Question

Under Georgia code, a brokerage engagement would be which of the following?"

a) A written or oral brokerage agreement with a client involving real estate services for valuable consideration.
b) An oral agreement between broker and client creating a fiduciary relationship involving real estate services for compensation.
c) Payment of compensation to a broker by a seller implying the existence of an agency relationship.
d) A written brokerage agreement with a client involving real estate services for valuable consideration.

Answer 1

A brokerage engagement under Georgia code is a written or oral agreement with a client involving real estate services for valuable consideration, making option a the correct answer. The correct option is A.

Step-by-step explanation:

Under Georgia code, a brokerage engagement would be characterized as a written or oral brokerage agreement with a client involving real estate services for valuable consideration. This means that the correct answer to the question is (a) A written or oral brokerage agreement with a client involving real estate services for valuable consideration.

It's important to understand that such engagements can be established through formal written agreements, or through oral agreements, which are less common and can present challenges in enforcing the terms.

These engagements must include provisions for compensation or valuable consideration to the broker for the real estate services provided. However, a mere payment of compensation to a broker by a seller, as mentioned in option c, does not necessarily imply the existence of a formal agency relationship without an agreement.