Unit 2 Key Terms Flashcards
Broker
An individual or business entity licensed by the DBPR to perform Services of real estate for others for compensation
broker associate
an individual who is qualified to be issued a broker’s license but who operates as a sales associate and employee of another
Compensation
anything of value or a valuable consideration directly or directly paid promised or expected to be paid or received
Expungement
a process by which the record of a criminal conviction is destroyed or sealed after expiration of time
Florida resident
For application and Licensing purposes, a person who has resided in Florida continuously for four counter months or more within the preceding year.
License
A privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of timeshare interest.
Mutual recognition agreement
a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education
Nolo contendere/no contest
A pleading of no contest by defendant; a plea and a criminal action not admitting guilt but subjecting defendant to punishment as though it were a guilty plea.
owner-developer
An unlicensed entity that sells, exchanges, or leases its own property.
Prima facie evidence
Requiring no further proof; acceptable on the face of.
Real Estate Services
Real estate activities involving compensation for performing the activities for another.
Reciprocity
The practice of mutual exchanges of privileges. Some states have reciprocal agreements for recognizing and granting licenses to licensed real estate professionals from other states.
Registration
Authorization by the state to place an application on the register (record) of officially recognized individuals and businesses.
sales associate
A licensed individual who, for compensation, is employed by a broker or owner developer.
sealed
statutes and some states permit a person’s criminal record to be sealed, and thereafter such records cannot be examined except by order of the court or by designated officials.
withhold adjudication
When the court determines that a defendant has not likely to again engage in a criminal act and that the ends of Justice in the welfare of society do not require that the defendants suffer the penalty imposed by law, the court May withhold adjudication of guilt, stay or stop the imposition of the sentence, and place the defendant on probation.
An individual or business entity licensed by the DBPR to perform Services of real estate for others for compensation
Broker
an individual who is qualified to be issued a broker’s license but who operates as a sales associate and employee of another
broker associate
anything of value or a valuable consideration directly or directly paid promised or expected to be paid or received
Compensation
a process by which the record of a criminal conviction is destroyed or sealed after expiration of time
Expungement
For application and Licensing purposes, a person who has resided in Florida continuously for four counter months or more within the preceding year.
Florida resident
A privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of timeshare interest.
License
a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education
Mutual recognition agreement
A pleading of no contest by defendant; a plea and a criminal action not admitting guilt but subjecting defendant to punishment as though it were a guilty plea.
Nolo contendere/no contest
An unlicensed entity that sells, exchanges, or leases its own property.
owner-developer
Requiring no further proof; acceptable on the face of.
Prima facie evidence
Real estate activities involving compensation for performing the activities for another.
Real Estate Services
The practice of mutual exchanges of privileges. Some states have reciprocal agreements for recognizing and granting licenses to licensed real estate professionals from other states.
Reciprocity
Authorization by the state to place an application on the register (record) of officially recognized individuals and businesses.
Registration
A licensed individual who, for compensation, is employed by a broker or owner developer.
sales associate
statutes and some states permit a person’s criminal record to be sealed, and thereafter such records cannot be examined except by order of the court or by designated officials.
sealed
When the court determines that a defendant has not likely to again engage in a criminal act and that the ends of Justice in the welfare of society do not require that the defendants suffer the penalty imposed by law, the court May withhold adjudication of guilt, stay or stop the imposition of the sentence, and place the defendant on probation.
withhold adjudication
