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FREC SALES ASSOCIATE COURSE

Categories: Florida Real Estate

About Course

Course Description:
This comprehensive 63-hour FREC-approved course prepares students for the Florida Real Estate Sales Associate licensing exam and a successful career in real estate. It provides an in-depth understanding of real estate principles, practices, and laws governing property ownership, transfer, financing, and brokerage operations.

Students will explore key topics such as real property rights, agency relationships, contracts, ethics, fair housing, and real estate mathematics. Through interactive lessons, case studies, and exam-style practice questions, participants gain the knowledge and confidence needed to meet state requirements and excel in the real estate profession.

Course Objectives:

– Understand Florida real estate law and licensing requirements.

– Apply professional and ethical standards in real estate transactions.

– Demonstrate proficiency in basic real estate math and calculations.

– Prepare effectively for the Florida Sales Associate licensing exam.

 

Who Should Enroll:
Anyone seeking to become a licensed real estate sales associate in Florida or learn the foundations of the state’s real estate industry.

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Course Content

Course Resources
Syllabus, manuals, and any other relevant course resources.

  • Syllabus
  • Sales Associate Manual
  • Application
  • Acknowledgement

Unit 1: Course Overview: The Real Estate Business
In this unit, you will learn the following: - Describe the various activities of real estate brokerage - Distinguish among the five major sales specialties - Identify the role of property managers - Describe activities that require appraiser services and distinguish among CMA, BPO, and appraisal - Understand the mortgage process and the role of mortgage loan originator - Explain the three phases of development and construction - Distinguish among the three categories of residential construction

Unit 2: Real Estate License Law And Qualifications For Licensure
In this unit, you will learn the following: - Identify the qualifications for a sales associate's license - Describe the application requirements for licensure including nonresident application requirements - Explain the importance of responding accurately and completely to the background information questions on the licensure application - Illustrate the background check procedure conducted by the DBPR - Describe the education requirement for pre- and post-license education and continuing education - Distinguish among the various license categories - Identify services of real estate where licensure is required - Recognize actions that constitute unlicensed activity - Recognize exemptions from real estate licensure - Distinguish between registration and licensure - Explain mutual recognition agreements

Unit 3: Real Estate License Law And Commission Rules
In this unit, you will learn the following: - Describe the composition, appointment and member qualifications of the Florida Real Estate Commission - Define the powers and duties of the Commission - Describe the scope and function of the DBPR and the DRE - Explain the different licensure statuses - Distinguish between active and inactive license status - Describe the regulations regarding involuntarily inactive status - Distinguish between multiple and group licenses

Unit 4: Authorized Relationships, Duties And Disclosure
In this unit, you will learn the following: - Describe which provisions of the Brokerage Relationship Disclosure Act apply only to residential real estate sales and list types of real estate activities that are exempt from the disclosure requirements - Define residential transaction - Distinguish among nonrepresentation, single agent and transaction broker - List and describe the duties owed in the various authorized relationships - Compare and contrast the fiduciary duties owed in a single agent relationship and the duties owed in a transaction broker relationship - Describe the disclosure procedures for the various authorized relationships - Describe the required content and format of the various disclosure forms - Explain the procedure for transition from a single agent to a transaction broker - Describe the disclosure requirements for non-residential transactions where the buyer and seller have assets of $1 million or more - List the events that will cause an authorized relationship to be terminated

Unit 5: Real Estate Brokerage Activities And Procedures
In this unit, you will learn the following: - Identify the requirements for real estate brokerage office(s) and the types of business entities that may register - Explain what determines whether a temporary shelter must be registered as a branch office - List the requirements related to sign regulation - List the requirements related to the regulation of advertising by real estate brokers - Explain the term immediately as it applies to earnest money deposits - Describe the four settlement procedures available to a broker who has received conflicting demands or who has a good-faith doubt as to who is entitled to disputed funds - Describe the obligations placed on a sales associate who changes employers and/or address - Describe the regulations regarding lien rights for unpaid sales commission - Contrast the features and requirements of the various types of business organizations

Unit 6: Violations Of License Law, Penalties And Procedures
In this unit, you will learn the following: - Explain the procedures involved in the reporting of violations, the investigation of complaints and the conduct of hearings - Define the elements of a valid complaint - Discuss the composition of the probable-cause panel - Recognize events that would cause a license application to be denied - Distinguish actions that would cause a license to be subject to suspension or revocation - Identify individuals who would be eligible and the procedure to seek reimbursement from the Real Estate Recovery Fund - Identify individuals who are not qualified to make a claim from the Real Estate Recovery Fund - Describe the monetary limits imposed by law on the Real Estate Recovery Fund - Distinguish among the various penalties that may be issued by a court of law

Unit 7: Federal And State Laws Pertaining To Real Estate
In this unit, you will learn the following: - Explain the significance of the Jones vs. Mayer court case - List the real estate included under the different fair housing acts - Recognize the groups protected under the 1968 Fair Housing Act - List the property exempt from the 1968 Fair Housing Act and the protected classes - List the two protected classed added to the 1988 Fair Housing Amendment - Describe the types of discriminatory acts that are prohibited under the 1968 Fair Housing Act - Describe the HUD process for handling a complaint under the 1968 Fair Housing Act - Describe the objectives and major provisions of the Americans with Disabilities Act - Describe the major provisions of the Florida Residential Landlord and Tenant Act - Describe the major provisions of the Interstate Land Sales Disclosure Act

Unit 8: Property Rights: Estates And Tenancies; Condominiums, Cooperatives, Community Development Districts, Homeowner Associations, And Time-Sharing
In this unit, you will learn the following: - Define real property based on the definition in Chapter 475, F.S. - List and explain the physical components of real property - Explain the four tests courts use to determine if an item is a fixture - Distinguish between real and personal property - Describe the bundle of rights associated with real property ownership - List the principal types of estates (tenancies) and describe their characteristics - Describe the features associated with the Florida homestead law - Distinguish between cooperatives, condominiums and time-shares and describe the four main documents associated with condominiums

Unit 9: Title, Deeds, and Ownership Restrictions
In this unit, you will learn the following: - Differentiate between voluntary and involuntary alienation - Explain the various methods of acquiring title to real property and describe the conditions necessary to acquire real property by adverse possession - Distinguish between actual notice and constructive notice - Distinguish between an abstract of title and a chain of title - Explain the different types of title insurance - Describe the parts of a deed and the requirements of a valid deed - List and describe the four types of statutory deeds and the legal requirements for deeds - List and describe the various types of governmental and private restrictions on ownership of real property - Distinguish among the various types of leases and liens

Unit 10: Legal Descriptions
In this unit, you will learn the following: - Describe the purpose for legal descriptions - Understand the licensee’s role and responsibilities as it pertains to legal descriptions - Explain and distinguish among the three types of legal descriptions - Describe the process of creating a legal description using the metes-and-bounds method - Locate a township by township line and range - Locate a particular section within a township - Understand how to subdivide a section - Calculate the number of acres in a parcel based on the legal description, and convert to square feet - Explain the use of assessor's parcel numbers - Apply the measurements associated with checks, townships and sections

Unit 11: Real Estate Contracts
In this unit, you will learn the following: - List and describe the essentials of a contract - Distinguish among formal, parol, bilateral, unilateral, implied, express, executory and executed contracts - Describe the various ways in which an offer is terminated - Describe the various methods of terminating a contract - Explain the remedies for breach of a contract - Describe the effect of the Statute of Frauds and the Statute of Limitations - Describe the elements of an option - Differentiate among the various types of listings - Explain and describe the various disclosures required in a real estate contract - Recognize what constitutes fraud - Recognize what constitutes culpable negligence

Unit 12: Residential Mortgages
In this unit, you will learn the following: - Distinguish between title theory and lien theory - Describe the essential elements of the mortgage instrument and the note - Describe the various features of a mortgage including down payment, loan-to-value ratio, equity, interest, loan servicing, escrow account, PITI, discount points and loan origination fee - Explain assignment of a mortgage and the purpose of an estoppel certificate - Explain the foreclosure process and distinguish between judicial and nonjudicial foreclosure - Describe the mortgagor’s and mortgagee’s rights in a foreclosure - Calculate loan-to-value ratio - Explain the use of discount points and calculate approximate yield on a loan - Distinguish among the various methods of purchasing mortgaged property

Unit 13: Types of Mortgages and Sources of Financing
In this unit, you will learn the following: - Understand the mechanics and components of adjustable rate mortgages (ARMs) - Describe features of amortized mortgages and use an amortization table - Distinguish among conventional, FHA, VA, and custom mortgage types - Calculate loan qualifying ratios and identify loan features - Explain the roles of primary and secondary mortgage markets - Recognize and prevent mortgage fraud - Understand federal lending regulations including ECOA, TILA, RESPA, and TRID

Unit 14: Real Estate Computations and Closing of Transactions
In this unit, you will learn the following: - Compute real estate sales commissions - Calculate percent of profit or loss - Understand title closing and settlement procedures - Perform prorations for taxes, interest, and rent - Calculate Florida transfer taxes on deeds, mortgages, and notes - Assign debits and credits correctly on a Closing Disclosure - Read and evaluate a Closing Disclosure for errors

Unit 15: Real Estate Markets and Analysis
In this unit, you will learn the following: - Describe the physical and economic characteristics of real estate. - Explain the key factors influencing supply and demand. - Interpret basic market conditions using key market indicators. - Distinguish between a buyer’s market and a seller’s market. - Apply real-world knowledge to assess vacancy rates, sales volume, and permit activity.

Unit 16: Real Estate Appraisal
In this section, you will learn the following: - Describe federal and state regulations pertaining to appraising - Identify the appraisers fiduciary relationship - Identify the economic and physical characteristics of real estate that affect market value - Explain what the Uniform Standards of Professional Appraisal Practice (USPAP) is and how it affects the appraisal process of real property - Distinguish among the various types of value - Define market value and describe its underlying assumptions - Distinguish among value, price and cost - Describe the four characteristics of value - Distinguish among the principles of value - Differentiate among the three approaches to estimating the value of real property - Estimate value of subject property using Comparable Sales Approach - Estimate value of subject property using Cost Approach - Estimate value of subject property using Income Approach - Reconcile three approaches to establish final value estimate - Calculate value using gross multiplier analysis - Explain how to prepare a Comparative Market Analysis (CMA), comparing and contrasting with sales comparison approach

Unit 17: Real Estate Investments And Business Opportunity Brokerage
In this section, you will learn the following: - Distinguish among the different types of real estate investments - Identify the advantages and disadvantages of investing in real estate - Distinguish among the various types of risk - Explain the importance of investment analysis - Describe the similarities and differences between real estate brokerage and business brokerage - Describe the types of expertise required in business brokerage - Distinguish among the methods of appraising businesses - Describe the steps in the sale of a business

Unit 18: Taxes Affecting Real Estate
In this section, you will learn the following: - Distinguish among immune, exempt and partially exempt property - Describe the various personal exemptions available to qualified owners of homestead property - Compute the property tax on a specific parcel, given the current tax rate, assessed value, eligible exemptions and transfer of assessment limitation difference (save our homes portability) if applicable - List the steps involved in the tax appeal procedure - Describe the purpose of Florida’s Green Belt Law - Calculate the cost of a special assessment, given the conditions and amounts involved - Describe the tax advantages of home ownership - Explain how to determine taxable income of investment real estate - Distinguish between installment sales and like-kind exchange

Section 19: Planning, Zoning, and Environmental Hazards
In this section, you will learn the following: - Describe the composition and authority of the local planning agency - Explain the purpose of land-use controls and the role of zoning ordinances - Identify the provisions of Florida’s comprehensive plan and the Growth Management Act - Distinguish among the five general zoning classifications - Distinguish among zoning ordinances, building codes and health ordinances - Explain the purpose of a variance, special exception and a nonconforming use - Calculate the number of lots available for development, given the total number of acres contained in a parcel, the percentage of land reserved for streets and other facilities and the minimum number of square feet per lot - Describe the characteristics of a planned unit development - Understand the basic provisions of the national flood insurance program - Describe the impact Comprehensive Environmental Response Compensation and Liability Act (CERCLA) - Explain the various environmental hazards associated with real estate

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