Farming – Answer licensee concentrate on one type or style of property or on one
particular neighborhood
Farm area or target market – Answer Finding and specializing in a particular
neighborhood or type of property. Considered to be one of the best ways to succeed
in the real estate business
Tract building – Answer When a developer acquires a large tract of land, records a
subdivision plat map, and uses a model center from which sales may be made
Local level – Answer Government Regulation:
At the local level, planning and zoning, property taxation, building, and health codes
and regulations, and building moratoriums that affect development, play a significant
role in the cost and desirability of real estate
Purpose of the law – Answer F.S. 475 to protect the public
Commission or FREC – Answer Refers to the Florida real estate commission
Department or DBPR – Answer Refers to the department of business and
professional regulation
Division or DRE – Answer Refers to the division of real estate
License – Answer Means any permit, registration, certificate, or license issued by the
department
Licensee – Answer Refers to any person to whom a permit, registration, certificate or
license is issued by the department
A BAR SALE – Answer The most common services of real estate:
Appraising
Buying
Auctioning
Renting
Selling
Advertising
Leasing
Exchanging
Sales associate – Answer Must be employed by a real estate broker or owner
developer to practice real estate<\/p>\n\n\n\n
*must complete all pre license requirements to obtain their initial license as a sales
associate
Broker – Answer A person who performs services of real estate as an agent for
another and receives compensation for those services either directly or indirectly
A Sales Associate transitioning to a Broker – Answer Must have been employed
under one or more actively licensed brokers for at least 24 months writhing the last 5
yrs before becoming eligible to take the state broker examination
Additional applicants who qualify to apply for a brokers license [F.A.C.61J2-2.027(1)
(b)] – Answer Actively licensed real estate sales associates from another STATE OR
NATION who have been Licensed for at least 24 months during the preceding 5 yrs
Broker Associate – Answer Someone who is qualified to receive a broker license but
chooses instead to be employed under the direction, control and management of an
actively licensed broker or owner developer.
In this capacity the broker acts as a sales associate NOT as a broker
Florida real estate license requirements – Answer An applicant for a Florida real
estate license requirements is NOT required to be a resident of the state of Florida,
or to be a citizen of the United States
Florida Mutual recognition – Answer Florida has entered into “Contractual
agreements” with 7 states that recognize the similarity in the content of their mutual
education and experience requirements for real estate licensing.
Alabama
Arkansas
Connecticut
Georgia
Mississippi
Illinois
Nebraska
Form #1 DBPR RE 1
“Have you ever been convicted or found guilty of, or entered a plea of Nolo
contendere (no contest) or guilty to, regardless of adjudication, a crime in any
jurisdiction, or are you currently under criminal investigation?”
The question further defines which offenses are covered – Answer For practical
purposes, this question requires the disclosure of any criminal convictions, including
felony or misdemeanor convictions or pleas ( other than minor traffic offenses).
DUI is not a minor traffic offense and must be disclosed
Application Denial – Answer If an application to take state exam is denied, the
applicant will be notified in writing.<\/p>\n\n\n\n
The notification will identify the reasons for denial and advise the applicant they they
have 21 days from the date of receipt to request a formal hearing before an
administrative law judge
Compensating broker or sales associate – Answer Florida real estate license law
requires a sales or broker associate to be employed as an agent of either a broker or
owner developer before performing real estate services for compensation.
They may NOT be directly compensated for real estate services by a member of the
public.
Only their employing broker or owner developer
Employment by owner developer – Answer The owner developer must register with
the department but does not receive a real estate license
Post licensing course – Answer All licensees, whether active or inactive, must
satisfactorily complete a Commission prescribed post licensing course before the
first renewal expiration date, following initial licensure.
Sales associate first renewal – Answer Sales associate must complete a 45 hour
post license course.
Failure to complete this requirement will result in licensee being out of business and
voided license
Continuing education – Answer All licensees active or inactive, broker or sales
assoc., must complete 14 hrs of commission approved continuing education and pay
a renewal fee during each license renewal period, excluding the first renewal period
of their current license.
If CE requirements are no met within the renewal deadline, the licensees license will
be changed to INVOLUNTARY INACTIVE
CE courses may be completed by classroom or distance learning(online)
Attorney-in-fact – Answer Persons who are granted authority under a power of
attorney to act for others in some capacity, such as signing documents
Salaried employees – Answer Of an owner, or of a registered broker for an owner, of
an apartment community who work in an onsite rental office of the apartment
community in a leasing capacity
Powers of the “Department or DBPR” – Answer The department does not have the
authority to issue injunctions against unlicensed persons, but may seek an injunction
from the courts for failure to follow a department order.
The department also has the power to issue a cease and desist order against an
unlicensed party for violation of any rule or law under its administration<\/p>\n\n\n\n
Executive powers – Answer Can be exercised by the chairperson acting alone or can
be delegated by quorum vote to any other commission member
Quasi judicial powers – Answer Allow the commission to impose disciplinary action
for violations of laws and rules. Similar to the actions of a court of law.
The commission has the authority to deny an application, and to reprimand , fine, or
place a licensee on pro a Tiod, or suspend or revoke a license
A guilty licensee – Answer May receive one of the following disciplinary actions
Issued a reprimand or admin. fine up to $5,000 per offense
Be placed on probation
Or Have their license suspended for up to ten years or permanently revoked
Subsequent renewal – Answer 14 hr CE
Failure to do so results in null and Void license
The licensee may not practice real estate while his or her license is involuntary
inactive.
The license can remain in this statutes for up to two years
Voluntary inactive – Answer Individual who had attained their license but does not
wish to engage actively in real estate can request a voluntary inactive.
May remain In this status indefinitely
Suspended brokers license – Answer Suspended, revoked, or otherwise void or
ineffective brokers license results in all persons license who are employed under
such broker to become automatically inactive
Cancelled licensed – Answer If a licensee no longer wishes to practice real estate,
they can return their license to the department. The license would be\u2026
Group license – Answer A single real estate license that can be obtained if the sales
associate or broker associate works for one owner developer with affiliated
organizations, which provides real estate services in different geographic areas
Multiple licenses – Answer A broker can be issued additional licenses in two or more
capacities by requesting\u2026
NOT available to sales associates or broker associates
*broker cannot own stock in any of the corporations
Examples of administrative agencies empowered by statutes – Answer Statutes can
authorize the creation and operation of administrative agencies to administer and
enforce certain laws.
The DBPR created by F.S. 455
FREC created by F.S. 475
are examples.<\/p>\n","protected":false},"excerpt":{"rendered":"
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