3. Real Estate License Law and Commission Rules Flashcards

• Real Estate License Law and Commission Rules Flashcards

FREC executive power to enforce and regulate real estate license law

• Quasi-legislative- Quasi-judicial

The Commission is composed of seven members - FOUR members must be licensed brokers, licensed for at least 5 years preceding appointment- ONE member may be a broker or sales associate but must have held an active real estate license for two years preceding the appointment.- TWO members must be consumers who have never held a real estate license.- One of the members must be 60 years of age or OLDER.

• The Division of Regulationis the enforcement authority for the professional boards

and programs.It monitors those professions and related businesses to ensure that the laws, rules and standards set by the Legislature and professional boards are followed.This is accomplished by proactively monitoring the professionals and related businesses; investigating complaints of wrongdoing; utilizing compliance mechanisms such as notices of noncompliance and citations; and the performance of statutorily mandated inspections.Five Executive Directors oversee the professional boards. The Board Executive Director serves as a liaison between the board and the department and is responsible for ensuring the effective operation of board meetings and board business Licenses:Licensing of Broker and Sales AssociatesMultiple Licenses:

License Renewal Period:- license renewal period is every TWO years, with the

exception of the first license period.- Real estate licenses are renewed by DBPR, only, on'' March 31st and September 30th ''- The first license period must be at least 18 months and not exceed 24 months.If a license was obtained in May of 2007, that license would renew by March 31st of 2009. September of 2009 would exceed the two-year time frame. A renewal notice will be sent to the last known address of the licensee 90 days prior to the expiration date.No licensee can conduct real estate without renewing his license. Conducting real estate after the expiration date without renewing the license is a violation of license law.Quasi-judicialin the power to impose disciplinary actions.Applicants may be denied licenses and licensees may be reprimanded, fined, placed on probation, suspended for up to ten years or the licenses revoked.

Military Exemption from Licensee Renewal A licensee who enters military service has his licensee fees and educational requirements waived during the period of service and for 6 months following return to civilian life.The spouse of military personnel can also have fees and educational requirements waived during the period of enlistment and for 6 months after returning to civilian life.Both may practice real estate for those six months but must complete those requirements within that six month window.Any subsequent renewal after the first renewal requires continuing education.A sales associate or broker must take 14 hours of continuing education prior to renewal.Continuing education must consist of 11 hours of specialty education and three (3) hours of core law.The course/s may be taken by live instruction, by internet, or correspondence.Failure to complete continuing education in the prescribed time will result in the licensee becoming INVOLUNTARY INACTIVE.Licensing ExaminationsThe Bureau of Education and Testing is charged with the responsibility of HOLDING EXAMINATION fro sales associates and broker's licenses.They are also responsible for setting the rules and procedures for such an examination.The Meaning of Licensing- Effective- Void- Ceases to be in force (bring or come to an end) To keep a license active (current) and in place, a licensee

must do the following: SALE ASSOCIATE

• If it is the first time that the licensee is renewing a sales

associate's license, it will be necessary to take a POST LICENSE course prior to renewal.The course is 45 classroom hours or its equivalent online and a FAILURE to take this course will result in the license becoming NULL and VOID.The term null and void means the license NEVER EXISTED. If the license becomes null and void, the individual must meet all pre-license requirements and retake courses and state required exams again.A license is VOIDwhen it ceases to exist due to non-renewal, nonpayment of fees, DBPRThe Department of Business and Professional Regulation is a department in the EXECUTIVE branch of Florida State Government.The Department is administered by the Secretary of the Department who is APPOINTED BY GOVERNOR, subject to confirmation by the Senate.The PURPOSE of the Department, as it is called, is to operate as a consumer PROTECTION agency

Multiple Licenses:A Multiple license can exist if a broker has business of such

a nature that more than one broker's license is needed for legitimate business purposes and not be harmful to the public.A broker can have multiple brokers' licenses if he manages more than one brokerage firm. Any request for a

multiple license by a broker will must be justified as necessary to the broker's business. Any sales associates under a broker's license are the responsibility of the broker to supervise and control.A broker can NEVER be licensed as either a sales associate or a broker associate at the same time he holds a broker's license.

• The Division of Professionsis responsible for the licensing of over 396,000

professionals.Five Executive Directors oversee the professional boards. The Board Executive Director serves as a liaison between the board and the department and is

responsible for ensuring the effective operation of board meetings and board business.Who handle who?- DPBR: handles the ACTUAL licensing;- DIVISION: of real

estate ACCEPTS the application.- FREC: CERTIFIES the

applicant once the requirements are met.