Agency
Which of the following is TRUE about commission rates in South Carolina?
ACommission rates are set by SCREC
BCommission rates are negotiable between the broker and client✓ Correct
CCommission rates are set by the local Board of REALTORS
DCommission rates are fixed by state law at 6%
Explanation
Commission rates in South Carolina are negotiable. Any agreement to fix commission rates at a standard level would violate antitrust laws. Rates are set by agreement between the broker and their client.
Related South Carolina Agency Questions
- In South Carolina, 'agency coupled with an interest' is:
- A South Carolina listing agent who discovers a material defect in a property must:
- A South Carolina agent learns that the seller has structural problems with the foundation but has not disclosed this. The agent should:
- A South Carolina seller asks their agent not to disclose that the neighborhood has had recent flooding. The agent should:
- A South Carolina real estate agent represents a seller. The buyer in the transaction is unrepresented. The agent's duty to the unrepresented buyer is to:
- An exclusive right-to-sell listing in South Carolina guarantees the listing broker a commission:
- Which document in South Carolina formalizes the relationship between a buyer and their real estate agent?
- When does a seller's agency relationship with a listing broker typically terminate in South Carolina?
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 →