Flordia Real Estate - Unit 5 - Notes.docx - Unit 5 Real Estate Brokerage Activities and Procedures Brokerage Offices o All active Florida real estate

Flordia Real Estate - Unit 5 - Notes.docx - Unit 5 Real...

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Unit 5: Real Estate Brokerage Activities and ProceduresBrokerage OfficesoAll active Florida real estate brokers are required to have an office and to register the office with the Department of Business and Professional Regulation (DBPR). oA broker’s office must consist of at least one enclosed room in a building of stationary construction that will provide privacy to conduct negotiations and closings of real estate transactions. oFlorida law does not require the broker to have a telephone, desk, business checking account, or an escrow account. oA broker may have an office or offices in another state, provided the broker agrees in writing to cooperate with any investigations initiated under Chapter 475, F.S.oSales associates are not permitted to open offices of their own. They must be registered from and work out of an office maintained and registered in the name of their employer.Branch OfficesoA broker who desired to conduct business from additional locations must register each additional location as a branch office and pay the appropriate registration fees.Branch Office RegistrationsoThe FREC may insist that a broker open and register a branch office whenever the FREC decided that the business conducted at a place other than the principal office is of such nature that the public interest requires registration of a branch office.Registrations issued to Branch Offices are not transferableoSuppose a broker decides to close one branch office and open a new branch office at a different location. Even though these actions may take place at the same time, the registration of the closed office may not be transferred to another office. The new location must be registered, and the fee paid.Temporary SheltersoA temporary shelter in a subdivision being sold by a broker is not a branch office if the shelter is intended only for the protection of customers and sales associates. But if sales associates are permanently assigned there and sale transactions are closed there, then the temporary structure must be registered as a branch office.
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Unit 5: Real Estate Brokerage Activities and ProceduresOffice SignsoActive real estate brokers must display an official sign on either the exterior or the interior of the entrance to their principal office and all branch offices.oThe sign must be easily observed and read by anyone entering the office.oThe sign must contain the following information:Trade name (if one is used)Broker’s nameThe words “Licensed Real Estate Broker” or “Lic. Real Estate Broker”Example of a SoleProprietor with a TradeName Sign oThe name of thesales associates and broker associates are not required on the entrance sign. oA line or observable space must separate the names of the real estate brokers from the names of the sales associates or broker associates.
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