REAL ESTATE CHAPTER 3 TERMS

• -be at least 18 years old.
• -hold a high school diploma or its equivalent.
• -must have a ssn
• -**Broker License applicants must have held an active real estate license in any state for at least 2 out of the previous 5 years.

• -A person who no longer wants to engage in the real estate business can voluntarily cancel with FREC.
• -When requirements are not met then the license may be voided.

a license cannot conduct business

• 1.  successfully completed a FREC approved pre-licensing course for sales associates
• 2.  Submit a completed application, electronic fingerprints, and appropriate fee.
• 3.  Pass the Florida Real Estate Sales Associate Examination with a grade of 75% 
• 4.  Activate the licensee
• 5.  Successfully complete a FREC- approved post-licensing course for sales associate consisting of a least 45 classroom-hours.

is for an owner/developer who owns properties through various entities, but all such entities are connected so that such ownership or control is by the same individual or individuals.

-may be issues to prevent any action that may impair the value of property, prevent trespass or improper encroachment onto property, require the termination of a public nuisance, protect easement rights, protect riparian rights, protect against improper condemnation(i.e., governmental taking, and many others.

• -voluntary inactive
• -involuntary inactive

if a licensee fails to renew an active or voluntary inactive license before the expiration date (other than the first renewal)

• -you may be a broker of multiple corporations at the same time and be a sole proprietor.  For each entity or business you are a broker with, you will require a separate individual license and will be required to renew each license to prevent any license lapses with the entity of businesses they are related to.
• -multiple real estate offices
• -broker holds more than one broker license

no longer a valid license

• -a licensee who has qualified for a real estate license but who voluntarily chooses not to engage in the real estate business during a given period and requests such a change is placed on voluntary inactive status.
• -A licensee may change an active license to a voluntary _____ by submitting to the DBPR the proper form.