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Georgia Real Estate

Georgia Real Estate Chapter 23

TermDefinition
was created to protect the public against the illegal practices of brokers. The fund is maintained by a $20 fee all new licensees pay into the fund at the time of initial application for a license. real estate education, research, and recovery fund
a person who, for compensation, does an act of real estate for another. This could be negotiating contracts or procuring prospects for real estate transactions. Broker
a person, other than a salesperson, who acts on behalf of a real estate broker in performing acts of real estate. An associate broker has a broker's license but chooses to work for another broker. Associate Broker
licensed to perform acts of real estate on behalf of a broker. Salesperson
a written contract between a broker and client where the broker is hired to represent the interests of the client in the transaction and be compensated for doing so. Brokerage Agreement
any person with a real estate license, active or in active; a person could be an individual or firm, and a firm is any business entity such as a corporation, partnership, or limited liability company. licensee
defined as any interest in real property, whether that interest be tangible or intangible, freehold or non-freehold, and would also include a mobile home if it is permanently attached Real Estate
The commission is composed of six members who are appointed by the governor for a five-year term, and approved by the Senate. Five of the six members must be licensed in real estate for five years and residents of Georgia for five years. The Commission
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