Exam (elaborations)
BOB HOGUE SALES ASSOCIATE EXAM REVIEW
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BOB HOGUE SALES ASSOCIATE EXAM REVIEW
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BOB HOGUE SALES ASSOCIATE EXAM REVIEWThe product that real estate licensees market is - Answers -information
Knowledge of property transfer, knowledge of market conditions,
knowledge of how to market real estate or business
A competent licensed real estate professional must know the economic and
legal intricacies associated with transfers of - Answers -title, property taxes,
financing, and local zoning ordinances
To be successful, licenses must know how to - Answers -market real estate
and businesses
Real estate brokerage - Answers -the business of bringing together buyers
and sellers, owners and renters, and of completing real estate transactions
5 sales specialties of real estate - Answers -residential, commercial,
industrial, agricultural, business
Real estate professionals have found that advertising money is more
efficiently spent and produces better outcomes if efforts are focused on a
target market - Answers -target marketing involves expertise in locating
prospects
Many brokers and sales associates prefer to select one specific portion of a
city and become an expert in that particular portion, called - Answers -farm
area
Property management - Answers -professional service conducted by a
person or company hired to maintain and manage property on behalf of the
property owners
Property manager - Answers -the property owners local representative
Rental agents - Answers -typically find a tenant for property and collect a
fee
,Absentee owner - Answers -a property owner who does not reside on the
property and who often relies on a professional property manager to
manage the investment
A property manager who is paid by commission or on a transactional basis
must be - Answers -licensed as an active real estate broker
CAM (community association manager) - Answers -association consists of
10+ units, or has budget higher than $100,000
Appraisal - Answers -process of developing and communicating an opinion
about a property's value
FREAB (florida real estate appraisal board) - Answers -regulates state
certified and licensed appraisers. Federally related transaction
USPAP - Answers -uniform standards of professional appraisal practice
Florida law requires appraisers, real estate brokers, and sales associates
to abide by - Answers -USPAP when conducting appraisals of real
property.
CMA - Answers -comparative market analysis. Sellers often ask real estate
brokers and sales associates what buyers are likely to pay for their
property's
BPO - Answers -brokers price opinion. A written opinion of the value of real
property
The money you earn is - Answers -your brokers
Financing - Answers -life blood of real estate. Business of providing funds
that make real estate transactions possible.
Chapter 455 - Answers -professions regulated by DBPR (dept business
and professional regulation). Discipline a real estate licensee who failed to
notify DBPR within 30 days of conviction, finding of guilt, plea, or
adjudication of a crime
,Florida statute 120 - Answers -procedural process for all governmental
entities authorized under the florida constitution.
Chapter 61J2 - Answers -FREC (florida real estate commission) rules
Sales associate - Answers -person who performs real estate services for
compensation but who does so under the direction, control, or
management of a broker/owner developer
Broker - Answers -a person who for another, and for compensation or other
consideration (or anticipation of compensation or other consideration)
performs real estate services
Broker associate - Answers -a person who holds a brokers license but
chooses to register and work in real estate under the direction of another
broker.
An individual typically begins a real estate career in Florida as - Answers -a
licensed sales associate. Starts with license as voluntary inactive sales
associate
Owner developer - Answers -an unlicensed entity that sells, exchanges, or
leases its own property
Becoming a broker requires - Answers -additional education, experience,
and passing the broker license exam
License application expires: - Answers -2 years after the date the DBPR
receives the application
Military veteran and spouse waiver - Answers -DBPR has the authority to
waive the initial application, license, and unlicensed activity fees for military
vets and their spouses who apply for a real estate license within 60 months
after honorable discharge
Background check of criminal history - Answers -a withhold of adjudication
must be disclosed on the application
Background check and expungement - Answers -process by which the
record of criminal conviction is destroyed or sealed after expiration of time.
, When in doubt, always - Answers -disclose
A florida real estate licensee who moves out of state and becomes a non
florida resident must notify the commission within - Answers -60 days
Licensees must notify FREC with a change of mailing address within -
Answers -10 days
Florida resident - Answers -person who has resided in FL continuously for
a period of 4 calendar months or more within the preceding year regardless
of whether the person resided in a recreational vehicle, hotel, rental unit, or
other temporary/permanent location
Sales associate applicant must be (age) - Answers -18
Applicant who has been disbarred or guilty of offenses is not qualified for a
real estate license unless - Answers -passage of time, good conduct and
reputation, or other sufficient reasons cause the commission to believe
granting the license will not endanger the interests and welfare of the
general public.
A student failing the end of course exam must wait - Answers -30 days
before retaking
2 exemptions of prelicensing - Answers -4 year or higher real estate
degree, licensed attorney
If you hold a 4 year real estate degree, you are exempt from - Answers -
prelicense course 1, 2, and post license. NOT CONTINUING EDUCATION
If you are a florida licensed attorney you are exempt from - Answers -
prelicensing course 1
Passing score of license exam - Answers -75
New sales associates must change their license to - Answers -active status
before operating as a sales associate. Submitting DBPR from RE:11
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