Most real estate agents in South Carolina get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in South Carolina? In this post, we’ll help you determine how much commission you might pay on your South Carolina home sale, and what options are available to earn the highest proceeds possible. According to Joel Barber, a top South Carolina real estate agent with 18 years of experience, you can expect to pay between 5%-6% in agent commissions when selling a home in the Palmetto State, with some variation based on your location. On a property worth the current statewide median home sale price of $322,980, that amounts to $16,149–$19,379 in commission costs. Barber says South Carolina’s average commission rate is very similar to the national average. However, the exact percentage you pay depends on what you’re asking your agent to do, their brokerage firm’s structure, and what qualifications they have. Some agents are tied to a commission structure set by their broker, while others might have more flexibility, Barber says. Using an overall statewide average of 5.5%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six cities in South Carolina: HomeLight gathers agent commission data from cities throughout the U.S. To see if we have commission rates for your city, try our Agent Commissions Calculator. You might also be interested in our Home Value Estimator. Still curious about commission rates in South Carolina? Here are the answers to common questions about real estate agent commissions: The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent. Barber, who has worked with 83% more single-family homes than the average agent in his Myrtle Beach market, explains the exact commission rate is set very early in the process. Once you go through the interview process and select your real estate agent, you’ll formalize your relationship with a listing agreement. That contract will state what commission is due and when. First, Barber says, you’ll determine the market value for the property together and then decide on a commission structure. From there, your agent will provide you with a net sheet, which shows what is being charged to you as the seller. “What [we] do is provide a net sheet based on [the commission rate] with other fees, such as the stamps, closing attorney fees, and mortgage balance perhaps, to give the seller an idea of what they’re going to net in their pocket based on that market range of the property’s value,” Barber says. Curious as to why you’ll be on the hook for the buyer agent’s side as well? That’s to make homebuying more accessible, especially for first-time buyers, according to the National Association of Realtors (NAR). But the commission will typically be paid from the sale proceeds, so that’s why having an experienced real estate agent that gets you a strong offer is so important.What’s the average real estate commission in South Carolina?
South Carolina city
Median home price
Typical commission at 5.5%
Charleston
$416,700
$22,919
Columbia
$264,000
$14,520
Florence
$195,700
$10,764
Greenville
$318,800
$17,534
Myrtle Beach
$374,000
$20,570
Spartanburg
$275,700
$15,164
Who pays real estate commission fees?
