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SC Avg Real Estate Commission Rate in Columbia, South Carolina

Columbia is the capital and second largest city of the U.S. state of South Carolina, with a population estimate of 134,309 as of 2016. The city serves as the county seat of Richland County, and a portion of the city extends into neighboring Lexington County. It is the center of the Columbia metropolitan statistical area, which had a population of 767,598 as of the 2010 United States Census, growing to 817,488 by July 1, 2016, according to 2015 U.S. Census estimates. The name Columbia is a poetic term used for the United States, originating from the name of Christopher Columbus.

The city is located approximately 13 miles (21 km) northwest of the geographic center of South Carolina, and is the primary city of the Midlands region of the state. It lies at the confluence of the Saluda River and the Broad River, which merge at Columbia to form the Congaree River. Columbia is home to the University of South Carolina, the state's flagship university and the largest in the state, and is also the site of Fort Jackson, the largest United States Army installation for Basic Combat Training. Columbia is also located 20 miles west of the site of McEntire Joint National Guard Base, which is operated by the U.S. Air Force and is used as a training base for the 169th Fighter Wing of The South Carolina Air National Guard. Columbia is also the location of the South Carolina State House, which is the center of government for the state. In 1860, the city was the location of the South Carolina Secession Convention, which marked the departure of the first state from the Union in the events leading up to the Civil War.

 

Columbia, South Carolina Average Real Estate Agent Commission Rate Fees:

A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Columbia, South Carolina. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26% *

In Columbia, South Carolina, you will find the following real estate commissions charged*:

Typical Asking Commission: 6.0%

Competitive Commission: 5.0%-5.5%%

Very Competitive Commission: 4.5%-4.99%

The median existing single-family home price in the South rose 6.7%, to $229,400, in the second quarter of 2017 compared to the the second quarter of 2016.  Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:

In the State of South Carolina, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Charleston-North Charleston $277,700 6.80%
Charlotte-Concord-Gastonia, NC-SC $234,300 7.40%
Columbia $165,400 -0.10%
Florence $136,400 -6.00%
Greenville-Anderson-Mauldin $197,400 5.00%
Myrtle Beach-Conway-North Myrtle Beach $206,300 5.60%
Spartanburg $160,300 10.10%
 
IMPORTANT

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home.  In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent.  Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”.  This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client.  This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

 

AGENTS ARE READY TO BID THEIR COMMISSION RATE TO GET YOUR LISTING

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business.  These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm.  This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in South Carolina.

 

ARE YOU BUYING IN THE SAME AREA, TOO?

Sellers who are also buying a home in the same local market have a volume discount advantage.  ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home.  Be sure to check the box that you are also buying a home locally to receive these better rates.

 

ARE YOU READY TO RECEIVE COMPETITIVE COMMISSION RATE BIDS?

Click here to see your savings in just 24 hours…

 

DEMOGRAPHICS:

As of the census of 2010, there were 129,272 people, 52,471 total households, and 22,638 families residing in the city. The population density was 928.6 people per square mile (358.5/km²). There were 46,142 housing units at an average density of 368.5 per square mile (142.3/km²). The racial makeup of the city was 51.27% Non-Hispanic White, 42.20% Black, 2.20% Asian, 0.25% Native American, 0.30% Pacific Islander, 1.50% from other races, and 2.00% from two or more races. Hispanic or Latino of any race were 4.30% of the population.

There were 45,666 households out of which 22.4% had children under the age of 18 living with them, 28.7% were married couples living together, 17.1% have a female householder with no husband present, and 50.4% were nonfamilies. 38.0% of all households were made up of individuals and 8.9% had someone living alone who was 65 years of age or older. The average household size was 2.18 and the average family size was 2.94.

In the city, the population was spread out with 20.1% under the age of 18, 22.9% from 18 to 24, 30.1% from 25 to 44, 16.6% from 45 to 64, and 10.3% who were 65 years of age or older. The median age was 29 years. For every 100 females there were 96.2 males. For every 100 females age 18 and over, there were 93.4 males.

The median income for a household in the city was $31,141, and the median income for a family was $39,589. Males had a median income of $30,925 versus $24,679 for females. The per capita income for the city was $18,853. About 17.0% of families and 22.1% of the population were below the poverty line, including 29.7% of those under the age of 18 and 16.9% ages 65 or older.

 

ECONOMY:

Columbia enjoys a diversified economy, with the major employers in the area being South Carolina state government, the Palmetto Health hospital system, Blue Cross Blue Shield of South Carolina, Palmetto GBA, and the University of South Carolina. The corporate headquarters of Fortune 1000 energy company, SCANA, are located in the Columbia suburb of Cayce. Other major employers in the Columbia area include Computer Sciences Corporation, Fort Jackson, the U.S. Army's largest and most active initial entry training installation, Richland School District One, Humana/TriCare, and the United Parcel Service, which operates its Southeastern Regional Hub at the Columbia Metropolitan Airport. Major manufacturers such as Square D, CMC Steel, Spirax Sarco, Michelin, International Paper, Pirelli Cables, Honeywell, Westinghouse Electric, Harsco Track Tech, Trane, Intertape Polymer Group, Union Switch & Signal, FN Herstal, Solectron, and Bose Technology have facilities in the Columbia area. There are over 70 foreign affiliated companies and fourteen Fortune 500 companies in the region. The gross domestic product (GDP) of the Columbia metropolitan statistical area as of 2010 was $31.97 billion, the highest among MSAs in the state.

Several companies have their global, continental, or national headquarters in Columbia, including Colonial Life & Accident Insurance Company, the second-largest supplemental insurance company in the nation; the Ritedose Corporation, a pharmaceutical industry services company; AgFirst Farm Credit Bank, the largest bank headquartered in the state with over $30 billion in assets (the non-commercial bank is part of the Farm Credit System, the largest agricultural lending organization in the United States which was established by Congress in 1916); South State Bank, the largest commercial bank headquartered in South Carolina; Nexsen Pruet, LLC, a multi-specialty business law firm in the Carolinas; Spectrum Medical, an international medical software company; Wilbur Smith Associates, a full-service transportation and infrastructure consulting firm; and Nelson Mullins, a major national law firm. CSC's Financial Services Group, a major provider of software and outsourcing services to the insurance industry, is headquartered in the Columbia suburb of Blythewood.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Columbia - South Carolina