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?
Correct Answer
C) Written disclosure of Mike's license status must be made to all parties
Correct: Under F.S. 475.25, licensees must provide written disclosure of their license status when purchasing property, even through their own brokerage. Why not A: License status must always be disclosed regardless of personal use. Why not B: Written disclosure is required, not just oral. Why not D: Using another brokerage is not required if proper disclosures are made.
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Under Florida law, a broker does NOT have the authority to do which of the following without specific written authorization?
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Broker Lopez discovers that her brokerage's errors and omissions insurance has lapsed. She has several pending transactions. What is her immediate obligation under Florida regulations?