The Commission has the power to grant, suspend, or sanction licenses of individuals, but it does not have the authority to revoke or grant licenses of firms. However, the Commission can take disciplinary action against a firm's license if it is found that the firm has violated real estate laws and regulations.
What does the Georgia Real Estate Commission do?
The Georgia Real Estate Commission & Appraisers Board ensures that real estate licensees and appraisers are professionally qualified and promotes a fair and honest market environment for those involved in real estate transactions throughout the state.
Which of the following is the purpose of Georgia real estate law?
The purpose of Georgia real estate law is to… protect the public; specifically against dishonest/incompetent real estate agents.
What is the Georgia Real Estate Commission composed of?
Six people
The Commission is appointed by the governor and is comprised of six people. Five of those six must be real estate professionals actively participating in the industry for no less than five years. The final person must have no connection to the real estate industry and instead must be an active consumer advocate.
What is the fine for real estate commission in Georgia?
A citation issued by the Commission may include an order to complete a course of study in real estate brokerage or instruction; to file periodic reports by an independent accountant on a real estate broker's designated trust account; and/or to pay a fine not to exceed $1,000.00 for each violation, with fines for
What is the role of the real estate commissioner?
The Real Estate Commissioner, who is appointed by the Governor, is the chief executive of the Department of Real Estate. To facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law, the Commissioner is empowered by law to issue regulations.
This commission would have the constitutional authority to subpoena all relevant documents and witnesses, with enforceable felony criminal penalties for any destroyed documents and jail time for witnesses refusing to comply or who perjury themselves during testimony.
— SteelerD (@DQStrong) February 18, 2021
What is 2780 of DRE Commissioner's regulations regarding?
In general, the purpose of Section 2780 is to protect consumers who are members of protected classes from a wide variety of discriminatory conduct by the real estate licensees that they directly work with, as well as those licensees Page 4 4 who may influence the licensees who are working for consumers in protected
Frequently Asked Questions
What is the maximum commission for loans subject to Article 7 for first loans?
(b) The maximum amount of the charges referred to in subdivision (b) of Section 10241 shall not exceed the following amounts: (1) In the case of a loan secured directly or collaterally, in whole or in part by a first trust deed, 5 percent of the principal amount of the loan where the term of the loan is a period of
How long is a Georgia real estate license good for?
Four years
Georgia requires you to renew your real estate license every four years. Your license expires on the last day of your birthday month every four years. For example, if you were born on October 14, your license would expire on October 31. You can renew it as early as four months before it expires.
How are members of the Georgia Real Estate Commission Grec appointed?
GREC is made up of six members, who serve five-year terms. They're appointed by the governor, then confirmed by the state senate.
Who appoints members of the Georgia Real Estate Commission?
The governor
The Commission is appointed by the governor and is comprised of six people. Five of those six must be real estate professionals actively participating in the industry for no less than five years. The final person must have no connection to the real estate industry and instead must be an active consumer advocate.
Who selects the chair of the Georgia Real Estate Commission?
6 members appointed by the governor and approved by the senate. 5 members actively licensed and residence of GA for 5 years. 1 member no license - consumer protection. Chair and Vice-chair come from 6 members.
FAQ
- How many members of the Georgia Real Estate Commission are real estate professionals?
- Five commission members Five commission members must be Georgia residents and have an active real estate career for a minimum of five years. One member of the GREC is from the general public without a real estate career. This member must have a recognized interest in the protection of consumers.
- What is the term real estate quizlet?
- Real estate, or realty, is defined as: land at, above, and below the earth's surface, including all things permanently attached to it whether natural or artificial.
- What length of term do the members of the Georgia real estate Commission serve?
- Five years (a) There is created the Georgia Real Estate Commission, which shall be composed of six members, each of whom shall be appointed by the Governor and confirmed by the Senate for a term of five years.
- What does the term real property include real estate and ________?
- Real estate is land at, above, and below the earth's surface, including everything permanently attached to it, whether natural or artificial. Real property is everything included in real estate, plus the rights of ownership, including the right to possess, sell, lease, and enjoy the land.
- What is the most common form of advertising used in the real estate business?
- Hear this out loudPauseNewspaper advertising is probably the most common and often the most effective form of advertising for residential property.
Which of the following statements about the georgia real estate commission is true?
| What is a real estate advertisement under TREC rules quizlet? | Hear this out loudPauseWhat is a real estate advertisement under TREC rules? An advertisement is a written or oral statement by a license holder that attempts to induce a member of the public to use the licensee's services. If the broker has done nothing to market the property, the seller may be able to terminate the listing due to. |
| Which option is of the most concern to licensees and advertising? | Hear this out loudPauseFinal answer: Misleading ads are the option of most concern to licensees and advertising when it comes to the Federal Trade Commission. |
| What are the two main categories of real estate advertising? | Hear this out loudPauseInstitutional advertising attempts to create a favorable image of the real estate company, the broker, and the salesperson. Specific advertising, also called operational advertising, describes a particular piece of property and stimulates activity in a specific property. |
| What is the basic rule of advertising in real estate? | Hear this out loudPauseOnly advertise listed properties with authorization from the listing agent. Identify yourself as a real estate agent and include the name of the brokerage firm you work within all advertising. Be totally honest in your advertising by avoiding exaggerations and misrepresentations about the property. |
- What does the Georgia Real Estate Commissioner do?
- GREC is responsible for: Administering the real estate license law relevant to brokers, salespersons, and community association managers in Georgia. Maintaining licensee records and compiling reports. Regulating the initial licensing and license renewal process for real estate professionals.
- Who is the commissioner of the Georgia Real Estate Commission?
- Lynn-dempsey georgia-real-estate-commissioner-lynn-dempsey:Georgia Real Estate Commissioner Lynn Dempsey | Georgia Association Of Business Brokers.
- What is the primary responsibility of the Real Estate Commissioner?
- The Commissioner's Role To facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law, the Commissioner is empowered by law to issue regulations. Known as the Regulations of the Real Estate Commissioner, these have the force and effect of law.
- What are the 4 types of Georgia real estate license?
- The state of Georgia offers three types of real estate licenses:
- Community Association Manager license.
- Salesperson license.
- Broker license.
- The state of Georgia offers three types of real estate licenses:
