GREC REnews, Vol. 6, Issue 6 (June 2010)

June 2010 Volume 6 Issue 6

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Calendar
GREC Brokerage Course & Trust Accounts Class Dates:
July 14 &15, 2010 Tift Area Board (229) 388-1111
August 25 & 26, 2010 Gordon Association (404) 845-4082
Common Violations Class Dates:
June 15, 2010 @ Rabun County Board
June 16, 2010 @ 400 North Board
June 17, 2010 @ Greater Rome Board
June, 25, 2010 @ NE Georgia Board
Georgia Instructor Training Workshop Dates: July 22-23, 2010
GIT Macon http://www.grec-git.com/
Click here to see GREC Disciplinary Sanctions
Georgia Real Estate Commission
Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916

This Issue: Scholarship Money P.1-2 Focus on Terminology P. 2

Scholarship Money for Real Estate Education

For several years, the Georgia Real Estate Commission has contracted with the Georgia Association of REALTORS to provide funds for a scholarship program for active licensees in Georgia. There is no membership, experience or specific course or school requirements. Sound too good to be true? The only bad part is that very few real estate licensees know about this program. Here are the basics: The Applicant must hold an active
real estate license. There is no requirement to be a member of any organization. The scholarship provides for partial

reimbursement of fees paid for

real estate related courses taken

towards

a

professional

designation.



The specific designations

allowed must be real estate

related. You can contact

the Georgia Association of

Realtors before you sign up for

a course to determine if the

designation course would qualify.

Their phone number is 678-597-

4121.

The designation does not have to

be affiliated with any specific

organization or association.

...continued on page 2

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Scholarship Money...

... continued from page 1

Georgia licensees are allowed

to select the subject of the

courses they take for required

education provided the course

and school are authorized by

GREC. This scholarship

program

provides

an

opportunity for the licensee to

advance his/her career by

taking designation courses in

their chosen field of expertise.

After enrollment, payment of

fees, and completion of the

course, the licensee must

submit an application showing

proof of completion, etc.

The amount of money awarded

depends upon the availability of

funds, the number of

applications submitted, and the

amount of money allotted for

each year.

Money is awarded without

knowing the identity of the

specific applicant

Funds are distributed quarterly

on a regional basis throughout

the State.

An applicant can submit a

request only one time per

calendar year.

The funds for the program are

provided from the following

sources:

GREC RENews June, Volume 6 Issue 6

1. Interest earned on funds

invested. The amount of funds

available varies by earnings on

the investments. The principle

balance was originally provided

by the Georgia Real Estate

Commission, Real Estate

Education Research and

Recovery Fund.

2. Additional funding from the

Georgia

Real

Estate

Commission Real Estate

Education Research and

Recovery Fund.

3. Donations from Members of the

Georgia Association of

REALTORS (GAR) and Local

Boards and Associations.

The scholarship program is

administered and managed by the

Georgia Association of Realtors.

Click here for more details and the online

aplication for scholarship money.

This money is set aside and there for the asking. Now is a great time to take advantage of this opportunity to
earn a real estate designation of your choice and meet continuing education requirements at the same time.

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

Focus on Terminology: "Build-to-Suit"
In a market where traditional financing is scarce, the owner could still be a good source. The owner may be willing to build out a development to the specifications of a buyer or tenant in return for a lease where the amortized portion of the build out is factored into the lease payments. This build-to-suit arrangement is common for building out space for a tenant in a building, but also works well to develop land to the tenant's requirements in return for a ground lease.
A build-to-suit is really another form of seller financing and is a useful strategy in a market where money is tight and the owner of the property wants a better return on his/her money than he/she can find elsewhere.
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