Unit 3: Key Points

Unit 3: Key Points

These are the most important points for you to remember in this unit.

The Department of Business and Professional Regulation (DBPR) and the Division of Real Estate

• The DBPR regulates licensed professionals in Florida.
• The governor appoints the Secretary of the DBPR with the approval of the Senate.
• The legislature intends that
  • professions should be regulated only to protect the public, and only when other means of regulation are not available. and
  • no department or board can create unreasonable restrictive standards.
• Funds received by the Division of Real Estate can be used only for real estate regulation.
• The state exam is confidential.
• It is a 3^rd degree felony if a person steals or copies a state exam.

The Florida Real Estate Commission

• The Florida Real Estate Commission (FREC) has seven members appointed by the governor with confirmation by the state senate.
• FREC members can serve a maximum of two terms.
• The Florida Real Estate Commission is a consumer protection agency.

License Renewal and License Status

• The effective date of the license is the date the licensee passed the exam.
• The two renewal dates are March 31 or September 30.
• The license is good for two years.
• A member of the Armed Forces whose license is inactive is exempt from renewing the license so long as he or she is a member of the Armed Forces on active duty and for a period of 2 years after discharge.
• A licensee whose license is inactive cannot provide real estate services.
• There are two types of inactive licenses: voluntary and involuntary.
  • Voluntary inactive status is for a person who regularly renews, but doesn’t wish to engage in real estate.
  • Involuntary inactive status is the term for a person whose license has not been renewed. After two years in that status, the license will become void.
    • Before 12 months, the licensee can take continuing education and renew.
    • After 12 months, but before 24 months. the licensee must take 28 hours of reactivation education and renew.
• Licenses of sales associates or broker associates become inactive if the broker dies
• The license of a licensee who fails to complete the post-license course and renew is void.

Multiple and Group Licenses

• Brokers can hold more than one broker license (multiple licenses) and be the broker for many different entities.
• Sales associates and broker associates can hold just one license.
• Owner-developers may wish to employ licensed sales associates that work for several companies under a group license.