Sales Associate Karen tells Broker Smith that she has been working weekends at another real estate brokerage without his knowledge. What action must Broker Smith take under Florida law?
Correct Answer
A) Immediately terminate Karen's registration with his brokerage
Correct: Sales associates cannot work for multiple brokers simultaneously under F.S. 475.42, and the broker must terminate the registration immediately. Why not B: While this may be appropriate, the immediate duty is termination. Why not C: Commission splitting doesn't cure the violation of working for multiple brokers. Why not D: The violation has already occurred and requires immediate termination.
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- → 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?
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- → 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?
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Under Florida law, a broker is NOT required to do which of the following regarding transaction records?
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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?