GA Real Estate study guide
GA Real Estate · Work through your exam, one topic at a time.
The Georgia real estate salesperson license is the entry-level credential that lets you perform brokerage activities in Georgia under the supervision of a licensed broker. It is issued by the Georgia Real Estate Commission (GREC), a state regulatory body, and it is the first step for anyone who wants to list property, work with buyers and sellers, or join a brokerage team. The GA Real Estate study guide has 11 sections and about 3,790 words.
01Property Ownership, Land Use Controls, and Environmental Issues
Know the freehold estates (fee simple absolute, life estate, life estate pur autre vie) and the leasehold estates (estate for years, periodic tenancy, tenancy at will, tenancy at sufferance). For co-ownership, Georgia allows joint tenancy with right of survivorship only when survivorship language is express; otherwise co-owners hold as tenants in common.
333 words, about 2 min02Laws of Agency and Fiduciary Duties
Agency is a relationship in which one person (the agent) acts for another (the principal) with the principal's consent and control. It may be created expressly, impliedly, by ratification, or by estoppel - but in Georgia a brokerage engagement must be in writing.
361 words, about 2 min03Property Valuation and Market Analysis
Sales comparison (adjust comparables for differences, never adjust the subject) is the primary approach for residential resale. Cost approach (land value plus replacement or reproduction cost minus depreciation) suits new or special-purpose property.
333 words, about 2 min04Real Estate Financing and Lending
A loan has two documents: the promissory note (the promise to pay) and the security instrument. Georgia is a title-theory state and lenders use a deed to secure debt rather than a mortgage; title to the property passes to the lender until the debt is satisfied, and the borrower retains equitable title.
359 words, about 2 min05Contracts and Contract Law
A valid contract needs offer, acceptance, consideration, capacity, and legality, and some contracts must be in writing. Georgia's statute of frauds requires writing for contracts for the sale of land and for leases longer than one year, and the writing must identify the parties, the property, and the price or terms.
351 words, about 2 min06Transfer of Title, Deeds, and Settlement
A deed requires a competent grantor, an identifiable grantee, words of conveyance, a legal description, and delivery with acceptance; in Georgia it must be signed by the grantor and attested or notarized, then recorded in the clerk of superior court of the county where the land lies. Georgia's statutory general warranty deed contains five covenants: seisin, right to convey, against encumbrances, quiet enjoyment, and warranty forever.
302 words, about 2 min07Practice of Real Estate, Disclosures, and Consumer Protection
Licensees must disclose known material adverse facts about the property, their own interest in a transaction, any compensation received from a source other than their client, and the nature of the agency relationship. Georgia has no mandatory statewide seller property condition disclosure form for typical residential resale, so the doctrine of caveat emptor plus common-law fraud governs - but a seller who actively conceals a latent defect, or makes a false statement of material fact, is still liable.
340 words, about 2 min08Real Estate Calculations
Commission = price times rate; splits apply sequentially to the brokerage then to the agent. Loan-to-value = loan divided by value or price; down payment = price minus loan.
340 words, about 2 min09Georgia Real Estate License Law and Commission Rules
Georgia real estate licensing is governed by O.C.G.A. Title 43, Chapter 40 and the Rules of the Georgia Real Estate Commission, Chapter 520.
357 words, about 2 min10Georgia-Specific Agency, Contract, Disclosure, and Advertising Requirements
Georgia's Brokerage Relationships in Real Estate Transactions Act (BRRETA) governs agency. Brokerage engagements must be in writing - exclusive right to sell, exclusive agency, or open - and the licensee must disclose in writing whom he or she represents.
361 words, about 2 min11Fair Housing and Landlord-Tenant Law in Georgia
Under the federal Fair Housing Act it is unlawful to discriminate in sale, rental, advertising, or financing based on race, color, religion, sex (which HUD interprets to include sexual orientation and gender identity), national origin, familial status, or disability. Cover the prohibited acts: refusing to show or rent, different terms, steering, blockbusting, redlining, discriminatory advertising, and lies about availability.
353 words, about 2 min