GREC REnews, 2022 September

GGRREECC RREENNeewwss September 2022
Volume 18 Issue 9

Monthly Newsletter of the Georgia Real
Estate Commission

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2022 Calendar
Georgia Instructor Training Workshop (GIT) October 17-18, 2022
Atlanta, GA For more Info, visit greea.org
Link to Proposed Rule
Changes
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RENewsletter Click Here

This Issue
Case in a Capsule GREC Job Opportunities Disciplinary Stats AMK Real Estate Humor Focus on Terminology

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A Salesperson noticed two quality homes on the market that she thought she could advertise. The Salesperson had a personal website and decided to post the two properties on her website even though they were listed with another Firm. Her thought was that if she found a buyer, it would not matter anyway. (Wrong!)
She did not have the permission of the listing Firm to advertise the properties. She had not submitted the content of the website to her Broker for review before launching the website. She failed to include the name and telephone number of her Broker or the name of the Broker holding the listing.
She was issued a Citation, ordered to pay a total of $500 that included a fine and reimbursement to the Commission for its administrative, investigative, and legal costs and expenses.
Two Job Opportunities at the Georgia Real Estate Commission Investigator
https://grec.state.ga.us/wpcontent/uploads/pdfs/About/HireREInvestigator%20August%20%202022.pdf
Information Specialist
https://grec.state.ga.us/wpcontent/uploads/pdfs/About/HireInfoSpec%20August%202022.pdf

Link to GREC Disciplinary Actions
View Current Suspensions and
Revocations
Click Here

Click here to review a legend of the disciplinary actions the Commission may impose.
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Online Courses from GREC
$10 each 3 Hour CE
Course
Total of 9 Hours CE AvailablNe (Approved as License Law
CE and approved as Instructor CE)
"Avoiding Trust
Account Trouble"
"Practicing Real Estate & Staying
Out of Trouble"
"Being a Broker and Staying Out of Trouble"
Click Here
Georgia Real Estate Commission Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916

GREC RENews September 2022, Volume 18 Issue 9
Real Estate Humor
What kind of building weighs the least? A lighthouse. My clients put in an offer or a two-story house - One story before the offer, another story after the offer. How many insects do you need to make money from your rental unit? Tenants. Why did the real estate agent refuse to show a riverfront property? It was too current. My bread and butter are listings with finished basements. They're my best cellars! My truck driver client was so difficult to please. He kept saying he wanted a house with long haul ways. Two pharaohs in ancient Egypt were shopping for anew pyramid, so they contacted a local real estate agent. Buyers: "We want the cheapest pyramid you have." Agent: "Most of my pharaoh clients want the luxurious pyramids since they can last for 3,000 years or more. Can I ask why you only want to look at cheap pyramids?" Buyers: "We want to get our mummy's worth."
Source: https://theclose.com/real-estate-jokes/, Emile L'Eplattenier
bsolutely ust now
The real estate Licensee must keep current with changes in terminology and phraseology to provide competent and professional service to clients. Much of real estate and each specialty within the real estate industry has its own set of terminology. Whether it is residential or commercial real estate or property management, each specialty has acronyms and various terms such as leasing structures, quoted rates, residential terms, acronyms applicable to loan approvals, or environmental issues.
The Georgia Real Estate Infobase, accessible from a link on the GREC website at https://grec.state.ga.us/information-research/infobase-main/ can be a useful tool to find definitions and explanations for various concepts and terms.
In fact, there is a Glossary section of the Infobase that provides links to different real estate dictionaries online. The link at http://www.realestateabc.com/glossary/ provides an alphabetical index for terminology.
Focus on Terminology: "Realtor"
The term Realtor is a registered trademark name and can be clarified from the explanation at their web site. Many people or even publications that are not in the real estate industry, mistakenly refer to all real estate licensees as Realtors, when in fact not all licensees are members, and only members of a Board of Realtors can be accurately referred to as a Realtor. The term Realtor is defined in the InfoBase glossary as "A real estate agent, broker or an associate who holds active membership in a local real estate board that is affiliated with the National Association of Realtors." The "board" is a membership organization, unrelated to the Georgia Real Estate Commission which is a regulatory licensing authority of the State of Georgia.
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