The South Dakota Real Estate Commission, in response to a U.S. Department of Justice investigation, rescinded and nullified two declaratory rulings that prohibited licensees from offering rebates, inducements or other discounts to consumers.
All South Dakota licensees may offer consumers rebates of commission fees, inducements or other discounts. South Dakota licensees also may use truthful and non-misleading advertisements to notify consumers of rebates, inducements or other discounts which they may choose to offer.
If you were disciplined for offering a rebate, inducement or other discount, then that disciplinary action shall be deemed null and void, and the Commission will note that in its records.
Please note the Commission's decision to nullify and rescind the declaratory rulings that banned rebates, inducements or other discounts does not alter the Commission's authority to enforce other regulations or declaratory rulings generally and to prohibit advertising or other conduct that is fraudulent, false, deceptive or misleading.
The following resolutions are available in Adobe .pdf format*.