Overview
A broker-in-charge (BIC) has many critically important duties and is ultimately responsible for the actions of all associated licensees. This course explores a South Carolina BIC's duties and responsibilities, including the proper handling of trust accounts, developing an office policy manual, reviewing forms, ensuring proper record keeping, and supervising associated licensees, among other things. The course also explains a BIC's duty to supervise teams and reviews the South Carolina Real Estate Commission-approved documents that must be used in transactions.
Find this course for your license
License or Certification
Regulator
Type
Learning Objectives
- Explain a BIC's responsibility to provide adequate supervision of associated licensees
- Determine who must have a trust account, the purpose of a trust account, how accounts must be titled, and who is responsible for managing such accounts
- List the ways funds can be distributed from trust accounts when undisputed and disputed
- Assess when an Offer Rejection form is required and by whom it must be provided
- Explain which mandatory forms are provided by the Real Estate Commission and any additional mandatory forms not provided by the Commission
- Identify ways to practice in compliance with applicable laws and rules and reduce risk of liability for the brokerage
Designed For:
South Carolina licensed brokers-in-charge
Course Information
Adding additional credit may change exam requirements.
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S1-31 - Framework