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Georgia Real Estate
Chapter 24
| Term | Definition |
|---|---|
| Hearing | the formal process that must be offered to a person prior to imposing a sanction |
| Agency | a relationship created by express contract where a broker represents another in a real property transaction |
| Citation | issued by the commission as penalty instead of imposing a sanction |
| Client | a person who has entered into a brokerage engagement with a broker |
| Dual Agent | a broker who has a brokerage engagement with both parties in the same transaction. |
| Customer | a person who has not entered into a brokerage engagement with a broker. The broker is limited to performing only ministerial acts. The only way to become a client is by entering into a written brokerage engagement agreement. |
| Firm | Any person licensed as a broker |
| Designated Agent | a broker who has an agent with a brokerage engagement the seller, as well as another agent who has a brokerage engagement with the buyer in the same transaction. |
| Ministrial Acts | acts that do not require confidentiality or the exercise of judgement or the providing of advice |
| Timely | a reasonable time under the circumstances |
| Brokerage Engagement | a written contract between a person and a broker where the person becomes a client of the broker. In Georgia, brokerage engagements must be in writing to be enforceable. |
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