Salesperson Greg, affiliated with Palmetto Properties in Hilton Head, has been working with buyer couple the Johnsons for three months under a written buyer representation agreement. Greg's BIC, Broker Faye, suddenly retires and surrenders her license. Greg wants to continue working with the Johnsons. Under South Carolina law, which of the following is the most accurate statement about Greg's situation?
Correct Answer
B) Greg's license becomes inactive, and he must affiliate with a new brokerage with a designated BIC before performing any licensed activities
Under South Carolina law, a salesperson's license is only active when affiliated with a licensed brokerage that has a designated Broker-in-Charge. When the BIC surrenders her license, the affiliated salespersons — including Greg — cannot perform licensed real estate activities. Greg's license effectively becomes inactive for that office. He must formally transfer his license to a new brokerage with a properly designated BIC before he can resume working with the Johnsons or any other clients.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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