A newly licensed salesperson asks her broker how the Georgia Real Estate Commission (GREC) relates to the local board of REALTORS®. Which statement accurately describes the relationship between GREC and voluntary trade associations?
Correct Answer
C) GREC is a state regulatory body that is separate and distinct from voluntary trade organizations such as boards of REALTORS®.
Under O.C.G.A. Title 43, Chapter 40, the Georgia Real Estate Commission is established as a state regulatory agency with authority over licensing, rulemaking, and discipline. Boards of REALTORS® are private, voluntary trade associations with no governmental regulatory power. The two are entirely separate entities with different purposes, governance structures, and legal authority.
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