Kevin is a licensed broker in South Carolina who wants to work as an independent contractor without affiliating with any real estate firm. He wishes to conduct real estate transactions on his own behalf. Under South Carolina law, what designation must Kevin hold to legally operate in this manner?
Correct Answer
B) Kevin must be designated as his own Broker-in-Charge and maintain a principal place of business
Under S.C. Code Ann. § 40-57-360 and SCREC regulations, a broker who wishes to operate independently without affiliating with another broker must serve as his or her own Broker-in-Charge and maintain a principal place of business. This means Kevin must self-designate as BIC, complete the required BIC course if he has not already done so, and maintain a registered office location.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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