Penalties Issued by the FREC (Major Offenses)
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Welcome to the course!
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The Real Estate Business
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Law & Qualifications
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License Law And Commission Rules
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Authorized Relationships, Duties, And Disclosure
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Brokerage Offices and Branch Requirements
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Violations Of License Law, Penalties And Procedures
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Chapter 8
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Property Rights
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Title, Deeds And Ownership Restrictions
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Legal Descriptions
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Real Estate Contracts
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Residential Mortgages
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Types of mortgages
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Real Estate Related Computations And Closing Of Transactions
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The Real Estate Markets And Analysis
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Real Estate Appraisal
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Real Estate Investments And Business Opportunity Brokerage
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Taxes Affecting Real Estate
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Planning, Zoning And Environmental Hazards
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Course Assessments
FLORIDA REAL ESTATE SALES ASSOCIATE COURSE
Violations Of License Law, Penalties And Procedures
Section 12 of 18
The Florida Real Estate Commission (FREC) handles the serious stuff. They have a "menu" of punishments they can combine.Reprimand - A "slap on the wrist." It is a public letter of criticism included in your permanent file.Probation - You can keep working, but you are watched closely. You might have to check in regularly or take extra classes.Administrative Fine - The FREC can fine you up to $5,000 per violation of Chapter 475 or Chapter 455. Suspension - You are banned from practicing real estate for a period of time. A license can be suspended for up to 10 years.Permanent Revocation - The "Death Penalty" for a license. You are out of the business forever.Revoke Without Prejudice - This is rare. It means the license is cancelled, but not because you were "bad" (e.g., a license was issued by mistake). You can reapply.
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