Real Estate Sales Associate Exam Prep

Farming

• Licensees focus on a specific type of property or neighborhood to enhance success in real estate.

Target Market

• Specializing in a neighborhood or property type is essential for success in the real estate business.

Tract Building

• Developers obtain large tracts of land, create subdivision plat maps, and set up model centers for sales.

Local Government Regulation

• Local planning and zoning, property taxation, health codes, and building regulations significantly impact real estate costs and desirability.

Purpose of the Law

• Florida Statute 475 aims to protect the public in real estate transactions.

Florida Real Estate Commission

• Known as FREC, it oversees real estate practice in Florida.

Department of Business and Professional Regulation

• Referred to as DBPR, it regulates professional practices, including real estate.

Division of Real Estate

• Known as DRE, it is a part of DBPR focusing on real estate licensing and regulation.

License Definition

• A license encompasses any permit, registration, certificate, or license issued by the DBPR.

Licensee

• A licensee is an individual granted a permit or license by the department to conduct real estate activities.

Common Real Estate Services (A BAR SALE)

• Key services include Appraising, Buying, Auctioning, Renting, Selling, Advertising, Leasing, and Exchanging.

Sales Associate

• Must work under a licensed broker or owner developer and meet pre-license requirements to obtain their license.

Broker

• A broker acts as an agent for clients offering real estate services and receives compensation for services.

Transitioning to Broker

• Sales Associates need at least 24 months of employment under licensed brokers within the last five years to qualify for the broker examination.

Additional Broker Applicants

• Associates from other states or countries may apply if they have been licensed for at least 24 months in the past five years.

Broker Associate

• A qualified broker who chooses to work under a licensed broker rather than operating independently acts as a sales associate.

Florida License Requirements

• Applicants do not need to be Florida residents or U.S. citizens to obtain a real estate license.

Mutual Recognition

• Florida recognizes similar education and experience from seven states for real estate licensing, including Alabama and Connecticut.

Disclosure of Criminal Convictions

• Applicants must disclose any criminal convictions, including DUI, as these are not considered minor traffic offenses.

Application Denial Process

• If an application is denied, the applicant receives written notification detailing reasons and has 21 days to request a hearing.

Compensation Structure

• Real estate associates cannot receive direct compensation from the public; they must be employed as agents of brokers or owner developers.