A student must score 70 percent in the end-of-course exam and 75 percent in the state exam.
Applicants for a real estate license must have a Social Security number.
Applicants must submit fingerprints electronically.
Students have two years to pass the state exam after completing the prelicense course.

Real Estate Brokerage

The five major real estate sales specialties are residential, commercial, industrial, agricultural, and businesses.
Sales associates working in residential sales often specialize in a neighborhood, which is called “farming.”
Property management has grown largely because of absentee ownership.
Appraisers estimate real estate value and must follow the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP).
Real estate brokers and sales associates may appraise property for a fee if the property will not be the collateral in a federally-related loan.
The real estate licensee may not call the appraisal “certified.”
The licensee must follow the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP).
Most real estate licensees normally prepare a comparative market analysis (CMA).
A broker may charge a fee for an CMA or a broker’s price opinion (BPO).
The CMA may not be called an appraisal.
The section of a CMA that shows the sales prices of properties will reflect the estimated value of an appraisal.
A person who takes applications for a mortgage loan must be licensed by the Florida Office of Financial Regulation.
A real estate licensee may not accept a referral fee from a lender unless the licensee is licensed as a loan originator.

Development and Construction

Before development on a new subdivision begins, the developer must submit a subdivision plat map for review by the local planning board or commission.
The clerk of the court will record the plat map and any restrictive covenants established by the developer.
The developer must build the infrastructure in conformance with city or county standards, and will dedicate the roads and storm sewer systems to the government for ongoing maintenance.

A building contractor builds three categories of construction: speculative (spec) building, tract building, and custom building.

Quizzes