Under Florida law, a broker does NOT have the authority to do which of the following without specific written authorization?
Correct Answer
C) Sign purchase contracts on behalf of clients
Correct: Brokers cannot sign purchase contracts on behalf of clients without specific power of attorney or written authorization under F.S. 475.25. Why not A: Brokers can sign listing agreements as part of their brokerage operations. Why not B: Accepting earnest money is a standard broker duty. Why not D: Supervision of associates is a required broker responsibility.
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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?
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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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Broker Chen receives a subpoena requesting transaction records from a divorce proceeding. The records involve confidential client information. What should Chen do under Florida law?
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Sales Associate Mike informs Broker Davis that he wants to purchase a property listed by their brokerage for his personal residence. What disclosure requirements apply under Florida law?