As you go through the process of getting your Georgia real estate license, you’ll keep hearing this acronym: GREC (otherwise known as the Georgia Real Estate Commission). GREC is the regulatory body responsible for regulating the brokerage industry and licensing real estate practitioners. You'll want to learn about GREC because they have the greatest influence on how you can get and keep your Georgia real estate license.
If you’re currently taking a real estate course to get your Georgia real estate license, it’s because it’s required by GREC!
Georgia Real Estate Commission Responsibilities
So, what does GREC do? GREC is responsible for:
Administering the real estate license law relevant to brokers, salespersons, and community association managers in Georgia
Maintaining licensee records and compiling reports
Regulating the initial licensing and license renewal process for real estate professionals
Investigating license violations and imposing sanctions
Go here for GREC’s latest news and announcements!
Georgia Real Estate Commission and the Public Interest
GREC does these things in order to protect the public interest. You see, GREC's not here to protect you and your real estate colleagues. It's not designed to protect consumers, either. It's a neutral group whose interest is in the greater good of the public (that's everyone!).
GREC aims to achieve this by permitting only scrupulous and competent people to practice real estate. In addition, GREC keeps the real estate industry accessible to all kinds of people, stays out of private disputes, and never uses the law to advance the interests of private trade associations. GREC also encourages free and open markets.
Georgia Real Estate Commission Members
GREC is made up of six members. Each member is appointed by the governor and confirmed by the Georgia Senate. Here’s the breakdown!
Georgia Real Estate Commission Meetings
The Georgia Real Estate Commission meets at least once per month. As long as four members are present, there is a quorum, meaning enough of the group is present to carry out GREC business. Some of this business may involve taking a vote. Note that a member cannot vote in matters where there is a conflict of interest.
GREC may welcome members of the public during these meetings. Any person or group can make a written request to personally appear in front of GREC to present an issue. GREC will hear out three people or groups per meeting, allotting 15 minutes for each presentation or discussion.
For matters that don't require an in-person meeting, there is a process for asking for clarification of rules, or proposing new rules or amendments in writing.
Annual Georgia Real Estate Commission Report
GREC (more specifically, the chairperson) files an annual report of their actions and expenses with Georgia’s governor. Both houses of the General Assembly get a copy of this report, too. This report includes:
A summary of everything GREC did that year
A list of staff
A financial report showing income and disbursement of funds
The total number of people licensed by GREC
A report on research and education carried out by GREC to further its goal of protecting the public
Plans for the coming year regarding additional research and education
More on the Georgia Real Estate Commission
Want to know a bit more about GREC? Go here for more information!