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Archive for October, 2017

Do I Have to Let My Broker Know If I Buy/Sell/Lease Property?

Why do I have to tell my Broker that I am buying / selling / leasing / marketing a property that I own if I am not paying or collecting a commission? It’s part of License Law – that’s why! Once you have a real estate license issued to you by the State of Georgia, there is no distinction between real estate activities you do for the public or for yourself. See O.C.G.A 43-40-29 & O.C.G.A. 43-40-12 & GREC Rule 520-1-.11. These Laws apply to you whether you:

* Invest in real estate to flip

* Invest in real estate to rent

* Buy or Sell your own personal residence

* Buy or Sell or Exchange

* Manage properties you own

* Buy or Sell your own properties even if your license is Inactive

* Whether these properties are commercial or residential

GREC requires all licensees in Georgia to take a License Law Class. See the schedule for Maximum One Realtors and feel free to attend any of our classes: http://www.registerforREclasses.com

 

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