Reno is a city in the U.S. state of Nevada. It is in Northern Nevada, approximately 22 miles (35 km) from Lake Tahoe. Known as "The Biggest Little City in the World", Reno is famous for its hotels and casinos and as the birthplace of Harrah's Entertainment (now known as Caesars Entertainment Corporation). It is the county seat of Washoe County, in the northwestern part of the state. The city sits in a high desert at the foot of the Sierra Nevada and its downtown area (along with Sparks) occupies a valley informally known as the Truckee Meadows. It is named after slain Union general Jesse L. Reno.
Reno is the most populous Nevada city outside the Las Vegas Valley, with an estimated population of 241,445 in 2015. Reno is part of the Reno–Sparks metropolitan area, which consists of all of both Washoe and Storey counties and has a 2016 estimated population of 457,667.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Reno, Nevada. 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 Reno, Nevada, 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 West rose 7.5%, to $372,400, 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 Nevada, 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 Nevada.
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 census of 2010, there were 225,221 people, 90,924 households, and 51,112 families residing in the city. The population density was 2,186.6 per square mile (844.2/km²). There were 102,582 housing units at an average density of 995.9 per square mile (384.5/km²). The racial makeup of the city was 74.2% White, 2.9% African American, 1.3% Native American, 6.3% Asian, 0.7% Pacific Islander, 10.5% some other race, and 4.2% from two or more races. Hispanic or Latino of any race were 24.3% of the population. Non-Hispanic Whites were 62.5% of the population in 2010, down from 88.5% in 1980.
At the 2010 census, there were 90,924 households, out of which 29.8% had children under the age of 18 living with them, 38.4% were headed by married couples living together, 11.8% had a female householder with no husband present, and 43.8% were non-families. 32.1% of all households were made up of individuals, and 9.7% were someone living alone who was 65 years of age or older. The average household size was 2.43, and the average family size was 3.10.
In the city, the 2010 population was spread out with 22.8% under the age of 18, 12.5% from 18 to 24, 28.2% from 25 to 44, 24.9% from 45 to 64, and 11.7% who were 65 years of age or older. The median age was 34.6 years. For every 100 females there were 103.4 males. For every 100 females age 18 and over, there were 102.7 males.
In 2011 the estimated median income for a household in the city was $44,846, and the median income for a family was $53,896. Males had a median income of $42,120 versus $31,362 for females. The per capita income for the city was $25,041. About 9.6% of families and 14.4% of the population were below the poverty line, including 15.1% of those under age 18 and 12.8% of those age 65 or over. The population was 180,480 at the 2000 census; in 2010, its population had risen to 225,221, making it the third-largest city in the state after Las Vegas and Henderson, and the largest outside Clark County. Reno lies 26 miles (42 km) north of the Nevada state capital, Carson City, and 22 miles (35 km) northeast of Lake Tahoe in a shrub-steppe environment. Reno shares its eastern border with the city of Sparks and is the larger of the principal cities of the Reno–Sparks, Nevada Metropolitan Statistical Area (MSA), a metropolitan area that covers Storey and Washoe counties. The MSA had a combined population of 425,417 at the 2010 census. The MSA is combined with the Fernley Micropolitan Statistical Area to form the Reno-Sparks-Fernley Combined Statistical Area, which had a total population of 477,397 at the 2010 census.
Before the late 1950s, Reno was the gambling capital of the United States, but Las Vegas' rapid growth, American Airlines' 2000 buyout of Reno Air, and the growth of Native American gaming in California have reduced its business. Older casinos were torn down (Mapes Hotel, Fitzgerald's Nevada Club, Primadonna, Horseshoe Club, Harold's Club, Palace Club), or smaller casinos like the Comstock, Sundowner, Golden Phoenix, Kings Inn, Money Tree, Virginian, and Riverboat were either closed or were converted into condos.
Because of its location, Reno has traditionally drawn the majority of its California tourists and gamblers from the San Francisco Bay Area and Sacramento, while Las Vegas has historically served more tourists from Southern California and the Phoenix area.
Several local large hotel casinos have shown significant growth and have moved gaming further away from the downtown core. These larger hotel casinos are the Atlantis, the Peppermill and the Grand Sierra Resort. The Peppermill was chosen as the most outstanding Reno gaming/hotel property by Casino Player and Nevada magazines. In 2005, the Peppermill Reno began a $300 million Tuscan-themed expansion.
In an effort to bring more tourism to the area, Reno holds several events throughout the year. They include Hot August Nights (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium), and the Reno Air Races.
Several large commercial developments were constructed during the mid-2000s boom, such as The Summit in 2007 and Legends at Sparks Marina in 2008.
Reno is the location of the corporate headquarters for numerous companies, including Braeburn Capital, Hamilton, EE Technologies, and Port of Subs. International Game Technology, Bally Technologies and GameTech have a development and manufacturing presence in Reno.
Recently, Reno has seen an influx of technology companies entering the area after the state placed an increased focus on economic development after the recession.
Tesla's Gigafactory is currently under construction at the Tahoe Reno Industrial Center, and when finished, will be the largest building in the world. The Gigafactory will purportedly cover 5.8 million square feet.
The arrival of several data centers at the Tahoe Reno Industrial Center is further diversifying a region that used to be primarily known for distribution and logistics outside gaming and tourism. Switch 's new SuperNAP campus at the Tahoe Reno Industrial Center is shaping up to be the largest data center in the world once completed. Apple is expanding its data center at the adjacent Reno Technology Park and is scheduled to build a warehouse on land in downtown Reno. Rackspace is also building a $422 million data center next to Apple.
The greater Reno area also hosts distribution facilities for Amazon, Walmart, Petsmart and Zulily.
According to Reno's 2016 Comprehensive Annual Financial Report, the top employers in the city are:
|#||Employer||# of Employees|
|1||Washoe County School District||8,750|
|2||University of Nevada, Reno||4,750|
|4||Renown Regional Medical Center||2,750|
|6||International Game Technology||1,750|
|7||Atlantis Casino Resort||1,750|
|8||Circus & Eldorado Joint Venture||1,750|
|9||HG Staffing LLC||1,750|
|10||Saint Mary's Regional Medical Center||1,250|