This course also covers the requirements for obtaining and renewing a real estate license. The responsibilities of brokers, the handling of trust accounts, advertising requirements, and agency relationships are discussed. Students will learn about mortgage fraud, Georgia's Fair Housing Law, and the Brokerage Relationship in Real Estate Transaction (BRRETA).
This course satisfies the mandatory three hours requirement in license law as part of Georgia's 36 hours of continuing education required for license renewal every four years.
Upon completion of this course, the student will be able to:
- Define terms common to the real estate industry; Describe the organization and structure of the Georgia Real Estate Commission; List requirements for licensure for both salesperson and broker
- List the requirements for nonresident licensure in Georgia; Recall the steps necessary to be granted a license; Recite the procedure for reactivating a license
- Describe the powers and duties of the Georgia Real Estate Commission; List reasons a license can be granted or denied; Identify actions that are not in compliance with Georgia real estate license law; Recognize the steps required for setting up and maintaining escrow/trust accounts
- Describe the Real Estate Education, Research and Recovery Fund; Relate the steps you need to take to apply for compensatory damages from the fund
- List the unfair trade practices that licensees are prohibited from engaging in; Relate the process the Commission uses to investigate complaints; Recall the steps for a complaint to be heard before the Commission
- List the requirements for licensure; Recall the 'points' that will be awarded to veterans when taking their examinations for their duty in the armed forces; Identify information that is necessary to supply with the application for licensure; Explain the license renewal process
- Identify the various situations that comprise brokerage relationships; List management's responsibilities to real estate firms and licensees; State the broker's responsibilities when a licensee leaves a real estate firm; Recall guidelines for utilizing unlicensed personnel
- Describe the steps to safeguard trust monies; Identify the items to be included on a monthly reconciliation statement; Name the different forms of media advertising; Recognize the requirements for licensee advertising
- Recite the responsibilities of licensees when handling transactions; Describe Georgia's Fair Housing Law; Identify mortgage fraud and list the penalties for committing this fraud
- Identify terms common to agency relationships; Relate the purpose of Brokerage Relationship in Real Estate Transaction (BRRETA); State the forms of brokerage services for a client or customer
Georgia License Law - Georgia Real Estate Commission and Appraisers Board
End of Course Instructions
These credits count toward your Georgia Real Estate Continuing Education requirement, and your school of record will submit your credits to the commission upon receipt of the Course Evaluation Form.
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