Compilation of Rules and Regulations of the State of Georgia Department 520 - GEORGIA REAL ESTATE COMMISSION
Compilation of Rules and Regulations of the State of Georgia – Department 520
GEORGIA REAL ESTATE COMMISSION (GREC)
The Georgia Real Estate Commission is responsible for administering license law for real estate brokers, salespersons, and community association managers in Georgia. Department 520 of the Georgia Administrative Code outlines all the official rules and procedures enforced by the Commission.
Key Areas Covered under Department 520:
Here’s a summary of the main rule chapters typically found in Department 520:
520-1: Organization and Procedures
Structure of the Commission
Meeting procedures
Rulemaking authority
Fees
520-2: Licensing Requirements
Application process for salespersons, brokers, and community association managers
Education and experience requirements
Examination procedures
520-3: Post-license and Continuing Education
CE requirements for license renewal
Mandatory courses and timeframes
520-4: Brokerage Relationships
Agency relationships and disclosures
Dual agency rules
Transaction brokerage standards
520-5: Trust Accounts and Records
Handling of client and escrow funds
Recordkeeping requirements
Audits and reporting
520-6: Advertising Rules
Requirements for licensee advertising
Team names, signs, internet advertising
520-7: Conduct and Disciplinary Action
Grounds for license sanctions
Unfair trade practices
Complaint process and investigations
520-8: Management and Supervision
Broker responsibilities for affiliated licensees
Office operations
520-9: Community Association Managers
Licensing and rules specific to CAMs (Community Association Managers)
520-10: Schools and Instructors
Rules for prelicense schools, instructors, and CE providers
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