COLIBRI REAL ESTATE FINAL COMPLETE
COURSE REVIEW GUIDE
◉ How many commission members must be licensed.
Answer: Five of the six members of the Georgia Real Estate can have
licenses One must be an unlicensed member of the " general public
3. EARLNOTES
◉ What must happen with all funds in a sale.
Answer: All money that belongs to clients or customers must be
deposited in the brokerage trust fund as soon as possible ASAP after
receipt .
◉ What is the procedure for license expiration.
Answer: When a license has been lapsed for more than two years
but less than five years the former licensee may request
reinstatement and retake a 75 - hour pre - license course . After ten
years the former licensee must follow the procedure for new
applicants .
◉ Which descrihes dual agency.
Answer: When a broker appoints one of his agents to serve the seller
and one to serve the buyer , they are called designated agents and
the broker will serve as a dual agent .
,◉ What happens when someone recieves mistreatment from a real
estate licensee.
Answer: When a consumer or client ( not another licensee or a
relative of the accused licensee ) is financially damaged by the
actions of a licensee , he or she can file , through the court a claim
against the Georgia Real Estate Education , Research and Recovery
Fund for reimbursement up to $ 25,000 per transaction .
◉ For a brokerage or any licensee under a managing broker to be
considered a Dual Agent , he / she must.
Answer: obtain written permission from both the seller and the
buyer before acting on behalf of either party . BIRTH MONTHS
◉ When are renewal deadlines for licensees.
Answer: All renewal deadlines for licenses are set for the last day of
the licensee's birth month every four full years . ( The licensee's first
renewal period may be longer , depending on when the license was
obtained . It starts the last day of the birth month that arrives after
the license is obtained ) .
◉ What is the training hours required for licensees.
Answer: Assuming a licensee has competed the 25 - hour GA Post
License Course during the first year of licensure ) , he will receive
credit for 9 hours of Continuing education and will only need to
, complete 27 hours of CE during the rest of the licensee's first
licensure period . For the second four - year period and each renewal
thereafter . the requirement is 36 hours of CE.
◉ If a buyer client wishes to withdraw from a contract and get h his
earnest money returned the salesperson must.
Answer: REFER the issue to the EMPLOYING or managing BROKER
for a decision
◉ When every original license fee is received , of the funds received
_____from each license fee is allocated to fund the RE Education ,
Research and Recovery Fund.
Answer: 20$
◉ The clause in an agency agreement used to safeguard the broker
from unscrupulous buyers or sellers , who would take the broker's
generated leads , but then buy or sell the property once the listing
agreement has expired in order to avoid paying the commission to
the licensee is known as.
Answer: The Safety or Carryover Extender Clause .
◉ Under GA Law , a listing broker.
Answer: does not have to share his sales commission with the selling
broker who has procured the ultimate buyer, this is legal and not
against GA real estate law.
COURSE REVIEW GUIDE
◉ How many commission members must be licensed.
Answer: Five of the six members of the Georgia Real Estate can have
licenses One must be an unlicensed member of the " general public
3. EARLNOTES
◉ What must happen with all funds in a sale.
Answer: All money that belongs to clients or customers must be
deposited in the brokerage trust fund as soon as possible ASAP after
receipt .
◉ What is the procedure for license expiration.
Answer: When a license has been lapsed for more than two years
but less than five years the former licensee may request
reinstatement and retake a 75 - hour pre - license course . After ten
years the former licensee must follow the procedure for new
applicants .
◉ Which descrihes dual agency.
Answer: When a broker appoints one of his agents to serve the seller
and one to serve the buyer , they are called designated agents and
the broker will serve as a dual agent .
,◉ What happens when someone recieves mistreatment from a real
estate licensee.
Answer: When a consumer or client ( not another licensee or a
relative of the accused licensee ) is financially damaged by the
actions of a licensee , he or she can file , through the court a claim
against the Georgia Real Estate Education , Research and Recovery
Fund for reimbursement up to $ 25,000 per transaction .
◉ For a brokerage or any licensee under a managing broker to be
considered a Dual Agent , he / she must.
Answer: obtain written permission from both the seller and the
buyer before acting on behalf of either party . BIRTH MONTHS
◉ When are renewal deadlines for licensees.
Answer: All renewal deadlines for licenses are set for the last day of
the licensee's birth month every four full years . ( The licensee's first
renewal period may be longer , depending on when the license was
obtained . It starts the last day of the birth month that arrives after
the license is obtained ) .
◉ What is the training hours required for licensees.
Answer: Assuming a licensee has competed the 25 - hour GA Post
License Course during the first year of licensure ) , he will receive
credit for 9 hours of Continuing education and will only need to
, complete 27 hours of CE during the rest of the licensee's first
licensure period . For the second four - year period and each renewal
thereafter . the requirement is 36 hours of CE.
◉ If a buyer client wishes to withdraw from a contract and get h his
earnest money returned the salesperson must.
Answer: REFER the issue to the EMPLOYING or managing BROKER
for a decision
◉ When every original license fee is received , of the funds received
_____from each license fee is allocated to fund the RE Education ,
Research and Recovery Fund.
Answer: 20$
◉ The clause in an agency agreement used to safeguard the broker
from unscrupulous buyers or sellers , who would take the broker's
generated leads , but then buy or sell the property once the listing
agreement has expired in order to avoid paying the commission to
the licensee is known as.
Answer: The Safety or Carryover Extender Clause .
◉ Under GA Law , a listing broker.
Answer: does not have to share his sales commission with the selling
broker who has procured the ultimate buyer, this is legal and not
against GA real estate law.
