KT Arrowood

The SC Real Estate License Law, in Section 40-57-139, requires a real estate licensee to provide you this information and a meaningful explanation of agency relationships offered by the licensee's Company.  This must be done at the first practical opportunity when you and the licensee have substantive contact.

Customer -   South Carolina license law defines Customers as buyers or sellers who choose NOT to establish an agency relationship.  The law requires real estate licensees to perform the following basic duties when dealing with any real estate buyer or seller as Customers:

• Present all offers in a timely manner
• Account for money or other property received on your behalf
• Provide an explanation of the scope of services to be provided
• Be fair and honest and provide accurate information
• Disclose "adverse material facts" about the property or the transaction which are within the licensee's knowledge

     Unless or until you enter into a written agreement with the Company for agency representation, you are considered a "Customer" of the Company, and the Company will not act as your agent.  As a customer, you should not expect the Company or the agent to promote your best interests, or to keep your bargaining information confidential.

Customer service does not require a written agreement; therefore, you are not committed to the Company in any way.

Client - Clients receive more services than customers.  If Client status is offered by the real estate Company, you can become a Client by entering into a written agency agreement requiring the Company and its agents to act as an agent on your behalf and promote your best interests.  If you choose to become a Client, you will be asked to confirm in your written representation agreement that you received this brochure in a timely manner.

A buyer becomes a Client of a real estate Company by signing a formal buyer agency agreement with the Company.  For a buyer to become a Client, this agreement must be in writing and must clearly establish the terms of the agreement and the obligations of both the buyer and the Company which becomes the agent for the buyer.

When you enter into a written agency agreement, as a Client, you can expect the real estate Company to provide the following Client-level services.

• Obedience
• Loyalty
• Disclosure
• Confidentiality
• Accounting
• Reasonable Care and Skill
• Advice
• Counsel
• Assistance in Negotiations
  

If you plan to become a client of a Company, the agent will explain the agreement to you fully and will answer any questions you may have about the agreement.

Remember, however, that until you enter into a representation agreement with the Company, you are considered a Customer and the Company cannot be your advocate, cannot advise you on price or terms, and cannot keep your confidences.

It's Your Choice...

As a real estate consumer in South Carolina, it is your choice as to the type and nature of services you receive.

• You can choose to remain a Customer and represent yourself while the Company represents the other party.
  
• You can choose to hire the Company for representation through a written agreement. (NOTE-There is typically no cost to the buyer for these services.  The seller typically pays the fee or commission when the real estate transaction/closing occurs.)
  

 The choice belongs to you - the South Carolina real estate consumer.