Real Estate Notes: Georgia Exam Prep: State Laws and Rules
This flashcard set outlines key legal and educational requirements for real estate professionals in Georgia. It covers broker qualifications, licensee responsibilities, disciplinary actions, advertising rules, protected classes, and recordkeeping. It's a valuable resource for those studying for the Georgia real estate license exam or needing a refresher on state laws and regulations.
How old must a broker be in Georgia?
At least 21
Key Terms
How old must a broker be in Georgia?
At least 21
Who or which entity has the authority to bring injunctive action against a real estate licensee on the behalf of the commission?
The Georgia attorney general
What legal agreement is required when a licensee guarantees the sale of a property?
A purchase agreement written at the same time as the listing agreement
Which of the following is a requirement to obtain a Georgia broker’s license?
An applicant for a broker’s license will need to complete an additional 60 hours of broker-specific coursework, plus 15 quarter hours or nine semes...
What must Georgia’s governor do in order to remove a commission member from GREC?
Give notice and a hearing opportunity to the member.
Susan is a real estate salesperson in Americus. How does Georgia license law define her status?
One who holds a salesperson’s license
Related Flashcard Decks
Study Tips
- Press F to enter focus mode for distraction-free studying
- Review cards regularly to improve retention
- Try to recall the answer before flipping the card
- Share this deck with friends to study together
| Term | Definition |
|---|---|
How old must a broker be in Georgia? | At least 21 |
Who or which entity has the authority to bring injunctive action against a real estate licensee on the behalf of the commission? | The Georgia attorney general |
What legal agreement is required when a licensee guarantees the sale of a property? | A purchase agreement written at the same time as the listing agreement |
Which of the following is a requirement to obtain a Georgia broker’s license? | An applicant for a broker’s license will need to complete an additional 60 hours of broker-specific coursework, plus 15 quarter hours or nine semester hours of college coursework eligible for a major in real estate, and pass an exam prior to obtaining a broker’s license. |
What must Georgia’s governor do in order to remove a commission member from GREC? | Give notice and a hearing opportunity to the member. |
Susan is a real estate salesperson in Americus. How does Georgia license law define her status? | One who holds a salesperson’s license |
How many hours of post-licensing education and continuing education (nine hour credit of post-licensing deducted) must a licensee complete after license issuance, and before the four-year license renewal in Georgia? | Licensees must complete 25 hours of post-licensing education within their first year, and an additional 36 hours prior to their four-year license renewal. Nine of the 25 hour post-licensing hours count towards the 36 hours of continuing education. 25 + 36 - 9 =52. |
If you’re a licensee who’s been brought up for a disciplinary hearing, what is the lesser penalty? | Citation |
it addresses price fixing and other deceptive practices that restrict free trade competition. | The Georgia Uniform Deceptive Trade Practices Act (UDTPA) |
what are the 7 protected classes? | race, color, religion, sex, disability, familial status, and national origin |
Jaqueline is the qualifying broker for a bustling firm in Avondale Estates, and she has many salespeople to oversee. The firm’s licensees’ advertisements must be done under her name as it appears on her license. What else is required? | Her supervision and approval |
The Real Estate Education, Research, and Recovery Fund should maintain a balance of at least what amount? | $1 million |
For how long does broker need to keep records? | 3 years |
What is contractual interference? | when a licensee actively attempts to encourage another licensee’s client to break that agreement to sign a new one |
Brokers who perform community association management services and are responsible for more than _________ must obtain a fidelity bond or fidelity insurance from a company that’s authorized to write such policies in Georgia. | $60,000 |
Which of these statements is NOT true regarding a licensee who wants to transfer to another broker? | Both the original broker and the new broker may charge the licensee a $50 fee to cover administrative costs of the transfer. |
Who, or which entity, appoints the members of the Georgia Real Estate Commission? | The Georgia governor |
GREC won’t investigate a complaint unless the incident prompting the complaint occurred within the past ______. | Three years |
When the Georgia attorney general’s office finds that the investigation’s evidence has legal grounds, the office will either propose a consent settlement for the commission to review and approve or ______. | File a notice of hearing with the Office of State Administrative Hearings |
Robert, the qualifying broker of a firm, was convicted of fraud and embezzlement. What will happen to the brokerage as a result? | The commission will revoke the brokerage firm’s broker’s license. |
The court will order GREC to make a payment out of the Real Estate Education, Research, and Recovery Fund when applicable. What’s the maximum dollar amount one claim can be, including all fees and claimants attached to the transaction? | $25,000 |
In general, exceptions to real estate license law ______. | Only apply under very specific circumstances |
Athens licensee Lucius is representing both the seller and the buyer in the same transaction, with both clients’ consent. That makes him a dual agent, which Georgia license law defines as ______. | One licensee representing both the buyer and the seller in a single transaction |
What may happen to Georgia licensees who haven’t paid back disbursements made on their behalf from the real estate education, research, and recovery fund? | Their license will be suspended until they pay back disbursements and interest |
GREC may | grant, sanction, suspend, revoke, or deny individual or firm licenses. |
If a licensee wanted to plan ahead and divide the required continuing education hours over the period that a license is valid, how many hours of continuing education would the licensee have to complete each year? | A licensee wanting to plan ahead could complete nine hours of CE per year in order to complete the 36-hour requirement for a four-year renewal cycle. Three hours of CE must include the mandated Georgia law course. |
How long does it take to renew your license? | 4 years |
Explain reinstating your license by years | 2 years or less: pay fees and show CE education |
based on criminal records, what will denied for a real estate sales license. |
|
Multi-family homes with an elevator and at least four units that were constructed and ready for move-in after ___ must be fully accessible to persons with disabilities. | March 13, 1991 |
In 1973, Georgia’s Real Estate Education, Research, and Recovery Fund was established for the purpose of | compensating consumers who prevail in a complaint against a licensee but aren’t able to recover damages from the licensee. |
The deadline for filing claims against the fund is | two years after the cause of action. |
Payments may not exceed _----- per licensee. (Georgia’s Real Estate Education, Research, and Recovery Fund) | $75,000 |
GREC doesn’t consider disputes regarding | earnest money, property repairs, commissions, or fees. These are contract law concerns. |
Eli, an unlicensed resident of South Carolina, may obtain a real estate license in Georgia under the same qualifications and requirements as a(n) . | Unlicensed Georgia resident |
New construction multifamily dwellings in Georgia must provide basic accessibility to people with disabilities. This applies to which of the following? | If the building has no elevator and four units and was ready for occupancy after March 13, 1991, disability requirements apply to ground floor units. |
GREC members serve five-year terms. If a member ends her term early, what will happen? | The governor will appoint another member to fill the vacancy. |
When advertising is placed on a property using the Internet and the information has changed, the ad must be updated or removed within how many days of being placed? | 30 days |
Which Georgia agency houses the Fair Housing Division? | Georgia Commission on Equal Opportunity |
A consumer filed a complaint against Vivian for providing professional real estate services without a license. What initial action will GREC likely take against her? | Issue a cease and desist order. |
Alpharetta licensee Angie is designing her personal website. Where should she include required information? | On every page |
Broker engagement agreements must include all parties’ signatures. Anyone who signs the agreement must receive a photocopy. What else is required? | A definitive end to the brokerage engagement agreement |
Aside from your name, what else must be included on every page of your website, according to GREC’s rules? | License status and license number |
The Georgia attorney general serves as the legal counsel for all state agencies. Which entity does the attorney general represent in real estate license law matters? | GREC |
GREC will investigate a complaint if that complaint occurred within how many years? | Three years |
How many members of the six-member Georgia Real Estate Commission are licensed real estate brokers? | Five |