FRECI_5-9 - Lecture Preview Florida Real Estate Commission...

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1 Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 5 – Lecture 9 Real Estate Brokerage Activities Copyright, 2004 2 Lecture Preview What will you learn from this lecture? How a sales associate is compensated Legal and illegal compensation from kickbacks What happens if a licensee changes employers Copyright, 2004 3 Vocabulary Terms Kickbacks 4 Salesperson Compensation paid only by employing broker prohibited from receiving compensation directly from any other source A salesperson is: All listings, contracts, escrows, commissions MUST be accepted in the name of the broker Copyright, 2004 5 Kickbacks All parties are notified prior to payment It is not expressly prohibited Any monies paid to the broker from a third party for the broker’s referral of business to that third party Kickbacks are allowed as long as: Copyright, 2004 6 Prohibited Kickbacks Title insurance Hazard insurance Payment of a referral
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This note was uploaded on 05/21/2011 for the course FREC 1000 taught by Professor Stallone during the Spring '08 term at University of Florida.

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FRECI_5-9 - Lecture Preview Florida Real Estate Commission...

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