Real Estate Gold Coast test

Real Estate Gold Coast test Prorating Rent - paid in advance monthly rent collected by the seller for the month must be divided between seller and buyer Areas of expert knowledge required for all real estate licensees? - 1. Property Transfer 2. Valuation 3. Marketing (Not accounting or construction) Real estate licensees can perform valuations under the real estate license law if the valuation is not to be used _________. - in a federally related transation real estate licensees usually prepare... - CMAs or give a BPO. They do NOT perform appraisals Does Florida have a reciprocity with any other state with regard to real estate licensing? - No, but they do have mutual recognition what is question 1 on the background questions for the application for sales associate license - asks if you have ever been convicted or found guilty of, or entered a plea of nolo contender (no contest) or guilty to, regardless of adjudication, a crime in any jurisdiction, or are you currently under criminal investigation Application Denial - If an application to take the state exam is denied by the Department, the applicant will be notified in writing. The notification will identify the reasons for denial and advise the applicant that he or she has 21 days from the date of receipt to request a formal hearing before an administrative law judge in accordance with F.S. 120, The Administrative Procedure Act The law requires sales associates or broker associates to be .. - employed as an agent of either a broker or an owner developer sales associates and broker associates can ONLY be compensated by? - their employing broker or owner-developer Employment by an owner-developer - - individual who is in the businesses of buying, owning, or developing real estate -The owner developer must register with the department but does not receive a real estate license Who can owner-developers hire? - -They can hire unlicensed sales persons to sell property they own, as long as the sales persons are PAID A SALARY. -If they pay commissions or transaction based fees, they MUST hire licensed sales associates or broker associates CH.2 - 1919 1925 - California enacted first real estate license law FREC was created CONTINUES...