"Explore the intricacies of real estate brokerage in Georgia with our comprehensive Q&A package. From licensing requirements and agency relationships to contracts, ethics, and market insights, this package covers everything you need to know to succeed as a broker in the Peach State. Gain valuable k...
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Is failure to put a street address in a legal description a violation of the Georgia license law? no A broker was found guilty of commingling. The real estate Commission shall have the power to do what> impose a fine not to exceed $1000 In Georgia can a broker deposti earnest money in a sep...
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Add to cartIs failure to put a street address in a legal description a violation of the Georgia license law? no A broker was found guilty of commingling. The real estate Commission shall have the power to do what> impose a fine not to exceed $1000 In Georgia can a broker deposti earnest money in a sep...
If the real estate commission discovers that a person obtained a license by false or fraudulent representation, the commission can take each of the following actions EXCEPT revoke a broker's license and simultaneously issue a sales associate's license to the person (includes cheating and unfairly ...
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Add to cartIf the real estate commission discovers that a person obtained a license by false or fraudulent representation, the commission can take each of the following actions EXCEPT revoke a broker's license and simultaneously issue a sales associate's license to the person (includes cheating and unfairly ...
A real estate licensee who is representing a tenant in a commercial rental wants to share part of her commission with the tenant. Can she do this legally? Real estate licensees may share their commission with a party to a lease agreement, provided it is disclosed to all interested parties In the ...
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Add to cartA real estate licensee who is representing a tenant in a commercial rental wants to share part of her commission with the tenant. Can she do this legally? Real estate licensees may share their commission with a party to a lease agreement, provided it is disclosed to all interested parties In the ...
Fidelity Insurance Under Georgia license law, fidelity insurance is required of any Georgia licensee if managing community associations and if at any time handling more than $60,000. A broker managing community associations who at any time handles more than $60,000 must have a separate fidelity bond...
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Add to cartFidelity Insurance Under Georgia license law, fidelity insurance is required of any Georgia licensee if managing community associations and if at any time handling more than $60,000. A broker managing community associations who at any time handles more than $60,000 must have a separate fidelity bond...
In its capacity to administer the License Law as created by Georgia statute, the Real Estate Commission may A) only pass rules and regulations based on License Law. With regard to the organization and operation of the Georgia Real Estate Commission, which of the following is TRUE? A) Five of th...
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Add to cartIn its capacity to administer the License Law as created by Georgia statute, the Real Estate Commission may A) only pass rules and regulations based on License Law. With regard to the organization and operation of the Georgia Real Estate Commission, which of the following is TRUE? A) Five of th...
Which of these is NOT one of GREC's powers? Sentence licensees to jail time (GREC doesn't have the legal authority to sentence licensees to jail.) Maury was brought up on a disciplinary action for a trust fund violation. GREC fined him and required him to take a course in trust fund accounti...
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Add to cartWhich of these is NOT one of GREC's powers? Sentence licensees to jail time (GREC doesn't have the legal authority to sentence licensees to jail.) Maury was brought up on a disciplinary action for a trust fund violation. GREC fined him and required him to take a course in trust fund accounti...
Actual Notice Knowledge recieved or imparted theough direct experience constructive notice Knowledge that one could have or should have obtained Quiet Title A court action brought to establish title; to remove a cloud on the title; to remove encumbrance licensee an individual who has comple...
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Add to cartActual Notice Knowledge recieved or imparted theough direct experience constructive notice Knowledge that one could have or should have obtained Quiet Title A court action brought to establish title; to remove a cloud on the title; to remove encumbrance licensee an individual who has comple...
increasing the profits of brokerages Which one of these is NOT a responsibility of GREC? increasing the profits of brokerages administering real estate licenses overseeing the license renewal process enforcing the license law protect the public interest The Georgia Real Estate Commission's...
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Add to cartincreasing the profits of brokerages Which one of these is NOT a responsibility of GREC? increasing the profits of brokerages administering real estate licenses overseeing the license renewal process enforcing the license law protect the public interest The Georgia Real Estate Commission's...
Agency every relationship in which a real estate broker acts for or represents another as a client by the latter's written authority in a real property transaction associate broker a person who acts on behalf of a real estate broker in performing any act authorized to be performed by a broker ...
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Add to cartAgency every relationship in which a real estate broker acts for or represents another as a client by the latter's written authority in a real property transaction associate broker a person who acts on behalf of a real estate broker in performing any act authorized to be performed by a broker ...
Loyalty Obedience Written offers must be submitted Personally act for the principal Account for monies Inform the principal an Not to be negligent The acronym used to remember the responsibilities that a real estate broker has to the principal Full disclosure and honesty, fairness and int...
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Add to cartLoyalty Obedience Written offers must be submitted Personally act for the principal Account for monies Inform the principal an Not to be negligent The acronym used to remember the responsibilities that a real estate broker has to the principal Full disclosure and honesty, fairness and int...
1. which of the following ways of specialization is common in the real estate brokerage business A) by background of client B) by type of property C) by years of experience in the business D) by type of mortgage financing requiredb 2. which of the following is included in the legal concept of...
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Add to cart1. which of the following ways of specialization is common in the real estate brokerage business A) by background of client B) by type of property C) by years of experience in the business D) by type of mortgage financing requiredb 2. which of the following is included in the legal concept of...
The Georgia Real Estate Commission will discipline a licensee for which of the following actions? A. II and IV only II. Guaranteeing future profits from the sale of a property. IV. Persuading a party to an existing listing contract to break that contract and list with the licensee. Which license...
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Add to cartThe Georgia Real Estate Commission will discipline a licensee for which of the following actions? A. II and IV only II. Guaranteeing future profits from the sale of a property. IV. Persuading a party to an existing listing contract to break that contract and list with the licensee. Which license...
Under the _______ of recording, title passes when the conveyance is registered on the title certificate. Torrens System Non-judicial foreclosure is required to foreclose on a Deed of Trust A broker induces an owner to sell by telling him that Muslims are moving into the neighborhood. This brok...
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Add to cartUnder the _______ of recording, title passes when the conveyance is registered on the title certificate. Torrens System Non-judicial foreclosure is required to foreclose on a Deed of Trust A broker induces an owner to sell by telling him that Muslims are moving into the neighborhood. This brok...
Angie owns a four-plex. She lives in one unit and rents out the others Which of the following may represent an exemption from Georgia fair housing laws Kiting Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing financing for diverse...
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Add to cartAngie owns a four-plex. She lives in one unit and rents out the others Which of the following may represent an exemption from Georgia fair housing laws Kiting Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing financing for diverse...
Which of the following are appointed by the governor? A. Members of the Georgia Real Estate Commission. B. The Real Estate Commissioner. C. Real estate instructors. D. Georgia Real Estate Commission employees.>> CORRECT ANSWER IS: A >> YOUR ANSWER IS: A Members of the Georgia Real ...
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Add to cartWhich of the following are appointed by the governor? A. Members of the Georgia Real Estate Commission. B. The Real Estate Commissioner. C. Real estate instructors. D. Georgia Real Estate Commission employees.>> CORRECT ANSWER IS: A >> YOUR ANSWER IS: A Members of the Georgia Real ...
The Commission's authority is based upon: Statutory law Agency can best be described as: A written representation agreement between Broker and client. Charging advance brokerage fees is: A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? They ...
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Add to cartThe Commission's authority is based upon: Statutory law Agency can best be described as: A written representation agreement between Broker and client. Charging advance brokerage fees is: A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? They ...
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How does a broker prove they are not culpable if an agent makes a mistake? 1. Reasonable supervision was available to agent 2. Broker had nothing to do with the infraction 3. The broker did not ratify the infraction (Did not see it happen without telling them to stop) What are Trade fixtures an...
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Add to cartHow does a broker prove they are not culpable if an agent makes a mistake? 1. Reasonable supervision was available to agent 2. Broker had nothing to do with the infraction 3. The broker did not ratify the infraction (Did not see it happen without telling them to stop) What are Trade fixtures an...
Real Estate Professionals perform the following property-related functions: 1. Creation and Improvement 2. Management and Maintenance 3. Demolition 4. Investment Ownership 5. Regulation 6. Transfer What are the classifications of real estate by use? Residential Residential Income Office Ret...
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Add to cartReal Estate Professionals perform the following property-related functions: 1. Creation and Improvement 2. Management and Maintenance 3. Demolition 4. Investment Ownership 5. Regulation 6. Transfer What are the classifications of real estate by use? Residential Residential Income Office Ret...
Appurtenant EasementThe permanent right to use another's land. Easements for adjacent properties or neighbors, which run with the land. Most protection. Abstract of TitleA history of All recorded instruments Affecting the title to a piece of land. Statute of FraudsA state statute under which ...
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Add to cartAppurtenant EasementThe permanent right to use another's land. Easements for adjacent properties or neighbors, which run with the land. Most protection. Abstract of TitleA history of All recorded instruments Affecting the title to a piece of land. Statute of FraudsA state statute under which ...
Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estat...
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Add to cartLegal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estat...
What type of measurement is used to describe the size of a two-dimensional shape? Area refers to the size of a two-dimensional shape. Georgia real estate licensees must follow all real estate license laws, and they are affected by several substantive regulations covered in Georgia's R&Rs, chapte...
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Add to cartWhat type of measurement is used to describe the size of a two-dimensional shape? Area refers to the size of a two-dimensional shape. Georgia real estate licensees must follow all real estate license laws, and they are affected by several substantive regulations covered in Georgia's R&Rs, chapte...
Deed Document used to transfer title. Title Land+ deed, (who are the owners and what are their rights?) Real Estate Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: Physical & economic What are the physical characteristics of land? Immo...
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Add to cartDeed Document used to transfer title. Title Land+ deed, (who are the owners and what are their rights?) Real Estate Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: Physical & economic What are the physical characteristics of land? Immo...
Anti-Trust An area of law concerned with maintaining competition in private markets by prohibiting any restraint on trade. Georgia Real Estate Commission Pass rules and regulations that govern real estate licensees Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) ...
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Add to cartAnti-Trust An area of law concerned with maintaining competition in private markets by prohibiting any restraint on trade. Georgia Real Estate Commission Pass rules and regulations that govern real estate licensees Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) ...
Georgia Real Estate Commission size 6 members Georgia Real Estate Commission appointed by Governor of Georgia Georgia Real Estate Commission confirmed by Georgia state senate How long are each of the Georgia Real Estate Commission members' terms? 5 years How many members of the 6-member...
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Add to cartGeorgia Real Estate Commission size 6 members Georgia Real Estate Commission appointed by Governor of Georgia Georgia Real Estate Commission confirmed by Georgia state senate How long are each of the Georgia Real Estate Commission members' terms? 5 years How many members of the 6-member...
Accrued interest on loan assumed. Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is prepaid in advance negotiable between the buyer and seller The payment of the intangibles taxes are: If neither Baird or Carr are licensed as ...
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Add to cartAccrued interest on loan assumed. Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is prepaid in advance negotiable between the buyer and seller The payment of the intangibles taxes are: If neither Baird or Carr are licensed as ...
What fines may be imposed by the Commission for rules violations? A maximum of $1,000 for a single offence or $5,000 for multiple violations Charging advance brokerage fees is a duty of a broker. Agency can best be described as a written representation agreement between broker and client. W...
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Add to cartWhat fines may be imposed by the Commission for rules violations? A maximum of $1,000 for a single offence or $5,000 for multiple violations Charging advance brokerage fees is a duty of a broker. Agency can best be described as a written representation agreement between broker and client. W...
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