licensee: Licensees Current Mailing Address - 06/28/15 03:07 PM
Current Mailing AddressLicensees are responsible for notifying the DBPR in writing of their current mailing address, email address, and place of practice. Current mailing address is the current residential address a licensee uses to receive mail through the U.S. Postal Service. A post office box is an acceptable mailing address. The DBPR sends official communication to a licensee at the last known mailing address or email address, referred to by the DBPR as the address of record.
Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Licensees may mail or fax the appropriate form to the … (0 comments)

licensee: Drafting A Special Clause For A Sale Contract - 08/27/12 05:14 AM
 
Real estate brokers may prepare listing agreements, sale contracts, option contracts, and lease agreements (on the Supreme Court-approved form) in the course of their business. Real estate licensees should recommend to a buyer or seller to have an attorney draw an option contract or, to reduce liability, licensees should use standardized option contract forms. If an advertisement states that, for a fee, a licensee would complete or review contracts for persons not buying through the licensee, that licensee would be practicing law.
Licensees should not prepare legal documents such as deeds, mortgages, and promissory notes. Activities of this nature may … (0 comments)

licensee: Before Buyers Begin Looking - 02/22/12 10:43 AM
Before buyers begin looking at houses, they should have a good understanding of their own financial capabilities and housing objectives. Licensees should explain both issues to their customers to help them understand the importance of getting preapproved. This is important because if a loan application is denied, the applicant may lose the opportunity to buy the home. In addition, some expense is involved in applying for a loan. Fees may range from $150 to $500.
Licensees should advise buyers to look for competitive rates and a lender with a reputation for integrity and good service. Lenders charge a variety of fees a … (1 comments)

licensee: Preparing the Customer to Buy - 02/19/12 07:39 PM
The successful sales associate will prepare the customer for signing the contract long before the right property is found. After qualifying the buyer's, the sales associate should give the buyer a copy of the contract for purchase and sale and explain the more important paragraphs to the buyer.The explanation of the contract serves two important functions:
If the buyer receives important information from the sales associate at their first meeting, this works to cement the buyer’s loyalty to the associate. When the buyer becomes interested in a particular property, they are not startled when the sales associate pulls out a contract … (1 comments)

licensee: "A picture is worth a thousand words" - 10/18/11 02:40 AM
"A picture is worth a thousand words" is a timeworn expression because it is true. Sellers who review CMAs with licensees often have difficulty visualizing the comparable properties. The licensee who provides visual data can make a clearer presentation, and that may result in more realistic pricing.
Owners who are motivated to sell do not set out to over-price their properties. Overpricing is usually the result of an inadequate understanding of the market, and that responsibility belongs to the listing sales associate.
Valuable visual aids include plat maps of the subdivision and pictures of the compae rable properties. The plat map … (5 comments)

licensee: The Law of Increasing Returns - 10/17/11 02:51 AM
Any improvement to a property, whether to vacant land or a building, is worth only what it adds to the property's market value. An improvement's contribution to the value of the entire property may be greater or smaller than its cost. A licensee's opinion should be governed by a feature's contribution to value, not its actual cost.Improvements to land and structures can reach a point at which they have no positive effect on property values. As long as money spent on such improvements produces a proportionate increase in income or value, the law of increasing returns is in effect. When additional … (0 comments)

licensee: Appraising Real Property - 06/12/11 05:12 PM
To  appraise real property means to estimate it's value.   Appraising is considered to be an art, not a science, because although the appraisal process involves mathematical calculations, appraisers also use their own judgment when appraising real property.  
Active real estate licensees are allowed to preform a Comparative Market Analysis (CMA) A CMA is an informal estimate of market value preformed by a real estate licensee to assist a seller in arriving at an appropriate listing price,  or if working with a buyer, an informal estimate of market value to assist the buyer in arriving at an appropriate offering price.
This information is … (0 comments)

licensee: Dual Agency in Florida - 05/28/11 02:11 AM
It is illegal in Florida for a real estate licensee to operate as a dual agent.  Dual Agency means a broker who represents as a fiduciary  to both the buyer and the seller in a real estate transaction
Fiduciary is a relationship of trust and confidence between broker as agent and the principal. Florida law prohibits a broker from creating a fiduciary relationship with both the buyer and the seller
Information is courtesy of Rowlett Real Estate School LLC and Captain Wayne Rowlett.
For information on our classroom courses and online courses visit our website at www.rowlettrealestateschool.com  Check out our website for a … (2 comments)

licensee: Sales Contracts - 03/20/11 01:16 PM
•A sales contract is a written agreement containing the terms for the transfer of real property and requires the signatures of all parties to the agreement.
The Florida Association of REALTORS and the Florida Bar Association jointly developed a standard residential contract form called the FAR/BAR Contract for Sale and Purchase and the Residential Purchase and Sale Contract.
-These two contracts are the most widely used in Florida and are intended for use in routine transactions involving the sale of single-family dwellings or vacant land. - Other transactions, such as the sales of businesses. Construction. or lease options, usually require contracts … (2 comments)

licensee: Disclosing Property Condition - 03/13/11 02:54 PM
When selling real property, sellers and licensees must reveal all known facts that materially affect the value of residential property that are not readily observable to the buyer.  Some licensees work under the theory of "don't ask, don't tell.'' This can be the recipe for a lawsuit.
To protect the parties to a contract and to reduce their liability, licensees should use a Seller's Real Property Disclosure Statement similar to the one shown in the Forms-To-Go section. -This disclosure is a detailed fact sheet about a property, prepared and signed by the seller and given to a buyer before the contract … (0 comments)

licensee: Florida Residency Defined - 02/13/11 09:54 PM
-It does not matter whether the place of residence is a recreational vehicle, hotel, rental unit, or any other temporary or permanent location.
A resident licensee who moves out of the state must notify the Commission of the address change within 10 days and comply with all nonresident requirements within 60 days
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"Let Your Career Start Here!" www.RowlettRealEstateSchool.com
For our Florida Real Estate Classroom Schedule in Panama City and Destin Florida, visit our website athttp://www.rowlettrealestateschool.com/fl-schedule.htm
P.Stone, RRES
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