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SC Avg Real Estate Commission Rate in Florence, South Carolina

Florence is a city in Florence County, South Carolina, United States. It is probably best known for being the intersection of I-95 and I-20, and the eastern terminus of I-20. It is the county seat of Florence County and the primary city within the Florence metropolitan area. The area forms the core of the historical "Pee Dee" region of South Carolina, which includes the eight counties of northeastern South Carolina, along with sections of southeastern North Carolina. As of the 2010 census, the population of Florence was 37,056, and the estimated population in 2015 was 38,228.

Florence is one of the major cities in South Carolina. In 1965, Florence was named an All-American City, presented by the National Civic League. The city was founded as a railroad hub and became the junction of three major railroad systems, including the Wilmington and Manchester, the Northeastern, and the Cheraw and Darlington. As of today, the city retains its status as a major hub in the coastal plain region of South Carolina, both for industry and infrastructure, while establishing itself as a regional center for business, medicine, culture and finance.

 

Florence, South Carolina Average Real Estate Agent Commision 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 Florence, 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 Florence, 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…

 

ECONOMY:

During the latter part of the 20th century and early 21st century, Florence's economy was transformed from being based largely on rail and farming into a diversified economy as the major commerce, finance, rail and trucking services, health care, and industrial center of the Eastern Carolinas. There are over nine foreign affiliated companies and fourteen Fortune 500 companies in the region. The gross domestic product (GDP) of the Florence metropolitan statistical area as of 2009 was $6.8 billion, one of the highest among MSAs in the state.

Milken Institute 2008 Best Performing Cities Index showed the Florence MSA as the 5th largest gainer in their evaluation of the top 124 small metropolitan areas in the United States. The report ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary and technology growth.

Florence has blossomed into a strong center for medical care, with four major medical providers McLeod Regional Medical Center, Carolinas Hospital System, Regency Hospital and HealthSouth. The growth of these providers has led to the transformation of the Florence skyline over the last 10 years, with development for demand with multi-story high-rises as well as community relation projects.

With such a strong medical community several companies have their global, continental, or national headquarters in Florence, including General Electric Medical Systems manufacturing operations {MRI (anufacturing), TRICARE, a supplemental insurance company that serves the US Armed Forces and its civilian employees, and Assurant, a real property and personal insurance company. The city also serves the pharmaceutical industry, with a Patheon pharmaceutical manufacturing facility and research and development center for Patheon API Services.

Florence also serves as the financial and service hub for the Eastern Carolinas, with many financial and professional management institutions invested heavily within the city. Companies with regional operations and headquarters include BB&T, Monster.com, Otis Elevator, CSX Railway, Wells Fargo and Bank of America. Florence has operation headquarters for AT&T and is the southeastern headquarters of Duke Energy Inc.

Florence has benefited from being located at the intersection of I-95 and I-20, approximately halfway between New York City and Miami, Florida. The city is located 80 miles (130 km) east from the state capital Columbia, 70 miles (110 km) west from Myrtle Beach, 120 miles (190 km) North of Charleston, and 110 miles (180 km) southeast of Charlotte, North Carolina. This has allowed Florence to remain competitive and bringing in and sustaining major manufacturers such as Honda, QVC Distribution Center and Otis Elevator.

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