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SC home showings almost fully recover from steep decline during virus-induced shutdown

Home showings

Home showings across South Carolina have rebounded considerably from the steep decline in mid-April to almost pre-pandemic levels. File/Staff

Home showings across South Carolina have almost fully recovered from the steep decline in mid-April during the coronavirus pandemic and the economic shutdown.

Showings reflect interest in the residential real estate market and can often lead to sales, though it's widely known the numbers can be skewed a bit by one person looking at multiple properties and then not buying anything.

Still, they offer a glimpse of interest in the homebuying market.

In South Carolina by late Wednesday, home showings were off less than 4 percent from this time last year, according to the ShowingTime Showing Index.

Showings have rocketed back from April 12 when they were down 71 percent as the government ordered people to stay home and businesses to close to help stem the virus' spread. For the entire month of April in the Charleston area, showings dipped an average of almost 25 percent.

Showings have steadily climbed back since Easter weekend, both in the Palmetto State and nationwide. In the U.S. and parts of Canada, they were off about 10 percent last week from this time last year and continue to trend upward toward pre-pandemic levels.

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Agent stimulus

The local office of a national real estate firm has adjusted its financial model to help agents during the coronavirus outbreak.

Keller Williams' economic model is unique in that agents pay a split on each transaction, up to a specific dollar amount, of their commissions earned each year.

The dollar amount is a predetermined figure. Once that amount is hit, the agents reach their cap and then begin receiving 100 percent of their commissions for the remainder of the calendar year.

Earlier this month, the Keller Williams Charleston offices lowered that specific dollar amount by 25 percent, allowing agents to reach their cap sooner.

In addition, an adjustment in the split agents pay to the office on each transaction will be made.

"The benefit is clear and double-pronged: the agent is now going to reach their 100 percent take-home faster than before while simultaneously bringing more money home in each paycheck," the local office said in a statement. "The aim is to ... put agents first and help them build a business that will adapt, sustain and then thrive during uncertain times."

Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.

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