CHAPTER 1

[Pages:37]CHAPTER 1

Becoming a Licensed Real Estate Broker

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Broker License Requirements

Must complete 72-hour prelicensing course ? 100 question final exam ? 70% passing grade ? Certificate of Completion

valid for 2 years

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Pre-Licensing Requirements

? End-of-Course Exam Eligibility ? Cannot miss more than 8

classroom hours ? Makeup classes or final exam

must be within 30 days of the original final exam date ? May miss final exam for student or family illness only

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Pre-Licensing Requirements

? Fail end of course exam ? Must wait 30 days to retest ? May re-test one time within one year ? Fail 2nd time ? must repeat the entire course

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Broker Application

Requirements:

? Hold active sales associates license for 24 months during preceding 5 years in Florida, (employment with an ownerdeveloper does not count) any other State, territory or jurisdiction of the U.S. or any foreign national jurisdiction

? Current and valid sales associate license for 24 months during preceding 5 years in the employ of a governmental agency for a salary performing duties of active real estate license

? Current and valid brokers license for 24 months during

preceding 5 years in any other State, territory or jurisdiction of

the U.S. or any foreign national jurisdiction

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FREC can deny a license application ? Applicant notified in writing of right to a

hearing (F.S. 120) Denial with Prejudice ? False Statements ? Omit criminal history ? Evidence of bad character ? Acts committed that could have resulted

in suspension or revocation if licensed Denial without Prejudice ? Incomplete application ? omit signature ? Forget to include fee ? Application returned for correction ? Fail State exam

Denial of

License

Application6

Denial of License

Application (cont)

Grounds for application denial (cont):

? Acts committed that could have resulted in suspension or revocation if licensed

? Under investigation in another State that could bring suspension or revocation if licensed in Florida

? Operating as a real estate licensee within the past year

? Application is denied - 21 days from receipt to request a hearing

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Broker

Application

? Must submit within 60 days of expiration of the notice of satisfactory completion

? Request inactive license ? Submit electronic fingerprints ? Must be of good character,

honest, truthful, trustworthy & competent to participate in real estate transactions

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