R
eal estate agent commissions in South Carolina can be a significant expense for homeowners, but recent changes may shift some of the burden to buyers. Understanding how commission rates work and what services you'll receive is crucial when hiring an agent.

    In South Carolina, real estate agents typically charge 5.34% of a home's sale price as their commission, with the average median-priced home costing $380,800. This translates to a total commission amount of $20,259 for both agents combined. Agents usually split this amount evenly, earning 2.67% each.

    However, commission rates can vary depending on local markets. Here are examples of commission costs in different parts of South Carolina:

    * Charleston: $608,700 home price, $32,505 total commission, $16,252 listing agent commission, and $16,252 buyer's agent commission

    * Columbia: $257,000 home price, $13,724 total commission, $6,862 listing agent commission, and $6,862 buyer's agent commission

    * Greenville: $500,442 home price, $26,724 total commission, $13,362 listing agent commission, and $13,362 buyer's agent commission

    * Savannah: $340,000 home price, $18,156 total commission, $9,078 listing agent commission, and $9,078 buyer's agent commission

    Real estate agents offer various services to buyers and sellers, including finding properties, setting up viewings, negotiating contracts, and guiding clients through the closing process. However, with recent changes in commission structures, buyers may need to pay their agent directly.

    While realtor fees can be pricey, many people find that hiring an agent is worth it due to their expertise and local market knowledge. Agents help sellers earn the most possible money from their sale and assist buyers in finding and successfully bidding on a property that meets their needs.

    If you're looking to reduce commission costs, consider negotiating with your agent or using a discount broker. Some agents may charge lower rates, while others work for flat fees instead of percentages. You can also sell by owner, but this requires performing all the tasks an agent would typically do yourself. Alternatively, selling directly to a cash homebuyer can avoid agent commissions, but you'll likely receive less money than on the open market.