- Collection:
- Georgia Government Publications
- Serial:
- GREC RENews.
- Title:
- GREC REnews, Vol. 7, Issue 10 (Oct. 2011)
- Creator:
- Georgia. Real Estate Commission
- Contributor to Resource:
- Georgia. Real Estate Commission, issuing body.
- Publisher:
- Atlanta, Ga. : Georgia Real Estate Commission, 2011-10
- Date of Original:
- 2011-10
- Subject:
- Real property--Georgia
Real estate boards--Georgia - Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- state government records
- Type:
- Text
- Format:
- application/pdf
- Description:
- Began with: Volume 1, issue 1 (January 2005).
Some issues combined.
Some numbering irregularities in 2016. Volume 12, issue 8 (August 2016) called issue 9 in error; correct numbering issue resumed with volume 12, issue 10 (October 2016).
Description based on: Volume 1, issue 1 (January 2005); title from PDF caption (GALILEO, viewed August 10, 2010).
Latest issue consulted: Volume 16, issue 6 (June 2020) (publisher's Web site, viewed July 15, 2020). - External Identifiers:
- Call Number GA S720.R4 P1 R4 7/10
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-bs720-pr4-bp1-br4-b7-s10-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-bs720-pr4-bp1-br4-b7-s10-belec-p-btext
- Language:
- eng
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
October 2011 Volume 7 Issue 10
GREC RENews MMoonntthllyyNNeewwslseltetetrteorf
of thethGe eGoerogrgiaiaRReeaal EstEastetatCeoCmommmisisssiioon
Calendar
GREC Brokerage Course &
HU
Trust Accounts Class Dates:
UH
October 26 &27, 2011 Atlanta Board http://www.abr.org
November 16 & 17, 2011 West GA Board www.westgaboard.org
November 29 & 30, 2011 Southwest GA Board (229)377-8986
December 14 & 15, 2011 GIRE http://www.learning realestate.com
Common Violations Class
HU
Dates: U
October 19, 2011 400 North Board Dawsonville, GA (706) 216-5229
October 26, 2011 Paulding Board (678) 663-6387
November 2, 2011 East Metro Board 770-787-3763
GREC Annual Schools Meeting December 1 & 2, 2011
Athens, GA
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
Clipart from MicrosoftTM Office
You must have a an active
real estate license to perform Property Management
services.
This Issue: Facts on Property Management P.1 Trends in Licenses & Violations P.1
Checking Your Education P.2 Focus on Terminology P.2
Cold, Hard, Facts Every Licensee Should Know About Property Management
Managing property in Georgia is a real An individual licensee cannot rent
estate brokerage activity that requires
out personal property without the
a real estate license, whether done by
knowledge and supervison of
a company or an individual.
his/her Broker.
Property Management includes the A principal/owner (individual or
leasing of homes for rent. A
company) may manage his/her own
salesperson who wants to lease a
properties without a license but not
house for a client must conduct this
anyone else's property.
activity through the brokerage firm Anyone can file a formal complaint
that holds his or her license.
against an unlicensed person or
An individual licensee managing
entity
performing
property
properties for others must give
management without a license
security deposits and rental payments The Commission issues a Cease
to his/her broker for deposit.
and Desist order to unlicensed
Security deposits and rental payments
individuals or companies providing
must be deposited in a firms' Trust
Property Management services
Account registered with the
without a license. Fines can be
Commission
levied for violating the order.
Trends in Licenses and Violations
At a recent meeting of the Education Advisory Committee of the There are 90,115 real estate licensees
Georgia Real Estate Commission, Real Estate Commissioner William
in Georgia. (Three years ago, in 2008, there were 105,000 licensees, which is
Rogers, Jr. presented information
a decrease of 14,885 licensees.)
regarding the decline in the number of About 76% of licensees are currently
licensees renewing their licenses and
on Active status
the most common violations. The 23% of licenses are on Inactive status
following statistics are as of Over the past 18 months, 7,910
September 1, 2011.
licensees have chosen not to renew
... continued on page
Page 1
H
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Free GREC CE
Courses Online
1. "Avoiding Trust Account Trouble"
2. "Being a Broker & Staying Out of
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3. "Practicing Real Estate & Staying Out of Trouble"
Click Here
GREC RENews October 2011, Volume 7 Issue 10
TTrreennddss iinn LLiicceennsseess aanndd VViioollaattiioonnss......
...continued from page 1
their licenses. (This is an average of 439 per month.) There are about 5,000 licensed Appraisers in Georgia, and the number is decreasing at about 30 per month. Those applicants seeking to obtain a real estate license have also declined, averaging about 300 per month. In consideration of market conditions, a decrease in these numbers is not
surprising. However, because of the decline in numbers and related fees to be received by the Commission, the Georgia Real Estate Commission is strongly focused on efficiency in operations.
Over the last year, Commissioner Rogers has implemented procedures to speed up case investigations and the disciplinary process. As of October 3 2011, over 900 cases have been processed this year. Many recent violations concern Property Management.
Property Management Violations:
The many recent violations concerning Property Management fall into two categories:
1. Licensees conducting Property Management activities without following the License Laws, Rules, and Regulations.
2. Non-licensed individuals performing Property Mangement activities for another party.
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receive the GREC RENewsletter Click Here
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Suggestions Click Here
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GREC FAQ:
www.grec.state.ga.us
How can I find out what courses and education hours are posted to my license?
From the GREC web site at www.grec.state.ga.us, start by selecting the Agents/Firms drop down tab on the left of the screen. Select Online Services System Proceed to Online Services System Enter your License number and password. (Folow the instructions to create a password if you have not done so already.) Individual course names, completion dates, number of credit hours, and the School name are listed in reverse chronological order. If you completed a specific course that is not listed, you should contact the school where you took the course to have the school post the course to your record.
(You can also update your email address or change your mailing address through the Online Services System.)
Georgia Real Estate Commission
Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916
Focus on Terminology: "Property Management"
43-40-1. Definitions GA Code 43-40-1 Definitions (7) "Property management services" means the provision, for a valuable
consideration, to another of marketing, including referring prospective tenants; leasing; physical, administrative, or financial maintenance; and overall management of real property; or supervision of the foregoing activities for another pursuant to a property management agreement."
You must have an active real estate license to perform Property Management services and receive a fee.
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