Interest Earned on REALTOR® Trust Accounts

Did you know that you can earn interest on your brokerage trust accounts? You can. It is easy. You can keep the interest or donate it.

Did you know that you can earn interest on your brokerage trust account and voluntarily donate the money to worthy causes like the SC REALTORS® "Homeownership the American Dream" Housing Fund or the Charleston Trident Association of REALTORS® Housing Opportunity Fund (CTAR RHOF)?

It is easy.

Simply get the parties to consent to the interest being earned when they sign the SCR Form 310 (residential purchase agreement).

27. TRUST ACCOUNT INTEREST/CHARITABLE CONTRIBUTION: According to the rules and regulations of the South Carolina Real Estate Commission and the Code of Laws of South Carolina, 1976, as amended, any interest earned on Buyer’s earnest money deposit would belong to Buyer until the closing of the transaction referenced in this agreement. It is understood that Broker [ x ] may [ ] may not place deposited earnest monies into an interest bearing trust account. If Buyer’s earnest money deposit is deposited into an interest bearing trust account, Broker will retain all interest earned in said account.