Legal FAQs

(D)(1) A broker-in-charge or property manager-in-charge shall for a minimum of five years maintain and furnish to the commission upon request a written copy, when applicable, of a: (a) lease; (b) contract of sale and any addenda; (c) listing contract or buyer agency agreement; (d) transaction broker agreement; (e) option contract; (f) property management agreement;… Continue Reading License Law on Records (Storage/Time/Electronic/Copy/Backup)

***When using LLR seller disclosure forms, Sellers failing to accurately disclose all the owners association charges to the buyer will expose the sellers to a buyer lawsuit suing the sellers for the buyer's damages (aka the undisclosed owners association charges/fees/assessments/arrearages/etc.) AND THE BUYER'S ATTORNEY FEES (which could dwarf the charges).*** http://www.llr.state.sc.us/POL/REC/RECPDF/Residential%20Property%20Condition%20Disclosure%20Statement%20Addendum.pdf Here is the language… Continue Reading Sellers Should Disclose ALL Owners’ Association Fees/charges/arrearages/assessments/etc. When Completing the LLR Seller Disclosure and HOA Addendum

If you have a website, then read this from NAR: http://realtormag.realtor.org/daily-news/2018/04/25/how-comply-new-data-security-rules?tp=i-H43-Bb-21F-321DW-1p-A5BZ-1c-32CN5-zmEMe&om_rid=44810346&Om_ntype=RMOdaily&om_mid=7765 How to Comply With New Data Security RulesDAILY REAL ESTATE NEWS | WEDNESDAY, APRIL 25, 2018 The effects of a European Union rule that aims to strengthen data privacy and security will be far-reaching, having implications for how businesses across the world—including U.S. real… Continue Reading New Rules for Websites Per NAR

Because REALTORS® can face ethics complaints and license law complaints and lawsuits for interfering with another brokerage member's clients (e.g. buyer clients, seller clients, landlord clients, tenant clients, buyer transaction brokerage consumers, seller transaction brokerage consumers, landlord transaction brokerage consumers, tenant transaction brokerage consumers), it may be in your own best risk management interests to… Continue Reading Risk Management – Dealing with Consumers, Talk to Them, Ask Questions…

Learn how to help your business plan by serving consumers with disabilities even better. http://realtormag.realtor.org/news-and-commentary/feature/article/2018/03/better-service-for-clients-disabilities April is Fair Housing Month. Posted by : Byron King on 4/24/18 (This information is only accurate as of 4/24/18. You must contact SCR for updates and changes to this information after 4/24/18 as laws and regulations may change over… Continue Reading Serving Clients with Disabilities (New Market for You?): Fair Housing

SECTION 39-1-90. Breach of security of business data; notification; definitions; penalties; exception as to certain banks and financial institutions; notice to Consumer Protection Division. (A) A person conducting business in this State, and owning or licensing computerized data or other data that includes personal identifying information, shall disclose a breach of the security of the… Continue Reading Protect Data and Disclose Data Breach ASAP Or Be Sued

Be very careful of clicking any links or opening any attachments. You can put yourself in the predicament of paying organized criminals in bitcoin to get your computer working again. http://realtormag.realtor.org/daily-news/2018/04/10/two-ways-reduce-your-firm-s-liability-risk Posted by : Byron King on 4/24/18 (This information is only accurate as of 4/24/18. You must contact SCR for updates and changes to… Continue Reading Must Read If You Use Email

In general, the NAR trademark can be used with a member's name. So if your name is Jane Smith and you are a member then using JSmith.realtor is acceptable. The usual misuse is using an adjective with the trademark term. Misuse: SouthCarolinaBestREALTOR https://www.nar.realtor/membership-marks-manual The Same Rules Apply to Use of the MARKS on the Internet… Continue Reading Membership Trademark Logo/Term REALTOR

Use SCR311 due diligence addendum and write in a number of business days for the due diligence period (e.g. 10 business days after the effective date). Using SCR310 residential contract, Section 5 Earnest Money state the earnest money amount shall be paid within a number of business days in excess of the due diligence period… Continue Reading One Idea to Avoid Earnest Money Disputes

Here is the typical legal hotline response to surveillance in listings (cameras and microphones). First, this issue is not settled in statute nor case law. So, proper disclosure of surveillance (audio/visual) is a way to help manage risk and help avoid becoming the test case. SCR posts a sign that premises are under visual/camera surveillance.… Continue Reading Behave in Listings! Or Else! Buyers/Tenants/REALTORS(R)/Sellers/Landlords/Inspectors