GREC REnews, Vol. 6, Issue 11 (Nov. 2010)

November 2010 Volume 6 Issue 11

GREC RENews MMoonntthllyyNNeewwslseltetetrteorf
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Calendar
GREC Brokerage Course & Trust Accounts Class Dates:
November 29 & 30, 2010 Statesboro Board (912) 764-3818
December15 & 16, 2010 Metro South Association (770) 477-7579
GREC Annual Schools Meeting:
December 2 & 3, 2010 Athens, GA
http://www.annualschool meeting.com/
Click here to see GREC Disciplinary Sanctions
Happy Holidays from
GREC!
Georgia Real Estate Commission
Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916
Clipart from MicrosoftTMOffice

GREC Online

This Issue: New Free CE Course Online P.1-2
Focus on Terminology P. 2

Now Available...Another FREE Online Course from GREC:
"Being a Broker and Staying Out of Trouble"

In a continuing effort to help

is also still available online at no

licensees avoid infractions of the

charge.

License Law, Rules and

Both courses include examples of

Regulations, the Georgia Real

actual cases reviewed by the

Estate Commission has just

Commission describing the actions of

released the second online course

the licensee(s), the reasons a

in the "staying out of trouble

violation occurred and the disciplinary

series." This course is titled "Being

actions taken.

a Broker and Staying Out of

Although the new course, "Being

Trouble," It is written for all

a Broker and Staying Out of

licensees:

brokers,

Trouble," discusses Broker

salespersons, associate

management

issues,

brokers or CAM.

those issues trickle down

The new course is

to all the licensees under

now available on the

the Broker. This new

Georgia Real Estate

online course addresses

Commission School web

Click Here to

the responsibilities of a

site

at

Enroll

Broker and provides

www.jmre.com/grec. You

resources to help Brokers

must enroll to take the

open and manage a

course, but there is no cost and no

brokerage firm. Salespersons or

need for credit card information.

associate brokers who may be

Upon completion of the course, you

interested in becoming a broker of

will receive 3 hours of Continuing

their own firm will find an entire

Education Credit. Just click

section devoted to opening a

"Register Now" on the GREC

brokerage firm.

School site. The first online course,

The course also includes a

"Practicing Real Estate &

summary of critical brokerage

Staying Out of Trouble Course"

...continued on page 2

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Enroll Now
For Free
GREC Online CE Courses
"Being a Broker & Staying Out of Trouble"
or "Practicing Real Estate & Staying Out of
Trouble" Click Here
To sign up to receive the GREC RENewsletter Click Here
Comments or Suggestions Click Here

GREC RENews November, Volume 6 Issue 11

Another FREE Online Course from GREC

continued from page 1...
management issues and provides lists as tools to help the Broker manage the licensees affiliated with the firm.
Some of the useful resources in the "Being a Broker and Staying Out of Trouble," course include the following: List of items that must be readily
available to the Commission in the case of a routine audit Lists of records required to be maintained A graphic of the Advertising Requirements Click here to download this tool as a sample. Minimum requirements for the firm Policies and Procedures Manual Minimum requirements for the Independent Contractor/Affiliation Agreement

Ideas for Managing Licensees Links to specific License Laws,
Rules and Regulations Ideas for business planning Communication issues to be
addressed for different brokerage business models. The Georgia Real Estate Commission provides several training resources for all licensees. In addition to the online courses, there are several classroom courses available as noted in the Calendar section on page 1 of the GREC RENews. Although all GREC courses cover the license laws, they are all different in the material presented, so that the licensees can attend any and all of them and obtain credit upon successful completion.

Quick Question: Do I have to identify myself as an agent to sell or
rent my own property?
Yes. In advertisements, if the property is not listed with a real estate firm; and in sales contracts or leases, regardless of whether you listed the property with a real estate firm. In advertisements, you must use the legend "(seller, buyer, landlord, tenant, etc.) holds a real estate license." or use the legend "Georgia Real Estate License # (insert your six digit number)." See License Law 43-40-25 (a )( 9) and Rules 520-1-.09 (8) & 520-1-.11. (Remember signs are advertising.)

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

Focus on Terminology: "Formal Complaint"
For some individuals, to complain seems to be human nature, but for an individual to write a formal complaint, it requires a more serious commitment by the one complaining. In order for the Commission to act on a complaint, it must be a formal complaint in writing submitted on a form titled, "Request for Investigation Form." The form can be downloaded from the Commission web site by licensees as well as consumers. Once the form is submitted, the Commission is required to begin the investigation process.
The Commission can only investigate issues related to the License Law, Rules and Regulations. For example, the Commission cannot settle such issues as disputes regarding earnest money, repairs to property, or payments of fees to licensees.
Depending on the case load, an investigator will be assigned to the case within a few weeks. Since records are required to be maintained for 3 years, generally investigations do not go back further than 3 years.
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