cultural tourism. Greater New Orleans, Inc. (GNO, Inc.) acts as the first point-of-contact for regional economic development, coordinating between Louisiana's Department of Economic Development and the various business development agencies.

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - New Orleans - Louisiana