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20 Cards in this Set
- Front
- Back
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Broker
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A licensee who acts as an intermediary between two parties and negotiates contracts between them.
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Broker associate
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An individual who is qualified to be issued a broker's license but who operates as a sales associate in the employ of another.
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caveat emptor
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Let the buyer beware
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Compensation
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"Anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received."
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License
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"A privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest."
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Mutual recognition agreement
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A transactional agreement between Florida and another state that provides for the two states to recognize each others real estate prelicense education
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Nolo contendere
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A pleading of no contest by a defendant; a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as if it were a guilty plea.
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Owner-developer
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"An unlicensed entity that sells, exchanges, or leases its own property."
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Prima facie evidence
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Requiring no further proof; acceptable on the face of.
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Real estate services
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Real estate activities involving compensation for performing the activities for another.
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Reciprocity
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An agreement by two states that allows a real estate licnesee with a valid license in one of the states to practice real estate in both states.
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Registration
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Authorization by the state to place an applicant on the register (record) of officially recognized individuals and businesses.
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Resident
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"For license and application purposes, is a person who has resided in Florida continuously for a period of four calendar months or more within the preceding year."
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Sales associate
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"A licensed individual who, for compensation, is employed by a broker or owner- developer."
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Withhold adjudication
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Occurs when the court determines that a defendant is not likely to again engage in a criminal activity and that the ends of justice and the welfare of society do not require the defendant suffer the penalty imposed by law.
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CHAPTER 20
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This chapter governs the executive branch of the Florida Government
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CHAPTER 475
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"This chapter governs real estate brokers, sales associates, and schools"
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CHAPTER 455
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This chapter governs the Department of Business and Professional Regulation and the professions under the department
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CHAPTER 120
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This chapter governs the procedural process for all governmental entities authorized under the Florida Constitution
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CHAPTER 61J2
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This chapter governs the Florida Real Estate Commission rules
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