SOUTH CAROLINA REALTORS®
Advocacy Guide
2024 The South Carolina REALTORS® are the voice and resource for members and real estate consumers, raising the standard of ethics and professionalism in the practice of real estate.
2024 SCR Advocacy Guide
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TABLE OF CONENTS LETTER FROM THE LEGISLATIVE CHAIR ......................... 1 2023 MARKET STATS................................................................. 2 2024 LEGISLATIVE PRIORITIES............................................ 4 RPAC ELECTION RESULTS & DETAILS .............................. 7 RPAC 2023 SUCCESSES.......................................................... 8 WHAT IS RPAC? ......................................................................... 9 FAQs.................................................................................................. 10 CLOSING STATEMENT FROM NICK KREMYDAS............. 12
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2024 SCR Advocacy Guide
LETTER FROM THE LEGISLATIVE CHAIR
South Carolina REALTORS®, As a member of the South Carolina REALTORS®, I have seen the benefit our Legislative Committee has had on prioritizing and advancing key legislation that is crucial to our industry’s growth and resilience. It is my honor to address you as the 2024 Chair and reflect on the impactful legislative strides we’ve achieved in 2023. Over the past year, SCR has successfully influenced policies that streamline regulatory processes and fostered a business environment that is both efficient and mindful of consumers and member interests.
The mission of the South Carolina REALTORS® is to equip members for success and to be the champion for thriving communities, real property rights and attainable housing for all. Our collective commitment has also addressed affordable housing challenges, promoted diverse housing options, and contributed to the accessibility of homeownership. 2023 has also brought to light several key challenges that we need to address in 2024, mainly on legislation that transforms how we do business as real estate professionals. The real estate industry has undergone significant changes in the past several years, and with the integration of new technology, how we do business has changed. We must ensure that existing laws are updated to maintain an efficient and modernized real estate environment. We will remain vigilant in our dedication to shaping policies that empower REALTORS® and enhance the real estate landscape in South Carolina. Your support and engagement are the cornerstones of our success, and I look forward to continuing this journey together for the prosperity of our organization and the community we serve. Sincerely,
The South Carolina REALTORS® Legislative Committee closely monitors legislative issues that could affect South Carolina’s real estate industry and impact consumers. Committee members are made up of passionate REALTORS® that review these policies and provide the direction for advocacy that would result in the best outcome.
Brian Kinard Legislative Chair South Carolina REALTORS® S C R E A LT O R S . O R G
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2024 SCR Advocacy Guide
2023 Annual Report on the South Carolina Housing Market
Quick Facts New Listings 126,718
Pending Sales
126,903
2019
132,409
120,059
110,223
+ 0.1%
+ 4.3%
- 9.3%
- 8.2%
2020
2021
2022
2023
Top 5 Areas: Change in New Listings from 2022
99,308
114,595
122,337 96,132
87,827
+ 15.4%
+ 6.8%
- 21.4%
- 8.6%
2020
2021
2022
2023
2019
Spartanburg Western Upstate Aiken Greater Greenville CMLS
+ 6.3% + 1.7% - 1.3% - 1.8% - 3.5%
Top 5 Areas: Change in Pending Sales from 2022 Spartanburg Western Upstate Sumter Beaufort Greater Greenville
+ 7.8% + 0.1% - 3.6% - 4.1% - 4.5%
Bottom 5 Areas: Change in New Listings from 2022 Greater Augusta Pee Dee Sumter Piedmont Cherokee
- 11.3% - 11.5% - 13.2% - 15.4% - 15.9%
Bottom 5 Areas: Change in Pending Sales from 2022 Greenwood Pee Dee Greater Augusta Piedmont Cherokee
- 11.4% - 12.2% - 13.5% - 13.7% - 14.7%
Closed Sales
Inventory of Homes for Sale At the end of the year.
98,319
109,487
28,183
121,744 102,327
88,078
18,221
17,002
19,741
11,036
2019
+ 11.4%
+ 11.2%
- 15.9%
- 13.9%
2020
2021
2022
2023
Top 5 Areas: Change in Closed Sales from 2022 Spartanburg Beaufort Western Upstate Hilton Head Greater Greenville
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- 35.1%
+ 65.1%
+ 8.3%
2020
2021
2022
2023
Top 5 Areas: Change in Homes for Sale from 2022 - 1.3% - 5.1% - 6.3% - 7.5% - 8.1%
Bottom 5 Areas: Change in Closed Sales from 2022 Aiken Central Carolina Greater Augusta Piedmont Cherokee
2019
- 39.7%
Cherokee Aiken Coastal Carolinas Greater Augusta Greater Greenville
- 5.5% - 5.8% - 26.6% - 35.0% - 37.4%
Bottom 5 Areas: Change in Homes for Sale from 2022 - 15.8% - 17.2% - 17.9% - 18.0% - 21.4%
Pee Dee Greenwood Central Carolina Hilton Head Piedmont
- 43.9% - 44.3% - 47.7% - 52.6% - 55.3%
S C R E A LT O R S . O R G Current as of January 10, 2024. All data from the Multiple Listing Services of South Carolina. Provided by South Carolina REALTORS®. Report © 2024 ShowingTime. | 3
2024 SCR Advocacy Guide
2023 Annual Report on the South Carolina Housing Market
Quick Facts Average Sales Price
Median Sales Price $315,797 $218,616
2019
$240,000
$325,000
$395,543
$412,107
$349,463
$273,000 $265,476
+ 9.8%
+ 13.8%
+ 15.7%
+ 2.9%
2020
2021
2022
2023
2019
$302,731
+ 14.0%
+ 15.4%
+ 13.2%
+ 4.2%
2020
2021
2022
2023
Top 5 Areas: Change in Median Sales Price from 2022 Greenwood Beaufort Hilton Head Spartanburg Western Upstate
+ 10.6% + 8.7% + 8.4% + 7.7% + 7.4%
Top 5 Areas: Change in Avg. Sales Price from 2022 Greenwood Beaufort Coastal Carolinas Sumter Aiken
+ 9.4% + 7.7% + 6.0% + 5.5% + 5.4%
Bottom 5 Areas: Change in Median Sales Price from 2022 Greater Augusta CMLS Charleston Trident Central Carolina Piedmont
+ 2.2% + 1.8% + 1.8% + 0.3% - 1.8%
Bottom 5 Areas: Change in Avg. Sales Price from 2022 CMLS Greater Augusta Pee Dee Piedmont Central Carolina
+ 2.2% + 2.1% + 1.7% + 0.0% - 0.1%
Days on Market Until Sale 82
Percent of List Price Received 99.6%
77
99.6%
65 51
48
98.2%
98.1% 97.5%
2019
- 6.1%
- 33.8%
- 5.9%
+ 35.4%
2020
2021
2022
2023
2019
+ 0.6%
+ 1.5%
0.0%
- 1.4%
2020
2021
2022
2023
Top 5 Areas: Change in Days on Market from 2022 Spartanburg Greater Greenville Sumter Piedmont CMLS
+ 118.8% + 70.4% + 61.1% + 52.2% + 50.0%
Top 5 Areas: Change in Pct. of List Price Received from 2022 Greenwood Central Carolina Cherokee Sumter Western Upstate
- 0.1% - 0.6% - 0.8% - 0.8% - 0.9%
Bottom 5 Areas: Change in Days on Market from 2022 Greenwood Greater Augusta Pee Dee Cherokee Central Carolina
+ 14.6% + 14.5% + 11.2% + 9.2% + 8.0%
Bottom 5 Areas: Change in Pct. of List Price Received from 2022 Hilton Head Piedmont CMLS Greater Greenville Coastal Carolinas
- 1.3% - 1.5% - 1.5% - 1.5% - 1.5%
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Current as of January 10, 2024. All data from the Multiple Listing Services of South Carolina. Provided by South Carolina REALTORS®. Report © 2024 ShowingTime. 3| 4
2024 SCR Advocacy Guide
2024 LEGISLATIVE PRIORITIES
S.953 STATEWIDE FRAMEWORK FOR SHORT-TERM RENTALS Short-term rentals (STRs) are a vital part of South Carolina’s housing economy. Short-term rental properties can bring a positive economic impact to a city or county through additional tax revenues and benefit the communities as a whole by filling gaps in markets where additional lodging is needed. SCR supports lawmakers in efforts to protect an individual’s property rights from local overreach by disallowing municipalities from outright bans of short-term rentals. We support the creation of fair rules and mechanisms to enhance accountability and transparency such as tax remittance, registrations, and other necessary ordinances to protect the public and consumer’s quality of life.
$4.2B ANNUAL ESTIMATED ECONOMIC IMPACT
50,231 JOBS
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$1.4B
IN LABOR INCOME
2024 SCR Advocacy Guide
2024 LEGISLATIVE PRIORITIES H.4754 REAL ESTATE LICENSE LAW UPDATE New social media, advertising, and educational technologies have dramatically changed how properties are bought, sold, and managed. This presents both opportunities and challenges. The legal changes in this law allow for a more modernized real estate industry that is better governed, protects consumers, promotes professionalism, and increases accountability among industry players. These updates are needed to keep pace with a fast-moving industry. Working with the South Carolina Real Estate Commission, SCR calls upon our legislative leaders to support these SC Real Estate License Law changes.
CONSUMER PROTECTION • Allows for internet and social media marketing • Ends preferential treatment for nonresident licensees
MODERNIZATION & BETTER GOVERNANCE • Prohibition in the practice of “wholesaling” for real estate licensees • Increased educational requirements
INDUSTRY CHANGES • Increase industry professionalism • Institute uniform advertising methods
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2024 SCR Advocacy Guide
2024 LEGISLATIVE PRIORITIES H.4247/S.881 – PROHIBITION OF UNFAIR REAL ESTATE SERVICE AGREEMENTS Real estate service agreements - specifically long-term marketing agreements - between property owners and real estate service providers, typically involve extended commitments during which property owners are bound to exclusive arrangements with specific agencies for the marketing and sale of their properties. Passage of this legislation will ensure that consumers are adequately protected from predatory marketing/listing practices.
SERVICE AGREEMENTS LASTING MORE THAN ONE YEAR
PURPORTING TO RUN WITH THE LAND OR TO BE BINDING ON FUTURE OWNERS OF INTERESTS IN THE REAL PROPERTY
UNFAIR
ALLOWING FOR ASSIGNMENT OF THE RIGHT TO PROVIDE SERVICE WITHOUT NOTICE AND AGREEMENT OF THE OWNER OF RESIDENTIAL REAL ESTATE
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SERVICE AGREEMENTS
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CREATING A LIEN, ENCUMBRANCE, OR OTHER REAL PROPERTY SECURITY INTEREST
2024 SCR Advocacy Guide
RPAC ELECTION RESULTS & DETAILS
2023 State House Direct Contributions
20%
80%
REPUBLICAN
DEMOCRAT
66%
WIN RATE
Local Elections Direct Contributions
8%
92%
PARTISAN
NON-PARTISAN
67%
WIN RATE
Independent Expenditures
17
Independent Expenditures
11
Resulted in a win for an RPAC supported candidate
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Race was a successful runoff victory
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HIGHLIGHTING RPAC 2023 SUCCESSES
$776,103
287
RPAC STATEWIDE FUNDRAISING
RPAC MAJOR INVESTORS
RPAC PARTICIPATION
7,287
39
70
REALTOR® PARTY TEXT ALERTS
RPAC ELECTION RESULTS & DETAILS
PRESIDENT’S CIRCLE
FOR ACHIEVEMENT IN REACHING RPAC FUNDRAISING GOALS IN 2023 • • • • • • • •
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40.73%
Aiken Association of REALTORS® Beaufort-Jasper County REALTORS® Sumter Board of REALTORS® Pee Dee REALTOR® Association Coastal Carolinas Association of REALTORS® Greenwood Association of REALTORS® Hilton Head Area REALTORS® Spartanburg Association of REALTORS®
YPN RPAC PLEDGES
THE FOLLOWING COMMITTEES REACHED 100% RPAC PARTICIPATION! • • • • • • • • •
Finance Committee Executive Committee Legislative Committee RPAC Trustees Nominating Committee Candidate Screening Committee Federal Political Coordinators (FPCs) Awards Committee REALTOR® Foundation
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2024 SCR Advocacy Guide
WHAT IS RPAC? (REALTORS® POLITICAL ACTION COMMITTEE)
Since 1969, RPAC has promoted the election of pro-REALTOR® candidates across the U.S. and South Carolina. The purpose of RPAC is clear: voluntary contributions made by REALTORS® are used to help elect candidates who understand and support their interests. These are not members’ dues; this is money given freely by REALTORS® in recognition of the importance of the political process. REALTORS® Political Action Committee and other political fundraising are the keys to protecting and promoting the real estate industry.
CALL TO ACTION Congress averted a Government Shutdown and a lapse in the National Flood Insurance Program (NFIP) in September 2023 after REALTORS® made a huge advocacy push. Through the call to action launched by NAR, over 1.5 million were mobilized to contact Congress and warn of the dangers of letting the NFIP lapse during a shutdown. According to NAR a lapse of the NFIP would have disrupted the purchase of flood insurance in more than 20,000 communities nationwide with an extended lapse in NFIP authority affecting 1,300 real estate transactions per day. Without REALTORS® efforts through this national Call To Action the NFIP may not have been reauthorized and over 200,000 South Carolinians would have lost or had a lapse in coverage! What can REALTORS® do today to help their industry? If you have not done so already, sign up for REALTOR® Party Mobile Alerts by scanning the QR code!
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FAQs
Q: What is RPAC? A: The REALTORS® Political Action Committee, governed by a Board of Trustees from across the state’s 15 local boards and associations, evaluates and supports elective representatives at all levels of government who believe in REALTOR® Party values. Before any dollars are approved, candidates are thoroughly vetted by the RPAC Trustees. Complying with all state ethics laws, including additional voluntary reporting, RPAC is the largest PAC based on state ethics commission reporting. Q: Where does my investment in RPAC go? A: For every dollar you invest in RPAC– 30 percent goes to the National Association of REALTORS® to support federal advocacy goals, and the rest stays in South Carolina, split between state and local races. Forty percent to statewide candidates, and 30 percent to support local candidates right in your backyard. Q: If I don’t believe in giving money to political candidates, why should I give money to RPAC? A: By giving to RPAC, you are investing in your own business and ensuring we help secure the future of our industry. When you pay auto or home insurance, you are protecting yourself from potential harm to your car or home. Like that, we want you to invest in candidates who will support the interests of your business and protect you from the detrimental impacts of policies that do not represent the best interest of our industry. Q: I am not a full-time REALTOR® , so why should I contribute? A: While you’re looking out for your clients, who’s always looking out for you and your interests? The answer – RPAC – the REALTORS® Political Action Committee. Our legislative wins would not be possible without REALTORS® investment in RPAC.
Without RPAC REALTORS® wouldn’t have been able to: • Continue working during the COVID-19 pandemic. REALTORS® were deemed essential meaning that you did not have to close the doors to your business or your clients. • Fight for policies that support homeownership and housing opportunities for all. We are making sure the REALTOR® agenda is represented at the statehouse and at every level of government. Together, we’re a powerful voice working across the aisle to solve the issues of today… and looking to the future. Q: What if I am a Democrat/Republican, and RPAC has supported candidates of the other party? A: The REALTOR® Party is not about Democrats or Republicans; it’s about policies, not politics, that support strong communities, protect property interests and homeownership, and promote a vibrant business environment. Basically, what we, as REALTORS®, believe in and fight for every day. Advocacy that helps keep money in your pocket. Q: Other than a monetary contribution, how else can I support South Carolina REALTORS®? A: We’re the only ones protecting private property rights and the American dream of home ownership. So, get beyond the day-to-day transactions. Invest a little in your future. Invest in your business by getting involved in your association. In addition to investing in RPAC, make sure you’re registered to vote, vote and encourage others to vote, and act by getting involved with your local association. Serve on committees, and participate in advocacy and community outreach events. We need you. Vote. Act. Invest.
CONTACT INFORMATION
Austin Smallwood VP of Legal and Regulatory Affairs Phone: (803) 807-2094 Email: austin@screaltors.org
Lindsay Jackson Hutto Chief Advocacy Officer Phone: (803) 807-2129 Email: ljhutto@screaltors.org Louis Dettorre Political Director Phone: (803) 470-5945 Email: louis@screaltors.org 10
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2024 SCR Advocacy Guide
THANK YOU, REALTORS®
“Thank you, REALTORS® and associations for stepping up in 2023 to advance homeownership, protect private property rights, and promote investing in real estate.”
2023 RPAC MAJOR INVESTORS
ADAIR SENN, 2024 RPAC CHAIR
PLATINUM R
Heather Baker, Jeffrey Hunt, Sandy Stone
GOLDEN R
Keon Aldrich, Bradley Allen, Michael Beckstrom, David Burnett, Samantha Carter-Campbell, Cynthia Creamer, Laura Crowther, Laura Derrick, Larisa Esmat, Heather Ferrante, Bobette Fisher, Kevin Foy, Michael Gonzalez, Lorraine Harding, Jeannine Kees, David Kent, Thomas Kersey, Nick Kremydas, De’Laine Law, Brandi Minchillo, Nell Postell, Robert Pratt, Charley Ray, Wil Riley, Carl Schroeder, Milton Shockley, Reah Smith, Donna Smith, Owen Tyler, James Wedgeworth, Justin Winter
CRYSTAL R
Jamie Broadhurst, Charles Caughman, Sallie Chester, Gregory Coggins, Dino DiNenna, Nell Folkens, Rusty Garrett, Sandy Gaskins, David Gerwels, Drew Grossklaus, Ashley Jackrel, Hayden Jennings, Alan Leichtle, Candy Limehouse, J.T. Livingston, Alison Melton, Cameron Ray Michael, Daniel Moskowitz, Linda Rademacher, John Smith, Steve Taylor, Cat Thornton, Vel Thurber Everett, Julie Whitesell
STERLING R
Lisa Alexander, JaVonna Alexander, Tabatha Amodio, Luke Anderson, Brandon Arnette, Nathan Arnold, John Aust, Chris Bailey, Elizabeth Baker, Heather Baldwin, Jean Beck, Bri Bender, Sabeth Biangone, Melissa Bills, Richard Bischoff, Thomas Blackmon, Frances Boyd, John Brabham, Robby Brady, David Bragg, Brett Branham, Katesha Breland, Rhett Brown, Matthew Brownlee, Annette Bryant, Robert Bunting, Susan Burgess, Nick Carlson, Lori Carnes, Jamell Casteal, Adam Cates, Mary Caughman, Nicholas Caughman, Roger Chapman, Anthony Chestnut, Mary Childress, Norman Clay, Don Cleveland, Dale Clift, Colleen Coesens, Peggy Collins, Madison Cooper, Wendy Corbitt, Stephanie Cox, Ray Crotts, Brenda Daly, Jeffrey Davis, Monica Davis, Mark Davis-Cote, Louis Dettorre, Renny Diedrich, Josh Dix, Elizabeth Drake, John Draughn, Katherine Drerup, Jaclyn Edwards, Katie Elliott, Patrick Enzor, Bob Fedder, James Feldman, Jennifer Feliciano, Randall Fix, George Flathmann, Denise Franklin, Emily French, Amy Friedman, Amanda Fulford, Kim Fuller, Mary Galloway, Thomas Geer, Christina Geis, Michelle Gleed, Karen Glisson, Marty Glisson, Allison Greco, Janet Gresham, Deborah Griggs, Olivia Grimsley, John Grisillo, Jeffrey Hall, Robyn Hall, Brad Halter, Mark Hardee, Brian Hardyman, Alan Harry, Pat Harvey-Palmer, Claire Hayden, Shae Helms, Rebecca Herman, Marvin Heyd, Mike Hill, Peggy Hill, Richard Hollifield, Kaci Hollingsworth, Nora Hooper, Leslie Horne, Nigel Horonzy, Robert Hydorn, Jerrianne Jackson, Ron Jackson, Ken Jackson, Ethan James, Julia Janning, Julie Jebaily, Paul Jernigan, Byron Johnson, Connie Johnson, Anna Johnson, Troy Jones, Seth June, Brian Kinard, Byron King, Michael King, Mitzi Kirsch, Ryan Korros, Melodye Lane-Laveglia, Kimberly Lease, Jean Leatherman, Andy Lee, Terrence Leifheit, Ruth LeMoine, Thomas Ligon, John Lindstrand, David Lockwood, Morris Lyles, Seabrook Marchant, Holly Markt, Kim Matthews, Amy McCalman Kirby, Stan McCune, Michael McFee, Lakesha McKelvey, Morgan McLamb, William McMillan, Scott McNew, Shaun McTernan, Lisa Medford, Corwyn Melette, Leah Melvin, Maria Mendoza, Mark Mitchell, Janelle Mitchell, Veronica Mullenix, Charles Munn, Lynwood Munsey, Michael Murphy, Phillip Nagley, Carolann Newton, Lisa Newton, Jennifer Nicely, William Nichols III, Kristin Owens, Taylor Oxendine, Leslie Payeur, Angela Peterson, David Phillips, Kathleen Pinson, Joe Pitts, Brenda Poling-Chandler, Rhonda Porter, Jason Potter, Billie Prater, Candace Pratt, Jane Pugh, Robin Pye, Christie Rainwater, Amelia Randall, Rob Reichel, Sonya Reiselt, J.D. Rinehart, Robert Rini, Laura Rippy, Jo Anne Rizza, Kevin Ruthven, Karen Ryan, Michael Sally, Charles Sampson, David Sansom, Kathy Schroder, Nicole Scialabba, Vonda Sellers Ford, Adair Senn, Miles Servant, Mil Servant III, Ronald Shealy, Kravonda Simmons, Lynn Skidmore, Mary Sloan, Mary Sloka, Don Smith, Keith Smith, Ashley Smith,Nicholas Sowers, Jane Stephens, Daniella Stonefield, Drew Streett, Rick Stroud, Jon Stroud, Karena Sturgis, Shana Swain, Lawrence Taylor, Heather Tenney, Don Thomas, Mark Thompson, Candace Thompson, Talmadge Tobias, Richard Trappier, Lewis Tucker, Andrew Twisdale, Amanda Unerli, Clay Vassey, Jodi Viehman, Kelsey Watford, Barbara Watts, Patricia Weaver, Meghan Weinreich, Denise Wells, Susan Wheatley, Patricia Wilds, Sharon Wilson, Stephanie Wilson-Hartzog, Randolph Wolcott, Darren Woodard, Rob Woodul, Jacinda Wright, Kate Yachini, Bill Yates
ASSOCIATIONS
South Carolina REALTORS®, Beaufort-Jasper County REALTORS®, Coastal Carolinas Association of REALTORS®, Charleston Trident Association of REALTORS®, REALTOR® Association of Greater Pee Dee, Greenwood Association of REALTORS®, Hilton Head Area REALTORS®, Piedmont Regional Association of REALTORS® S C R E A LT O R S . O R G
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CLOSING STATEMENT FROM THE CEO
South Carolina REALTORS®, South Carolina stands as an exceptional place to call home, boasting a remarkable surge in economic prosperity stretching from Charleston to Greenville, Beaufort to Myrtle Beach, and everywhere in between. This flourishing growth has contributed to continued supply and demand issues we face across the state. The rising interest rates, which are now on the decline in 2024, home prices, and the increasing demand to learn new technological advancements have put 2023 on my list of challenging years in real estate, but through all that, we still had an incredible year as an industry. I am excited to work with you to achieve our mutual goals to facilitate positive policy outcomes that benefit not only the South Carolina REALTORS® but all citizens of South Carolina. Through our South Carolina Good Life Initiative, we focus on the following: 1. 2. 3.
Helping create plans for the growing population and how to improve infrastructure effectively to promote homeownership and provide more affordable workforce housing options Supporting policies that encourage conservation and the wise use of natural resources Raising the profile of South Carolina’s growing economic development opportunities across the state, removing barriers to investment in South Carolina real estate
In 2023, SCR implemented several new products and services for our members. The new safety application, Forewarn, had the fastest adoption rate of any member service ever! Within just the first three months, 10,000 members were actively using the service. Forewarn is a proactive safety and intelligence app that provides instate knowledge prior to face-to-face engagements to better understand and address risk. Also addressing risk, SCR launched a new Legal Podcast series that shares with members the hottest topics on the legal hotline and top issues facing the real estate commission. SCR also launched Spanish translations of our most popular real estate contracts recognizing this fastest growing demographic of first time homebuyers. Please like SCR’s Facebook page (www.fb.com/screaltors) and subscribe to SCR’s YouTube Channel at www.youtube.com/screaltors to view all the latest updates from SCR. As we look ahead to 2024, we are enthusiastic about carrying forward the positive momentum generated in 2023.
Thank you for your support! Nick Kremydas Chief Executive Officer Phone: (803) 807-2036 Email: nick@screaltors.org
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NOTES
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