Section 5 Review Flashcards
Each real estate brokerage must open and register a brokerage office with who?
DBPR
To physically qualify as an office, the location need only have what?
at least one enclosed room in a building of stationary construction.
FREC has a right to require the broker to register that location as a branch office and pay associated fees if?
Broker is giving the appearance that a location is a real estate office
Prior to registering an out-of-state office or branch office, the broker must first?
agree in writing to cooperate with any investigation by the DBPR, DRE, or FREC
Sales associates must be registered and work under direction and control of?
broker’s office or branch office.
A broker associate or sales associate can register as?
Individual/professional corporation (P.A.)
Limited liability company (LLC)
professional limited liability company (PLLC)
A broker associate or sales associate is not permitted to register or be licensed as?
general partner (GP) member (M) manager (M) officer (O) director of a brokerage firm (DBF)
Brokers must maintain a noticeable easy to read sign at the entrance of the principal office and branch offices. What 3 things must these signs contain?
Name of the broker
Business Name.
the words “licensed real estate broker” or “lic. real estate broker”
what is not deemed to be a branch office?
A mere temporary shelter where transactions are not closed and salespersons are not permanently assigned
If the name that is advertised is a trade name rather than the legal name of the broker, then that name must be registered with?
the Department of Business and Professional Regulation.
what is blind advertising?
unclear that a real estate brokerage is involved, and the real estate broker is not clearly identified. This is illegal
Licensees, that include their name in advertisements must also include what?
their last name exactly as it is registered with the DBPR.
False, deceptive, or misleading information in advertisements for real estate is illegal and is what kind of crime?
second-degree misdemeanor.
All internet advertisements must include what?
Brokerage name positioned adjacent to or immediately above or below the point of contact information.
if the licensee includes contact information in print advertisement the licensee must clearly indicate what?
that the contact information is for the licensee rather than the broker.
Faxes may only be sent to recipients for which the brokerage has an established business relationship. The fax number should have been provided voluntarily by the recipient for the purpose of receiving faxes. They must also contain what?
Clearly stated opt-out procedures. Requests for opt-outs must be honored within 30 days.
The Dept. of Agriculture & Consumer Services maintains what?
Florida’s Do Not Call Registry.
Can a Licensees contact a For-sale-by-owner that is on the Florida Do Not Call Registry for the purpose of soliciting a listing?
YES
The fine for contacting someone on the FloridaDo Not Call Registry is?
$10,000 per infraction.
Federal law prohibits for-sale-by-owners from being contacted if they are on the ?
Federal Do Not Call Registry for the purpose of soliciting a listing.
Fines are up to $_____ per call for breaking the Federal Do Not Call Registry.
$16,000
Per the Telephone Consumer Protection Act of 1991, brokerages must maintain company wide Do Not Call lists of consumers who have asked not to be called for how long?
five years
TCPA limits sales callsto residences to between what times?
8 a.m. and 9 p.m., local time.
A brokerage with which a consumer has an established business relationship may call for up to ___ months after the consumer’s last purchase or last delivery, or last payment.
18
If a consumer makes an inquiry or submits an application to the brokerage, all licensees within the brokerage may call the consumer for up to __ months.
3 months
Per Florida statute, an escrow account must be held where?
title company having trust powers, bank, credit union or trust company, or a savings and loan association within the State of Florida.
Earnest money is not to be deposited where?
into a broker’s general operating account.
A real estate licensee who has been given an escrow deposit must deliver the deposit to the licensee’s broker by ____
the end of the next business day,