Florida License Law
Which of the following best describes a 'group license' in Florida real estate?
AA license held collectively by a brokerage firm's agents
BA license that allows one sales associate to work under multiple brokers
CA license allowing a sales associate employed by an owner-developer to sell properties in multiple subdivisions owned by that developer✓ Correct
DA license granted to a group of investors who form a real estate LLC
Explanation
A group license in Florida allows a sales associate employed by an owner-developer to sell properties in multiple subdivisions or developments owned by that same developer under one license registration.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
1031 ExchangeA tax-deferred exchange allowing investors to sell one investment property and reinvest proceeds in a like-kind property while deferring capital gains taxes.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
State-Specific Concepts
License Law
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