Lesson 2 Terms Flashcards
(18 cards)
adjudication withheld
A decision by a judge to put a person on probation without an adjudication of guilt, meaning a person is not found guilty legally by the court, but still holds the individual responsible as if guilty.
broker
An individual or business entity licensed by the DBPR to perform services of real estate for others for compensation.
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
Latin phrase meaning: “Let the buyer beware.”
compensation
Anything of value or valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.
Florida resident
A resident for licensing purposes is a person who has resided in Florida continuously for a period of four calendar months or more within the preceding year, regardless of whether the person resided in a recreational vehicle, hotel, rental unit, or other temporary or permanent location.
license/registration
A license is obtained when an applicant passes the State exam while registration is the process of placing information into the DBPR’s records.
nolo contendere / no contest
Latin phrase meaning: “I do not wish to argue.” A type of plea to a legal charge, which, means the defendant neither denies nor confirms the charges brought against him. Also called “no contest.”
prima facie evidence
Requiring no further proof; acceptable on the face of.
real estate services
When a real estate licensee acts on behalf of another, for compensation.
sales associate
A licensed individual employed by a broker or owner-developer
sealing vs. expungement
Sealing is when your record is sealed, meaning it cannot be accessed by normal means, while expungement literally wipes the slate clean, with no evidence that you were ever convicted of any criminal offense
Important points to remember
The governor appoints the seven members of the Commission
Caveat emptor is Latin for “let the buyer beware.”
Chapter 475 has four parts
Important Points to Remember
Florida does not offer licensure by reciprocity with any other states
Licensees must notify the DBPR of a change in address within 10 days of the change Disclosure of Social Security numbers is mandatory on all applications You can take the state exam as many times as necessary to pass with a 75% or better score. Licensees are exempt from pre and post-licensing education with a four-year degree in real estate
Individuals Who Are Required to Be Licensed
A Bar Sale
475.01
A - Advertise real estate services
B - Buy
A - Appraise (non-federally related)
R - Rent or provide rental information or lists
S - Sell
A - Auction
L - Lease
E - Exchange
Licenses are renewed and a fee paid every two years.
The post-licensing course for sales associates must consist of 45 classroom hours and be completed prior to initial licensure expiration. The continuing education course must consist of 14 classroom hours and be completed prior to every biennium renewal after the first one. These courses can be taken in a classroom licensed real estate school by a licensed real estate instructor, or it can be taken via a FREC-approved online course, like this one.
Lesson 2-3:
Important Points to Remember in maintaining your license
Sales associates must complete 45 hours of post-license education before the first renewal
Sales associates and brokers must complete 14 hours of continuing education every two years after the first renewal Post-licensing coursework must be fulfilled before the first biennial renewal, and continuing education must be fulfilled for each subsequent renewal period.
Unit Important Points to Know-based on final exam questions
The governor appoints the seven members of the Commission
Caveat emptor is Latin for “let the buyer beware.”
Chapter 475 has four parts
Florida does not offer licensure by reciprocity
with any other states
Licensees must notify the DBPR of a change in address within 10 days of the change
Disclosure of Social Security numbers is mandatory on all applications
You can take the state exam as many times as necessary to pass with a 75% or better score.
Licensees are exempt from pre and post-licensing education with a four-year degree in real estate
Sales associates must complete 45 hours of post-licensing education before the first renewal
Sales associates and brokers must complete 14 hours of continuing education every two years after the first renewal
Post-licensing coursework must be fulfilled before the first biennial renewal and continuing education must be fulfilled for each subsequent renewal period.
