Term
| Florida Real Estate Commission (FREC) Duties |
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Definition
| Charged with protecting the general public by regulating Brokers, Firms, Assoicates, Schools and Instructors. |
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Term
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Definition
7 Members: governor appointed, senate confirmed; 5 professional and 2 consumer
Accountable to Governor, NOT DBPR
At least one member must be 60+
4 of 5 must be Florida Brokers active in last 5 years and 1 must be a broker or associate active in the last 2 years
Other 2 never been broker or associate.
Exempt from civil liability while performing duties.
Paid $50/day plus expenses.
Commission elects chair and vice chair.
Need 51% (4) to conduct meeting. |
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Term
| FREC Powers and Duties - Executive |
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Definition
Investigation of Complaints.
Quasi Judicial at issuance of Formal Complaint.
Powers to regulate and enforce the license law are delegated to the commission by the legislature |
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Term
| FREC Powers and Duties - Quasi-Legislative |
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Definition
Primary to adopt rules.
Responsibilities include the power to enact and revise administrative rules and regulations and to interpret questions regarding the practice of real estate. |
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Term
| FREC Powers and Duties - Quasi-Judicial |
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Definition
Primary to hear complaints, disciplines licensees and grant or deny Recovery Fund Claims.
Responsibilities include the power to grant or deny license applications, to determine license law violations and to adminster penalties. |
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Term
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Definition
Adopt a Seal - Prima facie evidence w seal
Foster the Education of Applicants and Licensees - Fosters education in ethical, legal and business practice as well as prescribing post ed requirements.
Make Determinations of Violations - Report criminal violations of Ch 475 to States Attorney as well as report to Division of Condo, Timeshare and mobile homes violations of its licensees.
Regulate Professional Practices - Issues EDO for example and establishes rules and regulations requiring records be maintained and manner in which money, funds or checks are to be made in escrow.
Create and Pass Rules and Regulations - Promulgates (enacts and publishes) regulations that enforce Fl Statutory License Law.
Establish Fees - DBPR estimates of revenue help break down fees to cover costs.
Grant or Deny Applications.
Suspend or revoke licneses. |
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Term
| Department of Real Estate |
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Definition
Provides all services required to administer the Florida License Law.
Policies set by FREC are carried out by DRE. |
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Term
| Department of Business and Professional Regulation (DBPR) |
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Definition
Regulates Licensed Professions in Florida.
Chief administrator, Secretary of DBPR, is appointed by Governor. |
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Term
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Definition
| regulates education courses and license examinations for each profession under the DBPR |
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Term
| Division of Service Operations |
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Definition
Customer Contact Center - incoming coorespondance from licensees and public.
Central Intake Unit - processes all applications and fees as well as issuance of all licenses and renewal notifications. |
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Term
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Definition
Administrative duties include Routine duties and clerical functions on behalf of the FREC.
Ministerial duties include record keeping.
DRE Director appointed by Sec of DBPR w approval of FREC. DBPR employs all DRE to support FREC FREC members are not employees. |
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Term
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Definition
Records must be held for 2 years.
Grades and questions are confidential.
Theft or copying of material is 3rd degree felony. |
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Term
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Definition
Must notify DBPR of current mailing address, which may be PO Box.
Must notify DBPR within 10 days of change to address
Failure is violation of FS 455 subject to citation and $500 fine. |
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Term
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Definition
Initial effective date is date passed license exam.
Issued with expiration of 18-24 months. March 31 or Sept 30.
60 days prior to expire, DBPR mails to current address notification. |
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Term
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Definition
Post license must be complete before the first renewal of initial license.
After post ed, continuing ed of 14 hours must be completed each renewal period.
If renewed after expiration date, late fee is assessed.
After expiration, involuntary inactive status for 24 months then license is revoked. |
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Term
| License by Fraud, Misrepresentation or Concealment |
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Definition
Rule 61J - continuing ed for active and inactive brokers and associates.
If renewed without complied penalty of revocation if discovered by DBPR, if admitted by licensee, admin fine of NMT $5000. |
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Term
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Definition
| exempt from renewal provisions during period of active duty and six months after discharge and spouse if out of state. Applies provided licensee is not engaged in real estate brokerage activity. |
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Term
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Definition
Required to engage in real estate services.
Achieved by finding an employer and registering with the DBPR. |
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Term
| Voluntary Inactive Status |
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Definition
| Voluntary Inactive - Qualified but chooses not to engage in real estate services. Indefinate renewal provided CE and fees requirements are met. |
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Term
| involuntary Inactive Status |
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Definition
failure to renew active or voluntary inactive license before expiration.
If not renewed within two years, expires - null and void and Course I must be retaken.
12 months or less 14 hours CE.
24 months or less 28 houss CE.
Broker license suspended or revoked also lead to involuntary inactive status |
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Term
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Definition
two years involuntary inactive.
revocation for disciplinary proceedings.
Voluntary cancellation of licnese. |
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Term
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Definition
Exists but licensee cannot use it.
Inactive status and suspended. |
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Term
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Definition
Moving from one broker to another.....
Until SA is registered with the new broker, the SA cannot work.
FREC/Commission must be notified within 10 days.
Broker/school address change or SA/Instructor employer change. |
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Term
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Definition
Issued to Brokers who qualify for more than one business entity.
SA and BA may work for only one broker and may not hold multiple licenses. |
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Term
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Definition
Issued to SA and BA who are registered with an owner-developer owning properties in various names.
Entities are connected so SA/BA is issued group license to work for multiple companies. |
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Term
| Education and Research Foundation |
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Definition
administered by FREC.
Funded from income derived from the real estate portions of the Professional Regulation Trust Fund. |
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