You need to know – Is a license required for a Broker’s Price Opinion?

A license is required for a Broker’s Price Opinion

You need to know – Do you still have to fulfill the post licensing requirements with an inactive license?

If a license is inactive, the licensee still has the obligation of completing their post-licensing requirements

The fulfillment of the education requirements is not negotiable

You need to know – Can a Sales Associate be paid directly?

Under no circumstances can a Sales Associate be paid directly

Florida Statute 475 states that Sales Associates and Broker Associates can only be compensated directly by their registered employer

You need to know – Once you have passed your test at Pearson Vue how long can you remain inactive?

After passing the state examination (currently administered by Pearson Vue) the status automatically becomes voluntary inactive

A license can remain voluntary inactive indefinitely as long as the renewal requirements are fulfilled

You need to know – Can you have different licenses (such as CAM) while obtaining your real estate license?

In this context the term different licenses means having a license in a field other than real estate

This is acceptable

This should not to be confused with multiple licenses in the real estate industry

You need to know – Can the fee for a Broker’s Price Opinion be based upon a commission percentage?

The fee for a Broker’s Price Opinion cannot be based upon a percentage

It must be a fixed fee

When can I take my State examination?

A student recently asked “if I need my fingerprints and everything to be registered with the state before I can apply to take the test”

Using the Candidate Information Booklet

When you read the Candidate Information Booklet you will see that the content areas have percentages alongside them

What is the difference between Gross and Net?

Gross means before any deductions

Net means after deductions

Gross and net are often used in describing leases

A gross lease is one where the the landlord receives his return in the form of rent before payment of any expenses; the tenant pays a fixed amount of rent per month.  The landlord then pays all the expenses of the property from his gross rent

A net lease is one where the landlord receives his return in the form of rent after payment of expenses; the tenant pays a fixed amount of rent per month AND an additional amount in respect of the expenses of the property (often termed a CAM payment in commercial leases).  The landlord then pays the expenses of the property from the contributions received from his tenants

What is a Construction Defect?

A construction defect is a flaw in the design or construction of a building

The defect reduces the value of the property and may or not cause a danger

The defect may be visible and immediately obvious (such as water seepage) or invisible and not be detected for many years (such as Chinese drywall)