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NC Avg Real Estate Commission Rate in Wilmington, North Carolina

Wilmington is a port city and the county seat of New Hanover County in coastal southeastern North Carolina, United States. The population is 112,067; according to the 2010 Census it is the eighth most populous city in the state. Wilmington is the principal city of the Wilmington Metropolitan Statistical Area, a metropolitan area that includes New Hanover and Pender counties in southeastern North Carolina, which has a population of 263,429 as of the 2012 Census Estimate.

Wilmington was settled by European Americans along the Cape Fear River. The city was named after Spencer Compton who was the Earl of Wilmington. Its historic downtown has a one-mile-long Riverwalk, developed as a tourist attraction in the late 20th century. In 2014 Wilmington's riverfront was ranked as the "Best American Riverfront" by readers of USA Today. It is minutes away from nearby beaches. The National Trust for Historic Preservation selected Wilmington as one of its 2008 Dozen Distinctive Destinations. City residents live between the river and the ocean, with four nearby beach communities: Fort Fisher, Wrightsville Beach, Carolina Beach and Kure Beach, all within half-hour drives from downtown Wilmington.

In 2003 the city was designated by the US Congress as a "Coast Guard City". It is the home port for the USCGC Diligence, a United States Coast Guard medium endurance cutter. The World War II battleship USS North Carolina is held as a war memorial; moored across from the downtown port area, the ship is open to public tours. Other attractions include the Cape Fear Museum, and the Wilmington Hammerheads United Soccer Leagues soccer team. The University of North Carolina Wilmington (UNCW) provides a wide variety of programs for undergraduates, graduate students, and adult learners, in addition to cultural and sports events open to the community.

Wilmington is the home of EUE Screen Gems Studios, the largest domestic television and movie production facility outside California. "Dream Stage 10," the facility's newest sound stage, is the third-largest in the US. It houses the largest special-effects water tank in North America. After the studio's opening in 1984, Wilmington became a major center of American film and television production. Numerous movies in a range of genres and several television series have been produced here, including Maximum Overdrive, Iron Man 3, Fox's Sleepy Hollow, One Tree Hill, Dawson's Creek and NBC's Revolution.

 

Wilmington, North Carolina 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 Wilmington, North Carolina. 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 Wilmington, North Carolina, 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 North Carolina, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Charlotte-Concord-Gastonia, NC-SC $234,300 7.40%
Durham-Chapel Hill $263,700 7.30%
Fayetteville $135,000 8.90%
Greensboro-High Point $158,500 -0.50%
Myrtle Beach-Conway-North Myrtle Beach $206,300 5.60%
Raleigh $278,300 7.50%
Virginia Beach-Norfolk-Newport News $239,900 7.60%
Wilmington $240,600 6.90%
Winston-Salem $159,100 3.60%
 
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 North Carolina.

 

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 2013 census estimates, there were 112,067 people and 47,003 households in the city. The population density was 2,067.8 people per square mile (714.2/km²)and there were 53,400 housing units. The racial composition of the city was: 73.5% White, 19.9% Black or African American, 6.1% Hispanic or Latino American, 1.2% Asian American, 0.5% Native American, 0.1% Native Hawaiian or other Pacific Islander.

There were 34,359 households out of which 20.4% had children under the age of 18 living with them, 33.5% were married couples living together, 14.0% had a female householder with no husband present, and 49.5% were non-families. 36.6% of all households were made up of individuals and 11.3% had someone living alone who was 65 years of age or older. The average household size was 2.10 and the average family size was 2.77.

In the city, the population was spread out with 18.4% under the age of 18, 17.2% from 18 to 24, 28.5% from 25 to 44, 20.6% from 45 to 64, and 15.3% who were 65 years of age or older. The median age was 34 years. For every 100 females there were 87.5 males. For every 100 females age 18 and over, there were 85.0 males.

The median income for a household in the city was $31,099, and the median income for a family was $41,891. Males had a median income of $30,803 versus $23,423 for females. The per capita income for the city was $21,503. About 13.3% of families and 19.6% of the population were below the poverty line, including 25.9% of those under age 18 and 12.0% of those age 65 or over.

 

ECONOMY:

Wilmington's industrial base includes electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; nuclear fuel; and pharmaceuticals. Wilmington is part of North Carolina's Research coast, adjacent to the Research Triangle Park in Durham, NC.

Also important to Wilmington's economy is tourism due to its close proximity to the ocean and vibrant nightlife.

Located on the Cape Fear River, which flows into the Atlantic Ocean, Wilmington is a sizable seaport, including private marine terminals and the North Carolina State Ports Authority's Port of Wilmington.

Wilmington is home to the Greater Wilmington Chamber of Commerce, the oldest Chamber in North Carolina, organized in 1853. Companies with their headquarters in Wilmington include Live Oak Bank and HomeInsurance.com.

Top employers

According to the City's 2014 Comprehensive Annual Financial Report, the top employers in the city are:

# Employer # of Employees
1 New Hanover Health Network 5,991
2 New Hanover County Schools 3,645
3 General Electric 2,195
4 University of North Carolina Wilmington 1,844
5 New Hanover County 1,563
6 Pharmaceutical Product Development 1,464
7 Verizon Wireless 1,216
8 Cape Fear Community College 1,176
9 Corning 1,000
10 City of Wilmington 995

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Wilmington - North Carolina