What are the laws governing real estate brokers?

In South Carolina, real estate brokers must abide by state laws in order to practice legally. According to the South Carolina Board of Realtors, in order to be a licensed real estate broker, the individual must be a US citizen, have a valid Social Security number, be at least 18 years old, and have either a high school diploma or GED. Furthermore, the individual must complete a 60-hour pre-licensing course approved by the South Carolina Real Estate Commission, pass the South Carolina Real Estate Brokerage Exam, and have a sponsoring broker. Once the individual meets these requirements, the sponsoring broker must submit an application to the South Carolina Real Estate Commission. The application must include the individual’s personal information, proof of high school diploma, and proof of successful completion of the pre-licensing course. It is important to note that brokers in South Carolina are also expected to comply with the South Carolina Real Estate License Law and Regulations, commonly known as the Broker-in-Charge Law. This law sets forth specific duties and responsibilities of the broker-in-charge, including keeping accurate records of all transactions, maintaining proper trust accounts, and notifying the Commission of any changes in the broker-in-charge’s status. Failure to comply with South Carolina’s laws governing real estate brokers can result in disciplinary action, including revocation of licensing privileges. Therefore, real estate brokers in South Carolina must act responsibly and in accordance with state law.

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What are the laws governing real estate brokers?

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