has to take 40 question FL specific examconsidered FL

Section 2: Real Estate Law and Licensure Qualifications, Azure Tide

Realty Flashcards Mutual Recognitionnot reciprocity-AL, ARK, CN, GA, IL, Missi, Nebr, RIonly has to take 40 question FL specific examconsidered FL resident if in FL for 4 months Real estate license exemptions4 year degree in real estate-exempt from 63&72 hours must pass exams and continuing edLawyer-exempt from 63, must take 72, pass exams and continuing ed broker associatebroker associate qualifies for licensure as a broker, however, chooses to work under the direction of a broker.Real estate license requirements18 years oldhigh school diploma or equivalenthonest, trustworthy, good moral charactersocial security numbercompetent and qualified license/registrationLicensure is generally issued at the state level and is a mandatory credentialing process that allows an individual to legally perform certain skills. As dictated by law, there is usually a requirement to pass certain tests and exhibit the ability to perform certain skills.caveat emptorRefers to the time prior to licensing laws when all risk and responsibility was on the buyer, known as "Let the buyer beware." chapter 120covers the procedural process for all governmental agencies in Florida chapter 475Governs real estate brokers, sales associates, and schools.Broker Qualificationsmust have spent 2/5 of last years as a active real estate licensepass brokers course 70% Real Estate License Renewal18-24 months after first license must take a 45 hour courseafter that must take 14 hours of continuing ed (3 core law, 3 ethics)if up to 12 months past may to 14 hours to renewif up to 24 months past must pass 28 hours to renew Department of Business and Professional Regulation

(DBPR)

implement policies and oversees professional regulationsdoes not have to be a US Citizenhas discipline proceduresyou have 30 days to respond Real Estate Professions ActChapter 475 coversBrokersAppraisersCommercial SalesCommercial Leasing prima facie evidenceLatin meaning "at first sight"; on the first appearance; on the face of it; so far as can be judged from the first disclosure; presumably.Division of Real Estate (DRE)supports the Commission (FREC). under the Dept. of Business & Professional Regulation (DBPR) adjudication withheldmeans that instead of actually having been found guilty by a judge, a person is put on probation.

CompensationThe term "compensation" includes monetary compensation as well as valuable consideration, which includes benefits other than cash or tangible goods.Real estate license timelinestate has 30 days to notify of errors or omissionsDBPR has 90 days to approve or denyapplicant has 2 years to pass examinationif denied can ask for informal hearing or has 21 days to file a petition Florida Real Estate Commission (FREC)The Florida Legislature created this organization to administer and enforce license law, authority to keep records, conduct investigations, and the power to grant, deny, suspend, and revoke licenses.Real Estate Activityadvertising, buying, selling, exchanging, renting, leasing or appraising Registrationindicates that a person whose name is listed on an official record or register has met certain requirements in their particular profession. The registry list of names can then be accessed to determine if a potential employee has met certain requirements.

real estate servicesinclude: Buying, Selling, Auctioning, Exchanging, Renting,

Leasing, Appraising property or business as a non-appraiser (BPO). sales associate Brokerreal estate broker has continued his or her education past the real estate agent level and passed the real estate broker licensing requirements per the rules of Statute 475.Real estate brokers can work as independent real estate agents and may have other agents working for them.Real estate license disclosure requirements aliasescriminal historylicense declined or disciplineany misconduct must be reported in 30 days Real estate sales associatesare licensed and registered by the DBPR to work under the direction of a broker. They are employed by the broker and receive compensation from the broker. sealing vs.expungement A sealed record is simply hidden from the public by designating it as non-public. An expunged record is physically removed so that the record no longer exists.nolo contendere / no contestis a Latin term meaning "I will not contest" the charges, which is a plea made by a defendant to a criminal charge, allowing the judge to then find him/her guilty. It has the same effect as a plea of guilty.FREC The Florida Real Estate Commissionis made up of 7 members: 4 brokers, 1 broker OR associate with 2 proceeding years' experience, 2 unlicensed members. The FREC was created in order to implement, interpret ,and enforce the provisions of Chapter 475.Florida residentA person who has resided in Florida continuously for a period of four calendar months or more within the

preceding year is considered to be a Florida Resident.