In Florida, the standard residential contract is created by:
Question & Answer
Review the question and all answer choices
FREC only
A is incorrect because FREC (Florida Real Estate Commission) regulates real estate practices but does not create standard residential contracts. While FREC oversees licensing and enforcement, contract creation falls to industry and legal professionals.
FAR/BAR (Florida Realtors and Florida Bar)
State Legislature
C is incorrect because the Florida State Legislature creates laws and statutes but not specific residential contracts. Standard contracts are typically developed by industry organizations in collaboration with legal experts, not through legislative action.
Individual brokerages
D is incorrect because individual brokerages may create their own addendums but cannot create the standard residential contract used statewide. Florida has standardized forms created by the collaborative effort of Florida Realtors and The Florida Bar.
Why is this correct?
B is correct because Florida's standard residential contracts are jointly created by Florida Realtors and The Florida Bar. This unique partnership ensures contracts meet both industry needs and legal requirements, providing balanced protection for buyers, sellers, and real estate professionals.
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