Studying For The South Carolina Real Estate Exam
For those looking to become real estate agents in South Carolina, there are schools specifically dedicated to pre-licensing requirements and post-licensing education. You can also find schools that will help you prepare for the exam itself. In terms of community colleges, Spartanburg and Midlands Technical College are the main choices for those living in the state. There are also private schools available with the Academy of Real Estate in York and the Imperial Real Estate Academy in Sumter highly rated.
South Carolina Real Estate Industry Oversight
The state’s Department of Labor Licensing & Regulation controls the Real Estate Commission in South Carolina and is responsible for ensuring that all real estate companies maintain the highest standards when it comes to deal with customers and property.
South Carolina Real Estate Agent Eligibility
As well as being at least 18 years old and holding a high school diploma or similar qualification, you also need to complete 60 hours worth of pre-licensing education. Once you have successfully passed your real estate salesperson’s exam, you have to apply for a provisional salesperson license within 12 months. If you become a provisional salesperson, you have to gain the sponsorship of a broker-in-charge who needs to be licensed in South Carolina. Provisional real estate salespeople also have to complete 30 hours worth of classroom courses in the 12 months after being licensed.
South Carolina Real Estate Exam Information
There are a total of five centers where the exams take place throughout the state including Myrtle Beach and Greenville with Charlotte in North Carolina also hosting exams for real estate salespeople in South Carolina. The exams take place every day of the week except Sunday and are administered by a private company known as PSI. You are expected to pay $63 for the exam. When applying for the license, you need to pay a $25 processing fee as well as an extra $10 fee for a credit report. An additional $25 is needed for the license application with those looking to rise up from provisional status asked to pay another $25.
Renewing Your Real Estate License In South Carolina
The real estate salesperson license lasts for two years and to renew, you have to complete a minimum of eight hours worth of classroom education. Two of these hours are dedicated to courses relating to state and federal real estate laws. Those who are late renewing their license are penalized with a $10 fine and also have to take eight more hours of classroom courses on top of the usual requirement in order to make sure their license becomes active.
In total, there are three states that have reciprocity agreements with South Carolina: West Virginia, Georgia and North Carolina. Applicants from these states may not have to take the national section of the real estate salesperson’s exam.
Next Step: Becoming A Real Estate Broker In South Carolina
Only those aged 21 and over can apply to become a real estate broker in the state. A total of 150 hours worth of real estate classroom courses must be completed. The first 90 hours of this will be comprised of the same topics which were studied when applying for the salesperson license. In addition, those looking to be a broker in South Carolina must have been a salesperson for at least three of the last five years. If you have a Bachelor’s degree and studied a real estate subject as a major, you may get to bypass this requirement. When you pass the broker’s exam, you have to apply for the license within 12 months. It costs $125 for a broker’s license which lasts two years or else you can go for the broker-in-charge license which costs $250.