If you’re making plans to sell your house in the Palmetto State, you’re probably curious what other nearby homes sold for, comparing list prices and estimating your net proceeds. If this is your first time selling (or it’s been a few years), you might also be wondering, “Who pays Realtor fees in South Carolina?” This question has been popping up more often ever since new real estate commission rules were announced following a landmark court settlement by the National Association of Realtors (NAR). Under the new rules that took effect on August 17, 2024, home sellers nationwide are no longer automatically expected to pay the buyer’s agent fees, which had been a standard industry practice for nearly a century. But has the NAR settlement changed the way Realtor fees are handled in South Carolina? In this post, you’ll learn who pays the Realtor fees, how agent commissions work today, and when it might make sense to cover your buyer’s agent fee. We’ll also provide a South Carolina agent commission calculator to help you decide what Realtor fees you may want to pay.
You may have seen news headlines or market reports predicting the NAR settlement would shift some Realtor costs away from sellers, as buyers would feel pressured to pay their own agent fees. But that hasn’t happened — in South Carolina or anywhere in the U.S. According to a HomeLight survey, 92% of top agents in the U.S. report that sellers are still paying their buyer’s agent commissions. Why are home sellers still covering this expense? Agents say it’s a matter of smart marketing. Higher mortgage rates and affordability challenges have impacted South Carolina’s housing landscape. In a slow or uncertain market, offering to pay the buyer’s Realtor fees and providing other concessions is a good strategy to attract offers and close your home sale. So, despite the NAR rule changes, most South Carolina sellers continue to offer to cover the buyer’s agent commission. This is especially true in South Carolina housing markets where: Based on feedback from top-rated South Carolina agents, the takeaway is clear: If you want to attract more buyers and sell faster, offering to pay the buyer’s Realtor fees remains an effective and proven strategy. So, what will the two combined Realtor fees cost you in South Carolina? Or what might just the listing agent fee look like if you decide not to offer to pay your buyer’s Realtor fees? To see ballpark estimates, use our South Carolina Real Estate Commission Calculator below. With this easy-to-use tool, you can compare different scenarios using the state’s average agent commission rates, which combined equal about 5.65% of your home’s listing price. You can also adjust the commission percentages higher or lower to see what Realtor fees you might want to negotiate. There is no law or state mandate that requires a South Carolina home seller to pay the buyer’s agent compensation. However, as HomeLight’s agent survey revealed, most sellers nationwide still offer to cover this cost for their buyers. Here’s a look at why you might want to pay both Realtor fees in South Carolina: At first glance, refusing to pay the buyer’s agent fee may seem like a money-saving move, but it can actually hurt your home’s visibility, total days on market (DOM), your sale price, and final proceeds.Who pays Realtor fees in South Carolina?
South Carolina real estate agent commission calculator
Are South Carolina sellers required to pay the buyer’s agent?
