Farming - ANSWER Concentrating on one type of style of property or on one particular neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - ANSWER - Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property int...
Farming - ANSWER Concentrating on one type of style of property or on one particular neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - ANSWER - Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of four or fewer residential units
- dispositions of business interests for property of four or fewer residential units
absentee owners - ANSWER owners who buy income property as investments and depend on
professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee, must be developed
and reported in conformity with the - ANSWER Uniform Standards of Professional Appraisal Practice
(USPAP)
The largest and most prestigious real estate organization in the world is ________. They work for
legislation enforce professional standards of conduct through its ________. - ANSWER 1. The National
Association of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - ANSWER The Florida Association of Realtors
(FAR)
The duties required by the Code of Ethics are: - ANSWER 1. Duties to clients and customers
2. Duties to the public in general
3. Duties to other real estate licensees
, Required Skills for the Real estate professional are: - ANSWER 1. Valuation - Must be able to discern
important differences between properties and know ho to translate those differences into value. Must
be able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - ANSWER description of a desired outcome that excites, motivates, and helps you to
create a mental picture of your business goal.
Industrial Sales or Leasing - ANSWER include warehouses and manufacturing facilities. Industrial sales
and leasing generally involve user/owners, rather than investors.
The law that specifically regulates real estate licensees, schools, and appraisers is _________ - ANSWER
F.S. 475
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: - ANSWER Reprimand,
fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 - ANSWER Revocation or
denial of license
If the licensee does not complete the 45 hour course before the expiration date of their first renewal, the
license becomes ____ - ANSWER void and the licensee will be out of business. (have to start over
everything)
When a sales associate changes employers, they must notify the Commission of the change no later than
________ days after the change by using the form provided by the commission. - ANSWER 10
Advertisements may not be - ANSWER fraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in ____________ -
ANSWER the issuance of a citation and a fine of $500
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