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Real Estate License Law & Qualifications for Licen


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A sales associates license will be ----- if he or she does not complete required post-license education
Sales Associate
A broker associate acts in the capacity of a
45 hours
The post license educational course for sales associates consists of
Post-license
This Education must be completed during the initial sales associate's license period
Power of atty
Legal authority to sign a document on behalf of another requires a
Registration of an active sales associate with the Department refers to
Placing and keeping on record the sales
Attorney in Fact
Is authorized by a power of attorney to act for another
Irrevocable Consent to Service:
Doc you must sign if you become a non resident saying even if you are not in Florida
Florida Bar Members:
Members of the Florida Bar are except from taking the 63 Hour pre licensing class for sales
Application Process:
to take the state exam you must submit a completed real estate application package first and
If application to take state examination is Denied:
By the Florida Real Estate division the applicant must be
Sales Associates can be licensed under:
a Broker or Owner-Employer such a developer. Brokers are registered and
Post Licensing Education:
All sales associates, including attorneys with a sales associate license whether
Continuing Education:
Following the initial license period, all sales associates (the the exemption of actively
Broker Associate:
If an applicant for a broker's license chooses to continue employment in a sales associate
Mutual Recognition:
Florida does not have reciprocity with any other state in regard to real estate licensing.
Non Resident of Florida:
that has been actively licensed in another state for 2 years of more who wishes to
Residency in Florida:
can be claimed by anyone who has raided in the state for 4 months or more during the
Attorneys in Fact:
persons granted authority under a power of attorney to act for others in some capacity such
Attorneys at Law:
may perform legal services on behalf of their clients, they may prepare docs, handle
Certified Public Accountants
subject to same rules as the attorneys.
Court Appointees are:
persons appointed by a court of law to perform services of real estate. They may do so for a
Broker Associates:
act like sales associates, they simply qualify to receive a brokers license but chooses
Employment by a Broker:
a sales or broker associate cannot receive compensation from anyone but their employing
Employment by owner employer.
sales or broker associate acts as the employer's agent. You can perform services by
Person who requires a license
Performing a service of real estate
By bitter
To drive up the price of property that is being auctioned with no intention of buying
Mutual recognition states
Alabama Arkansas Connecticut Georgia Illinois Mississippi Nebraska and Oklahoma
Pre-license education for broker
Consist of 72 classroom hours including and and of course final exam
Owner developer
An individual that is in business to buy home and or developing real estate registered with the
Sales associate first renewal
45 hour post license course
Department of business and professional regulation (dbpr)
FS 455 Provide licensing oversight and regulation of
Duties of DBPR
Conduct investigation of application prosecute those with violation of the law renewing and
Executive powers
Publication of books and newsletters to keep licensee in public informed of new and
Disciplinary action
Found guilty of a violation find up to 5000 per offense suspension up to 10 years
Members of the commission
Seven members of the commission for members must be licensed brokers
Commission term in office
Are appointed for four terms but there is no maximum number of years in which they
Void and ineffective licenses
If a brokers license is suspended revoked or otherwise void or ineffective person
Ineffective
If her lesson see that decides to no longer practice for the state they can turn in their license
Group license
Group license is a single real estate license that can be obtained by a sales associate or broker
Involuntary inactive
Failing to renew when required to do so
Transaction broker
A broker who provides limited representation to a buyer the seller or both in a real estate
Procuring cause of sale
Two brokers the broker who first produces a purchase who is ready willing and able
Designated sales associates
Two real estate licensees designated to represent the buyer and the seller as single
General Lien
A claim that is not restricted to one property and may affect all the properties of a debtor. (S1)
Acre
A measure of land area equal to 43,560 square feet. (S1)
Adverse Possession
When the true owner of record fails to maintain possession and the property is seized by
Green Belt Law
Legislation designed to protect farmers from having taxes increased just because the land might be
Promulgate
The formal act of enacting a statute or an administrative rule; to publish and officially announce a
Prospectus
A developer is required to provide purchasers a prospectus if the condominium consists of more than
Seisin (seizin)
The clause in a deed that is a promise the grantor has the right to convey title (a statement of
Boot
Additional capital or personal property included in a like-kind exchange. (S1)
Liquidation Analysis
The valuation method used for a business that is going out of business. (S1)
Disintermediation
The removal of intermediaries; buyers bypass the middlemen. (S1)