GREC REnews, Vol. 7, Issue 11 (Nov. 2011)

November 2011 Volume 7 Issue 11

GREC RENews MMoonntthllyyNNeewwslseltetetrteorf
of thethGe eGoerogrgiaiaRReeaal EstEastetatCeoCmommmisisssioion

Calendar
GREC Brokerage Course &
HU
Trust Accounts Class Dates:
UH
December 14 & 15, 2011 GIRE http://www.learningreales tate.com
Common Violations Class
HU
Dates: U
December 8, 2011 GAMLS Training Institute 770-493-9000
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

This Issue:

Illegal Immigration Reform &

Enforcement Act

P.1 -2

Virtual Phone Systems

P.2

Georgia's "Illegal Immigration Reform and Enforcement Act of
2011" Impacts Licenses

Following the 2011 legislative session of the Georgia General Assembly, the Georgia "Illegal Immigration Reform and Enforcement Act of 2011" was signed into law. This legislation impacts both real estate licenses and appraiser classifications.

U.S. mail, or by visiting our office. The staff will be diligently notating your license record so that you can renew online.
A list of the approved "secured and verifiable" identification

documents and the

For license

You must submit the

notarized affidavit can be

renewals

after necessary documents

found

on

the

12/31/2011,

all BEFORE you can renew Commission's website at

individuals

are your license Online. In

www.grec.state.ga.us.

required to provide the Commission with a secure and verifiable form of identification and a notarized copy of an

order to allow time for processing, it is
recommended you submit the documents well in
advance of your renewal

If you do not provide these items to the Commission, you will be unable to renew the license, the license will lapse, and you will not be

affidavit. Brokers and

date.

able to practice real

Qualifying Brokers renewing firm licenses will be required to submit this information before the firm can be renewed. We must receive both of these items prior to your online renewal or attached to your paper application.
Please send these items to the Commission as soon as possible if your renewal is in the next few months! You can send them via fax at (404) 6566650, e-mail verify@grec.state.ga.us,

estate until your provide the items and reinstate the license. A license lapse will also increase the fee paid to the Commission by a minimum of $100.00.
Any license renewed prior to 12/31/2011 will not have to meet the new requirements at this time. Since licenses can be renewed up to 4 months in advance, consider renewing early.
continued on page 2.....

Page 1

H
Enroll Now
Free GREC CE
Courses Online
1. "Avoiding Trust Account Trouble"
2. "Being a Broker & Staying Out of
Trouble"
3. "Practicing Real Estate & Staying Out of Trouble"
Click Here
To sign up to
HU
receive the GREC RENewsletter Click Here
U
Comments or
HU
Suggestions Click Here
U
Georgia Real Estate Commission Suite 1000 International Tower 229 Peachtree Street NE Atlanta, GA 30303-1605 Phone 404-656-3916

GREC RENews November 2011, Volume 7 Issue 11

"Illegal Immigration Reform and Enforcement Act of 2011"...

...continued from page 1
Original license applications will also require this information to be submitted with the application. For example, a Broker applying to open a

new firm or a salesperson applying for a Broker license would be required to submit these items before obtaining the new license.

Virtual Offices and Phone Numbers
Virtual phone systems provide advanced features to improve communicaton between the Broker and his/her licensees and between the client and customers and the licensee. However, the efficiency of these systems needs to be implemented with the License Laws, Rules and Regulations in mind. For instance, some systems allow an assigned direct-dial extension, or allow the listing agent to have calls forwarded to a number of their choice, such as a cell phone.
However, any advertisement must have the main phone number of the brokerage firm stated on the advertisement; this includes internet postings. Anyone calling the number should be able to identify the firm he/she is calling and be able to contact the Broker from that main number. This is the same rule that applies to signs installed on properties listed for sale or lease.
Advanced phone systems can also be a useful tool for the Broker in managing licensees. For example, the ability of the Broker/Manager to access voice mails of staff or utilize caller ID tracking enables the Broker to follow up on transactions when a licensee is on vacation or otherwise. Various reports can be provided that detail activities of licensees and can serve to improve the efficiency of the office leading to more closed transactions.
As technology continues to evolve, the Broker needs to review and revise the management policies and procedures of the firm so that they comply with the License Laws, Rules and Regulations.
Focus on Terminology: "Virtual Office"
The term "Virtual Office" was developed through the use of technology to conduct business from virtually anywhere. In fact, a virtual office could have all the features of a permanent office, but does not have a specific location.
While technology allows real estate licensees to work independently, the License Laws, Rules and Regulations require that a licensee be supervised by the Broker holding his/her license. A virtual office allows flexibility and a Broker may encourage such a business model. However, that Broker must work diligently to maintain the level of communication needed to properly manage the licensees affiliated with his/her firm. For example, management responsibilities such as reviewing contracts can easily be done electronically. In fact, it assists the Broker in maintaining electronic records of documentation as well as an "electronic-paper" trail of the transaction.
Other issues such as the handling of trust funds must usually be done in person, and the Broker must make the necessary arrangements. The firm policies and procedures must be specifically designed to meet the virtual office model.
Page 2