SC REAL ESTATE COMMISSION AND LICENSING ALREADY PASSED

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SC REAL ESTATE COMMISSION AND LICENSING ALREADY PASSED Required prelicense and post licensing ✔✔Education Purpose of the license law ✔✔Is to protest the public's interest when involving rea... l estate transactions. The publics interest is protected by ✔✔SC real estate commission and licensing requirements Before licensing ✔✔The applicants are tested for knowledge and competence Required continuing education ✔✔For salesman and broker license renewal Disciplines ✔✔Violators of the law Legal authority for the license law: ✔✔This is a state statue passed by the legislature The statue is example of ✔✔Police power, which is a restrictive power LLR ✔✔Sc Department of Labor, Licensing and Regulation LLR ✔✔A level of government SC department of labor, licensing and regulation ✔✔Is under the governor Many commissions ✔✔Are under LLR SC Real Estate Commission ✔✔10 people. With purpose -powers and duties SC Real Estate Commission ✔✔To regulate the real estate industry to protect the public when involved in SC real estate transactions SC Real Estate Commission ✔✔Set general policy with regard to enforcing the license law SC Real Estate Commission duties and powers ✔✔Determine standards for qualifications and eligibility of applicants for licensing SC Real Estate Commission powers ✔✔Conduct disciplinary hearings and decide disciplinary actions SC Real Estate Commission ✔✔Can recommend changed in legislation and publish them SC Real Estate Commission ✔✔Establish fees through regulation SC Real Estate Commission ✔✔Are not involved in resolving commissions disputes between licensees SC Real Estate Commission ✔✔Can make periodic inspections of offices of licensees to ensure compliance with the law Responsibility of licensees ✔✔To always keep their current address on file with the commission Investigations are based on ✔✔Director of the LLR initiating an investigation based on belief the law has been broken The SC real estate commission will investigate ✔✔If a person files a WRITTEN compliant. LLR ✔✔May randomly investigate Power of the commission to decide ✔✔Issue a public reprimand( publish name and facts on LLR website. First and least punishment The commission ✔✔Can suspend for definite or indefinite time Commission ✔✔Can revoke the license. May or May not be reinstated after 1 year ( most serious) SC Real Estate Commission ✔✔Can issue a fine of $100-$1000 PER violation and also recover the cost of investigation and prosecution [Show More]

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