UNIT 3—THE REAL ESTATE LICENSE LAW AND COMMISSION RULES

You can expect to see two questions on the end-of-course exam and two questions on the state exam from this unit.

Learning Objectives

After successfully completing this unit, you will be able to
• describe the composition, appointment and member qualifications of the Florida Real Estate Commission,
• define the powers and duties of the Commission,
• explain the different licensure statuses,
• distinguish between active and inactive license status,
• describe the regulations regarding involuntarily inactive status, and
• distinguish between multiple and group licenses.

Key Terms

canceledinvoluntarily inactive
cease to be in forcemultiple licenses
group licensevoid
ineffectivevoluntarily inactive

Overview

This unit describes the activities and duties of the Florida Real Estate Commission (FREC), the body that regulates brokers, sales associates and real estate schools. The Commission is assisted in this regulatory duty by the operations of the Department of Business and Professional Regulation (DBPR) and its Division of Real Estate (DRE). You will learn about the different license statuses, including void, ineffective, active, and inactive.