Chapter 2 Flashcards
The first Florida Real Estate Law passed in 1923. The first Florida Real Estate Commission passed on
1926 and it was primarily to protect the public.
The Florida Department of Business and Professional Regulation (DBPR)
is a $1.5 billion agency regulating one million professionals and businesses across some 200 licensee categories
ensure that professions and businesses provide quality services for the health, safety and welfare of citizens and visitors in the great state of Florida
Within the DBPR is the Division of Real Estate (DRE)
The DRE is mandated to protect the public by regulating real estate and appraisal licensees
The DRE is also responsible for the examination, licensing and regulation of over a quarter of a million individuals, corporations, real estate schools and instructors.
Another function of the division is to verify the integrity of real estate salespersons and brokers by providing investigation and support to areas of complaints by consumers and other professionals as needed
The Florida Real Estate Commission (FREC) is
the enforcer of real estate rules and discipline. Members are appointed by the Governor with a primary purpose to protect the consumer
Caveat Emptor
means the let the buyer be aware
Real Estate license categories
Sales Associate: A person who provides real estate services for another, for compensation under the direction, control and management of a broker.
Broker: A person who provides real estate services for another, for compensation.Both must be licensed to perform these services.
Broker Associate: Is a licensed broker who chooses to work as a sales associate under the direction of another broker.
Remember: A sales associate or a broker associate must always operate under the direction and guidance of a broker.
