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Question 1

I am interested in becoming licensed to sell real estate.

Where do I begin?

Answer 1

Apply to the Florida Real Estate Commission in your state.

Question 2

What is the
Florida Real Estate Commission?

Answer 2

The Florida Real Estate Commission is a state government agency that issues licenses to those who wish to sell or lease real estate belonging to others. In many states, a property manager is required to hold a real estate license. The Commission decides on the requirements for the license and may administer examinations to determine who is qualified to be licensed.

Question 3

What is the composition of the Florida Real Estate Commission?

Answer 3

(4) Real Estate Brokers
(1) Real Estate Agent
(2) Have never been an Agent or or Broker.

Question 4

Who is the Real Estate
Commissioner, and what duties does he or she perform?

Answer 4

The Commissioner is the head administrator of the Real Estate Commission, which has a staff that carries out its functions.

1. maintaining records of licensees
2. processing applications
3. administering examinations
4. processing complaints from the public.

Question 5

What functions does the Real Estate Commission perform?

Answer 5

Three of its functions are:
• Setting requirements for licensing of brokers and salespersons.
• Setting rules and regulations regarding the conduct of licensees.
• Disciplining those whose conduct violates rules and regulations.

Question 6

Must I be licensed to sell or lease my own property?

Answer 6

No. A license is required only to sell, to lease, or, in many states, to manage property belonging to others.

Question 7

What types of real estate licenses are there?

Answer 7

• Broker
• Broker Associate
• Salesperson (also known as salesman or sales associate
• Inactive
• Appraiser (must be licensed or certified)
• Home Inspector (must be licensed in most states)

Question 8

Are any publications available from the Real Estate
Commission?

Answer 8

Yes. Almost every state Real Estate Commission publishes its Rules and Regulations. Most publish a guide for new applicants and forms for license applications. Some publish exam study materials. You can usually download these free or mail a check to request a hard copy. For publications available from your specific state’s Real Estate Commission, check the Commission’s website.

Question 9

What is a broker?

Answer 9

A broker is a person who acts on behalf of property owners in a real estate transactions as a special agent.

Question 10

What is a broker associate or associate broker?

Answer 10

In some states, a licensed broker whose license is held by another broker is referred to as a broker associate or associate broker.
In most states, a broker’s branch offices must be staffed by a broker associate.

Question 11

What is a salesperson?

Answer 11

A person who is licensed to deal in real estate as a subagent under the sponsorship of a broker licensed by the state.

Question 12

What is a sales associate?

Answer 12

Sales associate is the term used in some states instead of salesman or salesperson.
For example, Betty took a job as a sales associate with the Suburban Realty Company in Florida immediately after she received her real estate license.

Question 13

What is required to become a licensed salesperson?

Answer 13

Requirements vary from state to state but may include criteria based on:
• Age of 18
• Citizenship of USA
• Resident of Florida
• Education 63 Credit hours
• Examination with pass grade
• Absence of criminal record (conviction for certain crimes will disqualify)
• Broker sponsorship

Question 14

What are some topics of questions on the salesperson examination?

Answer 14

Topics include:
• State licensing law
• Brokerage law
• Real estate law
• Contracts
• Deeds, estates, titles
• Joint ownership forms
• Land descriptions
• Real estate finance and investment
• Fair Housing law
• Appraisal
• Mathematics

Question 15

On the license exam, do they ask any questions on salesmanship? Doesn’t being a successful salesperson depend on market knowledge, personality, who you know, and how persuasive you are?

Answer 15

No. The purpose of licensing is to protect the general public. Licensing requires knowledge of real estate law and licensing law and an understanding of ethical conduct, property valuation, financing, and arithmetic.
Similarly, hairstylists are licensed to protect the public from spreading disease, such as lice, not for knowledge of cutting or styling.

Question 16

How is a salesperson compensated?

Answer 16

A salesperson is compensated through the sponsoring broker. Only a broker can receive a commission from a sale. The broker can share the commission with other brokers and with the licensed salesperson(s) he or she sponsors who assisted with the transaction.
Most salespersons are independent contractors, not employees, for income tax purposes.

Question 17

What do I have to do to be licensed as a broker?

Answer 17

• You must have two to three years of active experience as a salesperson.
• You must pass a more difficult and comprehensive examination.

Question 18

What is a branch office?

Answer 18

A branch office is a place of operation for a real estate firm that is separate from the main office.

Question 19

What is a principal broker?

Answer 19

A principal broker is the licensed broker responsible for the operations conducted by the entire brokerage firm. This broker is responsible for the acts of associate brokers and sponsored salespersons or sales associates.

Question 20

When I become licensed, what identification will I have?

Answer 20

A licensed broker or salesperson usually receives a certificate to display on the wall of his or her broker’s office and a pocket card to carry as identification.

Question 21

What is a real estate license?

Answer 21

A real estate license is a right granted by a state to an individual to operate as a real estate broker or salesperson; the individual who receives a license is called a licensee.

Question 22

What is a pocket card?

Answer 22

A pocket card identifies its holder as a licensee.

It must be carried at all times.

Question 23

What is a disciplinary action?

Answer 23

A disciplinary action is a punishment imposed by the Florida Real Estate
Commission after investigating a complaint against a licensee and conducting a hearing.

Such an action could have serious consequences for the licensee, such as revocation or suspension of the license.

Question 24

What is the meaning of revocation?

Answer 24

Revocation is an act of recalling a power of authority conferred, such as a power of attorney, a license, or an agency.
For example, if a broker’s license is revoked, this revocation will prevent him or her from participating in the real estate brokerage business.

Question 25

What behavior could bring about a disciplinary action against a salesperson or broker?

Answer 25

Acts that may result in disciplinary action include:
• Commingling (mixing) other’s money with one’s own
• Not remitting funds quickly
• False advertising
• Misleading someone
• Acting for more than one party in a transaction without disclosure
• Not identifying oneself as a licensee
• Taking or giving fees illegally
• Guaranteeing future profits
• Not following instructions that would be legal from the principal
• Discrimination against protected groups
• Violating the state license act
• Conviction for certain crimes