WARNING/ALERT ON RISK MANAGEMENT: DON’T GET SUED, FACE LLR SC REAL ESTATE COMMISSION DISCIPLINE, SCR ETHICS DISCIPLINE
REALTORS® are reporting to SCR that other listing REALTORS® in their MLS are potentially making high risk comments in the MLS such as the following:
"Listing brokerage refuses to receive any offers not written on ________________ (e.g., HHAR, HHIMLS, CCRA/CMLS, SCR, Other) forms or requiring SCR _________________(e.g., due diligence, repair procedure, as-is)."
Reminder that SC license law requires you to submit all offers received to the seller:
(a) timely present all written offers to and from the parties involving the sale, lease, and exchange of property, even when the property is subject to a contract of sale;
Most sellers care primarily about selling their real estate on their desired terms and do not care if the offer is written on the HHAR/CCRA/Other contract or the SCR contract or a brokerage contract or a builder’s contract or an investor’s contract or a lawyer drafted contract.
Most SC REALTORS® outside of Hilton Head and Columbia use the SCR forms. So, REALTORS® from regions outside of Columbia and Hilton Head may submit offers on the SCR forms that they are trained and experienced using. These REALTORS® might not have access to HHAR/CCRA/Other forms.
Technically, an offer written on a napkin, text message, or even a verbal offer that needs to be transcribed should be presented to the seller.
However, REALTORS® using napkins for offers and texting offers and making verbal offers could face license law discipline, lawsuits, and ethics violations themselves. So, talk to the REALTOR® and their BIC if they are using napkins for offers or texting informal offers or making verbal offers and nip that in the bud.
Prudent risk management is to accept and present any offer. Then, explain to the seller that the listing agent is trained and experienced with the HHAR/CCRA/SCR/Other forms and recommend that the seller counter offer on the HHAR/CCRA/SCR/Other contract. Then, the seller can make the decision about how to accept or counter offer or reject the offer and which forms HHAR/CCRA/SCR/Other to use.
With more licensees using SCR forms in the SC markets, it may be worth your time to learn the SCR contract. SCR has forms information on screaltors.org and SC REALTORS® Youtube Channel and SCR attorneys Byron/Austin/Nick firstname.lastname@example.org can provide forms training and answer forms questions on the SCR hotline 803-772-5206.
Posted by: Byron King on 3/1/21 (This information is only accurate as of 3/15/21. You must contact SCR for updates and changes to this information after 3/15/21 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)