Legal FAQs

https://llr.sc.gov/re/FAQ_Renewal.aspx (C) A license only may be renewed in accordance with procedures established by the commission pursuant to Section 40-1-50(D). A licensee is responsible for renewing his license whether or not he receives notice. (D) A license that is not renewed before its expiration date lapses. Further practice may be sanctioned as unlicensed practice and… Continue Reading New License Law: License Renewals Running April 1 to June 30

(B) If after an investigation, charges of a violation are brought against a licensee, the broker-in-charge or property manager-in-charge must be notified of the charges. In the event a supervised licensee is noticed for a formal complaint hearing or otherwise appears before the commission to resolve the charges, the broker-in-charge or property manager-in-charge of record… Continue Reading New License Law: BIC: Attend LLR SCREC Hearings Alongside Your Associated Licensee Respondent

(7) "Broker-in-charge" means the sole broker designated by the commission to have responsibility over the actions of all supervised licensees. A broker-in-charge is responsible for: (a) the day-to-day management of the brokerage firm; (b) the control and liability for a real estate trust account; and (c) ensuring compliance with all applicable laws and regulations. The… Continue Reading New License Law: Reminder that the BIC is Responsible for their Brokerage

https://www.youtube.com/watch?v=Pht4r8RX3_I Posted by: Byron King on 05/30/24 (This information is only accurate as of 05/30/24. You must contact SCR for updates and changes to this information after 05/30/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR on the Unauthorized Practice of Law

https://www.youtube.com/watch?v=bcK-ox4NmeU Posted by: Byron King on 05/30/24 (This information is only accurate as of 05/30/24. You must contact SCR for updates and changes to this information after 05/30/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR on Post Settlement Compensation

Title 30 - Public Records CHAPTER 2 Family and Personal Identifying Information Privacy Protection ARTICLE 1 The Family Privacy Protection Act https://www.scstatehouse.gov/code/t30c002.php SECTION 30-2-50. Obtaining personal information from state agency, local government, or other political subdivision for commercial solicitation; penalty. (A) A person or private entity shall not knowingly obtain or use personal information obtained… Continue Reading Do Not Use Public Records for Commercial Solicitation

https://www.youtube.com/watch?v=iBe7diWw5kQ Posted by: Byron King on 05/30/24 (This information is only accurate as of 05/30/24. You must contact SCR for updates and changes to this information after 05/30/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading 2024 New License Law, SCR Video: Some Important Parts

An important SC update for your colleagues and closing attorneys and title insurers as SC seeks to remedy a growing statewide title issue and legal issues that was impacting consumers. https://www.scstatehouse.gov/query.php?search=DOC&searchtext=881&category=LEGISLATION&session=125&conid=42195246&result_pos=0&keyval=1250881&numrows=10 NOTE: THIS IS A TEMPORARY VERSION. THIS DOCUMENT WILL REMAIN IN THIS VERSION UNTIL FINAL APPROVAL BY THE LEGISLATIVE COUNCIL. (A165, R191, S881) AN… Continue Reading NTRAPS Unfair Real Estate Service Agreements

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