Legal FAQs

Read the new license law in the link below here. Stay tuned to SCR for education on the new license law. https://www.scstatehouse.gov/query.php?search=DOC&searchtext=4754&category=LEGISLATION&session=125&conid=37998232&result_pos=0&keyval=1254754&numrows=10 Posted by: Byron King on 05/21/24 (This information is only accurate as of 05/21/24. You must contact SCR for updates and changes to this information after 05/21/24 as laws and regulations may change [...]

Thanks to the SCR CFO Alan Leichtle for compiling the hotline statistics and automating the hotline software. Thanks to the SCR hotline administrator Shantee Albin too! 1. Forms. FYI the SCR standards forms committee has been meeting and will continue working on updates to the SCR standard forms for the SC license/laws and settlement updates. [...]

Only the BIC is required to hold a business license. Associated licensees operate under their BIC's business license. Typically, a BIC will hold one or more business licenses for all jurisdictions where business is conducted in that year (e.g., a listing closes in Spartanburg, then a Spartanburg Business License and a listing closes in Greenville, [...]

https://www.scstatehouse.gov/sess125_2023-2024/bills/881.htm Posted by: Byron King on 05/15/24 (This information is only accurate as of 05/15/24. You must contact SCR for updates and changes to this information after 05/15/24 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 [...]

From NAR: These practice changes result in revisions to the MLS policy handbook which are summarized below. The revised policies will go into effect on August 17, 2024. A more detailed explanation of each practice change is available on facts.realtor. Our settlement requires NAR to implement the practice changes no later than the date of [...]

https://www.nar.realtor/advocacy/advocacy-scoop-podcast/what-has-nar-advocacy-done-for-me-lately-part-2 The Advocacy Scoop Podcast from NAR The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of [...]

Code of ethics changes In addition to voting on membership dues, NAR’s board of directors also voted to amend Article 4 of the trade group’s code of ethics, in an attempt to clarify Realtors’ obligations when they have ownership interest in a property. As these changes pertain to the code of ethics, however, they will [...]

NAR Ethics Article #4: Realtors shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s [...]

Welcome to the Advocacy Scoop, the only podcast that takes you inside the advocacy work of the National Association of REALTORS®. We’ve turned one of our most popular conference sessions into a new, monthly podcast hosted by Chief Advocacy Officer Shannon McGahn and Director of Advocacy Communications Patrick Newton. Now you can stay up to [...]

From NAR: Ahead of our upcoming REALTORS® Legislative Meetings in Washington, D.C., we wanted to share key details of the required practice changes under our Settlement Agreement. These practice changes result in revisions to the MLS policy handbook which are summarized below. The revised policies will go into effect on August 17, 2024. A more [...]