South Carolina Real Estate License Law
South Carolina real estate practice is governed by Title 40, Chapter 57 and administered by the South Carolina Real Estate Commission under LLR. This chapter covers licensing authority, the broker-in-charge requirement, and how salespersons are supervised.
The Commission and LLR
The South Carolina Real Estate Commission, within the Department of Labor, Licensing and Regulation (LLR), licenses and regulates brokers, brokers-in-charge, property managers, and salespersons under Title 40, Chapter 57. A license is required to provide real estate brokerage services for others for compensation unless an exemption applies. The Commission investigates complaints and may deny, suspend, or revoke licenses and impose penalties.
The Broker-in-Charge
Each real estate office in South Carolina must have a broker-in-charge (BIC) who supervises affiliated licensees and maintains the office's trust accounts and transaction records. The broker-in-charge is accountable for the conduct of the salespersons and associate brokers in the office. A salesperson works under this supervision and cannot operate independently.
Salesperson Compensation and Discipline
A salesperson is paid only through the affiliated broker; a salesperson may not accept commissions directly from a buyer, seller, or another broker. Grounds for discipline include dishonest dealing, commingling or misusing trust funds, false advertising, and failing to make required disclosures. Serious violations can result in suspension or revocation of the license.