By Vicki Trapp, President-Elect
Greater Chattanooga Association of REALTORS®
In his absence this week, President Mark Blazek invited me to share about Association happenings. More than 30 Association leaders recently participated in the Tennessee and Georgia Associations’ state conventions. In addition to continuing education classes and industry updates, we discussed regulatory and licensing issues affecting licensees and the public.
In both Tennessee and Georgia, real estate licensees are governed respectively by the Tennessee and Georgia Real Estate Commissions (TREC and GREC). While state law varies, both Commissions serve a similar purpose – to protect the public through the enforcement of rules and regulations among real estate licensees to ensure minimum performance requirements, an honest market environment and professional conduct.
Here is an overview of recent or upcoming changes affecting Tennessee licensees and their clients/customers:
Effective January 1, 2014, all applicants for an initial real estate license (including time share licenses) will be fingerprinted. The purpose of the fingerprinting is for TREC to conduct a criminal background check of all applicants prior to issuing a license.
In an ongoing effort to ensure the public is not mislead by real estate advertising, TREC is taking a hard look at its advertising rules, which guide how licenses can advertise themselves and properties. Some current requirements include (1) Signage must include the licensee’s firm name in the same size as (or larger than) the individual licensee’s name or team name; and (2) Advertising must include the listing firm’s phone number in addition to any other direct contact numbers a licensee might choose to include in their advertising.
Regarding Georgia licensing law, we are not aware of any upcoming proposed changes. However, the Association monitor such issues regularly and will update consumers here and via social media as needed.
In addition to these regulatory updates during their state conventions, REALTORS® from southwest Tennessee and northwest Georgia spent time honing their personal and professional skills. Sessions topics included time management, ethical leadership, risk reduction, maintaining of confidential client information and paperless transaction, to name a few.