South Carolina License Law
In South Carolina, a licensee who pays a portion of their earned commission back to the buyer or seller must:
AObtain SCREC approval first
BDisclose the rebate to all parties and their broker-in-charge✓ Correct
CStop the practice immediately as it is illegal
DReport it on their tax return only
Explanation
Commission rebates to clients are generally permissible in South Carolina but must be disclosed to all parties and the broker-in-charge. They must not be given to unlicensed parties.
Related South Carolina South Carolina License Law Questions
- A South Carolina broker-in-charge is responsible for:
- Which of the following does NOT require a South Carolina real estate license?
- In South Carolina, a newly licensed salesperson must work under the supervision of:
- Which South Carolina law establishes the legal framework for real estate licensing?
- South Carolina's Trust Fund Accounting rules require brokers to deposit earnest money into a trust account within:
- Which of the following is exempt from South Carolina real estate licensing requirements?
- A South Carolina real estate salesperson license is issued in the name of which of the following?
- In South Carolina, a provisional salesperson's license is valid for how long?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →