The real estate landscape in both South Carolina and North Carolina has seen several significant legal, regulatory, and procedural shifts since 2023. For realtors, brokers, and agents, staying on top of these changes isn’t optional—it’s essential for avoiding liability, protecting clients, and maintaining a competitive advantage. Below are the key changes, comparisons, and actionable takeaways for professionals practicing in these states.

South Carolina Updates

1. Real Estate Practice Act Revisions (2023–2024)

• Real Estate Associates: What used to be called “salespersons” are now officially “real estate associates” under SC Code. This terminological change affected many sections of the Real Estate Practice Act.
• New Education & Provider Standards: The law (via SC Bill 4754) added Article 9 to Chapter 57, Title 40, which establishes more rigorous standards for prelicensing and continuing education providers. Distance education providers must now have certain national certifications (ARELLO/IDECC or others approved by the commission). South Carolina Legislature Online
• Administrative Citations & Penalties, Appeals: The revisions also empower the commission to issue administrative citations and penalties, with a clear appeals process. South Carolina Legislature Online

2. Wholesaling Clarified, Restrained

• Wholesaling Definition and Limits: In May 2024, major revisions to the Real Estate Practice Act addressed wholesaling. SC now has more explicit definitions and rules about what constitutes “contractual interest,” what is “marketing,” etc. If you assign a contract and then market it (or expect compensation) before taking legal ownership, that may run afoul of the law.
• What Is Allowed vs Not:
  • ✅ Assignments to close family/corporate entities without marketing and without public representation are more likely to be lawful.
  • ❌ Public marketing (photos, addresses, descriptions, ads) of property you don’t yet own under contract is risky.

3. Other Changes: License Status, BIC Experience, Trust Funds

From SC’s license law changes (effective 2024):

• Duration for Lapsed vs Cancelled: The window for a license to move from lapsed to cancelled status is now 24 months.
• Broker-in-Charge (BIC) Qualifications: The required experience for becoming a BIC increased (e.g. from 3 years to 5 years).
• Continuing Education Carryover: Licensees can now carry over up to 4 hours of elective continuing education to the next renewal cycle.
• Offer Rejection Forms & Trust Funds: There are stricter time requirements around offer rejection submissions (within 48 hours) and greater accountability for trust funds, even when a law firm serves as the escrow agent.
• Responsibility for AI-generated Content: Agents are responsible for any content or actions attributed to them, even if generated via artificial intelligence.