FL Real Estate Unit 1-2, Kaplan/ Keller Williams

Florida Real Estate License Law

Chapter 475 of the Florida Statutes that regulates real estate licensees and activities.

Year Florida Real Estate License Law was passed

1923

FREC

Florida Real Estate Commission; the agency that administers and enforces real estate license law.

Year FREC was created

1925

DBPR

Department of Business and Professional Regulation; regulates professions and businesses in Florida.

DRE

Division of Real Estate; the division under DBPR that handles real estate regulation.

FREC's job

To make decisions, create policies, and enforce Florida real estate license law.

Sales Associate

A person who performs real estate services for compensation under the direction, control, and management of a broker.

Broker

A person who performs real estate services for another person for compensation and can operate a brokerage.

Owner-Developer

A person who sells their own property and does not need a real estate license.

Real Estate Services

Activities involving real estate that are performed for compensation and require a license.

Compensation

Money or anything of value received for performing a service.

Activities requiring a license (ABARSALE)

Advertise, Buy, Appraise, Rent, Sell, Auction, Lease, Exchange.

Executive Powers

FREC's power to enforce and regulate real estate license law.

Quasi-Legislative Powers

FREC's power to create rules and regulations.

Quasi-Judicial Powers

FREC's power to conduct hearings and discipline licensees.

FREC Powers Memory Trick

E-Q-Q: Executive = Enforce, Quasi-legislative = Rules, Quasi-judicial = Hear cases.

FREC Education Duty

FREC helps educate applicants, licensees, and instructors about ethical, legal, and business practices.

Number of FREC members

7 members.

Broker members on FREC

4 members must be brokers.

Consumer members on FREC

2 members must not be connected to real estate.

Who appoints FREC members

The Governor.

Who confirms FREC members

The Senate.

Sales Associate Requirements

Be 18+, have a high school diploma/equivalent, complete education, pass exam, submit fingerprints, and apply.

Minimum age for sales associate license

18 years old.

Sales Associate Pre-License Course

63-hour approved course required before taking the exam.

Sales Associate Post-License Course

45-hour course required before first license renewal.

When post-license education is required

Before the first renewal of a sales associate license.

Failure to complete post-license education

License becomes null and void.

Broker Pre-License Course

72-hour approved course required for broker applicants.

Broker Experience Requirement

24 months of active real estate experience during the previous 5 years.

Broker Requirement Before Applying

Complete the 45-hour sales associate post-license course if applicable.

License Exam Requirement

Applicant must pass the Florida real estate licensing exam.

Active License

A license that allows a person to perform real estate services.

Inactive License

A license that cannot be used to perform real estate services.

Null and Void License

A license that is no longer valid.