Fortune Academy of Real Estate is designed to provide you with the information you need to know in order to make an informed decision about a career in real estate.
Whether you’re new to online education or an old pro, you may have a question for us. In an effort to save you time, we’ve compiled some of our most frequently asked questions below. Just click on a question to read the answer, and if you don’t find the answer you’re looking for,don’t hesitate to reach out to us via Live Chat,by Calling 843-258-1108 or by emailing at info@fortuneacademy.com .
All applicants must be over the age of 18 and have a high school diploma (or certificate of equivalency), and be lawfully present and eligible to work in the United States.If you have a law degree or a four-year baccalaureate degree from a higher education institution with a major in real estate, you do not have to take pre-licensing courses for any license type, or meet the experience requirements for Broker qualification. A transcript can be accepted and reviewed to authorize you to apply for the Sales, Broker or Property Manager Examination.
You must complete the Commission approved
pre-licensing Course (60 hours – Unit I Sales) then
apply to take the SC Real Estate Sales examination.
Before you apply for a license you will also need to
complete an additional Unit II: Advanced Real Estate
Principles course (30-hours). Passing Score sheets
and proof of completion of the Unit II course must
be submitted with your licensure application
You must have three (3) years of “Active” licensed
salesperson experience within the last five (5)
years prior to attempting to qualify for a broker
license. You must complete the Commission approved
Broker IIIA and IIIB pre-licensing courses (60
additional hours) then apply to take the SC Real
Estate Broker Examination. After passing the
examination, you can submit a Broker application
with passing score sheets. Post examination
applications will be provided by the exam provider
PSI. A broker qualified applicant can also apply to
become a Broker in Charge and establish an office
under their supervision.
You must complete the Commission approved Property
Management (30 hours) pre-licensing course then
apply to take the South Carolina Property Manager
Exam. After passing the examination, you can submit
an application for a Property Manager or Property
Manager in Charge license. Property Manager in
Charge applicants must also complete a 7 hour PMIC
class prior to issuance of an “in Charge” license.
Post examination applications will be provided by
the exam provider PSI.
PDF Exam Application Link: https://llr.sc.gov/re/recpdf/doc231.pdf
Online Applications Link: https://llr.sc.gov/re/Instructions.aspx
SCREC recognizes the qualifications of non-resident licensees
of other jurisdiction, however one must still must apply for
and take the SC portion of the real estate examination (and
if applying to become a broker, meet the 3 years actively
licensed sales experience requirements). With your
examination application, you will need to submit
certification(s) of licensure from any jurisdiction(s) in
which you have held licensure in the last 5 years. You must
also have been licensed within 6 months prior to SC
Application. Resident applicants with licenses in other
jurisdictions who have been residents for more than 6 months
cannot qualify to take the S.C. examination with just a
certification of licensure from another jurisdiction. The
resident applicant will also need to take the following
pre-licensing education:
a SC resident (for more than 6 months) with a license
in another jurisdiction who will have to take Unit
II: Advanced Real Estate Principles class (30
hours)
a SC resident (for more than 6 months) with a broker
license in another jurisdiction will have to take
Broker Unit IIIA and Broker Unit IIIB classes (60
hours)
PDF Exam Application Link: https://llr.sc.gov/re/recpdf/doc231.pdf
Online Applications Link: https://llr.sc.gov/re/Instructions.aspx
Yes, our agency requires that we receive and verify social
security numbers through a copy of the social security card
prior to issuing any license for any licensing Board.
Yes, you will need to indicate that you don’t have a
supervising broker/office code on your license application
where it asks for BIC/PMIC office information and signature.
You will be licensed but placed in “inactive” status until
you activate under a supervising in charge licensee. If a
provisional salesman, you still will be required to complete
post-licensing education and upgrade prior to expiration of
your license
https://llr.sc.gov/re/pub.aspx Document #200 or click the
“Online Transfer” menu link on the SCREC webpage under
Licensure Information, login and complete online
https://llr.sc.gov/re/recpdf/doc190.pdf Document #190 or for
address changes, click the “Change Address” menu link on the
SCREC webpage under Quick Links, login and complete
online.
There is no referral status recognized by the South Carolina
Real Estate Commission. Your status is either “Active” or
“Inactive”. Inactive licensees should not perform activities
requiring real estate licensure including soliciting a
referral fee. A Broker in Charge may at their discretion
create a “referral” only limited service office for
supervision of licensees who are not engaging in sales or
other licensed real estate activities.
Soliciting a referral fee requires real estate licensure.
S.C. Code 40-57-145(A)(11) says it is a violation for a
licensee who “pays a commission or compensation to an
unlicensed individual for activities requiring a license
under this chapter. Notwithstanding this section, a licensee
may not pay or offer to pay a referral fee or finder’s fee
to an unlicensed individual that is not a party in the real
estate transaction.” Unlicensed Employees may not negotiate
or agree to compensation based upon the listing, sales or
rental of a property. A resident licensee may pay a portion
of their commission to a licensee of another jurisdiction on
a cooperative basis if the licensee does not perform real
estate activities requiring licensure in South Carolina.
You must have 25 years of licensed experience. The Partial CE
Exemption request form can be found at
https://llr.sc.gov/re/pub.aspx,Document#220
:
The SCREC only creates the South Carolina Residential
Property Disclosure Statement and Addendum, the Disclosure
of Agency Relationships, the Offer Rejection Form, the
Designated Agency Agreement and Dual Agency Agreement forms.
These can be found on the SCREC Page at
https://llr.sc.gov/re/resources.aspx
A criminal record does not in itself prevent you from being
able to be licensed. Certain convictions are grounds for
denial of licensure and will require that you appear before
the Commission for an Application Hearing. You must complete
pre-licensing requirements and submit an application for
examination or licensure before a determination can be made
as to whether your licensure can be approved by the
Administrator, or if it will require an appearance before
the Commission for a hearing
Please send us a signed letter indicating the names and
license numbers identifying the individuals you wish to
remove from your supervision. You may email a scanned copy
to Contact.REC@llr.sc.gov
Here are links to the SC PSI Exam Candidate Information
Bulletins which covers an outline of exam topics.
https://llr.sc.gov/re/pub.aspx
Document #150 and Document #140
https://llr.sc.gov/re/pub.aspx
Document #741 or login through the following link and
request a license verification to be sent to the address
selected. There is a $5 fee.
https://eservice.llr.sc.gov/SSO/Login/LoginPage?ReturnUrl=%2fOnlineVerification2%2f
All information, applications and forms can be found at:
https://llr.sc.gov/re/
Following are the requirements to practice Real Estate in
South Carolina if you have been licensed from another
estate