course exam prep (GOLD COAST
HIGHLIGHTS)
Farming - ANSlicensee concentrate on one type or style of property or on one particular
neighborhood
Farm area or target market - ANSFinding 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 - ANSWhen 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 - ANSGovernment 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 - ANSF.S. 475 to protect the public
Commission or FREC - ANSRefers to the Florida real estate commission
Department or DBPR - ANSRefers to the department of business and professional regulation
Division or DRE - ANSRefers to the division of real estate
License - ANSMeans any permit, registration, certificate, or license issued by the department
Licensee - ANSRefers to any person to whom a permit, registration, certificate or license is
issued by the department
A BAR SALE - ANSThe most common services of real estate:
Appraising
Buying
Auctioning
Renting
Selling
,Advertising
Leasing
Exchanging
Sales associate - ANSMust be employed by a real estate broker or owner developer to practice
real estate
*must complete all pre license requirements to obtain their initial license as a sales associate
Broker - ANSA 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 - ANSMust 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)] -
ANSActively 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 - ANSSomeone 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 - ANSAn 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 - ANSFlorida 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 - ANSFor 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 - ANSIf an application to take state exam is denied, the applicant will be
notified in writing.
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 - ANSFlorida 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 - ANSThe owner developer must register with the department
but does not receive a real estate license
Post licensing course - ANSAll 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 - ANSSales 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 - ANSAll 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 - ANSPersons who are granted authority under a power of attorney to act for
others in some capacity, such as signing documents
Salaried employees - ANSOf 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" - ANSThe 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
Executive powers - ANSCan be exercised by the chairperson acting alone or can be delegated
by quorum vote to any other commission member
Quasi judicial powers - ANSAllow 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 - ANSMay 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 - ANS14 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 - ANSIndividual 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 - ANSSuspended, 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 - ANSIf a licensee no longer wishes to practice real estate, they can return
their license to the department. The license would be...
Group license - ANSA 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 - ANSA broker can be issued additional licenses in two or more capacities by
requesting...
NOT available to sales associates or broker associates