That Standard of Practice 12-1 be amended as follows, (underscoring indicates additions, strikeouts indicate deletions):
Unless they are receiving no compensation from any source for their time and services, REALTORS® may use the term “free” and similar terms in their advertising and in other representations only if they clearly and conspicuously disclose:
1) by whom they are being, or expect to be, paid;
2) the amount of the payment or anticipated payment;
3) any conditions associated with the payment, offered product or service, and; 4) any other terms relating to their compensation. (Amended 1/20)
REALTORS® must not represent that their brokerage services to a client or customer are free or available at no cost to their clients, unless the REALTOR® will receive no financial compensation from any source for those services. (Amended 1/22 1/21)
Posted by: Byron King on 11/29/21 (This information is only accurate as of 11/29/21. You must contact SCR for updates and changes to this information after 11/29/21 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 general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.