Broker Maria discovers that her sales associate has been depositing earnest money checks into his personal account instead of the brokerage's escrow account. What is Maria's primary responsibility under Florida law?
Correct Answer
A) Report the associate to FREC immediately and terminate employment
Correct: Under F.S. 475.25, brokers must report violations immediately to FREC and take corrective action including termination for serious violations like commingling funds. Why not B: There is no grace period for correcting escrow violations. Why not C: Transferring doesn't eliminate the broker's duty to report. Why not D: Written warnings are insufficient for serious escrow violations.
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Sales associate David wants to create business cards for networking events. What must appear on his business cards to comply with Florida law?
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?
- → Sales associate Carmen wants to create business cards for networking events. According to Florida advertising requirements, what information must appear on her business cards?
- → According to Florida statute, what constitutes 'advertising' in real estate practice?
- → Under Florida real estate law, what constitutes 'advertising' for regulatory purposes?
- → 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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Scenario Harbor Review raises this Florida point. In a Tallahassee transaction, a closing coordinator wants the Florida rule on branch office supervision. Which statement is correct?
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Broker Johnson receives a complaint from a seller claiming his sales associate failed to present a backup offer. The associate claims he never received the backup offer. What must Broker Johnson do first under Florida regulations?