Gold Coast FINAL EXAM STUDY SET for 4/11 Latest Update 2023

What are the the areas a realtor should be an expert in? - Marketing Valuation & Market Conditions Property Transfer "MVP" Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license? - to get a FL real estate license, you don't need to be a citizen What must an applicant for a real estate license do if he has been convicted of a crime? - must disclose all convictions Employment - an associate can only have one employer at a time What's the grace period for a Sales associate's first renewal? Post Licensing - no grace period, void and null Individuals who are exempt from licensure - Salaried Employees How long can one stay involuntary inactive? - 2 years What happens to an associates license if a broker's license is void, suspended, or revoked? - their license automatically becomes inactive Multiple Licenses - issued only to active brokers if it is clearly shown that such additional licenses are necessary to the conduct of legitimate business What is a Transaction broker - a broker who provides limited representation to a buyer, seller, or both, in a real estate transaction *not an AGENT* Presenting Offers - must present all offers A broker is entitled to compensation if they... - bring a buyer who brings an offer the seller was looking for Listing Contract - broker's employment contract that states the terms and conditions that the broker must meet to become eligible for compensation