This chapter shall be known as and may be cited as the “Brokerage Relationships in Real Estate Transactions Act.” History. Code 1981, § 10-6A-1 , enacted by Ga. L. 1993, p. 376, § 1; Ga. L. 2000, p. 929, § 1. Law reviews. For annual survey of real property law, see 57 Mercer L. Rev. […]
All brokerage engagements must: Advise the prospective client of the types of agency relationships available through the broker; Advise such prospective client of any brokerage relationships held by such broker with other parties which would conflict with any interests of the prospective client actually known to the broker but excluding the fact that the broker […]
The payment or promise of payment of compensation to a broker by a seller, landlord, buyer, or tenant shall not determine whether a brokerage relationship has been created between any broker and a seller, landlord, buyer, or tenant. History. Code 1981, § 10-6A-11 , enacted by Ga. L. 1993, p. 376, § 1; Ga. L. […]
A broker may act as a dual agent only with the written consent of all clients. Such written consent shall contain the following: A description of the transactions or types of transactions in which the broker will serve as a dual agent; A statement that, in serving as a dual agent, the broker represents two […]
A broker may assign directly or through the adoption of a company policy different licensees affiliated with the broker as designated agents to exclusively represent different clients in the same transaction. In addition, the broker may delegate such assignment responsibility to other management level personnel acting under a company policy. Any company policy adopted to […]
A broker acting as a transaction broker may provide assistance to buyers, sellers, tenants, and landlords by performing ministerial acts. Examples of ministerial acts which can be performed by the transaction broker on behalf of any of the parties in a real estate transaction include without limitation the following: Identifying property for sale, lease, or […]
Except as may be provided in a written agreement between the parties, a broker shall not be deemed to have an agency relationship with a common source information company. No broker shall be deemed to be a subagent of any client of another broker solely by reason of membership or other affiliation by such brokers […]
Nothing contained in this chapter shall limit the Georgia Real Estate Commission in its regulation of brokers and the broker’s affiliated licensees pursuant to Chapter 40 of Title 43 and the substantive rules and regulations adopted by the commission pursuant thereto. History. Code 1981, § 10-6A-14 , enacted by Ga. L. 1993, p. 376, § […]
The General Assembly finds, determines, and declares that application of the common law of agency to the relationships between real estate brokers and persons who are sellers, buyers, landlords and tenants of rights and interests in real property has resulted in misunderstandings and consequences that have been contrary to the best interests of the public; […]
As used in this chapter, the term: “Agency” means 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. “Broker” means any individual or entity issued a broker’s real estate license by the Georgia Real Estate Commission pursuant to […]
A broker who performs brokerage services for a client or customer shall owe the client or customer only the duties and obligations set forth in this chapter, unless the parties expressly agree otherwise in a writing signed by the parties. A broker shall not be deemed to have a fiduciary relationship with any party or […]
A broker engaged by a seller shall: Perform the terms of the brokerage engagement made with the seller; Promote the interests of the seller by: Seeking a sale at the price and terms stated in the brokerage engagement or at a price and terms acceptable to the seller; provided, however, the broker shall not be […]
A broker engaged by a landlord shall: Perform the terms of the brokerage engagement made with the landlord; Promote the interests of the landlord by: Seeking a tenant at the price and terms stated in the brokerage engagement or at a price and terms acceptable to the landlord; provided, however, the broker shall not be […]
A broker engaged by a buyer shall: Perform the terms of the brokerage engagement made with the buyer; Promote the interests of the buyer by: Seeking a property at a price and terms acceptable to the buyer; provided, however, the broker shall not be obligated to seek other properties for the buyer while the buyer […]
A broker engaged by a tenant shall: Perform the terms of the brokerage engagement made with the tenant; Promote the interests of the tenant by: Seeking a property to lease at a price and terms acceptable to the tenant; provided, however, the broker shall not be obligated to seek other properties for the tenant while […]
The relationships set forth in Code Sections 10-6A-4 through 10-6A-8 and Code Sections 10-6A-12 and 10-6A-13 shall commence at the time that the client engages the broker, and shall continue until: Completion of performance of the engagement; or If paragraph (1) of this subsection is not applicable, then the earlier of: Any date of expiration […]
