Commission Calculator South Carolina 2024
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South Carolina Real Estate Commission Calculator
The average real estate commission in South Carolina is 6%. Commissions in South Carolina are paid by the seller of the home. The home seller will pay both the selling agent and the buyer's real estate agent. In South Carolina, real estate commissions are usually split 50/50, with 50% going to the seller or listing agent, and 50% going to the buyer's agent.
What You Should Know
- The commission paid to the real estate agents in the U.S. is typically 5%-6% of the house’s sale price
- The seller is the one who pays for both the commission of the seller agent and the buyer agent
- The total commission is split between the buyer agent, the seller agent, and their respective brokerages
- Different U.S. states may have different commissions for real estate agent
- Real estate agents generally share some of the commission they earn with their brokerage they work for, which is usually in a ratio of 60:40
How Much are Real Estate Commissions in South Carolina?
According to Clever, which sources data from local agents, the average real estate commission in South Carolina is 5.79% in 2021.
Average Real Estate Commission in South Carolina
| South Carolina | |
|---|---|
| Average Commission | 5.79% |
| Average Home Price | $206,000 |
How can you reduce the commissions that you pay when you sell a home in South Carolina?
Real estate commissions can lead to thousands of dollars in costs when selling your home. You can try to reduce the commission rate by negotiating with your listing agent, however not all agents are willing to negotiate. There are discount brokers and listing services available in South Carolina that have reduced commission rates.
These discount brokers may still offer the same services that a full-service agent provides, yet with a low commission rate. Some of these discount brokers can charge a commission as low as 1%, charge a set flat-fee, or provide buyer rebates or cashback.
Some MLS listing services in South Carolina may charge a flat-fee as low as $100. However, listing your home as for sale by owner (FSBO) means that you will need to perform the services that a regular selling agent would do, from dealing with agents and buyers to open houses and staging.
These alternatives to a real estate agent can save you thousands, but they may offer limited service, reduce your home's visibility, or require you to do more work.
Who regulates real estate agents in South Carolina?
Real estate agents in South Carolina are licensed by the South Carolina Real Estate Commission, a body of the South Carolina Department of Labor, Licensing and Regulation.
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