NEW Gold Coast Real Estate: Chapter 2 100% SOLUTION 2023//2024

1919: - ANSWER California enacted the first real estate license law 1923: - ANSWER Florida enacted first real estate license law. Ineffective because expensive & time consumption. 1925: - ANSWER FREC was created to administer & enforce law. 1941: - ANSWER Real estate license law was designated as chapter 475 of Florida Statutes 1979 & 1982 - ANSWER FREC was taken out then Reinstated 1988: - ANSWER FS 475 was going under modification, while postlicensing requirements and a program for appraisers was created. 1991: - ANSWER FS 475 Revised by the creation of Part I and Part II. Part I concerning real estate licenses, Part II concerning appraisers. 1993: - ANSWER DPBR (Department of Business and Professional Regulation) : - ANSWER Disclosure requirements were revised and modified repeatedly Purpose of Florida Real Estate License Law (FS 475) - ANSWER To protect the public; it is a consumer protection agency DPBR (Department of Business and Professional Regulation) - ANSWER "the Department: DRE (Division of Real Estate) - ANSWER "the Division" Florida Real Estate Commission - ANSWER "the Commission" Statuatory Services of Real Estate - ANSWER Appraising, Auctioning, Business Brokerage, Buying, Counseling, Exchanging, Leasing, Listing, Property Management, Advertising services, Renting (up to 12 months), selling, syndicating, Selling Timeshare units Qualifications for license: - ANSWER Social Security, 18 years of age, HS diploma or equivalent, Honest, trustworthy, truthful. Do you have to be Resident of Florida, or US Citizen? - ANSWER NO Prelicensing: - ANSWER 1. complete sales associate/broker education and pass exam 2. Submit application for state exam, and payment of fee for license 3. Submit electronic fingerprints 4. Pass state exam 5. Obtain employment, and file employment to activate license Postlicensing: - ANSWER 1. complete sales associate/broker education and pass exam 2. Pay renewal fee Continuing education: - ANSWER EVERY 2 YEARS Mutual Recognition - ANSWER Florida has this contract with 8 states; Alabama, Arkansas, Connecticut, Georgia, Indiana, Mississippi, Nebraska, and Oklahoma. Application approval - ANSWER must pass state test within 2 years of approval. Application denial - ANSWER Applicant has 21 days to request formal hearing Qualifications for Brokers License - ANSWER Applicant must have been licensed under at least one broker for at least 24 months. License under an owner-developer is no valid. 30 Days - ANSWER Minimum wait time to retake class exam after failing 1 year - ANSWER You have this long to retake class exam after failing Attorneys - ANSWER Who is exempt from the course and examination?