Winston-Salem is a city in and the county seat of Forsyth County, North Carolina, United States. With a 2015 estimated population of 241,218, it is the second largest municipality in the Piedmont Triad region and the 5th-most populous city in North Carolina, and the 89th-most populous city in the United States. Winston-Salem is home to the tallest office building in the region, 100 North Main Street, formerly the Wachovia Building and now known locally as the Wells Fargo Center.
Winston-Salem is called the "Twin City" for its dual heritage and "City of the Arts and Innovation" for its dedication to fine arts and theater and technological research. "Camel City" is a reference to the city's historic involvement in the tobacco industry related to locally based R. J. Reynolds Tobacco Company's Camel cigarettes. Many locals refer to the city as "Winston" in informal speech. Another nickname, "the Dash," comes from the (-) in the city's name, although technically it is a hyphen, not a dash; this nickname is only used by the local minor league baseball team, the Winston-Salem Dash.
In 2012, the city was listed among the 10 best places to retire in the U.S. by CBS MoneyWatch.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Winston-Salem, 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 Winston-Salem, 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|
|Myrtle Beach-Conway-North Myrtle Beach||$206,300||5.60%|
|Virginia Beach-Norfolk-Newport News||$239,900||7.60%|
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 North Carolina.
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…
Winston-Salem's population grew by 23.6% from 2000 to 2010, making it the fourth largest city in North Carolina. As of the census of 2010, the population is 229,617, with 90,245 households and a population density of 1,733.6 people per square mile.
Winston-Salem is 53.0% female, and 27.8% of its firms are owned by women. The median age is 35 years. 24.6% of the population is under 18 years old, and 12.5% of the population is 65 years or older.
The racial composition of the city in 2010 was 51.2% White, 34.7% Black or African American, 2% Asian American, 0.1% Native American, 0.08% Native Hawaiian and Other Pacific native alone, and 2.4% two or more races. In addition, 14.7% was Hispanic or Latino, of any race. Non-Hispanic Whites were 47.1% of the population in 2010.
38.4% are married couples living together, 17.3% have a female householder with no husband present, and 39.7% are non-families. 33.1% of all households are made up of individuals and 10.3% have someone living alone who is 65 years of age or older. The average household size is 2.38 and the average family size is 3.06.
The median income for a household in the city is $41,228, and the median income for a family is $53,222. The mean income for a household in the city is $60,637, and the mean income for a family is $74,938. Males have a median income of $41,064 versus $33,683 for females. The per capita income for the city is $24,728. 20.6% of the population and 15.7% of all families are below the poverty line. 26.2% of Out of the total population, 31.6% of those under the age of 18 and 8.2% of those 65 and older are living below the poverty line.
It is the location of the corporate headquarters of BB&T (Branch Banking and Trust Company), HanesBrands, Inc., Krispy Kreme Doughnuts, Inc., Lowes Foods Stores, ISP Sports, Reynolds American (parent of R. J. Reynolds Tobacco Company), Reynolda Manufacturing Solutions, K&W Cafeterias, and TW Garner Food Company (makers of Texas Pete). Blue Rhino, the nation's largest propane exchange company and a division of Ferrellgas, is also headquartered in Winston-Salem. Wachovia Corporation was based in Winston-Salem until it merged with First Union Corporation in September 2001; the corporate headquarters of the combined company was located in Charlotte, until it was purchased by Wells Fargo in December 2008. PepsiCo has its Customer Service Center located in Winston-Salem.
Although traditionally associated with the textile and tobacco industries, Winston-Salem is transforming itself to be a leader in the nanotech, high-tech and bio-tech fields. Medical research is a fast-growing local industry, and Wake Forest Baptist Medical Center is the largest employer in Winston-Salem. In December 2004, the city entered into a deal with Dell, providing millions of dollars in incentives to build a computer assembly plant nearby in southeastern Forsyth County. Dell closed its Winston-Salem facility in January 2010 due to the poor economy. In January 2015, Herbalife opened a manufacturing facility in the space left vacant by Dell.
Public and private investment of $713 million has created the Wake Forest Innovation Quarter, an innovation district in downtown Winston-Salem which features business, education in biomedical research and engineering, information technology and digital media, as well as public gathering spaces, apartment living and community events.
According to the Winston-Salem Business Inc.'s 2012–2013 data report on major employers, the ten largest employers in the city are:
|#||Employer||# of Employees|
|1||Wake Forest Baptist Medical Center||11,750|
|3||Winston-Salem/Forsyth County Schools||6,692|
|5||Reynolds American, Inc.||3,000|
|9||Wake Forest University||1,680|