UPDATED GOLD COAST Real Estate 100% SOLUTION 2023//2024

Farming - ANSWER licensee concentrate on one type or style of property or on one particular neighborhood Farm area or target market - ANSWER Finding 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 - ANSWER When 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 - ANSWER Government 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 - ANSWER F.S. 475 to protect the public Commission or FREC - ANSWER Refers to the Florida real estate commission Department or DBPR - ANSWER Refers to the department of business and professional regulation Division or DRE - ANSWER Refers to the division of real estate License - ANSWER Means any permit, registration, certificate, or license issued by the department Licensee - ANSWER Refers to any person to whom a permit, registration, certificate or license is issued by the department A BAR SALE - ANSWER The most common services of real estate: Appraising Buying Auctioning Renting Selling Advertising Leasing Exchanging Sales associate - ANSWER Must 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 - ANSWER A 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 - ANSWER Must 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)] - ANSWER Actively 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 - ANSWER Someone 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 - ANSWER An 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 - ANSWER Florida 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 - ANSWER For 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 - ANSWER If 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 - ANSWER Florida 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 - ANSWER The owner developer must register with the department but does not receive a real estate license Post licensing course - ANSWER All 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 - ANSWER Sales 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 - ANSWER All 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 - ANSWER Persons who are granted authority under a power of attorney to act for others in some capacity, such as signing documents Salaried employees - ANSWER Of 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" - ANSWER The 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 - ANSWER Can be exercised by the chairperson acting alone or can be delegated by quorum vote to any other commission member Quasi judicial powers - ANSWER Allow 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 - ANSWER May 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 - ANSWER 14 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