Which of the following statements about GREC's licensing authority is accurate?

The statement that GREC can revoke both individual and firm licenses is accurate because the Georgia Real Estate Commission (GREC) holds the authority to regulate the real estate industry in Georgia, including the ability to issue, suspend, or revoke licenses for both individuals (individual real estate agents) and firms (brokerage entities). This authority is critical for maintaining the integrity of the real estate market and ensuring that licensees comply with relevant laws and ethical standards.

GREC's licensing authority is designed to protect the public by ensuring that all real estate professionals meet specific qualifications and follow established regulations. When necessary, revocation of licenses can be implemented as a disciplinary measure for violations such as fraud, unethical behavior, or failure to comply with licensing laws.

The other answer choices present scenarios that do not align with GREC's established powers. For example, the idea that GREC cannot revoke firm licenses is incorrect, as the commission has the authority to take action against both individual and firm licenses. Additionally, the notion that GREC can grant only firm licenses or no licenses at all misrepresents the commission's comprehensive role in overseeing real estate practices in Georgia.