Home Selling in Charleston>Question Details

Odog10019, Home Seller in Charleston, SC

What is realtor's commission fee in South Carolina?

Asked by Odog10019, Charleston, SC Wed Feb 15, 2012

Is this negotiable? Is it split between seller and buyer?

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Answers

18
Hello,

It is actually against the law for agents to even discuss commission with each other. Has to do with preventing price fixing. Commission are negotiable with most companies. Each company makes their own commission policies. Most agents are limited to how much they can negotiate. They don't own the company so they cannot make company policy only abide by it.

I hope this helps, please let me know how else I can help.

Brian Walsh
843-754-2089
bwalsh@carolinaone.com
6 votes Thank Flag Link Thu Oct 11, 2012
Typically, 6% is the commission fee that comes out of the total sale price. And yes this is split between the selling and buying agent.

Commission is always negotiable, and many agents are willing to negotiate. Some are not, but that's why interviewing multiple agents from different brokerages is really important. You should "comparison shop" for Realtors.

We created UpNest to make this process a lot easier for home sellers. You just submit a few details about your property, and within 48 hours multiple agents will submit proposals for you to review. Since agents are competing, commission rates are often times adjusted to earn your business. Hope that helps!

Check us out at http://www.upnest.com

View Charleston agents: http://www.upnest.com/re/search?name=&city=charleston%2C+sc
2 votes Thank Flag Link Thu Feb 12, 2015
Anti Trust Laws prohibit specifying a fee unless you refer to something on public record. An agents fee is negotiable.
1 vote Thank Flag Link Thu Oct 11, 2012
By law, there is no set commission. We base our commission on a number of variables including the list price of the property. It is important to discuss in detail with your agent what the commission structure will be before signing any agreement with them. Remember, as with anything else, you get what you pay for!
1 vote Thank Flag Link Wed Feb 15, 2012
The typical fee is 6%. Just remember everything is negotiable! There is no legal set standard listing fee.
0 votes Thank Flag Link Mon Feb 16, 2015
The fee comes out of the sales price of the home at closing. Whatever the buyer and seller agree to is the amount the buyer pays. The seller receives a sum minus the commission and any other fees associated with the sale of the property. The commission is negotiated between the seller and the selling agent before the home is listed for sale. It cannot be negotiated by the buyer at closing.

Realtor Lee Taylor

http://charlestonhomeshowings.com/
0 votes Thank Flag Link Thu Feb 12, 2015
The fee comes out of the sales price of the home at closing. Whatever the buyer and seller agree to is the amount the buyer pays. The seller receives a sum minus the commission and any other fees associated with the sale of the property. The commission is negotiated between the seller and the selling agent before the home is listed for sale. It cannot be negotiated by the buyer at closing.

Realtor Lee Taylor

http://charlestonhomeshowings.com/
0 votes Thank Flag Link Thu Feb 12, 2015
Dear Odog10019,

All commissions are negotiable.

Typically commisions earned are split equally between the listing agent and selling agent... but the % commission with the listing contract is always negotiable.

Regards,
Maureen Cody
The Keys To Charleston LLC
0 votes Thank Flag Link Mon Apr 30, 2012
South Carolina has no set commission rate to be paid for listing a home. Individual companies may have policies regarding commission. Agents have flexibility when they list homes for past clients or sellers involved in multiple transactions. Commissions are negotiated between the seller and agent. The total commission paid by the seller includes the portion paid to the buyer's agent. The listing agent determines what commission is offered in MLS to the buyer' agent. Sellers pay commission at the time of closing.
0 votes Thank Flag Link Wed Feb 15, 2012
the short answer for you is they are negotiable.
Good Luck to you!
Edith YourRealtor4Life! and Chicago and Northern Illinois Expert
Working always in the very Best interest of her clients
0 votes Thank Flag Link Wed Feb 15, 2012
There is no SET commission in South Carolina. That fee is determined by the company that you are working with. Some may charge more or less than others. However, some companies/agents offer more service and beneifts than others and there may be value in paying a higher commission. Just as some companies sell more homes, agents within that company also sell more homes than others. It is important that you compare and make sure you are getting what you pay for.
0 votes Thank Flag Link Wed Feb 15, 2012
If selling, commissions are always negotiable between you and your agent, there are no set standards; therefore interview in person a few local agents from different realty companies, then choose the one you like best and who has the most to offer; choose your agent with care, and not by commission alone. If two agents are involved in the sale, the fee is shared.
0 votes Thank Flag Link Wed Feb 15, 2012
There is no set commission rate, though you'll likely find it ranges between 5-6%. This fee is then split between the listing agent and their firm and the Buyers agent and their firm.

I would suggest that focusing solely on the amount of the commission is not necessairly in your best interest. What's most important is the market and support you'll receive from the agent and company you list with. While I'm sure you could find someone willing to put it in the local MLS for you for $500+/- that's all they would do and even then you can rest assured they won't do a stellar job of that.

As a Seller your primary concern should be on getting the maximum exposure you can for your home. Will your agent hire a professional photographer to shoot pictures, do they do virtual tours, you should check them out on Trulia, Zilow and Realtor.com to see how well they represent themselves. Let's be honest if their not representing themselves well, how well are they going to represent your home?

Finally commission rates like everything else are negotiable between you and your agent, though in my experience the best agents don't negotiate, they know their worth what they charge and are able to show you why.

Best of luck to you, I hope you find yourself a great agent.
0 votes Thank Flag Link Wed Feb 15, 2012
Thank you for giving me the opportunity to provide you with information!

In South Carolina, there is no "set" or "common" commission rate for listing a home for sale. There is often flexibility from one home to the next since agents will sometimes give a seller a break if the seller is also purchasing another property through the agent or if the seller has done multiple transactions with the agent. That is not always the case though and as with so many other things in real estate, it just depends. Over the last couple of years, I have looked at each client's circumstances to determine the commission on the listing side since many sellers are having a difficult time. Also know that the total commission paid by the seller includes a portion that is paid to the buyer(s) agent. All commissions are paid at the closing table in most cases.

I hope that this has been helpful! If I can be of assistance to you, do not hesitate to contact me at 843-442-2219 or e-mail me at cflowers@woodsflowers.com.

Have a wonderful day!

Cheryll
0 votes Thank Flag Link Wed Feb 15, 2012
Commissions are traditionally negotiated between the seller and the listing agent with the understanding that it will be split with the selling/buyer's agency at settlement. If a buyer's agent has a buyer for a FSBO, the commission can be negotiated between the agent and seller before the property is shown. If a FSBO will not pay a real estate commission to the buyer's agent, then in some cases, the buyer would be responsible for the agent's commission.
Generally, in our area, when you hire a buyer's agent your agent will be paid at the closing from the proceeds of the transaction, but some buyer's agents utilize an up front "showing fee" that it is refundable when you purchase a property.
Don't hesitate to ask if you have any further questions about this or maybe another real estate question.

All the best,
Marcia Wray
Carolina One Real Estate
843-200-2199
mwray@carolinaone.com
0 votes Thank Flag Link Wed Feb 15, 2012
There is no set commission rate set for Real Estate Agents in the state of South Carolina. Everything is negotiable! However, most Real Estate Agents will charge a 6% commission that gets paid out of the transaction by the seller. The agent does not get all of that money though. That 6% commission gets split several ways to pay for the listing agents services, the buyers agents services, brokerage fees, etc.... Many homeowners are under the impression that all of the commission fee goes straight to the listing agent. This is not correct. I hope this helps! Call me at (843)789-9860 and I'd be happy to discuss any other questions you may have!
0 votes Thank Flag Link Wed Feb 15, 2012
It's usually 6% which means 3% for the listing agent and 3% for the buyers agent but I have been known to reduce my side if it helps in the transaction for special circumstances. I believe in good customer service and know that it will pay off in the long run! Donna Evans 843-568-3948
0 votes Thank Flag Link Wed Feb 15, 2012
Thank you for finally giving a definitive answer. I buy, renovate and then sell houses. The commission was always 6% at the beginning with my agent. After several houses bought & sold by him, the broker in charge finally allowed him to reduce it to 5% with him getting 2% and the buyer's agent getting 3%. All the dancing around with these answers gives the impression that the seller has some control. That is unlikely unless there are problems with the sale or a contract is about to fall through. Thanks for an honest answer.
Flag Tue Nov 11, 2014
Does this apply to land sales too?
Flag Tue Feb 18, 2014
Yes it is negotiable.It is depends on the contract. Thank you.
0 votes Thank Flag Link Wed Feb 15, 2012
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