South Carolina Licensing Representation Agreement
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How to fill out Licensing Representation Agreement?
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FAQ
Yes, you can apply for a South Carolina real estate salesperson license even if you live in another state. You must still comply with all the requirements of resident licenses. If you hold a license in another state, you will need to pass the SC law portion of the state license and be exempt from the 60-hour unit I.
Referral fees become unlawful kickbacks when they are involved in a fee-generating home sale. Typically, a broker or agent earns fees as a result of services rendered here, the only service rendered in exchange for the referral fee is, well, the referral. But why are kickbacks against the law, anyway?
Yes, referral fees are legal, but only within certain industries. Most other industries also don't pose any requirements in order for a company to implement referral fees. However, since referral fees are not legal for all industries, you'll need to do some research to make sure you don't set up an illicit system.
§ 2607 (2005), prohibits kickbacks and unearned fees, including any fee, kickback, or thing of value being given to or received by anyone in any business that is incident to or part of a settlement service. This includes referral fees and/or fee splitting other than for services actually performed.
Non-resident licensees wishing to apply for a South Carolina salesperson license must do the following: Apply for and take the South Carolina portion of the real estate examination. Submit certification(s) of licensure from any jurisdiction(s) in which they have held licensure in the last five (5) years.
Code of Laws Section 40-57-370, a real estate licensee is required to provide you a meaningful explanation of agency relationships offered by the licensee's brokerage firm. This must be done at the first practical opportunity when you and the licensee have substantive contact.
If you're moving to South Carolina, the state offers full reciprocity for those who hold a current North Carolina, Georgia, or West Virginia license. Like many other states, you will need to provide your license history and must have been licensed for at least six months prior to your application.
The South Carolina Real Estate Commission offers full reciprocity for Georgia residents who are qualified through written examination within Georgia and who also hold an active real estate license in Georgia.
Full Real Estate Reciprocity States that offer full real estate license reciprocity allow you to transfer your real estate license from any state in the country upon the completion of the state-specific portion of the real estate exam for your target state.
There are no laws that specifically address wholesaling in South Carolina. That means general real estate laws will govern all transactions involving property in the state.
