jeraboo,
The simple answer is yes, a Broker's license is needed if this is an
ongoing business activity if the person/company is acting as a
referral "company." There are exceptions, but I'm betting this is
ongoing. If the person or company meets these three criteria the
license requirement is waived:
(A) Does not receive a fee for such referral from the party being referred;
(B) Does not charge an advance fee; and
(C) Does not act as a referral agent in more than three transactions per year;
Here are the applicable portions of the law:
GEORGIA REAL ESTATE LICENSE LAW AND RULES AND REGULATIONS
http://www.grec.state.ga.us/grec/forms/other/2003%20Real%20Estate%20Manual%20.pdf
When you click, scroll down to the bottom to see the Index, it's much
easier to find what you need there than in the Table Of Contents.
EXCERPTS:
43-40-1. Definitions.
As used in this chapter, the term:
(2) "Broker" means any person who, for another, and who, for a fee,
commission, or any other valuable consideration or with the intent or
expectation of receiving the same from another:
(A) Negotiates or attempts to negotiate, or assists in procuring
prospects for the listing, sale, purchase, exchange, renting, lease,
or option for any real estate or of the improvements thereon;
(B) Holds himself or herself out as a referral agent for the purpose
of securing prospects for the listing, sale, purchase, exchange,
renting, lease, or option for any real estate;
(J) Advertises or holds himself or herself out as engaged in any of the foregoing.
43-40-10. Granting of broker's license, associate broker's license,
salesperson's license, or community association manager?s to
corporation, limited liability company, or partnership.
(a) No broker's license shall be granted to a firm unless:
(1) said firm designates an individual licensed as a broker as its
qualifying broker who shall be responsible for assuring that the firm
and its affiliated licensees comply with the provisions of this
chapter and its attendant rules and
regulations;
43-40-29. Exceptions to operation of chapter.
(a) Except as otherwise provided, this chapter shall not apply to:
(9) Any person acting as a referral agent who is not involved in the
actual negotiations, execution of documents, collection of rent,
management of property, or other related activity which involves more
than the mere referral of one person to another and who:
(A) Does not receive a fee for such referral from the party being referred;
(B) Does not charge an advance fee; and
(C) Does not act as a referral agent in more than three transactions per year;
520-1-.04 Advertising. Amended.
(1) This rule regulates advertising whether done personally by a
licensee or through any media. The term "media" includes, but is not
limited to, print, photographic, broadcast, and computer media
including, but not limited to, such
examples as newspapers, magazines, flyers, posters, radio, television,
signs, newsletters, and the Internet.
(2) Any advertising which is misleading or inaccurate in any material
fact or in any way misrepresents any property, terms, values,
services, or policies is prohibited.
NOTE, Contact information is on Page 2.
Here's their web site: http://www.grec.state.ga.us/
I hope this answers your question. If I can clarify for you, please
don't hesitate to ask via the "Request For Clarification" feature.
~~Cynthia
Search terms used at Google:
Georgia
"real estate license"
Broker
advertising
referrals OR leads |
