Are flashcards effective for the Georgia real estate exam?

Yes. Flashcards use active recall — retrieving an answer from memory — which research shows is one of the most effective study methods, especially in short, spaced sessions. Because the Georgia exam rewards instant recall of statutes, agency rules, trust-account rules, and math formulas, the cards make that knowledge automatic.

What topics do the Georgia flashcards cover?

The Georgia state portion — GREC and O.C.G.A. Title 43, the GREC Rules, BRRETA agency, trust accounts, discipline and the Recovery Fund, the transfer tax, attorney closings, and security deeds — plus the national content areas: property and legal descriptions, ownership and title, value and appraisal, contracts and agency, practice and fair housing, disclosures and environment, financing and settlement, and real estate math.

How should I study with these Georgia flashcards?

Lead with the Georgia license-law cards — GREC, trust accounts, BRRETA, the Recovery Fund, and the transfer tax — because the state portion has distinctive law. Then drill contracts and agency and the math formulas. Mix the modes: flip to learn, type to test recall, match for speed, and quiz to check yourself.

Are the Georgia real estate flashcards free?

Yes — 100% free, all four study modes, no paywall and no sign-up.

Do these flashcards match the Georgia real estate exam?

Yes. The cards are organized around both portions of the PSI Georgia salesperson exam — the Georgia state-specific law and the national/general principles — so you study exactly what the test measures.

Georgia Real Estate Commission (GREC)

The Georgia state agency that licenses and regulates real estate salespersons, brokers, and community association managers under O.C.G.A. Title 43, Chapter 40.

How many members serve on GREC?

Six members, appointed by the Governor and confirmed by the Senate for five-year terms — five active licensees and one consumer member.

The sixth (consumer) member of GREC

Must have no connection to the real estate industry but a recognized interest in consumer protection.

Real Estate Commissioner (Georgia)

GREC's chief administrative officer, who directs staff, investigates complaints, and issues citations and orders.

O.C.G.A. Title 43, Chapter 40

The Official Code of Georgia Annotated chapter governing real estate brokers and salespersons — the source of GREC's authority.

GREC Rules (Chapter 520)

GREC's administrative rules implementing the statute — trust accounts, advertising, education, recordkeeping, and conduct.

Georgia salesperson pre-license education

A 75-hour GREC-approved salesperson course must be completed before sitting for the exam.

Minimum age for a Georgia salesperson license

18 years old, and the applicant must be a high school graduate or hold a certificate of equivalency.

Georgia 25-hour postlicense course

A new salesperson must complete a 25-hour GREC-approved postlicense course within the first year, or the license lapses.

Georgia continuing education requirement

36 hours of GREC-approved CE during each four-year renewal period, including a required 3-hour Georgia License Law course.

Georgia license renewal cycle

A real estate license renews every four years, due by the last day of the licensee's birth month at the end of the cycle.

Qualifying for the Georgia broker exam

An applicant must have held an active salesperson's license for at least three of the five years immediately preceding the application.

The Brokerage Relationships in Real Estate Transactions Act (O.C.G.A. Chapter 10-6A) — Georgia's statute defining agency relationships and duties.

Client vs. customer under BRRETA

A client is represented in an agency capacity under a brokerage engagement; a customer receives only ministerial acts with no agency relationship.

The contract (such as a listing or buyer agency agreement) that creates a client relationship under BRRETA.

Dual agency in Georgia

Lawful only with the prior written consent of all clients (O.C.G.A. 10-6A-12); the consent must describe the transaction and the adverse interests.

Designated agent (Georgia)

Two licensees in the same firm, each appointed by the broker to represent a different client in the same transaction, so neither is a true dual agent.

GREC trust fund deposit rule (520-1-.08)

A broker must deposit trust funds (earnest money) into the designated trust account as soon after receipt as is practicably possible.

Trust account record retention (Georgia)

A Georgia broker must retain trust account and transaction records for at least three years.

Trust account identification (Georgia)

The broker's trust account must be clearly identified as a trust or escrow account at the financial institution.

Trust account reconciliation (Georgia)

GREC requires a broker to reconcile the trust account at least monthly.

Commingling (Georgia)

Improperly mixing client trust funds with the broker's own or business funds — a violation of O.C.G.A. 43-40-20.

Maximum GREC fine per violation

Up to $1,000.00 for each violation of the license law or GREC rules (O.C.G.A. 43-40-25).

Maximum aggregate GREC fine per proceeding

Generally $5,000.00 for multiple violations in a single disciplinary proceeding (O.C.G.A. 43-40-25).

GREC disciplinary sanctions

GREC may censure, fine, suspend, or revoke a license, or require additional education (O.C.G.A. 43-40-25).

GREC citation (O.C.G.A. 43-40-25.2)

An order from the Commissioner that may require a broker to correct trust-account problems and take other action short of a full hearing.

Real Estate Education, Research, and Recovery Fund

A Georgia fund (O.C.G.A. 43-40-22) compensating the public for an uncollectible judgment against a licensee for fraud or conversion.

Recovery Fund per-claim limit

No single claimant may recover more than $25,000.00 from the Recovery Fund for a claim.

Recovery Fund per-licensee aggregate limit

The Fund's liability for the acts of any one licensee is capped at $75,000.00 in aggregate.

Effect of a Recovery Fund payment on a license

When the Fund pays on a licensee's behalf, GREC revokes the license; it is not reinstated until the Fund is repaid with interest.

Inactive (Georgia) license status

A salesperson not actively engaged in brokerage may place the license on inactive status rather than affiliating with a broker.

Georgia license lapse for nonpayment

If a license lapses for more than the statutory period for failure to pay renewal fees, the licensee may have to reinstate or re-examine.

Sponsoring broker (Georgia)

The broker who holds a salesperson's license; a salesperson must work under and be paid through this broker, never independently.

From whom may a Georgia salesperson accept compensation?

Only from the sponsoring broker who holds the license — never directly from a client or another party.

Georgia address-change notice

A licensee must notify GREC of a change in mailing address (Georgia requires prompt written notice).

When a Georgia real estate license is required

Generally whenever a person, for a fee, performs brokerage acts for another (listing, selling, leasing, or negotiating) under O.C.G.A. 43-40-1.

Exemptions from Georgia licensing

Owners dealing with their own property, attorneys acting in their practice, and certain others are exempt under O.C.G.A. 43-40-29.

Duties owed to a customer (O.C.G.A. 10-6A-5)

Honesty, fair dealing, and disclosure of known latent defects — but not full agency duties.

Georgia Fair Housing Act

O.C.G.A. Title 8, Chapter 3 — mirrors the federal protected classes (race, color, religion, sex, national origin, familial status, disability).

Who enforces the Georgia Fair Housing Act?

The Georgia Commission on Equal Opportunity, which investigates housing-discrimination complaints.

Georgia earnest money on a Saturday

The broker must still deposit it into the trust account as soon as practicably possible per GREC Rule 520-1-.08.

Self-dealing disclosure (Georgia)

A licensee buying for their own account, or selling property they own, must disclose their license status to the other party.

Georgia stigmatized-property statute

O.C.G.A. 44-1-16 — a death, felony, or a prior occupant's disease (e.g., HIV/AIDS) is not a material fact that must be volunteered.

Answering a direct disease question (Georgia)

Under O.C.G.A. 44-1-16, a licensee may decline to disclose whether a prior occupant had a disease such as HIV/AIDS, without liability.

Community association manager (CAM) license

A separate Georgia license category administered by GREC for those managing community associations.

Your FREE Georgia Real Estate Flashcards 2026 – 200+ Cards

Realistic Georgia real estate exam flashcards across both portions — GREC license law, BRRETA agency, trust accounts, the transfer tax, financing, and math. Flip, match, type, and quiz yourself.

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Georgia Real Estate Exam Flashcards

Georgia Real Estate Commission (GREC): The Georgia state agency that licenses and regulates real estate salespersons, brokers, and community association managers under O.C.G.A. Title 43, Chapter 40.
How many members serve on GREC?: Six members, appointed by the Governor and confirmed by the Senate for five-year terms — five active licensees and one consumer member.
The sixth (consumer) member of GREC: Must have no connection to the real estate industry but a recognized interest in consumer protection.
Real Estate Commissioner (Georgia): GREC's chief administrative officer, who directs staff, investigates complaints, and issues citations and orders.
O.C.G.A. Title 43, Chapter 40: The Official Code of Georgia Annotated chapter governing real estate brokers and salespersons — the source of GREC's authority.
GREC Rules (Chapter 520): GREC's administrative rules implementing the statute — trust accounts, advertising, education, recordkeeping, and conduct.
Georgia salesperson pre-license education: A 75-hour GREC-approved salesperson course must be completed before sitting for the exam.
Minimum age for a Georgia salesperson license: 18 years old, and the applicant must be a high school graduate or hold a certificate of equivalency.
Georgia 25-hour postlicense course: A new salesperson must complete a 25-hour GREC-approved postlicense course within the first year, or the license lapses.
Georgia continuing education requirement: 36 hours of GREC-approved CE during each four-year renewal period, including a required 3-hour Georgia License Law course.
Georgia license renewal cycle: A real estate license renews every four years, due by the last day of the licensee's birth month at the end of the cycle.
Qualifying for the Georgia broker exam: An applicant must have held an active salesperson's license for at least three of the five years immediately preceding the application.
BRRETA: The Brokerage Relationships in Real Estate Transactions Act (O.C.G.A. Chapter 10-6A) — Georgia's statute defining agency relationships and duties.
Client vs. customer under BRRETA: A client is represented in an agency capacity under a brokerage engagement; a customer receives only ministerial acts with no agency relationship.
Brokerage engagement: The contract (such as a listing or buyer agency agreement) that creates a client relationship under BRRETA.
Dual agency in Georgia: Lawful only with the prior written consent of all clients (O.C.G.A. 10-6A-12); the consent must describe the transaction and the adverse interests.
Designated agent (Georgia): Two licensees in the same firm, each appointed by the broker to represent a different client in the same transaction, so neither is a true dual agent.
GREC trust fund deposit rule (520-1-.08): A broker must deposit trust funds (earnest money) into the designated trust account as soon after receipt as is practicably possible.
Trust account record retention (Georgia): A Georgia broker must retain trust account and transaction records for at least three years.
Trust account identification (Georgia): The broker's trust account must be clearly identified as a trust or escrow account at the financial institution.
Trust account reconciliation (Georgia): GREC requires a broker to reconcile the trust account at least monthly.
Commingling (Georgia): Improperly mixing client trust funds with the broker's own or business funds — a violation of O.C.G.A. 43-40-20.
Maximum GREC fine per violation: Up to $1,000.00 for each violation of the license law or GREC rules (O.C.G.A. 43-40-25).
Maximum aggregate GREC fine per proceeding: Generally $5,000.00 for multiple violations in a single disciplinary proceeding (O.C.G.A. 43-40-25).
GREC disciplinary sanctions: GREC may censure, fine, suspend, or revoke a license, or require additional education (O.C.G.A. 43-40-25).
GREC citation (O.C.G.A. 43-40-25.2): An order from the Commissioner that may require a broker to correct trust-account problems and take other action short of a full hearing.
Real Estate Education, Research, and Recovery Fund: A Georgia fund (O.C.G.A. 43-40-22) compensating the public for an uncollectible judgment against a licensee for fraud or conversion.
Recovery Fund per-claim limit: No single claimant may recover more than $25,000.00 from the Recovery Fund for a claim.
Recovery Fund per-licensee aggregate limit: The Fund's liability for the acts of any one licensee is capped at $75,000.00 in aggregate.
Effect of a Recovery Fund payment on a license: When the Fund pays on a licensee's behalf, GREC revokes the license; it is not reinstated until the Fund is repaid with interest.
Inactive (Georgia) license status: A salesperson not actively engaged in brokerage may place the license on inactive status rather than affiliating with a broker.
Georgia license lapse for nonpayment: If a license lapses for more than the statutory period for failure to pay renewal fees, the licensee may have to reinstate or re-examine.
Sponsoring broker (Georgia): The broker who holds a salesperson's license; a salesperson must work under and be paid through this broker, never independently.
From whom may a Georgia salesperson accept compensation?: Only from the sponsoring broker who holds the license — never directly from a client or another party.
Georgia address-change notice: A licensee must notify GREC of a change in mailing address (Georgia requires prompt written notice).
When a Georgia real estate license is required: Generally whenever a person, for a fee, performs brokerage acts for another (listing, selling, leasing, or negotiating) under O.C.G.A. 43-40-1.
Exemptions from Georgia licensing: Owners dealing with their own property, attorneys acting in their practice, and certain others are exempt under O.C.G.A. 43-40-29.
Duties owed to a customer (O.C.G.A. 10-6A-5): Honesty, fair dealing, and disclosure of known latent defects — but not full agency duties.
Georgia Fair Housing Act: O.C.G.A. Title 8, Chapter 3 — mirrors the federal protected classes (race, color, religion, sex, national origin, familial status, disability).
Who enforces the Georgia Fair Housing Act?: The Georgia Commission on Equal Opportunity, which investigates housing-discrimination complaints.
Georgia earnest money on a Saturday: The broker must still deposit it into the trust account as soon as practicably possible per GREC Rule 520-1-.08.
Self-dealing disclosure (Georgia): A licensee buying for their own account, or selling property they own, must disclose their license status to the other party.
Georgia stigmatized-property statute: O.C.G.A. 44-1-16 — a death, felony, or a prior occupant's disease (e.g., HIV/AIDS) is not a material fact that must be volunteered.
Answering a direct disease question (Georgia): Under O.C.G.A. 44-1-16, a licensee may decline to disclose whether a prior occupant had a disease such as HIV/AIDS, without liability.
Community association manager (CAM) license: A separate Georgia license category administered by GREC for those managing community associations.
Georgia transfer tax authority: O.C.G.A. § 48-6-1 establishes Georgia's real estate transfer tax on recorded deeds.
Georgia transfer tax rate: $1.00 for the first $1,000 of consideration plus 10 cents ($0.10) per additional $100 — effectively $1 per $1,000.
Who pays the Georgia transfer tax?: The seller is primarily liable, and it is paid when the deed is recorded with the Clerk of Superior Court.
Georgia attorney closing: Georgia requires a licensed Georgia attorney to conduct the real estate closing and examine title.
Georgia security deed: Georgia's standard security instrument (deed to secure debt): the borrower conveys title to the lender until the loan is repaid.
Georgia foreclosure method: Foreclosure by power of sale — a non-judicial foreclosure by advertisement under the security deed.
Georgia is a title-theory state: Because the lender takes a security deed conveying title, Georgia is a title-theory (not lien-theory) state.
Where Georgia deeds are recorded: With the Clerk of Superior Court in the county where the property is located.
Georgia ministerial acts: Acts that involve no discretion or advocacy, such as showing property or providing forms — what a broker may do for a customer.
Untrustworthy or dishonest dealing (Georgia): A ground for discipline under O.C.G.A. 43-40-25, even for acts outside a specific transaction.
Georgia background check: Applicants submit a criminal-history (GCIC) report and verify lawful presence with the license application.
Brokerage engagement vs. listing: A brokerage engagement is BRRETA's term for any agency contract; a listing is the seller-side example.
Single agent (Georgia): A broker representing only one client (buyer or seller) in a transaction, owing that client full BRRETA duties.
Transaction broker concept (Georgia): Georgia recognizes non-agency assistance: a broker may help as a facilitator without forming a client (agency) relationship.
Advertising rule (Georgia): All advertising must be done in the name of, and authorized by, the sponsoring broker; blind ads are prohibited.
Broker price opinion (Georgia): A licensee may prepare a broker price opinion or CMA but may not call it a formal appraisal unless licensed as an appraiser.
GREC Infinity: GREC's online licensing system where Georgia licensees apply, renew, and manage their license records.
First-renewal CE credit (Georgia): For a first renewal, the 25-hour postlicense course counts toward 9 of the 36 required CE hours.
Broker-specific CE (Georgia): Georgia brokers must include a minimum number of broker-specific CE hours within the 36-hour requirement.
Improper handling of trust funds (Georgia): A frequent basis for GREC discipline, including failing to deposit, commingling, or converting client funds.
Georgia broker responsibility: The broker holding a salesperson's license is responsible for the proper handling of trust funds and supervision.
Net listing in Georgia: Permitted but disfavored; the conflict of interest makes full disclosure essential and GREC scrutinizes them.
Georgia license reciprocity: GREC offers license recognition for certain out-of-state licensees who meet Georgia requirements.
Real property: Land plus everything permanently attached to it (improvements and fixtures) and the bundle of legal rights of ownership.
Personal property (chattel): Movable items not permanently attached to land; transferred by a bill of sale, not a deed.
Bundle of rights: Possession, use (enjoyment), exclusion, disposition (transfer), and control.
Fee simple absolute: The most complete ownership — absolute, of unlimited duration, freely transferable by deed or will.
Life estate: An estate limited to the life of a person; on death it passes to a remainderman or reverts to the grantor.
Fixture: Personal property attached to realty so it becomes part of it; the MARIA tests decide fixture status.
MARIA test: Method of attachment, Adaptability, Relationship of parties, Intention, and Agreement — used to identify a fixture.
Trade fixture: An item a tenant attaches for business use; it remains the tenant's personal property and may be removed.
Easement: A nonpossessory right to use another's land for a purpose, such as a driveway or utility line.
Easement appurtenant: An easement benefiting an adjacent parcel (the dominant tenement) and burdening another (the servient tenement).
Encroachment: An improvement that unlawfully extends onto a neighbor's land; an encumbrance affecting title.
Encumbrance: Any claim, lien, charge, or right that limits an owner's title — liens, easements, deed restrictions.
Police power: Government's authority to regulate land for public health, safety, and welfare — zoning and building codes.
Eminent domain: Government's power to take private property for public use through condemnation, paying just compensation.
Escheat: Property reverts to the state when an owner dies with no will and no heirs.
PETE: The four government powers: Police power, Eminent domain, Taxation, Escheat — only eminent domain pays the owner.
Metes and bounds: A legal description using distances and compass directions traced back to a point of beginning — common in Georgia.
Lot-and-block: A legal description referencing a recorded plat map by lot and block number in a subdivision.
Acre: A unit of land area equal to 43,560 square feet.
Deed restriction (CC&Rs): Private limits on land use placed by a developer or owner; enforced by other owners, not the government.
Severalty: Sole ownership by one person or legal entity.
Tenancy in common: Co-ownership with no survivorship; each owner holds an undivided, willable share.
Joint tenancy: Co-ownership with the right of survivorship; in Georgia the survivorship intent must be clearly expressed.
Four unities of joint tenancy: Time, Title, Interest, and Possession — all required to create a joint tenancy.
Is Georgia a community-property state?: No — Georgia is a common-law (separate-property) state, not a community-property state.
General warranty deed: The deed giving the most protection; the grantor warrants clear title against all defects, even pre-ownership ones.
Limited (special) warranty deed: Warrants title only against defects arising during the grantor's ownership.
Quitclaim deed: Conveys only whatever interest the grantor has, with no warranties; used to clear clouds on title.
Requirements of a valid deed: Competent grantor, named grantee, consideration, granting clause, legal description, and the grantor's signature and delivery.
Delivery and acceptance: Title passes when the grantor delivers the deed and the grantee accepts it — not merely on signing.
Recording (constructive notice): Recording a deed in the county gives constructive notice and establishes priority of interests.
Title insurance: A policy protecting the insured against loss from title defects that existed before the policy date.
Chain of title: The recorded history of ownership of a parcel; a break is a cloud on title.
Cloud on title: Any claim or encumbrance that impairs marketable title; often cleared with a quitclaim deed.
Adverse possession: Acquiring title by open, notorious, continuous, hostile possession for the statutory period.
Testate vs. intestate: Testate = dying with a valid will; intestate = dying without one, so property passes by state law.
Probate: The court process that validates a will and oversees the transfer of a decedent's property.
Habendum clause: The 'to have and to hold' clause in a deed that defines the extent of the interest granted.
Market value: The most probable price a property should bring in a competitive, open market under fair conditions — an opinion.
Market value vs. market price: Market value is an opinion of worth; market price is the actual amount a property sold for.
Appraisal: An impartial, supported opinion of value by a licensed appraiser as of a specific date, following USPAP.
Comparative market analysis (CMA): A licensee's value estimate from recent comparable sales to help price a listing — not a formal appraisal.
Highest and best use: The legal, physically possible, financially feasible, and most profitable use of a site — the basis of value.
Principle of substitution: A buyer will pay no more than the cost of an equally desirable substitute property.
Sales comparison approach: Compares the subject to recently sold similar properties, adjusting for differences. Best for homes.
Cost approach: Land value + cost to rebuild the improvements new − depreciation. Best for new or special-use property.
Income (capitalization) approach: Value = net operating income ÷ capitalization rate. Best for income-producing property.
Net operating income (NOI): Effective gross income minus operating expenses, before any mortgage payment.
Capitalization rate: NOI ÷ value; a higher cap rate signals more risk and a lower value.
Reconciliation: Weighing the three approaches into one final opinion of value — not simply averaging them.
Depreciation (appraisal): Loss in value from physical deterioration, functional obsolescence, or external (economic) obsolescence.
Functional obsolescence: Loss in value from outdated design or features within the property, such as a poor floor plan.
External obsolescence: Loss in value from factors outside the property, such as a nearby nuisance — generally incurable.
Gross rent multiplier (GRM): A quick value tool: price ÷ gross monthly (or annual) rent, used to compare rental properties.
Contract: A legally enforceable agreement between competent parties to do or refrain from doing a lawful act.
Essential elements of a valid contract: Mutual agreement (offer & acceptance), consideration, legal purpose, and competent parties.
Statute of frauds: Requires contracts for the sale of real estate (and most leases over a year) to be in writing to be enforceable.
Void contract: A contract with no legal effect because it lacks an essential element.
Voidable contract: A valid contract one party may rescind, such as one signed by a minor.
Bilateral vs. unilateral contract: Bilateral = a promise for a promise; unilateral = a promise for an act (e.g., an option).
Earnest money: A buyer's good-faith deposit held in the broker's trust account, usually applied to the price at closing.
Contingency: A condition that must be met for a contract to become binding, such as financing or inspection.
Specific performance: A court order making a defaulting party complete the sale, available because land is unique.
Liquidated damages: An agreed amount (often the earnest money) a party keeps if the other defaults.
Listing agreement: A contract employing a broker to find a buyer for the owner's property for compensation.
Exclusive right-to-sell listing: The listing broker earns the commission no matter who finds the buyer.
Exclusive agency listing: The broker earns the commission unless the owner sells the property themselves.
Open listing: Only the broker who actually procures the buyer earns a commission.
Net listing: The broker keeps any amount above the seller's set price — a conflict of interest, disfavored.
Agency: A fiduciary relationship in which an agent represents a principal in dealings with third parties.
Fiduciary duties (OLD CAR): Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care.
Confidentiality duty: An agent must protect the client's confidential information — and it survives the end of the relationship.
Express vs. implied agency: Express agency is created by a written or oral agreement; implied agency arises from conduct.
Procuring cause: The broker whose efforts directly result in the sale and who is therefore owed the commission.
Buyer agency agreement: A brokerage engagement creating a client relationship between a broker and a buyer under BRRETA.
Single vs. dual agency: Single agency = representing one party; dual agency = representing both, allowed in Georgia only with written consent.
Novation: Substituting a new contract or party for an old one, releasing the original party from liability.
Fair Housing Act (1968): Federal law banning housing discrimination by race, color, religion, national origin, sex, familial status, and disability.
Steering: Illegally guiding buyers toward or away from neighborhoods based on a protected class.
Blockbusting: Inducing panic selling by suggesting a protected class is moving into an area.
Redlining: A lender refusing to lend or insure in an area based on its racial or ethnic makeup.
Reasonable accommodation: A change in rules or policies so a person with a disability can use housing, such as allowing a service animal.
Antitrust (commission fixing): Brokers may not agree with competitors to fix commission rates — rates are always negotiable.
Lease (leasehold estate): A contract conveying the right to use property for a term in exchange for rent (lessor = landlord, lessee = tenant).
Gross lease: The tenant pays a fixed rent and the landlord pays the operating expenses.
Net lease: The tenant pays rent plus some or all of the property's operating expenses (taxes, insurance, maintenance).
Property management agreement: A contract making a broker the owner's agent to manage a property for a fee.
Georgia landlord-tenant law: Georgia residential leases are governed by Georgia landlord-tenant law under O.C.G.A. Title 44.
Security deposit (Georgia): Held for the tenant; Georgia law governs how and when it must be returned after the lease ends.
Constructive eviction: When a landlord's failure to maintain the premises makes them uninhabitable, justifying the tenant's departure.
Conversion (trust funds): A licensee using client trust money for the licensee's own purposes — a serious violation.
Do-not-call & advertising rules: Licensees must follow federal telemarketing and truthful-advertising rules in their practice.
Material fact: Any fact that would affect a buyer's decision or the price they would pay; known material facts must be disclosed.
Latent defect: A hidden physical defect not discoverable by ordinary inspection; a known latent defect must be disclosed.
Patent defect: An obvious defect a reasonable inspection would reveal.
Caveat emptor (modern limit): 'Let the buyer beware' — now limited by disclosure laws requiring sellers and agents to reveal known material defects.
Seller's property disclosure (Georgia): A common Georgia form for disclosing the property's known condition, though stigmas under O.C.G.A. 44-1-16 are exempt.
Lead-based paint disclosure: For pre-1978 housing: disclose known lead paint, give the EPA pamphlet, and allow a 10-day inspection window for sales.
Target housing: Residential dwellings built before 1978 — the housing covered by the federal lead-based-paint rule.
Radon: An odorless, radioactive gas from soil that can accumulate indoors and is a known health hazard.
Asbestos: A hazardous fiber in old insulation and flooring; controlled by removal or encapsulation.
Mold: Grows in damp areas; may require disclosure and remediation.
Underground storage tank (UST): Can leak and contaminate soil and groundwater, creating cleanup liability.
CERCLA (Superfund): Federal law imposing liability for cleanup of hazardous-substance contamination.
Wetlands: Federally protected areas where development is restricted and may require permits.
Promissory note: The borrower's written promise to repay the loan — the evidence of the debt.
Security deed (Georgia): Georgia's financing instrument: the borrower conveys title to the lender until the loan is repaid.
Foreclosure by power of sale: Georgia's non-judicial foreclosure by advertisement under the security deed's power-of-sale clause.
Conventional loan: A loan not insured or guaranteed by the government; PMI is usually required if the LTV exceeds 80%.
FHA loan: A loan insured by the Federal Housing Administration, allowing lower down payments.
VA loan: A loan guaranteed by the Department of Veterans Affairs, often with no down payment, for eligible veterans.
Private mortgage insurance (PMI): Insurance a borrower pays on a conventional loan when the LTV exceeds 80%, protecting the lender.
Loan-to-value ratio (LTV): Loan amount ÷ value (or price); a higher LTV means a smaller down payment and more lender risk.
RESPA: The Real Estate Settlement Procedures Act — requires settlement-cost disclosures and bans kickbacks.
TILA / Regulation Z: The Truth in Lending Act — requires lenders to disclose the cost of credit, including the APR.
Loan Estimate: A disclosure the lender must give within three business days of application under TRID.
Closing Disclosure: A disclosure the borrower must receive at least three business days before closing under TRID.
Discount points: Prepaid interest paid at closing to lower the loan's interest rate; one point = 1% of the loan amount.
Attorney closing (Georgia): Georgia requires a licensed attorney to conduct the closing, disburse funds, and record the deed.
Commission formula: Commission = sale price × commission rate.
Commission on a $300,000 sale at 6%: $300,000 × 0.06 = $18,000 total commission.
Price for a target seller net: Price = net ÷ (1 − commission rate). A $282,000 net at 6% needs $282,000 ÷ 0.94 = $300,000.
Georgia transfer tax (math): Divide the sale price by 1,000 — a $250,000 sale owes $250.00 (about $1 per $1,000).
Loan-to-value (math): LTV = loan ÷ value; an 80% LTV on a $300,000 home is a $240,000 loan.
Square feet per acre: One acre = 43,560 square feet — a figure not provided at the test center.
Feet per mile: One mile = 5,280 feet — memorize it for the exam.
Acres in a section: One section = 640 acres = one square mile.
Income approach value (math): Value = NOI ÷ cap rate. $90,000 NOI ÷ 0.09 = $1,000,000.
Annual property tax: Assessed value × tax rate (or mills × 0.001 × assessed value).
Proration: Splitting taxes, rent, or interest by the days each party owns the property as of closing.
Area of a rectangle: Area = length × width; for an irregular lot, divide it into rectangles and triangles.
Percentage of profit: Profit ÷ cost (original investment) = percent gain; a $20,000 gain on $200,000 is 10%.

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By Career EmployerUpdated Jun 21, 2026

200+ free Georgia Real Estate Exam flashcards — 4 ways to study

Georgia Real Estate Exam Flashcard of the DayNew daily

The classic card. Do you know this one?

Click Study Flashcards above to open the flashcard hub — 200 Georgia real estate cards you can flip, match, type, or quiz yourself on. Every card is drawn from the Georgia salesperson exam’s two portions, so you study exactly what the test measures.^[1] Pair them with our free practice test and study guide.

Georgia Real Estate Flashcard Study Modes

Most flashcard sites give you one thing: a card to flip. Ours has four modes so you can both learn the material and prove you know it — the difference between recognizing an answer and recalling it under exam pressure.

Flip (Study) — the classic card. Flip term ↔ definition, shuffle the deck, and mark each card “Got it” or “Still learning.”
Match (Game) — a timed game: pair each term to its definition as fast as you can. Great for cementing GREC rules, BRRETA terms, and math formulas.
Type (Recall) — read the definition and type the term. Typing forces true active recall instead of passive recognition.
Quiz (Test) — multiple-choice questions generated from the cards, so you self-test exactly like exam day.

Free Georgia real estate exam flashcards from Career Employer — active recall for the GREC salesperson licensing exam

Why Flashcards Work for the Georgia Real Estate Exam

Flashcards aren’t busywork — they’re built on active recall: pulling an answer out of memory strengthens it far more than re-reading notes. Pair that with spacing — short sessions across several days rather than one cram — and you retain more in less time.

The Georgia exam rewards instant recall of the statutes and GREC Rules, BRRETA agency and trust-account rules, and math formulas.^[1] Spaced flashcards are the most efficient way to make that knowledge automatic. Used alongside our practice test and study guide, they turn review time into measurable progress.

Georgia Real Estate Flashcards by Content Area

The cards cover both portions of the exam. Drill the Georgia state law first — it has the most distinctive content and is where many candidates lose points — then lock in the national content areas:^[3]

Georgia real estate flashcards by content area
Content area	What the cards cover
Georgia License Law & Practice	GREC, O.C.G.A. Title 43, the GREC Rules, BRRETA, trust accounts, the Recovery Fund, transfer tax, security deeds
Property, Legal Descriptions & Use	Estates, fixtures, easements, government powers, legal descriptions
Ownership, Transfer & Recording	Co-ownership, deeds, security deeds, recording, title insurance
Property Value & Appraisal	Value principles, the three approaches, CMA vs. appraisal
Contracts & Agency	Contract law, listings, fiduciary duties, dual & designated agency
Real Estate Practice	Fair housing, trust funds, leases and management
Disclosures & Environmental	Material facts, latent defects, stigmatized property, lead paint, radon
Financing & Settlement	Notes, security deeds, foreclosure by power of sale, RESPA, TILA, attorney closing
Real Estate Math	Commission, LTV, taxes, transfer tax, proration, area

How to Get the Most Out of These Flashcards

Lead with Georgia law. GREC, trust accounts, BRRETA, the Recovery Fund, and the transfer tax anchor the distinctive state portion — start there.
Master the staples. Use Match and Type to lock in the fiduciary duties (OLD CAR), the government powers (PETE), the deed types, and the core math formulas.
Use Type and Quiz, not just Flip. Recognizing the right answer is easy; recalling and choosing it under pressure is the real test.
Then prove it. When the cards feel easy, confirm with the full practice test — read every rationale before exam day.

Georgia Real Estate Flashcards FAQ

Two hundred free Georgia real estate exam flashcards, weighted toward Georgia license law (GREC, O.C.G.A. Title 43, the GREC Rules, BRRETA agency, trust accounts, the Recovery Fund, the transfer tax, and security deeds) and covering all of the national content areas too. They're free with no account required.

References

1.Georgia Real Estate Commission. “Georgia Real Estate Commission & Appraisers Board.” GREC (grec.state.ga.us). ↑
2.Georgia General Assembly. “O.C.G.A. Title 43, Chapter 40 — Real Estate Brokers and Salespersons.” Official Code of Georgia Annotated. ↑
3.PSI Services / GREC. “Georgia Real Estate Commission Candidate Information Bulletin.” PSI Exams. ↑

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