01/28/2024
Did you know that in real estate matters, Clients receive more services than Customers?
It’s all spelled out in the January 2017 revised
“South Carolina Disclosure of Real Estate Brokerage Relationships” –
This document must be provided to you when you first have substantive contact with a real estate agent.
South Carolina license law requires real estate agents to provide the following duties when dealing with buyers or sellers as customers/ Transaction Brokerage!
• Present all offers in a timely manner
• Account for money or property received
• Be fair, honest and provide accurate information
• Provide limited confidentiality
• Disclose “adverse material facts” known by the agent Show homes you ask to view
If you are a client of the real estate company, you can expect the following additional services:
• Obedience “Act on your behalf and promote your best interest “.
• Loyalty
• Disclosure
• Confidentiality
• Accounting
• Reasonable care and skill
• Advice, guidance and assistance in negotiations
South Carolina license law defines “customers” as buyers or sellers who choose not to enter into an agency relationship. Unless you enter into a written representation agreement with the brokerage, you are considered a customer, and should not expect that firm or agent to represent your best interest .
Sellers become “clients” when they sign a listing agreement with a company. This written agreement clearly states the terms and obligations of both seller and company.
Buyers become “clients” by signing a buyer agency agreement with the company. This agreement must also be in writing, with terms and obligation clearly defined.
When you choose to work with a real estate agent, as a seller or a buyer, your business relationship is legally with the real estate company and not with the agent associate.
Call to receive a copy of the “South Carolina Disclosure of Real Estate Brokerage Relationships” –
Joan Timmerman 864-993-7137 or email [email protected]
