Agent as Principal

We have had a number of calls regarding agents working their own deals.  This is a very common practice but we feel that some points need to be mentioned so everyone is clear regarding company policy and GREC regulations regarding Agents acting as Principals in their own transaction.

Agent Personal Transactions - General Information
GREC requires Licensee to notify Broker in writing of participating in ANY real estate transaction as a principal. This notification must be sent to Broker from Licensee BEFORE transaction is underway. For example, if Licensee will be purchasing a property, notification should be sent when the home search begins, not after the contract is accepted. ALL notifications are to be sent to: broker@solidsource.net.

GREC also requires Licensee to fully disclose that Licensee is a licensed real estate agent in the state of Georgia and holds his license with Broker as an Independent Contractor.