Unit 2 Real Estate Law and Qualifications for Licensure Flashcards
Chapter 20 Florida Statute
Governs:Executive Branch of FL government
Chapter 475, Part 1, FL Statute
Governs:Real Estate Broker, Sales associates and schools
Chapter 455, Fl Statute
Dept. of Business and Professional Regulations and the professions under the department
Chapter 120 Florida Administrative Code
Procedural process for all governmental entities authorized under the FL Constitution
Chapter 61J2, Fl Administrative Code
Florida Real Estate Commision rules
List the 3 categories of real estate licenses
Sales associate
Broker
broker associate
In what year does the FL legislature passed the real estate License Law Chapter 475 of the FL statutes
1923
In what year does the FL legislature created the FL Real Estate Commission to administer and enforce the license law?
1925
DRE
Division of Real Estate
DBPR
Department of Business and Professional Regulation (DBPR)
performs real estate services for compensation under the direction, control or management of broker or an owner- developer
Sales associate
Broker
A person who, for another and for compensation or other consideration performs real estate services.
broker associate
hold a brokers license but chooses to register and work in real estate under the direction of another broker.
owner developer
unlicensed entity that sells, exchanges or leases its own property
The DBPR exempts what 3 categories of applicants from the initial licencing fee for a professional license.
Low income applicants
Military personnel & spouses
Military veterans and spouses
To become a sales associate, applicant must complete:
63 hours pre license course with a score of 70
DBPR licence application, fingerprints submission, background check inf, affidavit of honesty, initial license and application fee payment and pass state license exam, with a score of at least 75
What are the Requirement to apply to become a sales associate
Be at least 18 yrs and have a high school diploma
Possess US Social security number
(Applicant does not need a FL residency or US citizenship)
What does the sale associate and broker need to do before the initial license expires?
sales ass: must complete 45 hours post licensing course
broker: Need to complete a 60 hours post licencing course.
Licences of the sales associate or broker becomes null and void when?
not completing required course and let licensed expire
How many hours for continue education and what course does include to all real estate licensees
14 hours of Con. ED
including 3 hours of business Code of Ethics course
3 hours of core law course
Compensation
anything of valued paid or promised to be paid to an individual for performing any services for another.
A broker applicant must have held an active real estate license for at least (____ _____) during the preceding _____ ______.
24 months
5 years
prima facie evidence
requiring no further proof; aceptable on the face of.
a real estate license serves as prima facie evidence that the person named on the license possesses a current and valid license
Which info is included on the face of the real estate license
Licensee's full name and address Name of the secretary of the DBPR License type Expiration date effective date name of governor License number
Mention the Real Estate Services
A
BAR
SALE
Advertise real estate services Buy Appraise Rent or provide real inf or list sell Auction Lease Exchange
EXEMPTIONS OF REAL ESTATE: Who is exempted by law/ the 5 groups are:
Owner exceptions Exemption base on career Salaried employed exceptions Court and legally appointed persons Miscellaneous exemptions
