Legal FAQs

July 9-10, Anticipate SCR forms to Update on SCREALTORS.ORG SCR licensed forms vendors will update as their USA workload allow. Lots of associations and brokerages and MLS are updating their forms libraries. Please find below a full list of the forms that are updating. 120(Compensation Agreement) 130(Exclusive Right to Buy Buyer’s Agency) 135(Exclusive Agency Buyer… Continue Reading July 9-10, Anticipate SCR forms to Update on SCREALTORS.ORG

"This market analysis or price opinion may not be used for the purposes of obtaining financing in a federally related transaction". (also consider using this language too) THIS IS NOT AN APPRAISAL. THIS IS A BROKER PRICE OPINION OR A COMPARATIVE MARKET ANALYSIS This information is only accurate as of 07/09/24. You must contact SCR… Continue Reading Doing a BPO, CMA, RPR? Upfront disclose this language!

A Buyer Agreement Is the Key to Touring Listings (Virtual/Physical). If your brokerage has the listing, you can represent the seller and show the open house to customer buyers without a buyer agreement, but always at first substantive contact with a consumer properly handle the SCR110 Real Estate Brokerage Relationship form where you explain your… Continue Reading A Buyer Agreement Is the Key to Touring Listings (Virtual/Physical)

In mid 2024, your REALTOR® exemption from appraisal licensing requirements for your BPO, CMA, and RPR work was updated: Old language: SC Code 40-60-30 excerpt: 1) A real estate licensee licensed in accordance with Chapter 57, Title 40 who performs a market analysis or gives an opinion as to the price of real estate on… Continue Reading RPR BPO CMA…NOT AN APPRAISAL

From Dirt: The EPA has expanded the reach of CERCLA. On April 19 it added two man-made chemicals, PFOA and PFOS (perfluorooctanoic acid and perfluorooctane sulfonate) to the list of hazardous substances covered by CERCLA. These chemicals have been used to make non-stick coatings on cookware and protective coatings for carpets and fabrics. They have… Continue Reading EPA CERCLA Update

Seller Concessions Remain Legal AKA Seller Paid Buyer's Transaction Costs in SCR310 Contract This information is only accurate as of 07/08/24. You must contact SCR for updates and changes to this information after 07/08/24 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… Continue Reading Seller Concessions Remain Legal AKA Seller Paid Buyer’s Transaction Costs in SCR310 Contract

An AI Haiku to SCR120 The Compensation Agreement Form one-twenty's grace, REALTOR's steadfast ally, Deals sealed with ease, trust. This information is only accurate as of 07/08/24. You must contact SCR for updates and changes to this information after 07/08/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org… Continue Reading SCR120 Compensation Agreement, the REALTOR’s Best Friend, A Haiku

Starting in July, BICs should be checking with LLR that all their associated licensees have an active license (e.g., renewed their license by June 30 in 2024 or 2025) and check that your independent contractor agreement and compensation agreements are updated and properly documented/executed. [Consider using a separation agreement for future planning when a licensee moves… Continue Reading July: BICs Check Your Licensees and Independent Contractors

https://learning.realtor/diweb/catalog/item?id=14710754&_gl=1*1sit6xs*_gcl_au*MjAyNjk4MDAyMC4xNzE1MTkwODE5*_ga*MTI2NzE0MzQ5NS4xNjczOTY2MTcy*_ga_QEF4X2SGP1*MTcxODM4NzQ4MS4xMzkuMS4xNzE4Mzg3NTAxLjQwLjAuMA. This information is only accurate as of 07/02/24. You must contact SCR for updates and changes to this information after 07/02/24 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 information is intended only to provide… Continue Reading NAR Home Finance Resource Designation

https://crd.realtor This information is only accurate as of 07/02/24. You must contact SCR for updates and changes to this information after 07/02/24 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 information is intended only to provide… Continue Reading Center for REALTOR Development CRD, ABR elective courses