How does the Georgia Real Estate Commission (GREC) differ from a local board of REALTORS®?
Correct Answer
B) A voluntary trade group such as a board of REALTORS® is separate from the state licensing authority.
GREC is a state regulatory body established under O.C.G.A. Title 43, Chapter 40, with authority to license, regulate, and discipline real estate professionals in Georgia. A board of REALTORS® is a voluntary, private trade association affiliated with the National Association of REALTORS® (NAR). The two serve fundamentally different purposes: one is a government regulator and the other is a membership-based professional organization.
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