For risk management reasons, all licensees should get into the habit of properly providing paper or e-doc or link of the SCR110 to consumers at first substantive contact. This government form SCR110 is known as the LLR SCREC SCDREBR aka the old agency brochure. https://screaltors.org/wp-content/uploads/Forms/110.pdf One way to help think of SCR110 is to think… Continue Reading SCREC LLR’s SCDREBR AKA The Old Agency Brochure
https://screaltors.org/wp-content/uploads/Forms/120.pdf The SCR120 compensation agreement has a variety of uses including but not limited to: 1. FSBO seller agrees to compensate the buyer side brokerage. 2. Listing brokerage agrees to compensate the buyer side brokerage (e.g., when the buyer side brokerage is not a participant in the listing MLS, when the buyer side brokerage has… Continue Reading Compensation Agreement SCR120
The new license law includes a 48 hour requirement for the offer rejection form: (5) If an offer is rejected without counter, an offer rejection form, promulgated by the commission, signed by the licensee affirming presentation of the offer must be provided to the offeror by the licensee within forty-eight hours of rejection, whether the… Continue Reading New License Law for Listing Agents/TB/BICs and Buyer Agents/TB/BICs – 48 hours
Hot Home Trend: Western Gothic The Wild West aesthetic adopts moody accents in this up-and-coming design palette. By: Melissa Dittmann Tracey Design & Architecture, Design Trends Powered by WPeMatico
https://www.nar.realtor/videos/window-to-the-law/updates-to-anti-money-laundering-rules https://www.nar.realtor/money-laundering-and-terrorism-financing https://www.nar.realtor/washington-report/fincen-extends-the-beneficial-ownership-rule-reporting-deadline-for-certain-entities https://www.nar.realtor/washington-report/fincen-issues-final-beneficial-ownership-access-rule https://www.fincen.gov/boi https://www.nar.realtor/washington-report/nar-engages-with-treasury-on-beneficial-ownership-matters SPE, Beneficial Ownership Filing, Special Purpose Entity Posted by: Byron King on 05/24/24 (This information is only accurate as of 05/24/24. You must contact SCR for updates and changes to this information after 05/24/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org… Continue Reading Own a Business? Register with the Feds By 2025
Instant Reaction: Mortgage Rates, May 23, 2024 The 30-year fixed mortgage rate from Freddie Mac averaged 6.94% over the last week. By: Jessica Lautz Mortgages & Home Financing Powered by WPeMatico
Insights from the 2024 Sustainability Survey The study's results suggest that the industry is right at the beginning of a “green revolution.” By: Sidnee Holmes Sustainability Powered by WPeMatico
April 2024 Existing-Home Sales Take a Step Back Housing market activity in April 2024 declined 1.9% from March, reaching a 4.14 million seasonally adjusted annual rate. By: Michael Hyman Powered by WPeMatico
Paint Firm Wants You to Give Its Worst Color a Try It’s bold, but is it beautiful? By: Melissa Dittmann Tracey Staging, Design & Architecture, Design Trends Powered by WPeMatico
https://www.scstatehouse.gov/query.php?search=DOC&searchtext=4754&category=LEGISLATION&session=125&conid=37998232&result_pos=0&keyval=1254754&numrows=10 Some excerpts on wholesaling: (44) "Wholesaling" means having a contractual interest in purchasing residential real estate from a property owner, then marketing the property for sale to a different buyer prior to taking legal ownership of the property. Advertising or marketing real estate owned by another individual or entity with the expectation of compensation… Continue Reading SC Regulates Wholesaling in New RE License Law