A GREC investigation reveals that a licensee conducted multiple real estate transactions over an 8-month period while holding an expired license and failed to disclose this status to clients. Which disciplinary action is GREC authorized to impose for these violations?
Correct Answer
B) Revocation of license
Under O.C.G.A. § 43-40-25, GREC has the authority to revoke a real estate license for serious violations, including conducting transactions without a valid license. Operating on an expired license for an extended period while failing to disclose that status to clients constitutes a serious breach of Georgia license law, warranting revocation. Note that revocation under Georgia law does not necessarily mean a permanent bar; a licensee may petition for reinstatement after a specified period.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
More Practice Of Real Estate Questions
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