A Georgia licensee is the subject of a GREC complaint arising from a purchase transaction that fell through before closing. The licensee argues that because the transaction never closed, the Commission has no basis to take action. Which statement correctly describes the Commission's authority?
Correct Answer
A) A final order or consent order can impose conditions that affect the licensee's license even if the underlying transaction was never completed.
A is correct. Under O.C.G.A. § 43-40-25, the Commission's authority to discipline licensees is based on the licensee's conduct, not on the outcome of the transaction. Whether a transaction closed, collapsed, or was never completed does not limit the Commission's power to issue final orders or consent orders imposing conditions such as fines, probation, suspension, additional education, or revocation.
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Previous Question
A licensee receives notice that a consumer has filed a complaint with the Georgia Real Estate Commission regarding a transaction that also involves a pending civil lawsuit between the parties. Which statement correctly describes the Commission's authority in this situation?
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Agent Davis maintains transaction files for her completed deals. According to GREC requirements, which document must be included in every transaction file she maintains?