Which types of agency relationships are recognized in South Carolina?

In South Carolina, the recognized types of agency relationships include seller agency, buyer agency, and dual agency. Seller agency refers to the relationship where an agent represents the seller exclusively, working to secure the best terms and conditions for the sale of the property. Buyer agency, on the other hand, involves the agent acting solely in the interest of the buyer to help them purchase a property that meets their criteria.

Dual agency allows an agent to represent both the buyer and the seller in the same transaction. This type of agency must be handled with great care, as it creates the need for full disclosure and informed consent from both parties involved. The agent must remain neutral and cannot favor one party over the other, highlighting the necessity of transparency in dual agency situations.

Other potential options, such as tenant agency and landlord agency, are not standard terms recognized in the agency relationships in South Carolina. Similarly, exclusive agency and open agency refer more to the type of listing agreements rather than agency relationships. Understanding these distinctions is crucial for navigating real estate practices effectively in South Carolina.