Georgia Real Estate Terms

Front 1

Agency

Back 1

every relationship in which a real estate broker acts for or represents another as a client by the latter's written authority in a real property transaction.

Front 2

Associate broker

Back 2

a person who acts on behalf of a real estate broker in performing any act authorized by this chapter to be performed by the broke.

Front 3

broker

Back 3

any person who, for another,and who , for a fee, commission, or any other valuable consideration, or with the intent or expectation of receiving the same from another:

*negotiates or attempts to negotiate, or assists in procuring prospects for the listing, sale, purchase ,exchange,renting , lease, or option for any real estate or of the improvements.

*holds himself or herself out as a referral agent for the purpose of securing prospects for the listing , sale, purchase , exchange, renting,lease,or option for any real estate.

*collects rents , assessments, or other trust funds or attempts to collect rents, assessments , or other trust funds.

*is employed by or on behalf of the owner or owners of lots, time-share intervals, or other parcels of real estate at a salary,fee, commission, or any other valuable consideration to sell such real estate or any part thereof in lots of parcels or intervals or other disposition jk

Front 4

Community association manager

Back 4

A person who acts on behalf of a real estate broker in providing only community association management services.

Front 5

Firm

Back 5

Any business entity, including, but not limited to, a corporation, partnership, limited liability company, or sole proprietorship.

Front 6

Licensee

Back 6

Any person who is licensed as a community association manager, salesperson, associate broker, or broker.

Front 7

Ministerial acts

Back 7

Those acts related to real estate brokerage activities, which a licensee or a licensee's employee performs and which do not require discretion or the exercise of the licensee's own judgment.

Front 8

Person

Back 8

Individuals and firms.

Front 9

Property management services

Back 9

The provision, for a valuable consideration, to another of marketing, including referring prospective tenants; leasing; physical, administrative, or financial maintenance; and overall management of real property; or supervision of the foregoing activities for another pursuant to a property management agreement.