In South Carolina, the agency disclosure form required by SCREC must be presented to a consumer at which point in the real estate transaction?
Correct Answer
C) At first substantive contact with the consumer
South Carolina law requires that the SCREC-approved agency disclosure form be presented at 'first substantive contact' with a consumer — meaning the first meaningful discussion about a specific property or the consumer's needs. This requirement is established under S.C. Code Ann. § 40-57-370 and SCREC regulations. Failure to disclose at this point is a disciplinary violation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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