EstatePass
Practice Of Real EstateLicense_lawMEDIUM

What is the primary statutory purpose of the Georgia Real Estate Commission?

Correct Answer

A) To license and regulate covered real estate activities in order to protect the public interest, rather than to serve as a private advocate for any party to a transaction.

Under O.C.G.A. Title 43, Chapter 40, the Georgia Real Estate Commission was established to protect the public by regulating the real estate profession through licensing, education requirements, and disciplinary authority. The Commission's mandate is rooted in the state's police power to safeguard consumers, not to advocate for or guarantee benefits to any private party in a transaction.

Answer Options
A
To license and regulate covered real estate activities in order to protect the public interest, rather than to serve as a private advocate for any party to a transaction.
B
To ensure that licensed brokers and salespersons receive fair compensation for every completed transaction.
C
To mediate contractual disputes between buyers and sellers so that parties do not need to pursue private litigation.
D
To establish minimum sale prices for residential properties in order to maintain market stability across Georgia.

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Practice Of Real Estate Question

Sign up free to unlock full analysis

Background Knowledge for Practice Of Real Estate

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Practice Of Real Estate

Sign up free to unlock full analysis

Common Mistakes to Avoid on Practice Of Real Estate Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

georgiastate_portionocga_title43_ch40ga_license_law
Was this explanation helpful?

More Practice Of Real Estate Questions

People Also Study

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing