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OK Avg Real Estate Commission Rate in Tulsa, Oklahoma

Tulsa is the second-largest city in the state of Oklahoma and 47th-most populous city in the United States. As of July 2015, the population was 403,505, an increase of 11,599 over that reported in the 2010 Census. It is the principal municipality of the Tulsa Metropolitan Area, a region with 981,005 residents in the MSA and 1,151,172 in the CSA. The city serves as the county seat of Tulsa County, the most densely populated county in Oklahoma, with urban development extending into Osage, Rogers, and Wagoner counties.

Tulsa was settled between 1828 and 1836 by the Lochapoka Band of Creek Native American tribe. For most of the 20th century, the city held the nickname "Oil Capital of the World" and played a major role as one of the most important hubs for the American oil industry.

Once heavily dependent on the oil industry, Tulsa experienced economic downturn. Subsequent diversification efforts created an economic base in the energy, finance, aviation, telecommunications and technology sectors. Two institutions of higher education within the city have sports teams at the NCAA Division I level, Oral Roberts University and the University of Tulsa.

It is situated on the Arkansas River at the foothills of the Ozark Mountains in northeast Oklahoma, a region of the state known as "Green Country". Considered the cultural and arts center of Oklahoma, Tulsa houses two world-renowned art museums, full-time professional opera and ballet companies, and one of the nation's largest concentrations of art deco architecture. The city has been called one of America's most livable large cities by Partners for Livable Communities, Forbes, and Relocate America. FDi Magazine in 2009 ranked the city no. 8 in the U.S. for cities of the future. In 2012, Tulsa was ranked among the top 50 best cities in the United States by BusinessWeek. People from Tulsa are called "Tulsans".

 

Tulsa, Oklahoma 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 Tulsa, Oklahoma. 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 Tulsa, Oklahoma, 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 Oklahoma, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Oklahoma City $160,200 3.40%
Tulsa $161,600 5.80%
 
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 Oklahoma.

 

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, Tulsa had a population of 391,906 and the racial and ethnic composition was as follows:

  • White American: 62.6% (57.9% Non-Hispanic Whites, down from 85.7% in 1970)
  • Black: 15.6%
  • Hispanic or Latino (of any race): 14.1% (11.5% Mexican, 0.4% Puerto Rican, 0.3% Guatemalan, 0.2% Spanish, 0.2% Honduran, 0.2% Salvadoran)
  • Some other race: 8.0%
  • Two or more races: 5.9%
  • Native American: 5.3%
  • Asian American: 2.3% (0.5% Indian, 0.4% Vietnamese, 0.3% Chinese, 0.2% Hmong, 0.2% Korean, 0.2% Burmese)
  • Native Hawaiian and Other Pacific Islander: 0.1%
 
Tulsa is sometimes considered the "buckle of the Bible Belt"; it is the home of Oral Roberts University and the university's Prayer Tower.
 

As of the 2010 census, there were 391,906 people, 163,975 households, and 95,246 families residing in the city, with a population density of 2,033.4 inhabitants per square mile (785.1/km2) There were 185,127 housing units at an average density of 982.3 per square mile (379.2/km2). Of 163,975 households, 27% had children under the age of 18 living with them, 38.2% were married couples living together, 14.6% had a female householder with no husband present, and 41.9% were non-families. Of all households, 34.5% are made up of only one person, and 10% had someone living alone who was 65 years of age or older. The average household size was 2.34 people and the average family size was 3.04.

In the city proper, the age distribution was 24.8% of the population under the age of 18, 10.9% from 18 to 24, 29.9% from 25 to 44, 21.5% from 45 to 64, and 12.9% who were 65 years of age or older, while the median age was 34 years. For every 100 females there were 93.5 males, while for every 100 females over the age of 17 there were 90.4 males. In 2011, the median income for a household in the city was $40,268 and the median income for a family was $51,977. The per capita income for the city was $26,727. About 19.4% of the population were below the poverty line. Of the city's population over the age of 25, 29.8% holds a bachelor's degree or higher, and 86.5% have a high school diploma or equivalent.

 

ECONOMY:

Traditionally, Tulsa's economy has been led by the energy industry. The United States Oil and Gas Association, formerly the Mid-Continent Oil and Gas Association, was founded in Tulsa on October 13, 1917, six months after the entry of the United States into World War I. At the time Tulsa called itself "The Oil Capital of the World". At its creation, the association worked to provide petroleum to the Allied forces. In the decades since its establishment, the association is recognized as a leading advocate for producers of domestic oil and gas.

Over the city's history many large oil companies have been headquartered in the city, including Warren Petroleum (which merged with Gulf Oil in what was then the largest merger in the energy industry), Skelly Oil, Getty Oil and CITGO. In addition, ConocoPhillips was headquartered in nearby Bartlesville. Industry consolidation and increased offshore drilling threatened Tulsa's status as an oil capital, but new drilling techniques and the rise of natural gas has buoyed the growth of the city's energy sector.

Today, Tulsa is again home to the headquarters of many international oil and gas-related companies, including Williams Companies, SemGroup, ONE Gas, Syntroleum, ONEOK, Laredo Petroleum, Samson Resources, Helmerich & Payne, Magellan Midstream Partners, WPX Energy, and Excel Energy.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Tulsa - Oklahoma