The South Carolina Real Estate License Law requires real estate licensees (agents) to provide you with a meaningful explanation of Agency Relationships offered by their Company.
When encountering any licensee (whether you meet them at an Open House or a New Construction site such as Lake Carolina) or before you begin to work with a real estate licensee, the licensee should give you an Agency Disclosure Brochure.
It is important for you to know the difference between a Broker-in-Charge and associated licensees. This brochure begins the process of providing a meaningful explanation of agency.
The Broker-in-Charge is the person in charge of a real estate Company. Associated licensees may work only through a Broker-in-Charge. In other words, when you choose to work with any real estate licensee, your business relationship is legally with the Company and not with the associated licensee.
A real estate Company and its associated licensees can provide buyers and sellers valuable real estate services, whether in the form of basic customer services, or through client-level agency representation.
THERE IS A DIFFERENCE BETWEEEN BEING A CUSTOMER & A CLIENT!In Part Two of this series, I’ll discuss that difference and why you should establish your business relationship with a licensee EARLY in the process.
If you like reading this type of information, SUBSCRIBE to this blog.