Florida Real Estate

Total Flash Cards » 31



a licensee who acts an an intermediary between two parties and negotiates contracts between them.


broker associate


an individual who is qualified to be issued a broker's license but who operates as a sales associate in the employ of another.


caveat emptor


buyer beware




anything of value or valuable directly or indirectly paid promised or expected to be paid or received. Must be licensed to receive!




privilege granted by the state to operate as a real estate broker, broker associate, or sales associate


nolo contendere


pleading of no contest by a defendant (not admitting guilt).


owner developer


an unlicensed entity that sells, exchanges, or leases its own property.


real estate services


buy, appraise, rent or provide rental information, sell, auction, lease, exchange BARSALE




to place and maintain address with DRE


sales associates


a licensed individual who, for compensation, is employed by a broker or owner developer.


what is Florida Statute 475


real estate license law


Characteristics of a sales associate


honest trustworthy good character 18 years or older high school diploma or equivalent must disclose all convictions of guilt of a crime if you ever pleaded no lo contende ever been charged wit dishonest dealings ever been denied or had a license revoked in any profession or denied registartion to any professional license or had a license suspended or revoked


license renewal dates


March 31st and September 30th license are for 18 to 23 months


what must you complete within your first year of being an associate


a 45 hour post license course before license expires


what are the eight services of real estate


buy, appraise, rent, sell, auction, lease, exchange= BARSALE


is a salaried employee who sells exchanges real property exempt from license




what it is mutual recognition


ten States that allow you to practice real estate with a Florida real estate license


Provides Support to FREC


DRE the DRE is under the DBPR


Professional ethics and business practices of the licensee are under the jurisdiction of




Is US citizenship required to be an associate




to you have to beat a Florida resident to be an associate




what must nonresident applicants or licensee sign to become an associate


irrevocable consent to service


what is irrevocable consent to service


this agreements provides that lawsuits and other legal actions may be initiated against the applicant in any county of Florida in which the person bringing suit recides


how long does any licensee have to notify the commission after becoming a nonresident


sixty days


what are the experience requirements for becoming a broker


they must complete at least twelve months of real estate experience during the five-year period preceding their becoming licensed as brokers


what are the educational requirements for becoming a broker


must complete a FREC Course or an equivalent FREC approved course. Course to consist of 69 hours of instruction plus three hours for the end of course examination




an individual who wishes to actively engage in the real estate industry must be licensed and registered as active with the DRE


on a real estate license what does the SL stand for


sales associates


what happens if a sales associate fails to complete the 45 hours of post licensing course


their required to requalify for licensure by repeating the prescribed post license course and end of course exam and by again passing the state licensing exam


what happens that a broker fails to complete the 60 hour post license requirements


a broker's license becomes null and void however the broker may request and receive a sales associate license if he or she completes 14 hours of continuing education within six months following expiration of the broker's license


who are exempt from licensure


person who buy or sell cemetery lots, individuals who rent lots in the mobile home park, radio and television station sales, attorneys at law and certified public accountants when acting within the scope of the profession, attorneys in fact a person with power of attorney for the execution of contracts and conveyance only,person who deals in personal property only such as mortgage brokers, full-time grad students enrolled in a commission approved degree program, person acting in the limitations of their duties as designated by a will, employees were paid a salary as managers of condominiums, salaried employees of an owner of an apartment community, salaried employees of a public utility who act within the scope of the regular employment, anyone who works the motel or hotel and leases public lodging, timeshares, appraisers certified by the DPBR federally regulated banks selling business enterprises owners of an apartment complex pain defined as the of not more than $50