Updated July 11, 2022
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). The broker agrees to exercise their marketing expertise in an attempt to sell the principal’s property for a fair price and, in return, they will receive a percentage of the final price (commission). The terms of the agreement are negotiable, and it’s important that the client understands what should and should not be included in the agreement. Although contracts may vary, the following provisions should be included; broker’s and owner’s duties and obligations, commission rate, property information, disclosure, and length of the agreement.
Agency Disclosure Form (§ 40-57-370) – Real estate brokers must inform potential clients of the nature of brokerage relationships by providing an agency disclosure form upon the first contact with the client.
Dual Agency (§ 40-57-350 (I)) – Dual agency is permitted in South Carolina, providing the agent obtains written consent from both parties.
Property Disclosure Statement (§ 27-50-40) – Before a real property transaction can be finalized, the seller of the property must provide the buyer with a disclosure form.
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