Rachel is a licensed broker in South Carolina who completed the 6-hour BIC course five years ago but has never actually served as a Broker-in-Charge. She now wants to become the BIC of a new Hilton Head Island office. Her broker license has been continuously active. Which of the following statements is most accurate regarding Rachel's eligibility?
Correct Answer
B) Rachel is eligible to be designated as BIC because she holds an active broker license and has completed the required BIC course
Under SCREC Regulation 36-3, the prerequisite for the BIC designation is completion of the SCREC-approved 6-hour BIC course and holding an active broker license. There is no requirement that the BIC course be retaken if it was completed in the past, and there is no mandatory waiting period or minimum years of affiliated service. Rachel meets both requirements and is eligible to be designated as BIC.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
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