SC REAL ESTATE COMMISSION AND
LICENSING ALREADY PASSED
Required prelicense and post licensing ✔✔Education
Purpose of the license law ✔✔Is to protest the public's interest when involving real estate
transactions.
The
...
SC REAL ESTATE COMMISSION AND
LICENSING ALREADY PASSED
Required prelicense and post licensing ✔✔Education
Purpose of the license law ✔✔Is to protest the public's interest when involving real estate
transactions.
The publics interest is protected by ✔✔SC real estate commission and licensing requirements
Before licensing ✔✔The applicants are tested for knowledge and competence
Required continuing education ✔✔For salesman and broker license renewal
Disciplines ✔✔Violators of the law
Legal authority for the license law: ✔✔This is a state statue passed by the legislature
The statue is example of ✔✔Police power, which is a restrictive power
LLR ✔✔Sc Department of Labor, Licensing and Regulation
LLR ✔✔A level of government
SC department of labor, licensing and regulation ✔✔Is under the governor
Many commissions ✔✔Are under LLR
SC Real Estate Commission ✔✔10 people. With purpose -powers and duties
SC Real Estate Commission ✔✔To regulate the real estate industry to protect the public when
involved in SC real estate transactions
SC Real Estate Commission ✔✔Set general policy with regard to enforcing the license law
SC Real Estate Commission duties and powers ✔✔Determine standards for qualifications and
eligibility of applicants for licensing
SC Real Estate Commission powers ✔✔Conduct disciplinary hearings and decide disciplinary
actions
SC Real Estate Commission ✔✔Can recommend changed in legislation and publish them
SC Real Estate Commission ✔✔Establish fees through regulation
SC Real Estate Commission ✔✔Are not involved in resolving commissions disputes between
licensees
SC Real Estate Commission ✔✔Can make periodic inspections of offices of licensees to ensure
compliance with the law
Responsibility of licensees ✔✔To always keep their current address on file with the commission
Investigations are based on ✔✔Director of the LLR initiating an investigation based on belief the
law has been broken
The SC real estate commission will investigate ✔✔If a person files a WRITTEN compliant.
LLR ✔✔May randomly investigate
Power of the commission to decide ✔✔Issue a public reprimand( publish name and facts on LLR
website. First and least punishment
The commission ✔✔Can suspend for definite or indefinite time
Commission ✔✔Can revoke the license. May or May not be reinstated after 1 year ( most
serious)
SC Real Estate Commission ✔✔Can issue a fine of $100-$1000 PER violation and also recover
the cost of investigation and prosecution
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