Legal FAQs

SC Attorney General Office Opinion: How REALTORS® can use term "value" in BPO, CMA...RPR https://www.scag.gov/media/hajdgdum/03108184.pdf This SC AG opinion letter discusses a cease and desist letter sent to a real estate licensee from LLR SC Appraisers Board regarding the use of the term "value" in an RPR report. Posted by: Byron King on 09/22/22 (This… Continue Reading SC Attorney General: How REALTORS(R) can use term “value” in BPO, CMA…RPR

Media report an alleged attack on a real estate agent in Warrenton SC. https://www.nar.realtor/safety/realtor-safety-network Local law enforcement states that your mobile phone is one of your best defenses to call and then use avoidance, escape, and evasion to buy time for law enforcement to react to your 911 call. Give directions based on landmarks to… Continue Reading September is REALTOR(R) Safety Month

Ethics Case 8-1 You decide! Case #8-1: Failure to Put Deposit in Separate Account NAR Code of Ethics Article #8 https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics https://www.nar.realtor/code-of-ethics-and-arbitration-manual/case-interpretations-related-to-article-8 REALTOR® A, a listing broker, obtained a signed offer to purchase, together with Buyer C’s check for $10,000 as an earnest money deposit. Buyer C’s offer was subject to the sale of his… Continue Reading Ethics Case # 8-1 … You Decide!

To LLR Report the Unauthorized Practice of Real Estate: https://eservice.llr.sc.gov/Complaints/POL/POLProcessBoardInfoUnlicense LLR on Wholesaling and License Law: https://llr.sc.gov/re/RECPDF/RECNews-May2022.pdf Posted by: Byron King on 09/06/22 (This information is only accurate as of 09/06/22. You must contact SCR for updates and changes to this information after 09/06/22 as laws and regulations may change over time. SCR 803-772-5206 or… Continue Reading To LLR Report the Unauthorized Practice of Real Estate

SCR has received reports from members suggesting that everyone needs to review their insurance periodically with their insurance providers, especially homeowners insurance regarding inflationary pressures that may have increased the real world cost to replace a home in the event that catastrophic damage occurs to the home. Other insurance to review, earthquake, flood, health, life,… Continue Reading Insurance, Review

Photographs on the internet/MLS are easy to cut/copy and paste. But cutting/copying and pasting photos you find on the internet/MLS can get you into trouble. Photographs are intellectual property (content) generally owned by the creator who can transfer or license ownership to others. Think about copyright law and lawsuits. If you did not take the… Continue Reading Photographs, Be Wary of Using Unless You Took or You Have Authorization

After the Surfside condo collapse, the feds created some risk management using Fannie and Freddie lending which may impact your condo deals (e.g., risk management questionnaire). Please contact SCR if you have reports of condo purchase issues related to these risk management rules (e.g., the HOA is hesitant to complete the risk management questionnaire, multistory… Continue Reading NAR on Condo Questionnaire Issues from the Feds

South Carolina Association of REALTORS® (SCR) Forms Policy Permitted users of SCR’s standard forms SCR standard forms should only be used by REALTOR® members of the South Carolina Association of Realtors®. Revisions to format/pre-printed language of a standard form by user Revisions to the format or pre-printed content of any standard forms are prohibited. Permitted… Continue Reading Current SCR Forms Policy

SCR310 is an AS IS contract with a due diligence section and an inspection/reinspection section to allow a buyer the option to inspect the property and properly negotiate repairs or negotiate seller concessions or terminate. Also, SCR310 allows final inspections. https://screaltors.org/wp-content/uploads/Forms/310.pdf Some buyer agents recommend obtaining all inspections and the buyers decide which inspections to… Continue Reading Buyers Forego Inspections at Their Own Peril!

At a recent BICs meeting, the lack of professionalism in the marketplace was a common complaint. #1. Listing agents not acknowledging receipt of offers for extended periods of time (e.g., 1 week, 3 weeks) was a common complaint. Professionalism is a two way street so some listing brokerages recommended that buyer agents also increase their… Continue Reading Be Professional!