Gold Coast FINAL EXAM QUESTIONS AND ANSWERS LATEST UPDATE 2023|2024 RATED A+

what are the the areas a realtor should be an expert in? - Answer- 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? - Answer- 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? - Answer- must disclose all convictions Employment - Answer- an associate can only have one employer at a time What's the grace period for a Sales associate's first renewal? Post Licensing - Answer- no grace period, void and null Individuals who are exempt from licensure - Answer- Salaried Employees How long can one stay involuntary inactive? - Answer- 2 years What happens to an associates license if a broker's license is void, suspended, or revoked? - Answer- their license automatically becomes inactive Multiple Licenses - Answer- 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 - Answer- a broker who provides limited representation to a buyer, seller, or both, in a real estate transaction *not an AGENT* Presenting Offers - Answer- must present all offers A broker is entitled to compensation if they... - Answer- bring a buyer who brings an offer the seller was looking for Listing Contract - Answer- 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? - Answer- 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? - Answer- you cannot give him a referral fee for sending you a client Principal Brokerage office - Answer- -registration is good for 2 years -can switch locations