June 2010 Volume 6 Issue 6 
 
GREC RENews MMoonntthllyyNNeewwslseltetetrteorf 
of thethGe eGoerogrgiaiaRReeaal EstEastetatCeoCmommmisisssioion 
 
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 
 
Broker's Box: Practice in Action 
Send in your comments to the GREC RENews Editor 
What do you think are the most difficult aspects of managing licensees? Send us your list of the 2 most difficult issues of broker management. We'll compile a list and give you the results and provide a link to GREC resources that could help you in your brokerage management. 
Click Here to Send Your Comments 
Page1 
 
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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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