Vancouver is a city on the north bank of the Columbia River in the U.S. state of Washington, and the largest suburb of Portland, Oregon. Incorporated in 1857, it is the fourth largest city in the state, with a population of 161,791 as of April 1, 2010 census. Vancouver is the county seat of Clark County and forms part of the Portland-Vancouver metropolitan area, the 23rd largest metropolitan area in the United States. Originally established in 1825 around Fort Vancouver, a fur-trading outpost, the city is located on the Washington–Oregon border along the Columbia River, directly north of Portland. In 2005, Money magazine named it No. 91 on its list of best places in America to live. In 2016, WalletHub ranks Vancouver the 39th best place in the US for families to live.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Portland-Vancouver-Hillsboro, OR-WA, Washington. 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 Portland-Vancouver-Hillsboro, OR-WA, Washington, 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 Washington, 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 Washington.
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.
Click here to see your savings in just 24 hours…
As of the census of 2010, there were 161,791 people, 65,691 households, and 40,246 families residing in the city. The population density was 3,482.4 inhabitants per square mile (1,344.6/km2). There were 70,005 housing units at an average density of 1,506.8 per square mile (581.8/km2). The racial makeup of the city was 80.9% White, 2.9% African American, 1.0% Native American, 5.0% Asian, 1.0% Pacific Islander, 4.3% from other races, and 4.8% from two or more races. Hispanic or Latino people of any race were 10.4% of the population.
There were 65,691 households of which 31.9% had children under the age of 18 living with them, 42.6% were married couples living together, 13.2% had a female householder with no husband present, 5.5% had a male householder with no wife present, and 38.7% were non-families. 30.0% of all households were made up of individuals and 9.9% had someone living alone who was 65 years of age or older. The average household size was 2.43 and the average family size was 3.02.
The median age in the city was 35.9 years. 24% of residents were under the age of 18; 9.4% were between the ages of 18 and 24; 28.9% were from 25 to 44; 25.3% were from 45 to 64; and 12.4% were 65 years of age or older. The gender makeup of the city was 48.8% male and 51.2% female.
The Vancouver economy is characterized by border economics with neighboring Portland, Oregon. The state of Washington levies no individual or corporate income taxes and levies a property tax below the national average and a sales tax above the national median. The State of Oregon has even lower property taxes and no sales tax but one of the highest state income taxes. As a result, many Vancouver residents prefer to shop in neighboring Portland where they do not pay sales taxes then live and work in Vancouver where they do not pay state income tax. (Washington residents who work in Oregon must pay Oregon income tax.) For the same reasons, the city is popular with retirees. Conversely, the city is less favored by students and young adults. In 2003, 70% of workers in Vancouver worked in Clark County. There is a risk in sales tax avoidance because Washington has a use tax due on all purchases made in Oregon that are then returned to Washington. Vancouver residents "shop at their own risk" when attempting to avoid the sales tax in Washington, although the rule is rarely, if ever, enforced except for purchases requiring registration, such as motor vehicles.
The taxation and demographics of the area depresses the retail sector of Vancouver's economy. Oregon has stricter development laws to protect the timber industry; therefore, Vancouver tends to attract a higher proportion of the region's sprawling development. The voting base also led to rejection of extension of Portland's light-rail system into the city for several years. In 2013, Washington transitioned away from being a control state.
The economic history of Vancouver reflects the region. Moving from a salmon- and trade-based indigenous economy by the Chinook people, the Hudson's Bay Company pioneered extractive industries such as the fur trade and timber. Subsistence agricultural gave way to market and export crops such as apples, strawberries and prunes. Largely bypassed by the railroad in the 1880s, when the Oregon Steam Navigation company would ferry trains across the river downstream from St. Helens, Oregon to Kalama, Washington, early downtown development was focused around Washington Street (where ferries arrived), lumber and Vancouver Barracks activities such as a large spruce mill for manufacturing airplanes. A 1908 railroad swing bridge across the Columbia allowed greater industrial developments such as the Standifer Shipyard during the first world war. With the Interstate Bridge and Bonneville Dam Vancouver saw an industrial boom in the 1940s, including the Kaiser shipyard and Alcoa, as well as a Boise Cascade paper mill, just west of the Interstate Bridge.
As the old-growth forests were depleted and heavy industry left the United States, Vancouver's economy has largely changed to high tech and service industry jobs, with many residents commuting to Portland. Vancouver contains the corporate headquarters for Nautilus, Inc. and The Holland (parent company of the Burgerville, USA restaurant chain).
The Port of Vancouver USA operates a port on the Columbia River, which separates Oregon to the south and Washington to the north. It handles over 400 ocean-going vessels annually, as well as a number of barges which ply the river and its tributaries as far as Lewiston, Idaho.
The Vancouver Energy project is a proposed crude oil transport hub in the Port of Vancouver USA. It has a tentative construction start date of December 2014 and estimated operation date of 2016. It is estimated, that this project would produce the equivalent of $1.6 billion in employment income during the terminal's construction and for its first 15 years of operation.
According to the City's 2012 Comprehensive Annual Financial Report, the largest employers in the city are:
|#||Employer||# of employees|
|1||PeaceHealth Southwest Medical Center||2,841|
|2||Evergreen Public Schools||2,455|
|3||Vancouver Public Schools||2,203|
|4||County of Clark||1,561|
|7||City of Vancouver||962|
|8||The Vancouver Clinic||912|