Gold Coast FINAL EXAM STUDY SET (Questions and Answers, 100% Verified)

Gold Coast FINAL EXAM STUDY SET for 4/11 Gold Coast FINAL EXAM STUDY SET (Questions and Answers, 100% Verified) what are the the areas a realtor should be an expert in? Marketing Valuation & Market Conditions Property Transfer "MVP" Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license? to get a FL real estate license, you don't need to be a citizen What must an applicant for a real estate license do if he has been convicted of a crime? must disclose all convictions Employment an associate can only have one employer at a time What's the grace period for a Sales associate's first renewal? Post Licensing no grace period, void and null Individuals who are exempt from licensure Salaried Employees How long can one stay involuntary inactive? 2 years What happens to an associates license if a broker's license is void, suspended, or revoked? their license automatically becomes inactive Multiple Licenses issued only to active brokers if it is clearly shown that such additional licenses are necessary to the conduct of legitimate business What is a Transaction broker a broker who provides limited representation to a buyer, seller, or both, in a real estate transaction not an AGENT Presenting Offers must present all offers A broker is entitled to compensation if they... bring a buyer who brings an offer the seller was looking for Listing Contract broker's employment contract that states the terms and conditions that the broker must meet to become eligible for compensation Referral Fees: I as the sellers agent promise kickback commission. Is this allowed? yes, as long as this is disclosed to all interested parties what if an attorney asks for a fee because they referred a client to you? you cannot give him a referral fee for sending you a client Principal Brokerage office -registration is good for 2 years -can switch locations branch brokerage office -registration is good for 2 years -cannot move locations if not the principal location... in order to move it would need a new registration for the new location and must pays fees associated with it What are the requirements for a Principal Office? -at least one enclosed room in a building of stationary construction -must maintain documents for a minimum of 5 years What are the requirements for an associate advertising with a website?