Under what circumstance can the South Dakota Real Estate Commission revoke a salesperson's license?

A salesperson’s license in South Dakota can be revoked if they deposit a buyer's down payment into their personal account. This action is a serious violation of the ethical and legal standards governing real estate practice. Personal accounts should never be used for client funds, as this can lead to misappropriation of funds and breach of trust with clients. It is vital for real estate professionals to maintain clear boundaries between personal finances and client transactions in order to safeguard clients' monies, fulfill fiduciary duties, and comply with regulatory requirements.

In contrast, while failing to attend mandatory training sessions or advertising properties without written consent may lead to disciplinary actions, these infractions do not carry the same level of severity as misusing client funds, which can result in a loss of license. Overcharging for service fees is also a serious matter but may not automatically lead to license revocation unless it involves fraudulent practices or consistent violations of the established regulations. Therefore, depositing funds into a personal account directly undermines the integrity of real estate transactions and can have severe repercussions, including revocation of the license.