South Carolina real estate commission rates are around 5.94%, according to a survey conducted by FastExpert. This is higher than the national average real estate commission rate of 5.57%. Using this information – and the average home value in some of South Carolina’s largest cities – we will help you understand how much money you may make as a real estate agent in SC.
Keep reading to learn how real estate agents make money. You’ll learn how commissions are calculated, how they are shared between agents and their brokerages, and how commission rates vary by property type.
How Real Estate Agent Commission Works in South Carolina
Most real estate agents work solely on commission, which is based on the property’s sale price. This commission system has been in place in the U.S. since the 1950s and, despite recent headlines, continues to be the way real estate agents are paid.
You’ll share your commission with the brokerage company you work for – typically with either a fixed or graduated commission split.
Regardless of your exact commission rate, the more you sell as a real estate agent, the more you earn! This ability to maximize your earnings may be one reason you were drawn to the real estate industry.
Now, let’s examine how a real estate commission in South Carolina is calculated.
How is real estate commission in South Carolina calculated?
As a real estate agent, you will sign a contract with your clients that says you will provide services for a specific commission rate. Once the transaction is complete, that percentage is multiplied by the sale price. That money is then divided among the buyer’s agent, seller’s agent, and each agent’s brokerages.
Let’s plug in real numbers so you understand how much real estate agents earn on an average sale in South Carolina.
According to Zillow, the average home value in South Carolina is currently $287,063. Since SC’s average negotiated commission rate is 5.94%, real estate professionals will receive $17,052 for services related to the average real estate transaction.
Who pays the real estate commission in South Carolina?
The seller typically pays the real estate commission in South Carolina. Usually, the REALTOR® fees are deducted from the proceeds the seller makes when the transaction is finalized at closing.
Does the real estate commission rate in South Carolina fluctuate over time?
The real estate commission rate has remained relatively steady in the U.S. since the 1950s– around 6%. Even with recent lawsuits, it is not expected that commission rates will change soon.
Average Real Estate Commission Rate in South Carolina
The average real estate commission rate in South Carolina is 5.94%. However, knowing the average commission rate is the first step to understanding how much money you will make as a real estate agent.
Average South Carolina real estate commission rate by city
Below is the average home value in South Carolina’s ten most populated cities. Based on a 5.94% commission rate, here’s how much real estate professionals earn by selling an average South Carolina property.
Average Real Estate Commission for 10 South Carolina Cities
| City | Average Home Value | 5.94% Real Estate Commission |
| Columbia, SC | $220,612 | $13,104 |
| Charleston, SC | $531,165 | $31,551 |
| North Charleston, SC | $293,494 | $17,433 |
| Mount Pleasant, SC | $776,796 | $46,142 |
| Rock Hill, SC | $311,691 | $18,514 |
| Greenville, SC | $295,094 | $17,529 |
| Summerville, SC | $373,310 | $22,175 |
| Sumter, SC | $178,966 | $10,631 |
| Hilton Head Island, SC | $741,529 | $44,047 |
| Florence, SC | $204,681 | $12,158 |
| Sumter, SC | $178,966 | $10,631 |
Source for Average Home Value: Zillow. December 2023
This 5.94% real estate commission is typically split four ways – among the buyer’s and seller’s agents and their brokerages.
Average South Carolina real estate commission rate by property type
So far, we have focused on the commissions you can expect when assisting with residential real estate transactions. However, when you become a real estate agent, you may choose to focus on a different niche, such as commercial real estate or fix and flip properties.
Commercial real estate commissions vary. Some use the same 6% commission rate that you typically find in the residential real estate world. However, some commercial commissions are graduated (5% up to $1M, 4% of $1M-$5M, for example). Finally, some commercial real estate agents negotiate a transaction for a flat fee.
If you decide to focus on South Carolina commercial real estate, seek a brokerage that focuses on this niche and take as many continuing education courses and specialized training as possible to better serve this segment of the industry.
How Is the Commission Divided Between Agents?
The 5.94% real estate commission earned from each real estate transaction is shared among four entities: the seller’s agent, the buyer’s agent, and their respective brokerages. The seller’s agent typically sets the buyer’s agent’s commission. The brokerage commission depends on the real estate agent’s contracted agreement with their brokerage.
Here’s an example of how a 5.94% commission may be divided in South Carolina.
Example of How Real Estate Commission Splits Work in South Carolina for a $287,063 Property
| Item | Amount |
| Sale Price of home | $287,063 |
| Total commission paid to real estate professionals | $17,052 |
| Seller’s agent commission (based on a 50/50 split) | $4,263 |
| Seller’s agent’s brokerage commission | $4,263 |
| Buyer’s agent commission (based on a 50/50 split) | $4,263 |
| Buyer’s agent’s brokerage commission | $4,263 |
These numbers give you some understanding of how much income you may expect to make working as a real estate agent in South Carolina. Remember, as a real estate agent, you must also pay quarterly income taxes from these commissions.
Does this data make you excited to become a real estate agent in South Carolina? Being a REALTOR® is a rewarding profession with unlimited income potential. The sooner you start the licensing process, the faster you can get started helping your clients make their real estate dreams come true.
When you’re ready to start your pre-licensing courses, turn to Colibri Real Estate. Colibri Real Estate (formerly Real Estate Express) is a leading real estate school in South Carolina (and the rest of the country). Colibri Real Estate offers online, take-at-your-own-pace classes that will help you pass your real estate exam and confidently serve your clients.
Once licensed, you can turn to Colibri Real Estate for career guidance and continuing education courses.
Learn more about the South Carolina pre-licensing process. Then, when you are ready, enroll in the 90-hour Colibri Real Estate licensing course for South Carolina.
Sources:
- Matarazzo, Steph. “Average Real Estate Agent Commissions by State (2023 Survey).” FastExpert. October 26, 2022. https://www.fastexpert.com/blog/real-estate-agent-commissions-by-state.
- Schneider, Franklin. “Real Estate Agents Aren’t Worried About the NAR Commission Lawsuit; Here’s Why.” MSN. Accessed December 13, 2023. https://www.msn.com/en-us/money/realestate/real-estate-agents-aren-t-worried-about-the-nar-commission-lawsuit-here-s-why/ar-AA1lcqPq.
- “South Carolina Home Prices & Home Values.” December 13, 2023. Zillow. South Carolina Home Prices & Home Values | Zillow
