Which of the following is a duty of a South Carolina listing agent?
What duty does a listing agent in South Carolina owe to buyers? One of the duties an agent owes a customer (and any other party they encounter related to the transaction) is honest treatment. Agents cannot lie to their client or anyone else involved in the transaction.
What purpose does the South Carolina real estate commission serve?
There is created the South Carolina Real Estate Commission under the administration of the Department of Labor, Licensing and Regulation. The purpose of this commission is to regulate the real estate industry so as to protect the public’s interest when involved in real estate transactions.
What is a realtors commission in SC?
Real Estate Agent Commission
Most people selling their home in South Carolina work with a real estate agent. The listing agent’s commission usually charges 5% to 6% of your home’s purchase price. This is by far the biggest costs you’ll pay.
When must a South Carolina licensee notify the commission of a felony conviction?
Notify the commission within 30 days of changes to her residential and business address.
What is the purpose of a listing agreement in South Carolina?
A South Carolina real estate agent listing agreement sets forth the terms and conditions of the relationship between a real estate broker and an individual trying to sell a residential property (client or principal).
What is the purpose of a listing agreement in South Carolina quizlet?
is a legally-binding contract that creates an agency relationship authorizing a broker to serve as the agent for a principal in a real estate transaction. There are different types of representation relationships and agreements: An owner listing authorizes a broker to represent an owner or landlord.
What is the best area to live in South Carolina?
Where Is The Best Place To Live In South Carolina?
- Mount Pleasant. Population: 91,684. …
- Columbia. Population: 131,674. …
- Tega Cay. Population: 11,335. …
- Fort Mill. Population: 22,284. …
- Rock Hill. Population: 75,048. …
- Clemson. Population: 17,501. …
- Lexington. Population: 22,157. …
- Myrtle Beach. Population: 34,695. Median Household Income: $40,525.
What percentage do real estate agents make in South Carolina?
The data: We surveyed local agents and found that the average real estate commission in South Carolina is 5.83%, which is higher than the national average of 5.50%. Realtor commission is usually the largest cost you’ll face when selling your home — but you don’t have to pay the full 5.83%.
Who pays closing costs in South Carolina?
Generally speaking, buyers will pay about 2-3 percent of the purchase price of the home in the closing fees. If a house costs $300,000 the fees will be between $6,000 and $9,000.
Is it cheaper to sell a house without a realtor?
Could net less money for your home: Selling a house without a Realtor typically leads to a lower sales price, according to data from the National Association of Realtors’ 2018 Profile of Home Buyers and Sellers.