Wednesday, July 2, 2008

Columbia SC Real Estate Agency Laws – Agency Relationships

This is Part One of a past series of posts that will attempt to perform one of my legal obligations to you. Today…let’s talk about real estate laws and how they impact you.

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.


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.

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