GREC REnews, 2021 February

GGRREECC RREENNeewwss February 2021
Volume 17 Issue 2

Monthly Newsletter of the Georgia Real
Estate Commission

Calendar
TBA
Link to the Georgia Real Estate License Laws, Rules, and Regulations
Link to GREC Disciplinary Actions View Current
Suspensions and Revocations

This Issue:

GREC 2020 Year in Review

P.1

Opportunity at GREC

P.1

Disciplinary Stats

P.1

AMK Section: UFTP

P. 2

Instructor CE Opportunity

P. 2

Focus on Terminology

P.2

GREC 2020 Year in Review
Each February issue of the GREC RENewsletter recaps the previous year updates or changes to the Georgia License Law, Rules, and Regulations. No changes to the Georgia Real Estate License Law were passed in 2020. Although the Commission office is currently not open to the public, the GREC staff continues to provide all staff services through email, phone, and online services from the GREC web site.
In 2020 the Commission focused on adapting its methods of providing services and enabled approved schools to modify presentation and delivery methods so that licensees have options to meet education requirements. Currently, there are many schools offering various courses virtually. In addition, online courses are available including the GREC courses online. Licensees can verify the education credits posted to their license in the online services of the Commission website.

Job Opportunity at the Georgia Real Estate Commission Opening for position as Investigator with GREC. For more information, go to https://grec.state.ga.us/job-opportunity-at-grec/

Link to Proposed Rule Changes

Georgia Real Estate Commission Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916

Click here to review a legend of the disciplinary actions the Commission may impose.
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GREC RENews February 2021, Volume 17 Issue 2

Online Courses from I GREC approved for:
License Law Continuing
Ed Instructor
CE 3 - 9 Hours
CE 1. Being a Broker
and Staying Out of Trouble 2. Avoiding Trust Account Trouble 3. Practicing Real Estate & Staying Out of Trouble
Click Here to Enroll $10 Each

bsolutely ust now Section
The Georgia Real Estate Commission administers the Georgia Real Estate License Law that regulates all real estate licensees: brokers, associate brokers, salespersons, and community association managers. As a regulator, its purpose is to protect the public interest.
The license law is Title 43 Chapter 40, and the law is further clarified by the Rules and Regulations in Chapter 520-1-4. One section of the law, 43-40-25, is a list of Unfair Trade Practices which is a good review for any licensee. This chapter very clearly lists 34 specific Unfair Trade Practices, each of which is a violation of the license law. Every licensee should understand and periodically review these Unfair Trade Practices for compliance. These can be accessed from the Information and Research tab on the GREC website at https://grec.state.ga.us/informationresearch/license-law/.
Instructor CE
Georgia approved Instructors can obtain Instructor CE from various sources including those offered by the Alabama Real Estate Commission. The Alabama Real Estate Commission advertised 2021 instructor CE training options including a March 11 IDW offered virtually by the Birmingham Association of REALTORS, an April 2 IDW offered virtually by AREEA, and also noted the REEA Conference offered in Atlanta in October and an IDW on September 17 offered in the Alabama Commission's training room.

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GREC RENewsletter
Click Here
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Georgia Real Estate Commission Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916

Focus on Terminology: "FTC Act and FTC"
The Federal Trade Commission (FTC) was created on September 26, 1914, when President Woodrow Wilson signed the Federal Trade Commission Act into law. The FTC's mission is to protect consumers and promote competition. (Similarly, the Georgia Real Estate Commission is empowered on a state level by the Georgia Real Estate License Law to protect the public interest.) The Federal Trade Commission (FTC) is involved in a spectrum of activities such as investigating complaints, developing, and publishing guidelines for various disclosures, advertising, consumer protection, buying guides, telemarketing, used cars, energy guides, scams, credit reporting, to initiating lawsuits involving real estate brokerage, real estate mortgages and other business interests. The Federal Trade Commission is empowered, among other things, to (a) prevent unfair methods of competition and unfair or deceptive acts or practices in or affecting commerce; (b) seek monetary redress and other relief for conduct injurious to consumers; (c) prescribe rules defining with specificity acts or practices that are unfair or deceptive, and establishing requirements designed to prevent such acts or practices; (d) gather and compile information and conduct investigations relating to the organization, business, practices, and management of entities engaged in commerce; and (e) make reports and legislative recommendations to Congress and the public. A number of other statutes listed here are enforced under the FTC Act."
Source: https://www.ftc.gov/enforcement/statutes/federal-trade-commission-act
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