GREC REnews, Vol. 2, Issue 11 (Nov. 2006)

Georgia Real Estate Commission

GREC RENEWS

Volume 2, Issue 11 November 2006

2006 Dates to Note
November 28, 2006 Trust Account Seminar I-85 North Board of Realtors (706) 335-3044
December 14, 2006 Advanced Instructor Training Athens, GA
December 15, 2006 Annual School Meeting Georgia Center for Continuing Education Athens, GA
GREC Disciplinary Sanctions

INSIDE THIS ISSUE:

Reduced Fees

1

EPA Audits

1-2

Lead Resources

2

Focus on Terminology:
"Lead"

Reduced Fees for Licensed Firms Effective January 1, 2007

The law and a court decision charge the Commission with seeking to assure that its fee structure bears a reasonable relationship to its costs of operations. Over the last five years the Commission has made several adjustments to its fee structure (most of which were reductions of fees) in an effort to comply with the law's requirements. The Commission annually reviews that structure and attempts to set each fee it charges based on (a) its operational costs to process and maintain each type of the license it issues and (b) the overall cost for regulating the industry.

In the late 1990s and early

2000s technological changes sharply

reduced

the

Commission's

operational costs for handling

individual licenses. Thus, the

Commission passed on those

savings to licensees in the form of

fee reductions. Recently, various

technological advances have

significantly

reduced

the

Commission's cost to regulate real

estate firms. Thus, the Commission proposed and the legislature approved to pass on those savings to licensees by reducing the renewal fees charged to firms by $100.00 so that they pay the same fee charged individual licensees.
Renewal fees for the four-year renewal period shall be reduced $100 beginning with January 2007 renewals.

License Renewal Firm Licensed as a Broker Approved School Individual Licensee Approved Instructor

Online Payment $100

Regular Payment $125

$100

$125

$100

$125

$100

$125

A licensee can save $25 if the payment is made through the Commission's Internet on-line renewal system at www.grec.state.ga.us.

EPA Audits Real Estate Firms for Compliance

with Lead Based Paint Disclosure

Real estate licensees know that residential properties built prior to 1978

may have lead based paint. Since 1996, federal law has required licensees to

disclose to potential buyers the potential presence of lead based paint in any

residential property built before 1978. Every real estate firm should have

systems in place to be sure that its licensees and clients make the disclosures

and that they have appropriate disclosure forms signed and on file.

To ensure compliance with the Residential Lead-Based Paint Hazard

Reduction Act of 1992, also known as Title X, Section 1018, the EPA conducts

audits of real estate firms handling residential transactions, including single or

multi-family sales, leasing, and property management. These audits are not

intended just to ensure compliance. Their primary

...continued on page 2...

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Georgia Real Estate Commission
Suite 1000, International Tower 229 Peachtree Street N.E. Atlanta, GA 30303-1605
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EPA Audits Real Estate Firms for Compliance with Lead Based Pant Disclosure

Volume 2, Issue 11 November 2006

...continued from page 1 purpose is to safeguard the public. Even since the disclosure requirement was enacted, reports of children being affected by lead based paint poisoning have occurred.
Renovations can be a source of risk if not done properly to avoid releasing large amounts of dust and debris. Before renovating buildings built before 1978, the law requires renovators to distribute a lead hazard information pamphlet to housing owners and occupants. Pre-Renovation Lead Information Rule TSCA 406(b)
The EPA has also developed training courses to provide instruction regarding lead-safe work practices during abatement, removal, renovation, remodeling, rehabilitation, sampling, and maintenance. The EPA administers and oversees the training programs to provide certification of the lead work force. Requirements for lead based paint activities are set by the states. Further information can be obtained from the Georgia Environmental Protection Division (GA EPD), Georgia Lead Poison

Prevention Program. The EPA is actively conducting
reviews and is finding both many firms that do an excellent job of compliance and some firms that make little or no attempt to meet these regulations. Those that do not comply are being charged significant fines.
Licensees should remember that: 1. They must maintain signed acknowledgments of lead based paint disclosures for 3 years, as proof of compliance. 2. A licensee, owner, or landlord who fails to give the proper information can be sued for triple the amount of damages and could be subject to civil and criminal penalties. 3. The EPA imposes fines for noncompliance.
Remember that the purpose of the lead disclosure laws is to protect families and especially young children from the dangers of lead poisoning.
Disclosure forms are available from the EPA website and further resources are listed at the lower part of this page.

Focus on Terminology: "Lead"
"Lead is a highly toxic metal that was used for many years in products found in and around our homes. Lead may cause a range of health effects, from behavioral problems and learning disabilities, to seizures and death. Children 6 years old and under are most at risk, because their bodies are growing quickly. Research suggests that the primary sources of lead exposure for most children are: - deteriorating lead-based paint, - lead contaminated dust, and - lead contaminated residential soil. " The EPA is playing a major role in addressing these residential lead hazards. For more information visit the website at www.epa.gov/lead. You can also speak to an information specialist by contacting The National Lead Information Center (NLIC) at 1-800-424-LEAD (5323)
Resource Web Links for Lead Based Paint Disclosure
www.epa.gov/lead (source of quotes and information in this newsletter) Residential Lead-Based Paint Disclosure Program: Section 1018 of Title X Lead Hazard Information Pamphlet: "Protect Your Family From Lead in Your
Home" Multiple Languages and formats Sample Form: Lessor's Disclosure of Information on Lead-Based Paint and/or
Lead-Based Paint Hazards: PDF format Sample Form: Seller's Disclosure of Information on Lead-Based Paint and/or
Lead-Based Paint Hazards: PDF format Georgia Lead Poison Prevention Program
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