South Carolina License Discipline, Penalties & Recovery Fund Quick Sheet

📋 The 1-minute cheat sheet

• The South Carolina Real Estate Commission investigates complaints and disciplines licensees for license-law violations.
• Disciplinary actions can include reprimand, fines, license suspension, or license revocation.
• Common grounds: misrepresentation, commingling or conversion of client funds, dishonest dealing, and operating outside the BIC's supervision.
• Licensees are entitled to notice and a hearing as part of the Commission's disciplinary process.
• South Carolina maintains a Real Estate Recovery Fund to reimburse consumers harmed by certain licensee misconduct.
• A recovery-fund claim generally follows an unsatisfied court judgment against a licensee for the wrongful act.
• Payment from the fund on a licensee's behalf can lead to suspension until the fund is repaid.
• Disciplinary outcomes become part of the licensee's record with the Commission.