Section 2 - Becoming a Real Estate Broker in FL

Question 1

Do you need a real estate license to rent lots in mobile home parks?

Answer 1

No.

Question 2

Services that require a real estate license

Answer 2

• Advertising
• Buying
• Appraising
• Renting
• Selling
• Auctioning
• Leasing
• Excahnging real property

Question 3

People that do not need a real estate license

Answer 3

• Selling own property
• Salaried employees not paid a commission
• Attorneys or CPA’s
• Cemetary lot salespeople
• Person renting lots in mobile home parks

Question 4

A licensee in another state with a mutual recognition agreement with Florida applies. What does she have to do?

Answer 4

Pass a Florida-specific 40 question exam

Question 5

How many years of experience do you have to have as a sales association to be a broker?

Answer 5

2 years

Question 6

What score does a candidate need to pass the broker exam?

Answer 6

75%

Question 7

What is the prelicensing education requirement for broker applicants?

Answer 7

72 hours

Question 8

Florida real estate license applicants must report what?

Answer 8

Convicted or found guilty of a crime

Question 9

How long is the 72 hour broker prelicensing course good for?

Answer 9

2 years

Question 10

How many questions are on the broker exam?

Answer 10

100 multiple choice questions

Question 11

How long do you have to wait to take the exam again if you fail?

Answer 11

30 days

Question 12

Mutual recognition agreement states

Answer 12

• Georgia
• Alabama
• Mississippi
• Arkansas
• Nebraska
• Illinois
• Connecticut
• Rhode Island

Question 13

What does a mutual recognition agreement candidate have to do?

Answer 13

• Have active real estate license in home state
• Show knowledge of FL real estate law by passing 40 question exam
• Exempt from prelicensing education course requirement
• Must do post-licensing continuing ed in FL

Question 14

Changing address or brokerage requirements

Answer 14

• Notify the DBPR within 10 days of address change (home or business address)

Question 15

Continuing education requirements

Answer 15

• 3 hours of core law
• 3 hours of business ethics
• Eight hours of specialty education

Question 16

Failure to complete continuing ed

Answer 16

• license becomes involuntarily inactive
• 12 months to complete CE requirement and pay fee
• If you don’t complete CE in 12 months, license stays involuntary inactive and then pass 28 hour reactivation education course

Question 16

Continuing education exam

Answer 16

Must pass every renewal period with 80% score.
Failing means taking the exam again

Question 17

Involuntary inactive license for 24 months becomes…

Answer 17

null and void

Question 18

What happens if brokers let their license become inactive?

Answer 18

All licensees at the brokerage have licenses placed in involuntary inactive status.

Question 19

Cindy’s license became involuntary inactive when she did not renew her license by the September 30 expiration date. How much time does she have to renew her license before it becomes null and void?

Answer 19

2 years

Question 20

Once brokers complete their post-licensing education and renew their licenses, how many hours of continuing education are required during each two-year renewal period?

Answer 20

14 hours

Question 21

Tim’s license is in voluntary inactive status and it’s time for renewal. What happens if he does not renew before the license expiration date?

Answer 21

License reverts to involuntary inactive status

Question 22

Nia took all her continuing education courses and got a 60% on her exam. What happens now?

Answer 22

She must repeat her continuing education courses and pass a different exam with a score of 80% or better.

Question 23

Florida broker’s post-licensing requirements?

Answer 23

Must complete 60 hours of post-licensing education before first renewal date

Question 24

What happens if someone doesn’t complete continuing education and waits longer than 2 years to complete it?

Answer 24

License becomes null and void

Question 25

How many hours of continuing education are “specialty education?”

Answer 25

8 hours

Question 26

Deadline dates for license renewal

Answer 26

March 31 or September 30.
It’s the date between 18 and 21 months from licensure

Question 27

Continuing education requirements for Voluntary Inactive Licenses

Answer 27

Must renew license every 24 months or it becomes involuntary inactive.
Returning to active requires 14 hours of continuing ed

Question 28

Reactivate an involuntary inactive license

Answer 28

28 hours of reactivation education within 2 years or it becomes null and void (must start over)

Question 29

Practicing real estaet without a license

Answer 29

third degree felony (5 years in prison and $5,000 fine)
Fines of $250 and $2,500 if no prior history
$1,000 to $5000 if you have history

Question 30

Multiple licenses

Answer 30

Required when broker wants to work for more than one brokerage
Only brokers can get multiple licenses

Question 31

Group Licenses

Answer 31

When sales associates and brokers sell properties for different entities as long as those companies are controlled by the same person