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Don Cleveland
Broker in Charge
Phone: (864) 940-5444
Don@buyhartwelllake.com

Patty Cleveland
Phone: (864) 940-2232
Patty@buyhartwelllake.com

Kyle Corbett
Phone: (864) 376-9163
Kyle@buyhartwelllake.com

Debbie Henderson
Phone: (404) 313-4404
Debbie@buyhartwelllake.com 

Judy Stevanovich
Phone: (864) 276-7416
Judy@buyhartwelllake.com

Larissa Pino
Phone: (864) 367-2745
Larissa@buyhartwelllake.com

Sarah Cleveland
Phone: (864) 415-7448
Sarah@buyhartwelllake.com

Katie Tillman
Phone: 864-303-3469
katie@buyhartwelllake.com

Sylvia Maria Pintado
Phone: 864-556-4436
Sylvia@buyhartwelllake.com

Arielle Salley
Phone: 803-553-9219
Arielle@buyhartwelllake.com
 

 

 

 

Agency In South Carolina

Agency

Disclosure

Brochure

Agency Relationships in Real Estate

 

 

South Carolina Department of Labor, Licensing and Regulation

South Carolina Real Estate Commission

PO Box 11847

Synergy Business Park, Kingstree Building

110 Centerview Dr., Suite 201

Columbia, SC 29210

Telephone: (803) 896-4400

Fax: (803) 896-4404

http://www.llr.state.sc.us/pol/rec/index.asp?file=faxdam3.htm

 


Agency Relationships in South Carolina

The SC Real Estate License Law, in Section 40- 57-139 (A) (1) and (2), requires a real estate licensee to provide you this brochure and a meaningful explanation of agency relationships offered by the licensee’s Company. This must be done at the first practical opportunity when you and the licensee have substantive contact.

Before you begin to work with a real estate licensee, it is important for you to know the difference between a broker-in-charge and associated licensees. The broker-in-charge is the person in charge of a real estate Company. Associated licensees may work only through a broker-in-charge. In other words, when you choose to work with any real estate licensee, your business relationship is legally with the Company and not with the associated licensee.

A real estate Company and its associated licensees can provide buyers and sellers valuable real estate services, whether in the form of basic customer services, or through client-level agency representation. The services you can expect will depend upon the legal relationship you establish with the Company. It is important for you to discuss the following information with the real estate licensee and agree on whether in your business relationship you will be a customer or a client.

Now You Are a Customer of the Company

South Carolina license law defines customers as buyers or sellers who choose NOT to establish an agency relationship. The law requires real estate licensees to perform the following basic duties when dealing with any real estate buyer or seller as customers:

  • Present all offers in a timely manner

  • Account for money or other property received on your behalf

  • Provide an explanation of the scope of services to be provided

  • Be fair and honest and provide accurate information

  • Disclose “adverse material facts” about the property or the transaction which are within the licensee’s knowledge

Unless or until you enter into a written agreement with the Company for agency representation, you are considered a “Customer” of the Company, and the Company will not act as your agent. As a Customer, you should not expect the Company or its licensees to promote your best interest, or to keep your bargaining information confidential.

Customer service does not require a written agreement; therefore, you are not committed to the Company in any way.

You Can Become a Client

Clients receive more services than customers. If client status is offered by the real estate Company, you can become a client by entering into a written agency agreement requiring the Company and its associated licensees to act as an agent on your behalf and promote your best interests. If you choose to become a client, you will be asked to confirm in your written representation agreement that you received this brochure in a timely manner.

A seller becomes a client of a real estate company by signing a formal listing agreement with the Company. For a seller to become a client, this agreement must be in writing and must clearly establish the terms of the agreement and the obligations of both the seller and the Company which becomes the agent for the seller.

A buyer becomes a client of a real estate Company by signing a formal buyer agency agreement with the Company. For a buyer to become a client, this agreement must be in writing and must clearly establish the terms of the agreement and the obligations of both the buyer and the Company which becomes the agent for the buyer.

If you enter into a written agency agreement, as a Client, you can expect the real estate Company to provide the following client-level services:

  • Obedience

  • Loyalty

  • Disclosure

  • Confidentiality

  • Accounting

  • Reasonable care and skill

Client-level services also include advice, counsel and assistance in negotiations.

Single Agency

When the Company represents only one client in the same transaction (the seller or the buyer), it is called single agency.

Dual Agency

Dual Agency exists when the real estate Company has two clients in one transaction – a seller client and a buyer client.

At the time you sign an agency agreement, you may be asked to acknowledge whether you would consider giving written consent allowing the Company to represent both you and the other client in a disclosed dual agency relationship.

Disclosed Dual Agency

In a disclosed dual agency, the Company’s representation duties are limited because a buyer and seller have recognized conflicts of interest. Both clients’ interests are represented by the Company. As a disclosed dual agent, the

Company and its associated licensees cannot advocate on behalf of one client over the other, and cannot disclose confidential client information concerning the price negotiations, terms, or factors motivating the buyer/client to buy or the seller/client to sell. Each Dual Agency Agreement contains the names of both the seller client(s) and the buyer client(s) and identifies the property.

Designated Agency

In designated agency, a broker- in-charge may designate individual associated licensees to act solely on behalf of each client. Designated agents are not limited by the Company’s agency relationship with the other client, but instead have a duty to promote the best interest of their clients, including negotiating a price. The broker -in-charge remains a disclosed dual agent for both clients, and ensures the assigned agents fulfill their duties to their respective clients.

At the time you sign an agency agreement, you may be asked to acknowledge whether you would consider giving written consent allowing the Company to designate a representative for you and one for the other client in a designated agency.

Each Designated Agency Agreement contains the names of both the seller client(s) and the buyer client(s) and identifies the property.

What to Look For in Any Agreement

When you choose client-level service, your written Agency Agreement or your agent should answer these questions:

  • Can I work with other Companies during the time of the Agreement?

  • What will happen if I buy or sell on my own without the agent?

  • When will this agreement expire?

  • How will the Company be paid for its services?

  • Does this Company represent both buyers and sellers as clients?

  • If so, what are the choices if two clients become involved in one transaction?

  • What duties will the Company continue to provide me after the transaction is completed?

If you plan to become a client of a Company, the licensee will explain the agreement to you fully and will answer questions you may have about the agreement. Remember, however, that until you enter into a representation agreement with the Company, you are considered a customer and the Company cannot be your advocate, cannot advise you on price or terms, and cannot keep your confidences.

It’s Your Choice

As a real estate consumer in South Carolina, it is your choice as to the type and nature of services you receive.

  • You can choose to remain a customer and represent yourself while the Company represents the other party.

  • You can choose to hire the Company for representation through a written agreement.

  • If represented by the Company, you can decide whether to go forward under the shared services of dual agency or designated agency or to remain in single agency.

The choice of services belongs to you—the South Carolina real estate consumer.

 

This brochure has been approved by the S.C. Real Estate Commission for use in explaining representation issues in real estate transactions and consumers rights as a buyer or seller. Reprinting without permission is permitted provided no changes or modifications are made.

 

 

 

 

 

Patty Cleveland
Phone: (864) 940-2232
E-Mail: Patty@buyhartwelllake.com


 

Testimonials Page

Absolutely THE BEST! Larissa not only helped us with our real estate needs, but she also provided us with all the local knowledge and connections that we required for our current purchase and future renovation project on our new lakefront property. Larissa was energetic and immediately responsive to any questions that we had about the purchase of our dream home that she found for us. Larissa’s guidance in our home purchase in a region that we are not familiar with has been invaluable before, during and after the closing. Over the last decade, my husband and I have bought, renovated and sold several properties in Atlanta. As a doctor, I appreciate and recognize service and hard work that is above the norm. Larissa exemplifies professionalism and offers service that goes above and beyond that of your typical real estate agent. We are extremely grateful for Larissa’s assistance and efforts on our behalf. Larissa is honest, responsive, knowledgeable and trustworthy. She communicated with us every step of the way and proved to be an excellent negotiator. Larissa brokered a fantastic deal that was significantly lower than the listing price. After completing this property transaction, we can confidently proclaim that Larissa is our new favorite realtor! I would highly recommend Larissa to others!
 
W & C Gibson
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