Realtor Study Guide - Real Estate 2022

Define the duties of a rental agent

• Tenant for property + collect fee

• Intermediaries between potential tenant + property owner

• A legal document that allows to become an attorney

• Revises administrative rules + regulations to enforce law

Compensation procedure for a broker price means

• Advertising in the name of the brokerage + under supervision of broker

• Is active under another Broker

• Compensation must be paid to broker not directly to sale associate

• Legal term for a type of evidence

Appropriate Licensing Requirement when working on commission =

• Must hold an active real estate license unless paid strictly on basic salary

• Must hold an active real estate license on commission

Broker Associate Criteria =

• Holds Broker License + limited scope activities + active under another broker as a sales associate

• 4 years of higher of a college degree

• Holds Broker License + unlimited scope activities as a sales associate

Define a Florida resident-

• Resided in Florida non-continuously for 1 year

• Resided in Florida continuously for 4 months

• Resided in Florida continuously for 1 year

• Resided in Florida non-continuously for 4 months

Who's exempt from 'Post Licensing Requirements'-

• A licensee who has 2 years of college or higher

• A licensee who has 4 years of college or higher

Prima Facie Evidence =

• Legal term for evidence that proves a case unless refused by other evidence

• Illegal term for evidence that proves a case unless not refused by other evidence

• Legal term for evidence that doesn't prove a case

Salaried Employment Exemption =

• No license = still able to receive bonuses

• License = commission/bonuses

• No license = no commission/bonuses

Define 'Power of Attorney'-

• Legal Document- allows person to become attorney in fact

• Allows person to sign on another's behalf

• Doesn't have the power to sign on another's behalf

• Legal Document- doesn't allow person to become attorney

Know 'Legal Kickback Exemption' for tenants in an apartment-

• General Agents of their brokers with whom they are registered

• Apartment manager pay a tenant for referring a new tenant