FL Real Estate study guide
FL Real Estate · Work through your exam, one topic at a time.
The Florida Real Estate Sales Associate Examination is the state licensing exam that a candidate must pass to be issued a Florida real estate sales associate license by the Department of Business and Professional Regulation. It is intended for people entering the brokerage business - new entrants, career changers, and out-of-state licensees seeking Florida licensure - who have completed the required pre-licensing coursework and had an application approved. The FL Real Estate study guide has 10 sections and about 3,229 words.
01The Real Estate Business
Real estate is both a physical asset and a business. Separate real estate (land plus improvements) from real property (the bundle of rights that accompanies ownership).
306 words, about 2 min02License Law and Regulation
Florida real estate licensing lives in Chapter 475, Part I, Florida Statutes, and the rules of the Florida Real Estate Commission (FREC) in Chapter 61J2. FREC sits within the Division of Real Estate of the Department of Business and Professional Regulation (DBPR) and has seven members appointed by the Governor: four brokers, two sales associates, and one consumer member.
360 words, about 2 min03Law of Agency
Florida recognizes three brokerage relationships: single agent , transaction broker , and no brokerage relationship . Since 1997 the default is transaction broker unless the parties agree in writing to single agency.
293 words, about 1 min04Real Estate Contracts
A contract is a promise enforceable at law. Required elements are offer, acceptance, consideration, legality of object, and competent parties, plus a writing for real property transactions.
344 words, about 2 min05Property Rights: Estates and Ownership
An estate is a person's interest in land. Freehold estates last indefinitely; less-than-freehold estates are leaseholds.
325 words, about 2 min06Title, Deeds, and Ownership Restrictions
Title is evidence of ownership. Voluntary alienation occurs by deed or will; involuntary alienation by foreclosure, tax sale, eminent domain, adverse possession, or escheat.
316 words, about 2 min07Legal Descriptions
Florida accepts three description systems: metes and bounds, lot and block, and the government rectangular survey. Starts at a point of beginning , then follows courses (bearings) and distances back to the POB.
301 words, about 2 min08Real Estate Finance
A mortgage loan has two documents: the note (the promise to repay) and the mortgage (the lien securing it). Florida uses mortgages rather than deeds of trust.
335 words, about 2 min09Real Estate Appraisal and Valuation
Market value assumes a willing buyer and seller, both informed and unpressured, with reasonable exposure time. Contrast it with assessed value, insurable value, book value, liquidation value, and investment value.
315 words, about 2 min10Closing and Real Estate Math
Closing is where title transfers and money moves. The closing statement lists buyer and seller debits and credits: debits are charges, credits are amounts received on a party's behalf.
334 words, about 2 min