Barney Fletcher Chapter 1: Licensing Requirements

Barney Fletcher Chapter 1: Licensing Requirements Associate Broker - Ans ️️ a person who meets all the qualifications of a broker, but who chooses to work for a real estate broker and perform acts of real estate on the broker's behalf Community Association Manager (CAM) - Ans ️️ A person who acts on behalf of a real estate broker to offer only community association management services (CAM license) Firm - Ans ️️ Any business entity such as a sole proprietorship, partnership, limited liability company, or corporation licensed by the commission as a broker Licensee - Ans ️️ Refers to any person holding a real estate license, whether active or inactive Person - Ans ️️ Refers to an individual person and also to a business entity such as a corporation, partnership, or LLC Salesperson - Ans ️️ A person who is licensed to perform acts of real estate for a real estate broker Commission Member - Ans ️️ - There are 6 members total, appointed by the governor and confirmed by the state senate, for 5 year terms. The terms are staggered so that only one member expires each year. - 5 members must be licensed in real estate for at least 5 years, and a Georgia resident for at least 5 years