GREC RENews, 2023 November.

GGRREECC RREENNeewwss November 2023
Volume 19 Issue 11

Monthly Newsletter of the Georgia Real
Estate Commission

2023 Calendar
GREC Annual School Meeting November 30December 1, 2023 Athens, GA
Click Here To Register
Link to the Georgia Real Estate License Laws, Rules, and Regulations
Link to GREC Disciplinary Actions View Current
Suspensions and Revocations

This Issue:

Cases Could be Avoided

P.1

Opportunities at GREC

P.1

Disciplinary Stats

P.1

Licensing Stats

P.2

Annual School Meeting

P.2

Did You Know?

P.2

UTP Review

P.2

Investigative Cases That Could Easily Be Avoided
Understanding GREC License Law, Rules and Regulations is key to properly conducting real estate brokerage activity. Consider the synopses below of two unrelated cases. The violations could easily have been avoided by following the License Law. Case One:
A Salesperson failed to submit a copy of the listing agreement on a property in a timely manner to her Broker.
The Salesperson also failed to have a written agreement with his unlicensed assistant, so there was no agreement identifying the specific duties and responsibilities of the unlicensed assistant. 520-1-.07(a) and 520-1-.10(3).
Case Two: An Associate Broker entered into an Exclusive Buyer's Brokerage Agreement with a buyer when she knew, or should have known, another Firm already had an Exclusive Buyer's Brokerage Agreement with that Buyer. 43-40-25 (b) (26)
In both cases the Licensee was found in violation of the License Law, Rules, and Regulations resulting in the issuance of a Citation. They were each required to pay $1,000 to include a fine and reimbursement of legal, administrative, and investigative expenses of the Commission. Each Licensee was also required to complete a Continuing Education course on practicing real estate brokerage activity. Disciplinary Sanctions could result if these requirements were not completed within 45 days.

Two Opportunities at the Georgia Real Estate Commission Investigator Click for More Information Information Specialist Click for More Information

Link to Proposed Rule Changes

Click Here

Click here to review a legend of the disciplinary actions the Commission may impose.

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Ed Instructor
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CE 1. Being a Broker
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GREC RENews November 2023, Volume 19 Issue 11

Licensing Stats and GREC Activity

At the recent Education Advisory Meeting of the Georgia Real Estate Commission,

in October 2023, the Commission provided a report of the trending number of Licensees.

The total number of 116,055 real estate Licenses is the largest number for the state in the

Commission's history. (85% active and 15% inactive.) This is a net increase of 2,625

Licenses in the last year.

The Commission currently issues an average of 408 new licenses per month down from

800 per month last year and 1,200 licenses per month two years ago. The following is the

breakdown of the 98,913 Active Licensees:

Brokers, Salespersons, CAM

88 % (23% are Brokers.)

Real Estate Firms

12%

The number of pending investigative cases for both real estate and appraisal is currently

764. Most of the cases, 87%, concern real estate Licensees primarily because there are

more real estate Licensees. Of the real license investigations, a third are background

application cases from individuals applying for a license.

The GREC Annual School Meeting is being held Friday, December 1, 2023, in conjunction with the GREEA-sponsored Instructor Workshop on Thursday, November 30, 2023. The venue is the University of Georgia Center for Continuing Education Center in Athens, Georgia. To register http://www.annualschoolmeeting.com/asm/welcome/
Approved Georgia Real Estate Instructors must obtain 36 education hours during each 4-year renewal period. The Rule requires that 12 of the 36 hours of continuing education must be obtained by attending 2 Commission annual meetings during each 4year renewal period.
now?
A Broker can be a Qualifying Broker of more than one Firm. Anyone can look on the GREC website to see the original
licensure and expiration date of a Licensee's License.
A real estate Licensee may be suspended for the delinquency of child support payments.
UTP Review
The Unfair Trade Practices (UTP) specify that a Licensee is required to acknowledge and respect the existence of established brokerage relationships with other Licensees and/or Firms. Review the following two Unfair Trade Practices that are a violation of the License Law, Rules, and Regulations: 43-40-25 (b) (26) Obtaining a brokerage agreement, a sales contract, or a lease from any owner, purchaser, or tenant while knowing or having reason to believe that another Broker has an exclusive brokerage agreement with such owner, purchaser, or tenant, unless the Licensee has written permission from the Broker having the first exclusive brokerage agreement; provided, however, that notwithstanding the provisions of this paragraph, a Licensee shall be permitted to present a proposal or bid for community association management if requested to do so in writing from a community association board of directors; 43-40-25 (b) (13) Inducing any party to a contract of sale or lease, or a brokerage agreement to break such contract or brokerage agreement for the purpose of substituting in lieu thereof any other contract or brokerage agreement with another principal;
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