What must be true for a corporation to conduct real estate activities?
the business under which real estate activities are performed, all must have at least one licensed real estate broker under whom all activities of the business are conducted. Certain individuals in certain roles do not need to obtain a real estate license to fulfill that role.
Which of the following best describes the overall purpose of FS 475?
Which of the following best describes the overall purpose of F.S. 475? To protect consumers. “The Department” refers to which government entity? The Department of BUsiness and Professional Regulation (DBPR).
What is the most common complaint filed against realtors?
The most common lawsuits brought against real estate agents are for breach of duty because clients place trust in their agents’ expertise and their agent must act in the best interest of the client.
How do local communities regulate real estate?
The local government regulates the owners of your association through zoning, taxes them on your real estate and personal property, and provides services such as schools and law enforcement, just for starters. You see the local government at work, providing your community services for that tax money.
What does the real estate law require that every broker has in regards to his or her salespeople?
The real estate law requires that every broker must have a written agreement with each of his or her salespeople.
Can you sue an estate agent for misrepresentation?
Yes. You cannot pull out of the sale after you have exchanged contracts, but you can sue the seller for misrepresentation if they have missold the property and you have suffered detriment as a result.
Who owes fiduciary duties in a single relationship?
Who owes fiduciary duties in a single agency relationship? The single agency relationship is the only one that establishes a fiduciary relationship, which legally allows the seller or buyer as principal to place trust and confidence in the broker as his or her agent.
Which is the best method to identify a property?
That’s why using a legal description is the most accurate way to identify real estate. A legal description can be long and look complicated, but it’s a more precise method of describing where a property is located.
What is unethical conduct in real estate?
There are four principle ways in which agents cheat customers: failing to tell sellers of higher bids when lower bids provide the agents with more commission through mortgage and insurance needs; switching second bidders to other properties when buyers are in short supply; selling unnecessary insurance or the wrong …
Which of the following best defines negligent misrepresentation?
This is an unintentional misstatement or omission. Negligence is defined as the failure to use ordinary or reasonable care in a situation. So negligent misrepresentation is usually the result of an agent giving information carelessly or failing to verify a fact before passing it to the buyer.
Which is not commonly an area of federal government interference?
Which is NOT commonly an area of federal government interference in real property? absentee owners.
What is the most important issue for a broker acting as a property manager to?
Which is the most important issue for a broker acting as a property manager to accomplish? to get maximum income in while preserving the value of the investment.