GREC REnews, Vol. 2, Issue 7 (July 2006)

Georgia Real Estate Commission

GREC RENEWS

Volume 2, Issue 7 July 2006

2006 Dates to Note
July 13, 2006 Trust Account Seminar Atlanta Board of Realtors 800-633-3583
July 20-21, 2006 Georgia Instructor Training Workshop (GIT)
August 29, 2006 Trust Account Seminar West Georgia Board of Realtors (770) 949-9966
GREC Disciplinary Sanctions

INSIDE THIS ISSUE:

North Carolina's New

Broker's License

1

Aging Population 2

Focus on Terminology:
"Livable
Communities"
Georgia Real Estate Commission Suite 1000, International Tower 229 Peachtree Street N.E. Atlanta, GA 30303-1605

North Carolina's New Broker's Licenses
This year the North Carolina Real Estate Commission (NCREC) has begun issuing only broker's licenses. Its existing salespersons (including Georgians who hold nonresident salespersons licenses) have been issued "provisional broker's licenses" and given time to take the additional education courses required to remove that "provisional" designation.
The NCREC and GREC have agreed that: 1. if a GA salesperson with a NC "provisional broker's license" obtains a broker's
license in GA, the provisional status will be removed in NC; 2. a non-resident GA salesperson who has obtained a NC "provisional broker's
license" must complete at least 30 hours of additional education in each of the next three years in order to maintain an active non-resident's license in NC; 3. GA licensees may take that additional education in GA; 4. the non-resident GA licensee may choose to take all 90 hours the first year or 60 the first year and 30 the second or third year; and 5. the non-resident is not required to take a course with a particular curriculum. Thus, a GA licensee could take GA's 25 hour Salespersons Postlicense Course, a six hour continuing education course, and a GA 60 hour Brokers Prelicense Course to meet NC requirements. Alternatively, if the courses are approved by the GREC, he or she might take (a) a course or courses of at least 90 hours leading to a designation offered by a private trade association; (b) six fifteen hour courses on real estate subjects; or (c) 15 six hour courses on real estate subjects, as long as at least thirty hours are completed each year.
Since the NCREC does not require the passing of a state administered qualifying examination to remove their new "provisional" status, a GA resident salesperson may not become a non-resident "provisional broker" or "broker" in NC and apply for a reciprocal broker's license in Georgia without first meeting GA's education, experience, and examination requirements for a broker's license.
Focus on Terminology: "Livable Communities"
Livable Communities is an evolving term as communities strive to address transportation problems, conserve natural resources, and provide for an aging population. Ideally neighborhoods should be designed for people of all ages to live in them. Various elements are essential to these communities such as: Higher density land usage Mixed-use developments as opposed to separate
developments for each use (instead of retail centers, subdivisions, and office parks) Public transportation and pedestrian-friendly streets Accessible and varied shopping Nearby medical services Job opportunities for a variety of skill sets Various forms of recreation to meet a wide range of activity levels. Livable communities provide an alternative to suburban commuters as well as an easier, more efficient lifestyle than traditional housing for seniors. No doubt the design of such centers will become more efficient and creative as more of the population ages and returns to urban areas. 1

Georgia Real Estate Commission
Suite 1000, International Tower 229 Peachtree Street N.E. Atlanta, GA 30303-1605
U.S. Population Clock

Aging Population
Opportunities for niche specialization in senior housing appear boundless in view of population trends. In the year 2004, people 65+ represented 12.4% of the population and are projected to be 20% of the population by 2030.
Estimates for the population age 65+ 35 million in 2000 40 million in 2010 55 million in 2020

Volume 2, Issue 7 July 2006
Georgia ranks as the 9th State in total population at 9,072,576 people.
Resource Links:
Administration on Aging Census Fact Finder Population Ranking
Trends in population, aging, lifestyle changes, and technological advantages constantly create opportunities for creative solutions and niche specialization.

299,045,250

Consider the Following Graphs from the U.S. Census Bureau: Compare Year 2000 to Year 2025: Note the Change in the overall shape of the graph and the projected increase in that portion of the population over age 50.

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