Who can own a real estate brokerage in Florida?
Only real estate brokers can own and maintain a real estate office in Florida. A broker is someone with a minimum of two years real estate sales experience, who has completed advanced coursework, and passed the 72 Hour Broker Pre License Course, as well as the state exam, to become a licensed real estate broker.
Which type of business organization may be registered as a real estate brokerage quizlet?
Which business organization can legally register as a real estate brokerage? Corporation sole and joint ventures cannot register to broker real estate. A general partnership can register with the DBPR to perform brokerage services. An ostensible or quasi-partnership is not a true partnership.
What is a broker associate in Florida?
“Broker associate” means a person who is qualified to be issued a license as a broker but who operates as a sales associate in the employ of another. I am a licensed Florida Real Estate Broker.
Which of the following organizations Cannot register with Frec as brokerages?
Business trusts cannot be registered as brokers with the FREC.
Is Florida broker exam hard?
How Hard is the Florida Real Estate Exam? Generally speaking, the pass rate for the Florida real estate exam is between 50-60%. By comparison, the average driving test pass rate is 45.8% in the US. So while the test may be difficult and meticulous, you will be able to pass it if you prepare and study accordingly.
Which statement best describes who must be licensed to practice real estate in Florida?
Which statement BEST describes who must be licensed to practice real estate in Florida? Anyone who performs any of the services of real estate for another for compensation, unless specifically exempted by law.
Which of the following types of business entities may not register as a Florida real estate broker?
Which business entity may NOT register as a real estate brokerage entity? Cooperative association. A cooperative association is allowed to conduct commercial business and to convey, sell, or buy its own property, but it cannot be registered as a real estate broker.
Who may directly compensate a sales associate quizlet?
( A sales associate or broker associate may be compensated for a service of real estate, only by his or her employer, not directly by the principal or any member of the public. You just studied 5 terms!
What are the similarities between a business brokerage and a real estate brokerage?
Real estate brokers rely on industry sales, comparable properties while business brokers reference industry-specific standards around establishing a fair and attractive asking price. Compensation. Both are fee-based and are usually paid for a successful sale. Some brokers have a retainer fee.
What is the difference between broker and broker associate?
Real estate brokers do many of the same things that agents do. … Associate brokers have broker licenses but choose to work under another broker. In general, associate brokers do not supervise other agents. Managing brokers oversee transactions and daily operations in the office.
What disqualifies you from being a real estate agent in Florida?
It all depends on the specific crimes on your record and how much time has passed since them. If you have a capital or first-degree felony, for example, your application will be denied. But if you committed a felony like tax evasion or breaking and entering and it’s been 15 years, your application might get approved.
Which statement correctly describes the rules for transferring the registration of a real estate office?
which statement correctly describes the rules for transferring a real estate office registration? only the MAIN or PRINCIPAL office may be transferred. all other branches will be closed and reopened with new fees.
Which type of business formation is formed by an individual who is personally liable?
Which type of business formation is formed by an individual who is personally liable for his or her actions and is liable for the acts of any employee? sole proprietorship.