Unit 13: Florida License law Flashcards
Real Estate Broker Defined
Any person who for ANOTHER and for COMPENSATION provides a REAL ESTATE SERVICE
Real Estate Service
Doing or attempting to or offering any of the following related to an interest in real property (includeing mineral rights) business enterprice, or business opportunity.
MUST DO THIS STUFF UNDER A BROKERAGE FIRM
A BAR SALE
Advertise - Buy Appraise Rent Sell Auction Lease Exchange
Major Exception to who needs a license
Review page 295 & 6 in book
Advertising Rental property info or list
- Must operate under a brokerage
- If info inaccurate, 100% refund
- If they don’t find anything, 75% refund
- Demand for refund must be within 30 days from receipt
Group License means what/
- Owner developer ONLY
2. You can sell at any of their developments
Licensing Authority
DBPR - Division of Real Estate
Individual Sales Associate Licensing requirements
- 18 urs
- high school or GED
- Not guilty of losing a vocation license of any kind any where
- Ill Conduct that could cost you a license
- Criminal conduct
Pay App Fee
Pass Class
Pass Exam - Approval
Don’t need to be a resident or US citizen but DO need a social security number.
Activate License by
- Registering with Brokerage OR Developer Owner
They will register you with the DBPR
IF you’re under an Owner Developer
- They don’t have real estate license, sell their own property
- Commissioned staff must be licensed
- Group License
Under a Brokerage
- Licensed Broker registered as sole proprietership
- Qualifying Broker registered for an entity
Ostensible/Quasi
2 or more people give the impression that they are ar RE partnership.
Must be dissolved OR created as a ligitimate partnership
Advertising & Broker name
Brokerage firm must be listed on all advertising by sales associates registered to the firm
Business broker
Licensee who specialize in teh sale, purchase or lease of buisnesses
Legal Complaint
After a legally sufficient complaint has been filled and the DBPR has investigated it, the next step is to determine probable cause.
Daily per diem for FREC members receive for each day they participate in FREC meetings
$50
A resident sales associate who wants non-resident licensce status must
file an irrovocable consent to service to servicewithing 60 days of the change in residency
A broker who requests that FREC settle the escrow dispute,
they need to tell FREC within 10 days if it gets resolved
A salaried employee of an on site rental apartment complex who gets a signing bonus for each new tenant must_____________
BE LISCENCED under FL statute 475
Reciprocity
FL does not have it
Mutual Recognition
8 states
Take the state portion of the test
