A Florida broker operates multiple office locations. One of the branch offices is managed by a sales associate rather than a broker associate. What requirement must be met for this arrangement?
Correct Answer
A) The broker must visit the branch office at least weekly
Florida law requires the broker to visit branch offices managed by sales associates at least weekly to provide proper supervision. A sets an arbitrary experience requirement not found in law. C misunderstands the supervision structure. D incorrectly limits transaction types.
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Broker Thompson's brokerage 'Coastal Properties' merges with another firm and will operate under 'Premier Coastal Realty.' What steps must Thompson take regarding the name change?
Broker Roberts discovers that a sales associate has been operating under an expired license for the past 60 days while continuing to show properties and write contracts. Several transactions are pending closing. What is the broker's most serious immediate concern?
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Real estate broker Sarah discovers that her sales associate Mark has been placing earnest money deposits into his personal checking account instead of the broker's escrow account. Mark claims he always transfers the funds within 24 hours. What should Sarah do according to Florida law?
Earnest money deposits in Florida must be placed in escrow within:
- → Broker Thompson discovers that earnest money from a failed transaction has been sitting in his escrow account for 18 months. The buyer and seller cannot agree on disbursement. What is Thompson's best course of action under Florida law?
- → A Florida broker must register sales associates with DBPR within:
- → The difference between commingling and conversion:
- → Broker Martinez operates under the trade name 'Sunshine Realty' which is properly registered with the state. Can his sales associates use 'Sunshine Realty' in their advertising instead of Martinez's personal name?
- → Sales associate Mike wants to place a 'For Sale' sign on a listed property. Under Florida law, whose name must appear on the sign?
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- → In a Ocala transaction, a buyer wants the Florida rule on misleading claims. Which statement is correct?
- → Sales associate Jennifer wants to advertise her services on Instagram. What must she include in her social media posts to comply with Florida advertising laws?
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