Join GABB Tuesday Morning
Karl Kirsch, CAE, Executive Director of the International Business Brokers Association, and Maggie Nicholson, the IBBA education & certification manager, will speak Tuesday, Oct. 29, at the monthly Georgia Association of Business Brokers meeting.
Kirsch and Nicholson will cover the legislative environment, like HR2274; The current business environment; IBBA membership benefits; the IBBA education program; the CBI credential and upcoming events.
The International Business Brokers Association (IBBA) is the largest international non-profit association operating exclusively for people and firms engaged in business brokerage and mergers and acquisitions. The association, based in Atlanta, provides business brokers education, conferences, professional designations, and networking opportunities. Formed in 1983, the IBBA has almost 1,000 business intermediaries across the world.
Join the GABB at 9:45 a.m. for a free light breakfast, provided this month by Carolyn Robinson of First State Bank, followed by the regular meeting at 10:30 a.m. at the South Terraces Conference Center, 115 Perimeter Center Place, Atlanta, GA, 30346. The Georgia Association of Business Brokers (GABB) is the state’s only professional organization dedicated to buying and selling businesses and franchises.
Karl Kirsch, CAE, serves as the vice president of the association management business practice for Meeting Expectations as well as the Executive Director of the International Business Brokers Association. His main responsibility is to lead his staff of over 30 association management professionals into making all of Meeting Expectations associations more successful.
Prior to joining Meeting Expectations, Karl worked in association management for nearly 20 years as an executive with various national and regional associations. He also worked for a year and a half as a merger and acquisition due diligence analysts for a third party firm specializing in the paper and power industries.
Karl holds a Bachelor of Science degree in engineering technology from the State University of New York and a Master of Science in technology management from the Stetson School of Business at Mercer University.
For more information on GABB this month, see our October GABB Today.
You are receiving this email because you have expressed an interest in the GABB in the past. Please email email@example.com to be removed from the mailing list.Diane Loupe, Communications Director, GABB Read More
GREC Updates and YOU
What’s happening at the Georgia Real Estate Commission these days that may interest you? As the Business Brokerage Industry Representative on the Education Advisory Committee to the GREC, it is my privilege to meet with the Georgia Real Estate Commissioner and Deputy Commissioner, several of the GREC Investigators, educators, school leaders, and other industry representatives in working sessions. This is my opportunity to provide input on issues that affect us and to learn what is happening within our regulatory, licensing, and continuing education environments. It is my pleasure to provide the members of GABB with some insights.
- Property Management Complaints: Cases resulting from complaints/requests for investigations are being processed more quickly and are resulting in more citations at higher fees. The most problematic issues are related to property management. Ten of thirteen citations issued last month were related to Licensees improperly managing their own property. Brokers, if you have Agents who have rental property, ensure proper compliance. Agents, recall the rules on Licensees dealing as principals. Practice only in areas in which you are competent.
- Reciprocity is still being offered by Georgia to Licensees in surrounding states, but Georgia is considering moving in the direction of our surrounding states’ commissions. Most of our neighbors have begun offering limited reciprocity, requiring Georgia Licensees to take the state portion of their test.
- Continuing Education: Georgia continuing education hours are still at 24 per every 4-year renewal period, which amounts to six per year. This places us 34% below the national average of 9.3 hours, with most states having some required subjects and annual (vs. renewal term) requirements. We should look for Georgia to raise our standards for continuing education.
- Money issues: Georgia is in the bottom 20% for all states’ licensing and renewal fees. Rebates to Principals in a transaction were recently clarified with a rules revision. A Licensee may not pay any fees to anyone who is NOT licensed, as we all know. However, within a transaction, it is NOT illegal to rebate fees to a client or customer, as this is no different than cutting commissions. If one is paying anyone other than one’s client, the client must be disclosed on the amount and reason for the payment.
- Lawful Presence: If you have renewed any licenses recently, you know you must now demonstrate that you are legally present in the country to obtain or renew licenses, such as a business license or real estate license. Due to some legislative misunderstandings, the GREC was told that all Licensees had to provide the proof of Lawful Presence each time we renew. (Silly, huh?) Good news: Our Georgia legislature managed to change this requirement, so you only have to prove your status on your first renewal, if you have not done so already.
- What is Stabilized NOI? Use our Georgia Real Estate Infobase as a reference in your business life: I am one of the editors who worked on this project, and it is now hosted on the GREC site. Due to the conversion from a private server, the search capabilities are not yet fully functional, but stand by for more user friendliness.
- Internet Advertising. . . is there any other kind these days? You will remember that ALL Licensee advertising is covered by the GREC Rules and Regulations. But the many info systems on the web — especially social media, syndicated contact systems, and YouTube — can lead to some lack of control of your messages. New rules will be coming out to clarify the same intent as the old rules: proper disclosure of the Listing Brokerage’s name and contact info MUST be on every ad for property or services, and Brokers must review all advertising. Ads MUST be removed when listings are sold or expire. Think before you Tweet.
Stay out of trouble.
Kathryne A. Pusch, Pres & Broker, ConsultKAP, Inc.Read More