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Complaints against licensees are confidential until _____ days after probable cause is found to exist. - ANSWER 10 Licensees involved in a first-time offense of a minor nature will receive a letter of noncompliance. There after the licensee has ____ days to take corrective action. - ANSWER 15 Summary Suspension- What is it and who issues it? - ANSWER An emergency order which immediately places a real estate license suspension when it is felt the licensee is a danger to the public. It is ...

Brokerage offices - ANSWER All active Fl RE brokers are required to have an office and to register the office with DBPR. Sales assoc are not permitted to open offices of their own. They must be registered from and work out of an office maintained and registered in the name of their employer. Branch offices - ANSWER If a broker desires to conduct business from additional locations, the broker must register each additional location as a branch office and pay the appropriate registration fees. R...

RE licensee provide specialized service in 5 areas - ANSWER Details of property transfer Knowledge of market conditions Knowledge of how to market RE or businesses Knowledge of how to analyze buyers needs Knowledge of laws that pertain to RE Sales and leasing - ANSWER RE sales is the lifeblood of the brokering business Follow up - ANSWER Best way to ensure buyers and sellers Sales associates do this AFTER the sale RE sales associates specialize in any of 5 major specialties - ANSWE...

Real Estate Business - ANSWER Is composed of many specialization's: - (1)Details of Property Transfer -Knowledge of: (2)market conditions (3)how to market real estate business (4)how to analyze buyers needs (5)laws that pertain to real estate Real Estate Brokerage - ANSWER Is the bringing together of buyers and sellers, owners and renters and completing real estate transactions. ***How can a agent maintain good standing with clients? (After title closing)*** - ANSWER ***Follow Up. ...

What did the Florida legislature do in 1923? - ANSWER Passed the Real Estate License Law, Chapter 275 of Florida Statutes What is Chapter 475 of the Florida Statutes? - ANSWER Real Estate License Law What did the Florida Legislature do in 1925? - ANSWER Created the Florida Real Estate Commission to administer and enforce law. What is the Florida Real Estate Commission responsible for doing? - ANSWER Keeping records, conducting investigations, and grants, denies, and revokes licenses. ...

Real estate investment trust that are formed to buy, own and manage investment projects are called - ANSWER Equity trust What Fl statute created the Department of business and professional regulation - ANSWER FL 455 Universal Agent - ANSWER All matters by power of attorney General Agent - ANSWER Continuing basis for specific area Special Agent - ANSWER Single Task Normal sales associate Subagency - ANSWER Extension of another agency Subagent - ANSWER A party who has been grante...

When did Florida pass its first Real Estate Law? - ANSWER 1923 When was the FREC created? - ANSWER 1926 What is the purpose of the FREC? - ANSWER protect the public What is the DBPR? - ANSWER Department of Business and Professional Regulation What is the Mission of the Department? - ANSWER to ensure that professions and businesses provide quality services for the health, safety and welfare of citizens and visitors in the great state of Florida What is the DRE? - ANSWER Division of...

When did Florida pass its first Real Estate Law? - ANSWER 1923 When was the FREC created? - ANSWER 1926 What is the purpose of the FREC? - ANSWER protect the public What is the DBPR? - ANSWER Department of Business and Professional Regulation What is the Mission of the Department? - ANSWER to ensure that professions and businesses provide quality services for the health, safety and welfare of citizens and visitors in the great state of Florida What is the DRE? - ANSWER Division of...

He sold his investment property and has identified the property he'd like to buy next. Within how many days must he close on this property in order for it to qualify as part of the exchange? - ANSWER a. 180 b. 30 c.45 d.60 a. He has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of sale. In which form of co-ownership is a person's ownership inheritable? - ANSWER a. Joint tenancy b. Tenancy by the entirety c. Tenancy in common d. Tena...

A sales associate works under - ANSWER the direction of a broker or in some cases an owner developer A licensed appraiser is compensated for an appraisal - ANSWER With a flat fee The product/service that all real estate professionals sell is - ANSWER their expert knowledge Which area of real estate requires the highest degree of expertise? - ANSWER Counseling Which Florida Administrative Code expands upon the statutory provisions of Chapter 475, Florida Statutes? - ANSWER 61J2 Aft...