Property Management
A Florida property manager who also holds a real estate license charges a fee for finding tenants. This activity:
ARequires no license since property management is separate from real estate
BRequires a real estate license because leasing for compensation constitutes real estate activity✓ Correct
CRequires only a property management certification
DOnly requires a business license from the city
Explanation
In Florida, leasing, renting, or managing real property for others for compensation constitutes real estate activity requiring a real estate license under Chapter 475 F.S.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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