Angela is a licensed South Carolina salesperson who has been actively practicing for three years. She passes the South Carolina broker examination and wants to immediately open her own independent brokerage. Under South Carolina law, which of the following statements is most accurate regarding Angela's ability to open and operate her own independent brokerage?
Correct Answer
B) Angela must first complete the 6-hour BIC course and be designated as a BIC before she may open and operate an independent brokerage
Under South Carolina law and SCREC regulations, to operate an independent brokerage, Angela must be designated as the Broker-in-Charge of that office. Before assuming the BIC designation, she must complete the SCREC-approved 6-hour BIC course. Simply passing the broker exam and paying a fee is insufficient to open and operate an independent brokerage — the BIC designation and the prerequisite BIC course are mandatory steps. Without a BIC, the office cannot lawfully operate.
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Related Topics & Key Terms
Key Terms:
Related Concepts
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
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