1997 Florida Statutes - Chapter 475, PART I

REAL ESTATE BROKERS,
SALESPERSONS, AND SCHOOLS



Recent action by Florida Legislature:

These changes are not yet reflected in the statutes below.

Snitch Statute is gone. Won't be required to tell on others in the industry who break the law.

LLCs can be registered as brokerage firms. Limited Liability Company gets the liability protection of a corporation and the taxation of a partnership.

Commercial brokerage firms can appoint designated sales representatives to represent both the buyer and the seller in the same transaction (almost dual agency). Buyers and sellers must be "sophisticated," and have at least $1 million in net worth.

Brokers won't be disciplined for not checking to see that the salesperson has completed the required continuing education.




490.001 Purpose.

475.01 Definitions.

475.011 Exemptions.

475.02 Florida Real Estate Commission.

475.021 Division of Real Estate.

475.03 Delegation of powers and duties; legal services.

475.04 Duty of commission to educate members of profession.

475.045 Florida Real Estate Commission Education and Research Foundation; Foundation Advisory Committee.

475.05 Power of commission to enact bylaws, rules, and regulations and decide questions of practice.

475.10 Seal.

475.125 Fees.

475.15 Registration and licensing of general partners, members, officers, and directors of a firm.

475.17 Qualifications for practice.

475.175 Examinations.

475.180 Nonresident licenses.

475.181 Licensure.

475.182 Renewal of license; continuing education.

475.183 Inactive status.

475.215 Multiple licenses.

475.22 Broker to maintain office and sign at entrance of office; registered office outside state; broker required to cooperate in investigation.

475.23 License to expire on change of address.

475.24 Branch office; fees.

475.25 Discipline.

475.255 Determination of agency or transactional brokerage relationship.

475.2701 Short title.

475.272 Purpose.

475.274 Scope of coverage.

475.276 Notice of nonrepresentation.

475.278 Authorized brokerage relationships; required disclosures.

475.28 Rules of evidence.

475.2801 Rules.

475.31 Final orders.

475.37 Effect of reversal of order of court or commission.

475.38 Payment of costs.

475.41 Contracts of unlicensed person for commissions invalid.

475.42 Violations and penalties.

475.421 Publication of false or misleading information; promotion of sales, leases, rentals; penalty.

475.422 Disclosure.

475.43 Presumptions.

475.451 Schools teaching real estate practice.

475.4511 Advertising by real estate schools.

475.452 Advance fees; deposit; accounting; penalty; damages.

475.453 Rental information; contract or receipt; refund; penalty.

475.455 Exchange of disciplinary information.

475.482 Real Estate Recovery Fund.

475.483 Conditions for recovery; eligibility.

475.4835 Commission powers upon notification of commencement of
action.

475.484 Payment from the fund.

475.485 Investment of the fund.

475.486 Rules; violations.

475.5015 Brokerage business records.

475.5017 Injunctive relief; powers.

490.001 Purpose.--The Legislature finds that a significant number of real property
transactions are facilitated by real estate brokers and salespersons and that it is
necessary to assure the minimal competence of real estate practitioners in order to
protect the public from potential economic loss; therefore, the Legislature deems it
necessary in the interest of the public welfare to regulate real estate brokers,
salespersons, and schools in this state.

475.01 Definitions.--

(1) As used in this part:

(a) "Broker" means a person who, for another, and for a compensation or
valuable consideration directly or indirectly paid or promised, expressly or
impliedly, or with an intent to collect or receive a compensation or valuable
consideration therefor, appraises, auctions, sells, exchanges, buys, rents, or
offers, attempts or agrees to appraise, auction, or negotiate the sale,
exchange, purchase, or rental of business enterprises or business opportunities
or any real property or any interest in or concerning the same, including
mineral rights or leases, or who advertises or holds out to the public by any
oral or printed solicitation or representation that she or he is engaged in the
business of appraising, auctioning, buying, selling, exchanging, leasing, or
renting business enterprises or business opportunities or real property of
others or interests therein, including mineral rights, or who takes any part in
the procuring of sellers, purchasers, lessors, or lessees of business enterprises
or business opportunities or the real property of another, or leases, or interest
therein, including mineral rights, or who directs or assists in the procuring of
prospects or in the negotiation or closing of any transaction which does, or is
calculated to, result in a sale, exchange, or leasing thereof, and who receives,
expects, or is promised any compensation or valuable consideration, directly
or indirectly therefor; and all persons who advertise rental property
information or lists. A broker renders a professional service and is a
professional within the meaning of s. 95.11(4)(a). Where the term "appraise"
or "appraising" appears in the definition of the term "broker," it specifically
excludes those appraisal services which must be performed only by a
state-licensed or state-certified appraiser, and those appraisal services which
may be performed by a registered appraiser as defined in part II. The term
"broker" also includes any person who is a general partner, officer, or director
of a partnership or corporation which acts as a broker. The term "broker"
also includes any person or entity who undertakes to list or sell one or more
timeshare periods per year in one or more timeshare plans on behalf of any
number of persons, except as provided in ss. 475.011 and 721.20.

(b) "Broker-salesperson" means a person who is qualified to be issued a
license as a broker but who operates as a salesperson in the employ of
another.

(c) "Commission" means the Florida Real Estate Commission.

(d) "Customer" means a member of the public who is or may be a buyer
or seller of real property and may or may not be represented by a real estate
licensee in an authorized brokerage relationship.

(e) "Department" means the Department of Business and Professional
Regulation.

(f) "Fiduciary" means a broker in a relationship of trust and confidence
between that broker as agent and the seller or buyer as principal. The duties
of the broker as a fiduciary are loyalty, confidentiality, obedience, full
disclosure, and accounting and the duty to use skill, care, and diligence.

(g) "First contact" means at the commencement of the initial meeting of or
communication between a licensee and a seller or buyer; however, the term
does not include:

1. A bona fide "open house" or model home showing that does not involve
eliciting confidential information; the execution of a contractual offer or an
agreement for representation; or negotiations concerning price, terms, or
conditions of a potential sale;

2. Unanticipated casual encounters between a licensee and a seller or
buyer that do not involve eliciting confidential information; the execution of a
contractual offer or an agreement for representation; or negotiations
concerning price, terms, or conditions of a potential sale;

3. Responding to general factual questions from a prospective buyer or
seller concerning properties that have been advertised for sale; or

4. Situations in which a licensee's communications with a customer are
limited to providing general factual information, oral or written, about the
qualifications, background, and services of the licensee or the licensee's
brokerage firm.

In any of the situations described in subparagraphs 1.-4., "first contact"
occurs when the communications between the licensee and the prospective
seller or buyer proceed in any way beyond the conditions or limitations
described in subparagraphs 1.-4.

(h) "Involuntarily inactive status" means the licensure status that results
when a license is not renewed at the end of the license period prescribed by
the department.

(i) "Principal" means the party with whom a real estate licensee has entered
into a single agent relationship.

(j) "Real property" or "real estate" means any interest or estate in land and
any interest in business enterprises or business opportunities, including any
assignment, leasehold, subleasehold, or mineral right; however, the term does
not include any cemetery lot or right of burial in any cemetery; nor does the
term include the renting of a mobile home lot or recreational vehicle lot in a
mobile home park or travel park.

(k) "Salesperson" means a person who performs any act specified in the
definition of "broker," but who performs such act under the direction, control,
or management of another person. A salesperson renders a professional
service and is a professional within the meaning of s. 95.11(4)(a).

(l) "Single agent" means a broker who represents, as a fiduciary, either the
buyer or seller but not both in the same transaction.

(m) "Transaction broker" means a broker who provides limited
representation to a buyer, a seller, or both, in a real estate transaction, but
does not represent either in a fiduciary capacity or as a single agent.

(n) "Voluntarily inactive status" means the licensure status that results when
a licensee has applied to the department to be placed on inactive status and
has paid the fee prescribed by rule.

(2) The terms "employ," "employment," "employer," and "employee," when
used in this chapter and in rules adopted pursuant thereto to describe the
relationship between a broker and a salesperson, include an independent
contractor relationship when such relationship is intended by and established
between a broker and a salesperson. The existence of such relationship shall
not relieve either the broker or the salesperson of her or his duties,
obligations, or responsibilities under this chapter.

(3) Wherever the word "operate" or "operating" as a broker,
broker-salesperson, or salesperson appears in this chapter; in any order, rule,
or regulation of the commission; in any pleading, indictment, or information
under this chapter; in any court action or proceeding; or in any order or
judgment of a court, it shall be deemed to mean the commission of one or
more acts described in this chapter as constituting or defining a broker,
broker-salesperson, or salesperson, not including, however, any of the
exceptions stated therein. A single such act is sufficient to bring a person
within the meaning of this chapter, and each act, if prohibited herein,
constitutes a separate offense.

475.011 Exemptions.--This part does not apply to:

(1) Any person acting as an attorney in fact for the purpose of the
execution of contracts or conveyances only; as an attorney at law within the
scope of her or his duties as such; as a certified public accountant, as defined
in chapter 473, within the scope of her or his duties as such; as the personal
representative, receiver, trustee, or master under, or by virtue of, an
appointment by will or by order of a court of competent jurisdiction; or as
trustee under a deed of trust, or under a trust agreement, the ultimate purpose
and intent whereof is charitable, is philanthropic, or provides for those having
a natural right to the bounty of the donor or trustor;

(2) Any individual, corporation, partnership, trust, joint venture, or other
entity which sells, exchanges, or leases its own real property; however, this
exemption shall not be available if and to the extent that an agent, employee,
or independent contractor paid a commission or other compensation strictly
on a transactional basis is employed to make sales, exchanges, or leases to or
with customers in the ordinary course of an owner's business of selling,
exchanging, or leasing real property to the public;

(3) Any employee of a public utility, a rural electric cooperative, a railroad,
or a state or local governmental agency who acts within the scope of her or
his employment, for which no compensation in addition to the employee's
salary is paid, to buy, sell, appraise, exchange, rent, auction, or lease any real
property or any interest in real property for the use of her or his employer;

(4) Any salaried employee of an owner, or of a registered broker for an
owner, of an apartment community who works in an onsite rental office of the
apartment community in a leasing capacity;

(5) Any person employed for a salary as a manager of a condominium or
cooperative apartment complex as a result of any activities or duties which the
person may have in relation to the renting of individual units within such
condominium or cooperative apartment complex if rentals arranged by the
person are for periods no greater than 1 year;

(6) Any person, partnership, corporation, or other legal entity which, for
another and for compensation or other valuable consideration, sells, offers to
sell, advertises for sale, buys, offers to buy, or negotiates the sale or purchase
of radio, television, or cable enterprises licensed and regulated by the Federal
Communications Commission pursuant to the Communications Act of 1934.
However, if the sale or purchase of the radio, television, or cable enterprise
involves the sale or lease of land, buildings, fixtures, and all other
improvements to the land, a broker or salesperson licensed under this chapter
shall be retained for the portion of the transaction which includes the land,
buildings, fixtures, and all other improvements to the land; or

(7) Any full-time graduate student who is enrolled in a
commission-approved degree program in appraising at a college or university
in this state, if the student is acting under the direct supervision of a licensed
broker or a licensed or certified appraiser and is engaged only in appraisal
activities related to the approved degree program. Any appraisal report by
the student must be issued in the name of the supervising individual.

(8)

(a) An owner of one or part of one or more timeshare periods for the
owner's own use and occupancy who later offers one or more of such periods
for resale.

(b) An exchange company, as that term is defined by s. 721.05(14), but
only to the extent that the exchange company is engaged in exchange program
activities as described in and is in compliance with s. 721.18.

(9) Any person registered, licensed, or certified by the department under
part II as an appraiser performing appraisals in accordance with that part.

(10) Any person who appraises under the unit-rule method of valuation a
railroad or railroad terminal company assessed for ad valorem tax purposes
pursuant to s. 193.085.

(11) Any person, partnership, corporation, or other legal entity which, for
another and for compensation or other valuable consideration, rents or
advertises for rent, for transient occupancy, any public lodging establishment
licensed under chapter 509.

475.02 Florida Real Estate Commission.--

(1) There is created within the department the Florida Real Estate
Commission. The commission shall consist of seven members who shall be
appointed by the Governor, subject to confirmation by the Senate. Four
members must be licensed brokers, each of whom has held an active license
for the 5 years preceding appointment; one member must be a licensed
broker or a licensed salesperson who has held an active license for the 2
years preceding appointment; and two members must be persons who are
not, and have never been, brokers or salespersons. At least one member of
the commission must be 60 years of age or older. The current members may
complete their present terms unless removed for cause.

(2) Members shall be appointed for 4-year terms.

475.021 Division of Real Estate.--

(1) All services concerning this chapter, including, but not limited to,
recordkeeping services, examination services, legal services, and investigative
services, and those services in chapter 455 necessary to perform the duties of
this chapter shall be provided by the Division of Real Estate. The commission
may, by majority vote, delegate a duty or duties to the appropriate division
within the department. The commission may, by majority vote, rescind any
such delegation of duties at any time.

(2) The Division of Real Estate shall be funded by fees and assessments of
the commission, and funds collected by the commission shall be used only to
fund real estate regulation.

475.03 Delegation of powers and duties; legal services.--

(1) Any of the duties and powers of the commission, except disciplinary
powers and the power to adopt rules, may be delegated, by resolution, to any
member; but the chair may exercise such duties and powers without such
resolution.

(2) Subject to the prior approval of the Attorney General, the commission
may retain independent legal counsel to provide legal advice to the
commission on a specific matter.

(3) No attorney employed or utilized by the commission shall prosecute a
matter and provide legal services to the commission with respect to the same
matter.

475.04 Duty of commission to educate members of profession.--

(1) The commission shall foster the education of brokers,
broker-salespersons, salespersons, and instructors concerning the ethical,
legal, and business principles which should govern their conduct.

(2) For the purpose of performing its duty under subsection (1) to educate
persons holding a license or permit, the commission may conduct, offer,
sponsor, prescribe, or approve real estate educational courses for all persons
licensed or permitted by the department as brokers, broker-salespersons,
salespersons, or instructors; and the cost and expense of such courses shall
be paid as provided in s. 475.125.

(3) The commission may also publish and sell, at a reasonable price
intended to cover costs, a handbook on this chapter and other publications
intended to be textbooks or guidelines for study and guidance of students,
applicants, licensees, certificateholders, and permitholders, and members of
the general public, copyright of which shall be the property of the state.

475.045 Florida Real Estate Commission Education and Research
Foundation; Foundation Advisory Committee.--

(1)

(a) There is established a Florida Real Estate Commission Education and
Research Foundation, hereinafter referred to as the "foundation," which shall
be administered by the Foundation Advisory Committee.

(b) The purposes, objectives, and duties of the foundation are as follows:

1. To create and promote educational projects to expand the knowledge
of the public and real estate licensees in matters pertaining to Florida real
estate.

2. To augment the existing real estate programs by increasing the number
of teaching personnel and real estate courses in the state in degree-granting
programs in universities and colleges in this state.

3. To conduct studies in all areas that relate directly or indirectly to real
estate or urban or rural economics and to publish and disseminate the findings
and results of the studies.

4. To assist the teaching program in real estate offered by the universities,
colleges, and real estate schools registered pursuant to this chapter in the
state, when requested to do so.

5. To develop and from time to time revise and update materials for use in
the courses in real estate offered by the universities, colleges, and real estate
schools registered pursuant to this chapter in the state, when requested to do
so.

6. To make studies of, and recommend changes in, state statutes and
municipal ordinances; provided, however, that such studies are requested by
the Governor or the presiding officers of the Legislature. The foundation shall
maintain political nonadvocacy.

7. To periodically review the progress of persons conducting such
research and studies. The results of any research project or study shall not be
published or disseminated until it has been reviewed and approved in writing
by the advisory committee or its designated representative.

8. To prepare information of consumer interest concerning Florida real
estate and to make the information available to the public and appropriate
state agencies.

(c) The foundation may make a charge for its publications and may receive
gifts and grants from foundations, individuals, and other sources for the benefit
of the foundation.

(d) A report of the activities and accomplishments of the foundation shall
be published annually.

(e) On or before January 1 of each year, the advisory committee shall file
with the Governor, the presiding officer of each house of the Legislature, and
the secretary of the department a complete and detailed written report
accounting for all funds received and disbursed by the foundation during the
preceding year.

(f) The Auditor General shall audit the financial transactions of the
foundation in each fiscal year.

(2)

(a) There is created the Foundation Advisory Committee which is
composed of nine persons appointed by the Governor without regard to race,
creed, sex, religion, or national origin of the appointee, with the following
representation:

1. Six active real estate licensees, one of whom may be a real estate
salesperson. All licensees shall have been active real estate licensees for at
least the past 5 years.

2. Three members shall be representatives of the general public, and those
appointed after October 1, 1988, shall possess qualifications in the fields of
education, research, or consumer affairs which relate to the committee's
education and research activities. Members representative of the general
public shall not be licensed real estate brokers or salespersons and shall not
have a financial interest, other than as consumers, in the practice of a licensed
real estate broker or salesperson.

(b)

1. No current member of the Florida Real Estate Commission shall be
eligible for appointment to the Foundation Advisory Committee.

2. The chair of the Florida Real Estate Commission or a member of the
commission designated by the chair shall serve as an ex officio nonvoting
member of the advisory committee.

(c)

1. Except for the initial appointees, members of the advisory committee
shall hold office for staggered terms of 4 years, with the terms of three
members expiring on January 31 of each odd-numbered year. The current
members may complete their present terms unless removed for cause.

2. Any vacancy shall be filled by appointment for the unexpired portion of
the term. Each member shall serve until the member's successor is qualified.

3. Each member of the advisory committee is entitled to per diem and
travel expenses as set by legislative appropriation for each day that the
member engages in the business of the advisory committee.

(3) It is grounds for removal from the advisory committee, if:

(a) A broker or salesperson member of the committee ceases to be an
active licensee; or

(b) A public member of the committee acquires a real estate license or a
financial interest in the practice of a licensed real estate broker or salesperson.

(4)

(a) The committee shall elect a chair annually from among its membership.

(b) The committee shall meet not less than semiannually and, in addition,
on call of its chair or on petition of any six of its members.

(c) The advisory committee is subject to the sunshine law pursuant to s.
286.011.

(5)

(a) The advisory committee shall solicit advice and information from real
estate licensees, the commission, universities, colleges, real estate schools
registered pursuant to this chapter and the general public for the purpose of
submitting proposals for carrying out the purposes, objectives, and duties of
the foundation.

(b) The advisory committee shall select the proposals that shall be funded
and shall give priority to projects with the greatest potential for direct or
indirect benefit to the public.

(c) The advisory committee shall select the university or college within the
state or qualified full-time faculty member of a university or college within the
state with the consent of the institution to perform the education study,
research study, or other project in accordance with the purposes, objectives,
and duties of the foundation. In those instances where no university or college
within the state, or qualified full-time faculty member of a university or college
within the state with the consent of the institution, submits an acceptable
proposal, a qualified person or persons may be selected in accordance with
law to perform the education study, research study, or other project in
accordance with the purposes, objectives, and duties of the foundation.

(6)

(a) The director of the Division of Real Estate of the department,
hereinafter referred to as the "director," or her or his designated representative
shall submit to the advisory committee, in advance of each fiscal year, a
budget for expenditures of all funds provided for the foundation in a form that
is related to the proposed schedule of activities for the review and approval of
the advisory committee.

(b) The director shall submit to the advisory committee all proposals
received for its review and approval in developing an educational and
research agenda at the beginning of each fiscal year and shall continuously
inform the advisory committee of changes in its substance and scheduling.

(7) The advisory committee shall have the power and authority to adopt all
rules necessary to administer this section.

(8) Neither the foundation nor the committee shall be permitted to fund or
offer educational courses designed to qualify persons for licensure or the
renewal of licenses pursuant to this chapter.

(9) Neither the foundation nor the committee shall expend any funds for
the purpose of employing staff.

(10) The Treasurer shall invest $3 million from the portion of the
Professional Regulation Trust Fund credited to the real estate profession,
under the same limitations as applied to investments of other state funds, and
the income earned thereon shall be available to the foundation to fund the
activities and projects authorized under this section. However, any balance of
such interest in excess of $1 million shall revert to the portion of the
Professional Regulation Trust Fund credited to the real estate profession. In
the event the foundation is abolished, the funds in the trust fund shall revert to
such portion of the Professional Regulation Trust Fund.

475.05 Power of commission to enact bylaws, rules, and regulations
and decide questions of practice.--The commission may enact bylaws and
regulations for its own government and rules in the exercise of its powers, not
in conflict with the constitution and laws of the United States or of this state,
and amend the same at its pleasure. The commission may decide questions of
practice arising in the proceedings before it, having regard to this chapter and
the rules then in force. Printed copies of rules, or written copies under the seal
of the commission, shall be prima facie evidence of their existence and
substance, and the courts shall judicially notice such rules. The conferral or
enumeration of specific powers elsewhere in this chapter shall not be
construed as a limitation of the general powers conferred by this section.

475.10 Seal.--The commission shall adopt a seal by which it shall
authenticate its proceedings. Copies of the proceedings, records, and acts of
the commission, and certificates purporting to relate the facts concerning such
proceedings, records, and acts, signed by the chair, the custodian of such
records, or another person authorized to make such certification and
authenticated by such seal, shall be prima facie evidence thereof in all the
courts of this state.

475.125 Fees.--

(1) The commission by rule may establish fees to be paid for application,
examination, reexamination, licensing and renewal, certification and
recertification, reinstatement, and recordmaking and recordkeeping. The fee
for initial application and examination may not exceed $100. The initial license
fee and the license renewal fee may not exceed $120.00.00 for each year of the
duration of the license. The commission may also establish by rule a late
renewal penalty. The commission shall establish fees which are adequate to
ensure its continued operation. Fees shall be based on estimates made by the
department of the revenue required to implement this chapter and other
provisions of law relating to the regulation of real estate practitioners.

(2) Application and license fees shall be refunded upon a determination by
the commission that the state is not entitled to the fees or that only a portion of
the resources have been expended in the processing of the application, or if
for any other reason the application is not completely processed. The
commission shall implement this provision by rule.

475.15 Registration and licensing of general partners, members,
officers, and directors of a firm.--Each partnership or corporation which
acts as a broker shall register with the commission and shall renew the
licenses or registrations of its members, officers, and directors for each license
period. The registration of a partnership is canceled automatically during any
period of time that the license or registration of any one or more of its partners
is not in force. However, if the partnership is a limited partnership, only the
general partners must be licensed brokers or brokerage corporations
registered pursuant to this part. If the license or registration of at least one
active broker member is not in force, the registration of a corporation or
partnership is canceled automatically during that period of time.

475.17 Qualifications for practice.--

(1)

(a) An applicant for licensure who is a natural person must be at least 18
years of age; hold a high school diploma or its equivalent; be honest, truthful,
trustworthy, and of good character; and have a good reputation for fair
dealing. An applicant for an active broker's license or a salesperson's license
must be competent and qualified to make real estate transactions and conduct
negotiations therefor with safety to investors and to those with whom the
applicant may undertake a relationship of trust and confidence. If the applicant
has been denied registration or a license or has been disbarred, or the
applicant's registration or license to practice or conduct any regulated
profession, business, or vocation has been revoked or suspended, by this or
any other state, any nation, or any possession or district of the United States,
or any court or lawful agency thereof, because of any conduct or practices
which would have warranted a like result under this chapter, or if the applicant
has been guilty of conduct or practices in this state or elsewhere which would
have been grounds for revoking or suspending her or his license under this
chapter had the applicant then been registered, the applicant shall be deemed
not to be qualified unless, because of lapse of time and subsequent good
conduct and reputation, or other reason deemed sufficient, it appears to the
commission that the interest of the public and investors will not likely be
endangered by the granting of registration.

(b) An application may be disapproved if the applicant has acted or
attempted to act, or has held herself or himself out as entitled to act, during
the period of 1 year next prior to the filing of the application, as a real estate
broker or salesperson in the state in violation of this chapter. This paragraph
may be deemed to bar any person from licensure who has performed any of
the acts or services described in s. 475.01(3), unless exempt pursuant to s.
475.011, during a period of 1 year next preceding the filing of the application,
or during the pendency of the application, and until a valid current license has
been duly issued to the person, regardless of whether the performance of the
act or service was done for compensation or valuable consideration.

(2)

(a) In addition to other requirements under this part, the commission may
require the satisfactory completion of one or more of the educational courses
or equivalent courses conducted, offered, sponsored, prescribed, or
approved pursuant to s. 475.04, taken at an accredited college, university, or
community college, at an area technical center, or at a registered real estate
school, as a condition precedent for any person to become licensed or to
renew her or his license as a broker, broker-salesperson, or salesperson. The
course or courses required for one to become initially licensed shall not
exceed a total of 63 classroom hours of 50 minutes each, inclusive of
examination, for a salesperson and 72 classroom hours of 50 minutes each,
inclusive of examination, for a broker. The satisfactory completion of an
examination administered by the accredited college, university, or community
college, by the area technical center, or by the registered real estate school
shall be the basis for determining satisfactory completion of the course.
However, notice of satisfactory completion shall not be issued if the student
has absences in excess of 8 classroom hours. Such required course or
courses must be made available by correspondence or other suitable means
to any person who, by reason of hardship, as defined by rule, cannot attend
the place or places where the course is regularly conducted.

(b) A person may not be licensed as a real estate broker unless, in
addition to the other requirements of law, the person has held:

1. An active real estate salesperson's license for at least 12 months during
the preceding 5 years in the office of one or more real estate brokers licensed
in this state or any other state, territory, or jurisdiction of the United States or
in any foreign national jurisdiction;

2. A current and valid real estate salesperson's license for at least 12
months during the preceding 5 years in the employ of a governmental agency
for a salary and performing the duties authorized in this part for real estate
licensees; or

3. A current and valid real estate broker's license for at least 12 months
during the preceding 5 years in any other state, territory, or jurisdiction of the
United States or in any foreign national jurisdiction.

(3)

(a) The commission may prescribe a postlicensure education requirement
in order for a person to maintain a valid salesperson's license, which shall not
exceed 45 classroom hours of 50 minutes each, inclusive of examination, prior
to the first renewal following initial licensure. If prescribed, this shall consist of
one or more commission-approved courses which total at least 45 classroom
hours on one or more subjects which include, but are not limited to, property
management, appraisal, real estate finance, or the economics of real estate
management. Required postlicensure courses must be taken at an accredited
college, university, community college, 1area technical center, or at a
registered real estate school or given by a commission-approved sponsor.

(b) Satisfactory completion of the postlicensure requirement is
demonstrated by successfully meeting all standards established for the
commission-prescribed or commission-approved institution, or school.
However, notice of satisfactory completion shall not be issued if the student
has absences in excess of 10 percent of the required classroom hours.

(c) The license of any salesperson who does not complete the
postlicensure education requirement prior to the first renewal following initial
licensure shall be considered null and void. Such person wishing to again
operate as a real estate salesperson must requalify by satisfactorily completing
the salesperson's prelicensure course and passing the state examination for
licensure as a salesperson.

(d) A salesperson who is required to complete any postlicensure education
requirement must complete any postlicensure education requirement in order
to be eligible for licensure as a broker.

(4)

(a) The commission may prescribe a postlicensure education requirement
in order for a person to maintain a valid broker's license, which shall not
exceed 60 classroom hours of 50 minutes each, inclusive of examination, prior
to the first renewal following initial licensure. If prescribed, this shall consist of
one or more commission-approved courses which total at least 60 classroom
hours on one or more subjects which include, but are not limited to, advanced
appraisal, advanced property management, real estate marketing, business
law, advanced real estate investment analyses, advanced legal aspects,
general accounting, real estate economics, syndications, commercial
brokerage, feasibility analyses, advanced real estate finance, residential
brokerage, or real estate brokerage office operations. Required postlicensure
courses must be taken at an accredited college, university, community college,
1area technical center, or at a registered real estate school, or be given by a
commission-approved sponsor.

(b) Satisfactory completion of the postlicensure requirement is
demonstrated by successfully meeting all standards established for the
commission-prescribed or commission-approved institution or school.
However, notice of satisfactory completion shall not be issued if the student
has absences in excess of 10 percent of the required classroom hours.

(c) The license of any broker who does not complete the postlicensure
education requirement prior to the first renewal following initial licensure shall
be considered null and void. If the licensee wishes to operate as a
salesperson, she or he may be issued a salesperson's license after providing
proof that she or he has satisfactorily completed the 14-hour continuing
education course within the 6 months following expiration of her or his
broker's license. To operate as a broker, the licensee must requalify by
satisfactorily completing the broker's prelicensure course and passing the state
examination for licensure as a broker.

(5)

(a) The commission may allow an additional 6-month period after the first
renewal following initial licensure for completing the postlicensure education
courses for salespersons and brokers who cannot, due to individual physical
hardship, as defined by rule, complete the courses within the required time.

(b) Except as provided in subsection (4), salespersons and brokers are
not required to meet the 14-hour continuing education requirement prior to
the first renewal following initial licensure.

(c) The commission shall provide for postlicensure education courses to be
made available by correspondence or other suitable means to any person
who, by reason of hardship, as defined by rule, cannot attend the place or
places where courses are regularly conducted.

(6) The postlicensure education requirements of this section, and the
education course requirements for one to become initially licensed, do not
apply to any applicant or licensee who has received a 4-year degree in real
estate from an accredited institution of higher education.

1Note.--The term "area technical center" was substituted for the term "area
vocational-technical center" by the editors pursuant to the directive of the Legislature
in s. 16, ch. 94-232.

475.175 Examinations.--

(1) A person shall be entitled to take the license examination to practice in
this state if the person:

(a) Submits to the department the appropriate notarized application and
fee, two photographs of herself or himself taken within the preceding year,
and fingerprints for processing through appropriate law enforcement agencies;
and

(b) Submits at the time of examination the certificate specified in
subsection (2), the examination admissions card issued by the commission,
and proof of identification.

(2) Each accredited college, university, community college, or registered
real estate school shall notify the commission of the names of all persons who
have satisfactorily completed the educational requirements provided for in s.
475.17(2). Furthermore, each such educational institution shall provide to
each person satisfactorily completing the educational requirements provided
for in s. 475.17(2) a certificate as proof of such satisfactory completion.

475.180 Nonresident licenses.--

(1) Notwithstanding the prelicensure requirements set forth under ss.
475.17(2) and (6) and 475.175, the commission in its discretion may enter
into written agreements with similar licensing authorities of other states,
territories, or jurisdictions of the United States or foreign national jurisdictions
to ensure for Florida licensees nonresident licensure opportunities comparable
to those afforded to nonresidents by this section. Whenever the commission
determines that another jurisdiction does not offer nonresident licensure to
Florida licensees substantially comparable to those afforded to licensees of
that jurisdiction by this section, the commission shall require licensees of that
jurisdiction who apply for nonresident licensure to meet education,
experience, and examination requirements substantially comparable to those
required by that jurisdiction with respect to Florida licensees who seek
nonresident licensure, not to exceed such requirements as prescribed in ss.
475.17(2) and (6) and 475.175.

(2)

(a) Any applicant who is not a resident of this state shall file an irrevocable
consent that suits and actions may be commenced against her or him in any
county of this state in which a plaintiff having a cause of action or suit against
her or him resides, and that service of any process or pleading in suits or
actions against her or him may be made by delivering the process or pleading
to the director of the Division of Real Estate by certified mail, return receipt
requested, and also to the licensee by registered mail addressed to the
licensee at her or his designated principal place of business. Service, when so
made, must be taken and held in all courts to be as valid and binding upon the
licensee as if made upon her or him in this state within the jurisdiction of the
court in which the suit or action is filed. The irrevocable consent must be in a
form prescribed by the department and be acknowledged by a notary public.

(b) Any resident licensee who becomes a nonresident shall, within 60
days, notify the commission of the change in residency and comply with
nonresident requirements. Failure to notify and comply is a violation of the
license law, subject to the penalties in s. 475.25.

(c) All nonresident applicants and licensees shall comply with all
requirements of commission rules and this part. The commission may adopt
rules necessary for the regulation of nonresident licensees.

475.181 Licensure.--

(1) The department shall license any applicant whom the commission
certifies to be qualified to practice as a broker or salesperson.

(2) The commission shall certify for licensure any applicant who satisfies
the requirements of ss. 475.17, 475.175, and 475.180. The commission may
refuse to certify any applicant who has violated any of the provisions of s.
475.42 or who is subject to discipline under s. 475.25. The application shall
expire 1 year from the date received if the applicant fails to take the
appropriate examination.

(3) The department may not issue a license to any applicant who is under
investigation in any other state, territory, or jurisdiction of the United States or
any foreign national jurisdiction for any act that would constitute a violation of
this part or chapter 455 until such time as the investigation is complete and
disciplinary proceedings have been terminated.

475.182 Renewal of license; continuing education.--

(1) The department shall renew a license upon receipt of the renewal
application and fee. The renewal application for an active license as broker,
broker-salesperson, or salesperson shall include proof satisfactory to the
commission that the licensee has, since the issuance or renewal of her or his
current license, satisfactorily completed at least 14 classroom hours of 50
minutes each of a continuing education course during each biennium, as
prescribed by the commission. The commission may accept as a substitute for
such continuing education course, on a classroom-hour-for-classroom-hour
basis, any satisfactorily completed education course that the commission finds
is adequate to educate licensees within the intent of this section. However, the
commission may not require, for the purpose of satisfactorily completing an
approved correspondence course, a written examination that is to be taken at
a centralized location and is to be monitored.

(2) The department shall adopt rules establishing a procedure for the
renewal of licenses at least every 4 years.

(3) Any license which is not renewed at the end of the license period
prescribed by the department shall automatically revert to involuntarily inactive
status. Such license may subsequently be renewed only if the licensee meets
the other qualifications specified in s. 475.183.

(4) Sixty days prior to the end of the license period and automatic
reversion of a license to inactive status, the department shall mail a notice of
renewal and possible reversion to the last known address of the licensee.

475.183 Inactive status.--

(1) A license which has become voluntarily inactive may be renewed
pursuant to s. 475.182 upon application to the department. The commission
shall prescribe by rule continuing education requirements, not to exceed 12
classroom hours for each year the license was inactive, as a condition of
renewing a voluntarily inactive license. The commission shall substitute for
such continuing education requirements, on a
classroom-hour-for-classroom-hour basis, any satisfactorily completed
education course approved in the manner specified in s. 475.182(1). A
person whose license is voluntarily inactive and who renews the license may
elect to continue her or his voluntarily inactive status.

(2) Any license which has been involuntarily inactive for more than 4 years
shall automatically expire. Once a license expires, it becomes null and void
without any further action by the commission or department. Two years prior
to expiration of the license, the department shall give notice to the licensee.
The commission shall prescribe by rule a fee not to exceed $100 for the late
renewal of an involuntarily inactive license. The department shall collect the
current renewal fee for each renewal period in which the license was
involuntarily inactive in addition to any applicable late renewal fee.

(3) The commission shall adopt rules relating to voluntarily inactive and
involuntarily inactive licenses, and for the renewal of such licenses.

475.215 Multiple licenses.--

(1) A licensed broker may be issued upon request additional licenses as a
broker, but not as a salesperson or as a broker-salesperson, whenever it is
clearly shown that the requested additional licenses are necessary to the
conduct of real estate brokerage business and that the additional licenses will
not be used in a manner likely to be prejudicial to any person, including a
licensee under this chapter.

(2) A salesperson or broker-salesperson shall have no more than one
registered employer at any one time.

475.22 Broker to maintain office and sign at entrance of office;
registered office outside state; broker required to cooperate in
investigation.--

(1) Each active broker shall maintain an office, which shall consist of at
least one enclosed room in a building of stationary construction. Each active
broker shall maintain a sign on or about the entrance of her or his principal
office and each branch office, which sign may be easily observed and read by
any person about to enter such office and shall be of such form and minimum
dimensions as shall be prescribed by the commission.

(2) If a broker's registered office is located outside the State of Florida,
prior to registering such office or branch office, the broker shall agree in
writing to cooperate and shall cooperate with any investigation initiated in
accordance with this chapter or commission rules including, but not limited to,
the broker promptly supplying any documents requested by any authorized
representative of the department and by personally appearing at any
designated office of the department or other location in the state or elsewhere
as reasonably requested by the department. If the department sends, by
certified mail to the broker at the broker's last known business address as
registered with the department, a notice or request to produce any documents
or to appear for an interview with an authorized representative of the
department and the broker fails to substantially comply with that request or
notice, then such failure by the broker is a violation of the license law, subject
to the penalties of s. 475.25.


475.23 License to expire on change of address.--A license shall cease
to be in force whenever a broker changes her or his business address, a real
estate school operating under a permit issued pursuant to s. 475.451 changes
its business address, or a salesperson working for a broker or an instructor
working for a real estate school changes employer. The licensee shall notify
the commission of the change no later than 10 days after the change, on a
form provided by the commission.

475.24 Branch office; fees.--Whenever any licensee desires to conduct
business at some other location, either in the same or a different municipality
or county than that in which she or he is licensed, such other place of business
shall be registered as a branch office, and an annual registration fee prescribed
by the commission, in an amount not exceeding $120.00.00, shall be paid for each
such office. It shall be necessary to maintain and register a branch office
whenever, in the judgment of the commission, the business conducted at a
place other than the principal office is of such a nature that the public interest
requires registration of the branch office. Any office shall be deemed to be a
branch office if the name or advertising of a broker having a principal office
located elsewhere is displayed in such a manner as to reasonably lead the
public to believe that such office is owned or operated by such broker.

475.25 Discipline.--

(1) The commission may deny an application for licensure, registration, or
permit, or renewal thereof; may place a licensee, registrant, or permittee on
probation; may suspend a license, registration, or permit for a period not
exceeding 10 years; may revoke a license, registration, or permit; may impose
an administrative fine not to exceed $1,000 for each count or separate
offense; and may issue a reprimand, and any or all of the foregoing, if it finds
that the licensee, registrant, permittee, or applicant:

(a) Has violated any provision of s. 455.227(1) or of s. 475.42.

(b) Has been guilty of fraud, misrepresentation, concealment, false
promises, false pretenses, dishonest dealing by trick, scheme, or device,
culpable negligence, or breach of trust in any business transaction in this state
or any other state, nation, or territory; has violated a duty imposed upon her
or him by law or by the terms of a listing contract, written, oral, express, or
implied, in a real estate transaction; has aided, assisted, or conspired with any
other person engaged in any such misconduct and in furtherance thereof; or
has formed an intent, design, or scheme to engage in any such misconduct and
committed an overt act in furtherance of such intent, design, or scheme. It is
immaterial to the guilt of the licensee that the victim or intended victim of the
misconduct has sustained no damage or loss; that the damage or loss has
been settled and paid after discovery of the misconduct; or that such victim or
intended victim was a customer or a person in confidential relation with the
licensee or was an identified member of the general public.

(c) Has advertised property or services in a manner which is fraudulent,
false, deceptive, or misleading in form or content.

(d)

1. Has failed to account or deliver to any person, including a licensee
under this chapter, at the time which has been agreed upon or is required by
law or, in the absence of a fixed time, upon demand of the person entitled to
such accounting and delivery, any personal property such as money, fund,
deposit, check, draft, abstract of title, mortgage, conveyance, lease, or other
document or thing of value, including a share of a real estate commission if a
civil judgment relating to the practice of the licensee's profession has been
obtained against the licensee and said judgment has not been satisfied in
accordance with the terms of the judgment within a reasonable time, or any
secret or illegal profit, or any divisible share or portion thereof, which has
come into the licensee's hands and which is not the licensee's property or
which the licensee is not in law or equity entitled to retain under the
circumstances. However, if the licensee, in good faith, entertains doubt as to
what person is entitled to the accounting and delivery of the escrowed
property, or if conflicting demands have been made upon the licensee for the
escrowed property, which property she or he still maintains in her or his
escrow or trust account, the licensee shall promptly notify the commission of
such doubts or conflicting demands and shall promptly:

a. Request that the commission issue an escrow disbursement order
determining who is entitled to the escrowed property;

b. With the consent of all parties, submit the matter to arbitration;

c. By interpleader or otherwise, seek adjudication of the matter by a court;
or

d. With the written consent of all parties, submit the matter to mediation.
The department may conduct mediation or may contract with public or private
entities for mediation services. However, the mediation process must be
successfully completed within 90 days following the last demand or the
licensee shall promptly employ one of the other escape procedures contained
in this section. Payment for mediation will be as agreed to in writing by the
parties. The department may adopt rules to implement this section.

If the licensee promptly employs one of the escape procedures contained
herein, and if she or he abides by the order or judgment resulting therefrom,
no administrative complaint may be filed against the licensee for failure to
account for, deliver, or maintain the escrowed property.

2. Has failed to deposit money in an escrow account when the licensee is
the purchaser of real estate under a contract where the contract requires the
purchaser to place deposit money in an escrow account to be applied to the
purchase price if the sale is consummated.

(e) Has violated any of the provisions of this chapter or any lawful order or
rule made or issued under the provisions of this chapter or chapter 455.

(f) Has been convicted or found guilty of, or entered a plea of nolo
contendere to, regardless of adjudication, a crime in any jurisdiction which
directly relates to the activities of a licensed broker or salesperson, or involves
moral turpitude or fraudulent or dishonest dealing. The record of a conviction
certified or authenticated in such form as to be admissible in evidence under
the laws of the state shall be admissible as prima facie evidence of such guilt.

(g) Has had a broker's or salesperson's license revoked, suspended, or
otherwise acted against, or has had an application for such licensure denied,
by the real estate licensing agency of another state, territory, or country.

(h) Has shared a commission with, or paid a fee or other compensation to,
a person not properly licensed as a broker, broker-salesperson, or
salesperson under the laws of this state, for the referral of real estate business,
clients, prospects, or customers, or for any one or more of the services set
forth in s. 475.01(1)(a). For the purposes of this section, it is immaterial that
the person to whom such payment or compensation is given made the referral
or performed the service from within this state or elsewhere; however, a
licensed broker of this state may pay a referral fee or share a real estate
brokerage commission with a broker licensed or registered under the laws of
a foreign state so long as the foreign broker does not violate any law of this
state.

(i) Has become temporarily incapacitated from acting as a broker or
salesperson with safety to investors or those in a fiduciary relation with her or
him because of drunkenness, use of drugs, or temporary mental derangement;
but suspension of a license in such a case shall be only for the period of such
incapacity.

(j) Has rendered an opinion that the title to any property sold is good or
merchantable, except when correctly based upon a current opinion of a
licensed attorney at law, or has failed to advise a prospective purchaser to
consult her or his attorney on the merchantability of the title or to obtain title
insurance.

(k) Has failed, if a broker, to immediately place, upon receipt, any money,
fund, deposit, check, or draft entrusted to her or him by any person dealing
with her or him as a broker in escrow with a title company, banking institution,
credit union, or savings and loan association located and doing business in this
state, or to deposit such funds in a trust or escrow account maintained by her
or him with some bank, credit union, or savings and loan association located
and doing business in this state, wherein the funds shall be kept until
disbursement thereof is properly authorized; or has failed, if a salesperson, to
immediately place with her or his registered employer any money, fund,
deposit, check, or draft entrusted to her or him by any person dealing with her
or him as agent of the registered employer. The commission shall establish
rules to provide for records to be maintained by the broker and the manner in
which such deposits shall be made.

(l) Has made or filed a report or record which the licensee knows to be
false, has willfully failed to file a report or record required by state or federal
law, has willfully impeded or obstructed such filing, or has induced another
person to impede or obstruct such filing; but such reports or records shall
include only those which are signed in the capacity of a licensed broker or
salesperson.

(m) Has obtained a license by means of fraud, misrepresentation, or
concealment.

(n) Is confined in any county jail, postadjudication; is confined in any state
or federal prison or mental institution; is under home confinement ordered in
lieu of institutional confinement; or, through mental disease or deterioration,
can no longer safely be entrusted to competently deal with the public.

(o) Has been found guilty, for a second time, of any misconduct that
warrants her or his suspension or has been found guilty of a course of conduct
or practices which show that she or he is so incompetent, negligent, dishonest,
or untruthful that the money, property, transactions, and rights of investors, or
those with whom she or he may sustain a confidential relation, may not safely
be entrusted to her or him.

(p) Has failed to inform the commission in writing within 30 days after
pleading guilty or nolo contendere to, or being convicted or found guilty of,
any felony.

(q) Has violated any provision of s. 475.276 or s. 475.278, including the
duties owed under those sections.

(r) Has failed in any written listing agreement to include a definite
expiration date, description of the property, price and terms, fee or
commission, and a proper signature of the principal(s); and has failed to give
the principal(s) a legible, signed, true and correct copy of the listing agreement
within 24 hours of obtaining the written listing agreement. The written listing
agreement shall contain no provision requiring the person signing the listing to
notify the broker of the intention to cancel the listing after such definite
expiration date.

(s) Has had a registration suspended, revoked, or otherwise acted against
in any jurisdiction. The record of the disciplinary action certified or
authenticated in such form as to be admissible in evidence under the laws of
the state shall be admissible as prima facie evidence of such disciplinary
action.

(2) A license may be revoked or canceled if it was issued through the
mistake or inadvertence of the commission. Such revocation or cancellation
shall not prejudice any subsequent application for licensure filed by the person
against whom such action was taken.

(3) The department shall reissue the license of a licensee against whom
disciplinary action was taken upon certification by the commission that the
licensee has complied with all of the terms and conditions of the final order
imposing discipline.

475.255 Determination of agency or transactional brokerage
relationship.--Without consideration of the related facts and circumstances,
the mere payment or promise to pay compensation to a licensee does not
determine whether an agency or transactional brokerage relationship exists
between the licensee and a seller, landlord, buyer, or tenant.

475.2701 Short title.--Sections 475.2701-475.2801 may be cited as the
"Brokerage Relationship Disclosure Act."

475.272 Purpose.--In order to eliminate confusion and provide for a
better understanding on the part of customers in real estate transactions, the
Legislature finds that the intent of the Brokerage Relationship Disclosure Act
is to provide that:

(1) Disclosed dual agency as an authorized form of representation by a
real estate licensee in this state is expressly revoked;

(2) Real estate licensees be required to disclose to customers upon first
contact in residential real estate transactions that they are not and will not be
represented by a licensee in a real estate transaction unless they engage a real
estate licensee in an authorized form of representation, either as a single agent
or as a transaction broker;

(3) Disclosure requirements for real estate licensees relating to
nonrepresentation and authorized forms of brokerage representation are
established;

(4) Florida law provides that real estate licensees will operate as single
agents or in a limited representative capacity known as transaction brokers;

(5) Single agents may represent either a buyer or a seller, but not both, in a
real estate transaction; and

(6) Transaction brokers provide a limited form of nonfiduciary
representation to a buyer, a seller, or both in a real estate transaction.

475.274 Scope of coverage.--The authorized brokerage relationships
described in s. 475.278 apply in all brokerage activities as defined in s.
475.01(1)(a). The disclosure requirements of ss. 475.276 and 475.278 apply
only to residential sales as defined in s. 475.276.

475.276 Notice of nonrepresentation.--

(1) APPLICABILITY.--

(a) Residential sales.--The real estate licensee disclosure requirements of
this section and s. 475.278 apply to all residential sales. As used in this
section, the term "residential sales" means the sale of improved residential
property of four units or fewer, the sale of unimproved residential property
intended for use of four units or 1fewer, or the sale of agricultural property of
10 acres or 1fewer.

(b) Disclosure limitations.--The real estate licensee disclosure
requirements of this section and s. 475.278 do not apply to: nonresidential
transactions; the rental or leasing of real property, unless an option to
purchase all or a portion of the property improved with four or 1fewer
residential units is given; auctions; appraisals; and dispositions of any interest
in business enterprises or business opportunities, except for property with four
or 1fewer residential units.

(2) NOTICE REQUIREMENT.--Unless otherwise exempted by this
part, all real estate licensees are required to provide to any potential seller or
buyer at first contact the notice of nonrepresentation as outlined in subsection
(3), except in situations where a licensee knows that the potential seller or
buyer is represented by a single agent or a transaction broker. If first contact
between a licensee and a customer occurs during the course of a telephone
conversation or any other communication in which the licensee is unable to
provide the required notice of nonrepresentation, the licensee shall provide an
oral notice and thereafter provide the required notice of nonrepresentation at
the time of the first face-to-face contact, execution of a brokerage relationship
agreement, or execution of a contractual agreement for purchase and sale,
whichever occurs first.

(3) CONTENTS OF NOTICE.--

(a) Required information.--The notice required under subsection (2)
must contain the following information:

NOTICE OF NONREPRESENTATION


FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES
PROVIDE THIS NOTICE AT FIRST CONTACT TO ALL POTENTIAL
SELLERS AND BUYERS OF REAL ESTATE.

You are hereby notified that _____ _____ _____ _____ (insert name of
brokerage firm) and I do not represent you in any capacity. You should not
assume that any real estate broker or salesperson represents you unless you
agree to engage a real estate licensee in an authorized brokerage relationship,
either as a single agent or as a transaction broker. You are advised not to
disclose any information you want to be held in confidence until you make a
decision on representation. Your signature below acknowledges receipt of
this form and does not establish a brokerage relationship.
__________
Date
__________________________________
(Signature Optional)
__________________________________
(Signature Optional)

(b) Required format.--The notice required under subsection (2) must be
printed as a separate and distinct form on paper no smaller than 81/2 inches
by 11 inches. Nothing may be added to the form except a brokerage firm
logo containing only the firm name, address, and relevant phone numbers. The
form title and first sentence are to be in bold typeface of no less than 16-point
type. The remainder of the form must be of 12-point type or larger.

1Note.--The word "fewer" was substituted by the editors for the word "less."

475.278 Authorized brokerage relationships; required
disclosures.--

(1) AUTHORIZED BROKERAGE RELATIONSHIPS.--A real estate
licensee in this state may enter into a brokerage relationship as either a single
agent or as a transaction broker with potential buyers and sellers. A real
estate licensee may not operate as a disclosed or nondisclosed dual agent. As
used in this section, the term "dual agent" means a broker who represents as a
fiduciary both the prospective buyer and the prospective seller in a real estate
transaction. Once a brokerage relationship is established, this part does not
prevent a licensee from changing from one brokerage relationship to the other
as long as the buyer or the seller, or both, gives consent as required by
subparagraph (3)(c)2. before the change and the appropriate disclosure of
duties as provided in this part is made to the buyer or seller. This part does
not require a customer to enter into a brokerage relationship with any real
estate licensee.

(2) TRANSACTION BROKER RELATIONSHIP.--

(a) Transaction broker-duties of limited representation.--A transaction
broker provides a limited form of representation to a buyer, a seller, or both
in a real estate transaction but does not represent either in a fiduciary capacity
or as a single agent. The duties of the real estate licensee in this limited form of
representation include the following:

1. Dealing honestly and fairly;

2. Accounting for all funds;

3. Using skill, care, and diligence in the transaction;

4. Disclosing all known facts that materially affect the value of real
property and are not readily observable to the buyer;

5. Presenting all offers and counteroffers in a timely manner, unless a party
has previously directed the licensee otherwise in writing;

6. Limited confidentiality, unless waived in writing by a party. This limited
confidentiality will prevent disclosure that the seller will accept a price less
than the asking or listed price, that the buyer will pay a price greater than the
price submitted in a written offer, of the motivation of any party for selling or
buying property, that a seller or buyer will agree to financing terms other than
those offered, or of any other information requested by a party to remain
confidential; and

7. Any additional duties that are mutually agreed to with a party.

(b) Disclosure requirements.--Duties of a transaction broker must be
fully described and disclosed in writing to a buyer or seller either as a separate
and distinct disclosure document or included as part of another document
such as a listing agreement or agreement for representation. The disclosure
must be made before, or at the time of, entering into a listing agreement or an
agreement for representation. When incorporated into other documents, the
required notice must be of the same size type, or larger, as other provisions of
the document and must be conspicuous in its placement so as to advise
customers of the duties of limited representation, except that the first sentence
of the information identified in paragraph (c) must be printed in uppercase and
bold type.

(c) Contents of disclosure.--The required notice given under paragraph
(b) must include the following information in the following form:

FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES
OPERATING AS TRANSACTION BROKERS DISCLOSE TO
BUYERS AND SELLERS THEIR ROLE AND DUTIES IN PROVIDING
A LIMITED FORM OF REPRESENTATION.

As a transaction broker, _____ _____ _____ _____ (insert name of Real
Estate Firm and its Associates), provides to you a limited form of
representation that includes the following duties:

1. Dealing honestly and fairly;

2. Accounting for all funds;

3. Using skill, care, and diligence in the transaction;

4. Disclosing all known facts that materially affect the value of real
property and are not readily observable to the buyer;

5. Presenting all offers and counteroffers in a timely manner, unless a party
has previously directed the licensee otherwise in writing;

6. Limited confidentiality, unless waived in writing by a party. This limited
confidentiality will prevent disclosure that the seller will accept a price less
than the asking or listed price, that the buyer will pay a price greater than the
price submitted in a written offer, of the motivation of any party for selling or
buying property, that a seller or buyer will agree to financing terms other than
those offered, or of any other information requested by a party to remain
confidential; and

7. Any additional duties that are entered into by this or by separate written
agreement.

Limited representation means that a buyer or seller is not responsible for the
acts of the licensee. Additionally, parties are giving up their rights to the
undivided loyalty of the licensee. This aspect of limited representation allows a
licensee to facilitate a real estate transaction by assisting both the buyer and
the seller, but a licensee will not work to represent one party to the detriment
of the other party.
__________
Date
______________________________
Signature
______________________________
Signature

(3) SINGLE AGENT RELATIONSHIP.--

(a) Single agent-duties.--The duties of a real estate licensee owed to a
buyer or seller who engages the real estate licensee as a single agent include
the following:

1. Dealing honestly and fairly;

2. Loyalty;

3. Confidentiality;

4. Obedience;

5. Full disclosure;

6. Accounting for all funds;

7. Skill, care, and diligence in the transaction; and

8. Presenting all offers and counteroffers in a timely manner, unless a party
has previously directed the licensee otherwise in writing.

(b) Disclosure requirements.--

1. Single agent disclosure.--Duties of a single agent must be fully described
and disclosed in writing to a buyer or seller either as a separate and distinct
disclosure document or included as part of another document such as a listing
agreement or other agreement for representation. The disclosure must be
made before, or at the time of, entering into a listing agreement or an
agreement for representation. When incorporated into other documents, the
required notice must be of the same size type, or larger, as other provisions of
the document and must be conspicuous in its placement so as to advise
customers of the duties of a single agent, except that the first sentence of the
information identified in paragraph (c) must be printed in uppercase and bold
type.

2. Transition to transaction broker disclosure.--A single agent relationship
may be changed to a transaction broker relationship at any time during the
relationship between an agent and principal, provided the agent gives the
disclosure required under paragraph (2)(b) and the principal gives to the agent
consent as required under subparagraph (c)2. before a change in relationship.
This disclosure must be in writing to the principal either as a separate and
distinct document or included as part of other documents such as a listing
agreement or other agreements for representation. When incorporated into
other documents, the required notice must be of the same size type, or larger,
as other provisions of the document and must be conspicuous in its placement
so as to advise customers of the duties of limited representation, except that
the first sentence of the information identified in subparagraph (c)2. must be
printed in uppercase and bold type.

(c) Contents of disclosure.--

1. Single agent duties disclosure.--The notice required under subparagraph
(b)1. must include the following information in the following form:

FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES
OPERATING AS SINGLE AGENTS DISCLOSE TO BUYERS AND
SELLERS THEIR DUTIES.

As a single agent, _____ _____ _____ _____ (insert name of Real Estate
Entity and its Associates) owe to you the following duties:

1. Dealing honestly and fairly;

2. Loyalty;

3. Confidentiality;

4. Obedience;

5. Full disclosure;

6. Accounting for all funds;

7. Skill, care, and diligence in the transaction; and

8. Presenting all offers and counteroffers in a timely manner, unless a party
has previously directed the licensee otherwise in writing.
__________
Date
______________________________
Signature

2. Transition disclosure.--The notice required under subparagraph (b)2.
must include the following information in the following form as well as the
information required in paragraph (2)(c):

FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO
REPRESENT A BUYER OR SELLER AS A SINGLE AGENT TO
CHANGE FROM A SINGLE AGENT RELATIONSHIP TO A
TRANSACTION BROKERAGE RELATIONSHIP IN ORDER FOR
THE LICENSEE TO ASSIST BOTH PARTIES IN A REAL ESTATE
TRANSACTION BY PROVIDING A LIMITED FORM OF
REPRESENTATION TO BOTH THE BUYER AND THE SELLER. THIS
CHANGE IN RELATIONSHIP CANNOT OCCUR WITHOUT YOUR
PRIOR WRITTEN CONSENT.

_____ _____ I agree that my agent may assume the role and duties of a
transaction broker. [must be initialed or signed]

(4) NO BROKERAGE RELATIONSHIP-DUTIES.--A real estate
licensee owes to a customer with whom the licensee has no brokerage
relationship the following duties:

(a) Dealing honestly and fairly;

(b) Disclosing all known facts that materially affect the value of the
property which are not readily observable to the buyer; and

(c) Accounting for all funds entrusted to the licensee.

475.28 Rules of evidence.--

(1) In all proceedings before the commission or the courts, civil or
criminal, in which the payment, receipt, or expectation of a commission,
compensation, or a valuable consideration is a necessary element of the
offense, proof of the performance of the act, service, or condition for which
such commission, compensation, or valuable consideration is required to be
shown shall be prima facie evidence that such act, service, or condition was
performed or existed for or in expectation of the payment or receipt of a
commission, compensation, or a valuable consideration. If it is material to
determine whether or not a party to any action, civil or criminal, is properly
licensed, the burden of proof shall be on such party.

(2) Photostatic copies of any papers or documents may be introduced in
lieu of the originals in any proceeding or prosecution under this chapter. The
books of account and records of any person shall be admissible upon a
showing that they were made in the regular course of business, without
introducing the person who made the entries, the weight of such evidence to
be decided by the court or commission.

475.2801 Rules.--The commission may adopt rules establishing
disciplinary guidelines, notices of noncompliance, and citations for violations
of ss. 475.276 and 475.278.

475.31 Final orders.--

(1) An order revoking or suspending the license of a broker shall
automatically cancel the licenses of all salespersons registered with the broker,
and, if a partnership or corporation, of all members, officers, and directors
thereof, while the license of the broker is inoperative or until new employment
or connection is secured.

(2) The commission may publish and distribute in such manner and form as
it may prescribe any of its final orders or decisions made under this chapter,
after they become final by lapse of time or upon affirmance on appeal, or
opinions of appellate courts for the guidance of registrants and the public; and
it may publish or withhold from publication the names and addresses of any
parties concerned. This subsection shall not be construed to affect the
operation of chapter 119.

475.37 Effect of reversal of order of court or commission.--If the
order of the court or commission denying a license or taking any disciplinary
action against a licensee is finally reversed and set aside, the defendant shall
be restored to her or his rights and privileges as a broker or salesperson as of
the date of filing the mandate or a copy thereof with the commission. The
matters and things alleged in the information shall not thereafter be reexamined
in any other proceeding concerning the licensure of the defendant. If the
inquiry concerned was in reference to an application for licensure, the
application shall stand approved, and such application shall be remanded for
further proceedings according to law.

475.38 Payment of costs.--The commission shall not be required to
advance any fees or costs to any officer or witness, or to execute any bond in
any proceeding in the courts, any general statute to the contrary
notwithstanding, but in every case in which the commission is liable for any
fees or costs, a voucher therefor shall be presented to the commission and, if
approved, shall be audited and paid as are other expenses of the commission.

475.41 Contracts of unlicensed person for commissions invalid.--No
contract for a commission or compensation for any act or service enumerated
in s. 475.01(3) is valid unless the broker or salesperson has complied with
this chapter in regard to issuance and renewal of the license at the time the act
or service was performed.

475.42 Violations and penalties.--

(1) VIOLATIONS.--

(a) No person shall operate as a broker or salesperson without being the
holder of a valid and current active license therefor.

(b) No person licensed as a salesperson shall operate as a broker or
operate as a salesperson for any person not registered as her or his employer.

(c) No broker shall employ, or continue in employment, any person as a
salesperson who is not the holder of a valid and current license as
salesperson; but a license as salesperson may be issued to a person licensed
as an active broker, upon request and surrender of the license as broker,
without a fee in addition to that paid for the issuance of the broker's active
license.

(d) No salesperson shall collect any money in connection with any real
estate brokerage transaction, whether as a commission, deposit, payment,
rental, or otherwise, except in the name of the employer and with the express
consent of the employer; and no real estate salesperson, whether the holder of
a valid and current license or not, shall commence or maintain any action for a
commission or compensation in connection with a real estate brokerage
transaction against any person except a person registered as her or his
employer at the time the salesperson performed the act or rendered the
service for which the commission or compensation is due.

(e) No person shall violate any lawful order or rule of the commission
which is binding upon her or him.

(f) No person shall commit any conduct or practice set forth in s.
475.25(1)(b), (c), (d), or (h).

(g) No person shall make any false affidavit or affirmation intended for use
as evidence by or before the commission or a member thereof, or by any of
its authorized representatives, nor shall any person give false testimony under
oath or affirmation to or before the commission or any member thereof in any
proceeding authorized by this chapter.

(h) No person shall fail or refuse to appear at the time and place
designated in a subpoena issued with respect to a violation of this chapter,
unless because of facts that are sufficient to excuse appearance in response to
a subpoena from the circuit court; nor shall a person who is present before the
commission or a member thereof or one of its authorized representatives
acting under authority of this chapter refuse to be sworn or to affirm or fail or
refuse to answer fully any question propounded by the commission, the
member, or such representative, or by any person by the authority of such
officer or appointee; nor shall any person, so being present, conduct herself or
himself in a disorderly, disrespectful, or contumacious manner.

(i) No person shall obstruct or hinder in any manner the enforcement of
this chapter or the performance of any lawful duty by any person acting under
the authority of this chapter or interfere with, intimidate, or offer any bribe to
any member of the commission or any of its employees or any person who is,
or is expected to be, a witness in any investigation or proceeding relating to a
violation of this chapter.

(j) No broker or salesperson shall place, or cause to be placed, upon the
public records of any county, any contract, assignment, deed, will, mortgage,
affidavit, or other writing which purports to affect the title of, or encumber,
any real property if the same is known to her or him to be false, void, or not
authorized to be placed of record, or not executed in the form entitling it to be
recorded, or the execution or recording whereof has not been authorized by
the owner of the property, maliciously or for the purpose of collecting a
commission, or to coerce the payment of money to the broker or salesperson
or other person, or for any unlawful purpose. However, nothing in this
paragraph shall be construed to prohibit a broker or a salesperson from
recording a judgment rendered by a court of this state or to prohibit a broker
from placing a lien on a property where expressly permitted by contractual
agreement.

(k) No person shall operate as a broker under a trade name without
causing the trade name to be noted in the records of the commission and
placed on the person's license, or so operate as a member of a partnership or
as a corporation or as an officer or manager thereof, unless such partnership
or corporation is the holder of a valid current registration.

(l) No person shall knowingly conceal any information relating to violations
of this chapter.

(m) No person shall undertake to list or sell one or more timeshare periods
per year in one or more timeshare plans on behalf of any number of persons
without first being the holder of a valid and current license as a broker or
salesperson pursuant to this chapter, except as provided in s. 475.011 and
chapter 721.

(n) No broker or salesperson shall enter into any listing or other agreement
regarding her or his services in connection with the resale of a timeshare
period unless the broker or salesperson fully and fairly discloses all material
aspects of the agreement to the owner of the timeshare period and fully
complies with the provisions of s. 475.452. Further, no broker or salesperson
shall utilize any form of contract or purchase and sale agreement in connection
with the resale of a timeshare period unless the contract or purchase and sale
agreement fully and fairly discloses all material aspects of the timeshare plan
and the rights and obligations of both buyer and seller. The commission is
authorized to promulgate rules pursuant to chapter 120 as necessary to
implement, enforce, and interpret this paragraph.

(2) PENALTIES.--Any person who violates any of the provisions of
subsection (1) is guilty of a misdemeanor of the second degree, punishable as
provided in s. 775.082 or s. 775.083, or, if a corporation, it is guilty of a
misdemeanor of the second degree, punishable as provided in s. 775.083,
except when a different punishment is prescribed by this chapter. Nothing in
this chapter shall prohibit the prosecution under any other criminal statute of
this state of any person for an act or conduct prohibited by this section;
however, in such cases, the state may prosecute under this section or under
such other statute, or may charge both offenses in one prosecution, but the
sentence imposed shall not be a greater fine or longer sentence than that
prescribed for the offense which carries the more severe penalties. A civil
case, criminal case, or a denial, revocation, or suspension proceeding may
arise out of the same alleged state of facts, and the pendency or result of one
such case or proceeding shall not stay or control the result of either of the
others.

475.421 Publication of false or misleading information; promotion of
sales, leases, rentals; penalty.--Any person who publishes or causes to be
published by means of newspaper, periodical, radio, television, or written or
printed matter any false or misleading information for the purpose of offering
for sale or for the purpose of causing or inducing any other person to
purchase, lease, or rent real estate located in the state, or to acquire an
interest in the title thereto, is guilty of a misdemeanor of the first degree,
punishable as provided in s. 775.082 or s. 775.083.

475.422 Disclosure.--

(1) A licensee, upon the written request of any other party to a real estate
sales transaction, shall furnish copies of any termite and roof inspection
reports ordered by or in the possession of the licensee, provided that the
inspections were performed on the property within the year preceding the
effective date of the contract for sale and purchase.

(2) Failure to comply with this section may subject the licensee to
disciplinary action pursuant to s. 475.25.

475.43 Presumptions.--In all criminal cases, contempt cases, and other
cases filed pursuant to this chapter, if a party has sold, leased, or let real
estate, the title to which was not in the party when it was offered for sale,
lease, or letting, or such party has maintained an office bearing signs that real
estate is for sale, lease, or rental thereat, or has advertised real estate for sale,
lease, or rental, generally, or describing property, the title to which was not in
such party at the time, it shall be a presumption that such party was acting or
attempting to act as a real estate broker, and the burden of proof shall be
upon him or her to show that he or she was not acting or attempting to act as
a broker or salesperson. All contracts, options, or other devices not based
upon a substantial consideration, or that are otherwise employed to permit an
unlicensed person to sell, lease, or let real estate, the beneficial title to which
has not, in good faith, passed to such party for a substantial consideration, are
hereby declared void and ineffective in all cases, suits, or proceedings had or
taken under this chapter; however, this section shall not apply to irrevocable
gifts, to unconditional contracts to purchase, or to options based upon a
substantial consideration actually paid and not subject to any agreements to
return or right of return reserved.

475.451 Schools teaching real estate practice.--

(1) Each person, school, or institution, except approved and accredited
colleges, universities, community colleges, and 1area technical centers in this
state, which offers or conducts any course of study in real estate practice,
teaches any course prescribed by the commission as a condition precedent to
licensure or renewal of licensure as a broker or salesperson, or teaches any
course designed or represented to enable or assist applicants for licensure as
brokers or salespersons to pass examinations for such licensure conducted by
the department shall, before commencing or continuing further to offer or
conduct such course or courses, obtain a permit from the department and
abide by the regulations imposed upon such person, school, or institution by
this chapter and rules of the commission adopted pursuant to this chapter. The
exemption for colleges, universities, community colleges, and 1area technical
centers is limited to transferable college credit courses offered by such
institutions.

(2) An applicant for a permit to operate a proprietary real estate school, to
be a chief administrator of a proprietary real estate school or a state
institution, or to be an instructor for a proprietary real estate school or a state
institution must meet the qualifications for practice set forth in s. 475.17(1)
and the following minimal requirements:

(a) "School permitholder" is defined as that individual who is responsible
for directing the overall operation of a proprietary real estate school. She or
he must be the holder of a license as a broker, either active or voluntarily
inactive, or must have passed an instructor's examination administered by the
department. A school permitholder must also meet the requirements of a
school instructor if she or he is actively engaged in teaching.

(b) "Chief administrative person" is defined as that individual who is
responsible for the administration of the overall policies and practices of the
institution or proprietary real estate school. She or he must also meet the
requirements of a school instructor if she or he is actively engaged in teaching.

(c) "School instructor" is defined as that individual who actively instructs in
the classroom.

1. Before commencing to instruct noncredit college courses in a college,
university, or community college, or courses in an area technical center or
proprietary real estate school, she or he must certify her or his competency by
meeting one of the following requirements:

a. Hold a bachelor's degree in a business-related subject, such as real
estate, finance, accounting, business administration, or its equivalent and hold
a valid broker's license in this state.

b. Hold a bachelor's degree, have extensive real estate experience, as
defined by rule, and hold a valid broker's license in this state.

c. Pass an instructor's examination administered by the Division of Real
Estate.

2. Any requirement by the commission for a teaching demonstration or
practical examination must apply to all school instructor applicants.

3. Every second year, each instructor must recertify her or his competency
by presenting to the commission evidence of her or his having successfully
completed a minimum of 15 classroom hours of instruction in real estate
subjects or instructional techniques, as prescribed by the commission.

The department may require an applicant to submit names of persons having
knowledge concerning the applicant and the enterprise; may propound
interrogatories to such persons and to the applicant concerning the character
of the applicant, including the taking of fingerprints for processing through the
Federal Bureau of Investigation; and shall make such investigation of the
applicant or the school or institution as it may deem necessary to the granting
of the permit. If an objection is filed, it shall be considered in the same manner
as objections or administrative complaints against other applicants for
licensure by the department.

(3) It is unlawful for any person, school, or institution to offer the courses
described in subsection (1) or to conduct classes in such courses, regardless
of the number of pupils, whether by correspondence or otherwise, without
first procuring a permit, or to guarantee that its pupils will pass any
examinations given by the department, or to represent that the issuance of a
permit is any recommendation or endorsement of the person, school, or
institution to which it is issued or of any course of instruction given thereunder.

(4) Any person who violates this section is guilty of a misdemeanor of the
second degree, punishable as provided in s. 775.082 or s. 775.083.

(5) The location of classes and frequency of class meetings shall be in the
discretion of the school offering real estate courses, so long as such courses
conform to s. 475.17(2).

(6) Any course prescribed by the commission as a condition precedent to
any person's becoming initially licensed as a salesperson may be taught in any
real estate school through the use of a video tape of instruction by a currently
licensed instructor from any such school. The commission may require that
any such video tape course have a single session of live instruction by a
currently licensed instructor from any such school; however, this requirement
shall not exceed 3 classroom hours. All other prescribed courses, except the
continuing education course required by s. 475.182, shall be taught by a
currently licensed school instructor personally in attendance at such course.
The continuing education course required by s. 475.182 may be taught by an
equivalent correspondence course; however, any such course of
correspondence shall be required to have a final examination, prepared and
administered by the school issuing the correspondence course. The continuing
education requirements provided in this section or provided in any other
section in this chapter do not apply with respect to any attorney who is
otherwise qualified under the provisions of this chapter.

(7) Any person holding a school instructor permit on October 1, 1983, is
exempt from the instructor examination requirements of paragraph (2)(c) as
long as the person continuously holds such a permit and complies with all
other requirements of this chapter.

(8) A permitholder pursuant to this section may be issued additional
permits whenever it is clearly shown that the requested additional permits are
necessary to the conduct of the business of a real estate school and that the
additional permits will not be used in a manner likely to be prejudicial to any
person, including a licensee or a permitholder under this chapter.

1Note.--The term "area technical center" was substituted for the term "area
vocational-technical center" by the editors pursuant to the directive of the Legislature
in s. 16, ch. 94-232.

475.4511 Advertising by real estate schools.--

(1) No person representing a real estate school offering and teaching real
estate courses under this chapter shall make, cause to be made, or approve
any statement, representation, or act, oral, written, or visual, in connection
with the operation of the school, its affiliations with individuals or entities of
courses offered, or any endorsement of such, if such person knows or
believes, or reasonably should know or believe, the statement, representation,
or act to be false, inaccurate, misleading, or exaggerated.

(2) A school shall not use advertising of any nature which is false,
inaccurate, misleading, or exaggerated. Publicity and advertising of a real
estate school, or of its representative, shall be based upon relevant facts and
supported by evidence establishing their truth.

(3) No representative of any school or institution coming within the
provisions of this chapter shall promise or guarantee employment or
placement of any student or prospective student using information, training, or
skill purported to be provided, or otherwise enhanced, by a course or school
as an inducement to enroll in the school, unless such person offers the student
or prospective student a bona fide contract of employment agreeing to
employ the student or prospective student.

(4) A school shall advertise only as a school and under the registered
name of that school and shall not advertise the school in connection with an
advertisement of an affiliated broker, except that a school may advertise
jointly in conjunction with an affiliated broker as long as there is a distinctive
separation in the advertisement.

(5) No reference may be made in any publication or communication
medium as to a "pass/fail ratio" on a state examination by any school
approved by the commission.

475.452 Advance fees; deposit; accounting; penalty; damages.--

(1) It is unlawful for any broker to contract for or collect any advance fee
for the listing of real property from any principal without depositing 75 percent
of such amount, when collected, in a trust account with a bank or other
recognized depository located and doing business in this state. Such funds
shall be held as trust funds and may not be commingled with the funds of the
broker who has collected the fee. Prior to the withdrawal of any fees from the
trust account, the broker shall furnish a statement to the principal itemizing
how the advance fees are to be expended and the amounts thereof. Amounts
may be withdrawn for the benefit of the broker only when actually expended
for the benefit of the principal or 5 days after verified accounts have been
mailed to the principal. If the listed property is not sold within the period of
time specified in the broker's contract or within 18 months after the contract
date, whichever period is shorter, any funds held by the broker in the trust
account shall be refunded to the principal, together with a final accounting
relating to any or all funds expended by the broker.

(2) The commission may adopt such rules as are necessary to regulate the
method of accounting to be complied with by all brokers in relation to
advance fees for the listing of real property. Such rules shall include, but need
not be limited to, the establishing of forms for, and information to be included
in, such accountings.

(3) Each broker shall furnish each principal a verified copy of such
accountings at the end of each calendar quarter, when the contract has been
completely performed by the broker, and at any other time deemed
appropriate by the commission. The commission shall be furnished a verified
copy of any account or all accounts upon its demand therefor.

(4) Any person who violates any of the provisions of this section is guilty
of a misdemeanor of the first degree, punishable as provided in s. 775.082 or
s. 775.083.

(5) In addition to any other penalties provided for in this section, the
principal in any advance-fee transaction for the listing of real property, which
transaction is in violation of the provisions of this section, may recover treble
damages for any funds misapplied and shall be entitled to reasonable
attorney's fees in any action to recover such funds.

475.453 Rental information; contract or receipt; refund; penalty.--

(1) Each broker or salesperson who attempts to negotiate a rental, or who
furnishes rental information to a prospective tenant, for a fee paid by the
prospective tenant shall provide such prospective tenant with a contract or
receipt, which contract or receipt contains a provision for the repayment of
any amount over 25 percent of the fee to the prospective tenant if the
prospective tenant does not obtain a rental. If the rental information provided
by the broker or salesperson to a prospective tenant is not current or accurate
in any material respect, the full fee shall be repaid to the prospective tenant
upon demand. A demand from the prospective tenant for the return of the fee,
or any part thereof, shall be made within 30 days following the day on which
the real estate broker or salesperson has contracted to perform services to
the prospective tenant. The contract or receipt shall also conform to the
guidelines adopted by the commission in order to effect disclosure of material
information regarding the service to be provided to the prospective tenant.

(2) The commission may adopt a guideline for the form of the contract or
receipt required to be provided by brokers or salespersons pursuant to the
provisions of subsection (1).

(3)

(a) Any person who violates any provision of subsection (1) is guilty of a
misdemeanor of the first degree, punishable as provided in s. 775.082 or s.
775.083.

(b) In addition to the penalty prescribed in paragraph (a), the license of
any broker or salesperson who participates in any rental information
transaction which is in violation of the provisions of subsection (1) shall be
subject to suspension or revocation by the commission in the manner
prescribed by law.

475.455 Exchange of disciplinary information.--The commission shall
inform the Division of Florida Land Sales, Condominiums, and Mobile Homes
of the Department of Business and Professional Regulation of any disciplinary
action the commission has taken against any of its licensees. The division shall
inform the commission of any disciplinary action the division has taken against
any broker or salesperson registered with the division.

475.482 Real Estate Recovery Fund.--There is created the Florida
Real Estate Recovery Fund as a separate account in the Professional
Regulation Trust Fund.

(1) The Florida Real Estate Recovery Fund shall be disbursed as provided
in s. 475.484, on order of the commission, as reimbursement to any person,
partnership, or corporation adjudged by a court of competent civil jurisdiction
in this state to have suffered monetary damages by reason of any act
committed, as a part of any real estate brokerage transaction involving real
property in this state, by any broker or salesperson who:

(a) Was, at the time the alleged act was committed, the holder of a
current, valid, active real estate license issued under this part;

(b) Was neither the seller, buyer, landlord, or tenant in the transaction nor
an officer or a director of a corporation or a member of a partnership which
was the seller, buyer, landlord, or tenant in the transaction; and

(c) Was acting solely in the capacity of a real estate licensee in the
transaction;

provided the act was a violation proscribed in s. 475.25 or s. 475.42.

(2) The Real Estate Recovery Fund shall also be disbursed as provided in
s. 475.484, on order of the commission, as reimbursement to any broker or
salesperson who is required by a court of competent civil jurisdiction to pay
monetary damages due to a distribution of escrow moneys which is made in
compliance with an escrow disbursement order issued by the commission.
However, in no case shall the fund be disbursed when the broker or
salesperson fails to notify the commission and to diligently defend an action
wherein the broker or salesperson may be required by a court of competent
civil jurisdiction to pay monetary damages due to a distribution of escrow
moneys which is made in compliance with an escrow disbursement order
issued by the commission.

(3) A fee of $3.50 per year shall be added to the license fee for both new
licenses and renewals of licenses for brokers, and a fee of $1.50 per year
shall be added for new licenses and renewals of licenses for salespersons.
This fee shall be in addition to the regular license fee and shall be deposited in
or transferred to the Real Estate Recovery Fund. If the fund at any time
exceeds 220.00.000,000, collection of special fees for this fund shall be
discontinued at the end of the licensing renewal cycle. Such special fees shall
not be reimposed unless the fund is reduced below $120.00.000,000 by
disbursement made in accordance with this chapter.

(4) In addition, all moneys collected from fines imposed by the commission
and collected by the department shall be transferred into the Real Estate
Recovery Fund.

475.483 Conditions for recovery; eligibility.--

(1) Any person is eligible to seek recovery from the Real Estate Recovery
Fund if:

(a) Such person has received a final judgment in a court of competent civil
jurisdiction in this state against an individual broker or salesperson in any
action wherein the cause of action was based on a real estate brokerage
transaction. If such person is unable to secure a final judgment against a
licensee due to the death of the licensee, the commission may waive the
requirement for a final judgment. The filing of a bankruptcy petition by a
broker or salesperson does not relieve a claimant from the obligation to obtain
a final judgment against the licensee. In this instance, the claimant must seek to
have assets involving the real estate transaction that gave rise to the claim
removed from the bankruptcy proceedings so that the matter might be heard
in a court of competent civil jurisdiction in this state. If, after due diligence, the
claimant is precluded by action of the bankruptcy court from securing a final
judgment against the licensee, the commission may waive the requirement for
a final judgment.

(b) At the time the action was commenced, such person gave notice
thereof to the commission by certified mail; except that, if no notice has been
given to the commission, the claim can still be honored if, in the opinion of the
commission, the claim is otherwise valid.

(c) A claim for recovery is made within 2 years from the time of the act
giving rise to the claim or within 2 years from the time the act is discovered or
should have been discovered with the exercise of due diligence. In no event
may a claim for recovery be made more than 4 years after the date of the act
giving rise to the claim.

(d)

1. Such person has caused to be issued a writ of execution upon such
judgment, and the person has executed an affidavit showing that no personal
or real property of the judgment debtor liable to be levied upon in satisfaction
of the judgment can be found or that the amount realized on the sale of the
judgment debtor's property pursuant to such execution was insufficient to
satisfy the judgment; or

2. If such person is unable to comply with subparagraph 1. for a valid
reason to be determined by the commission, such person has made all
reasonable searches and inquiries to ascertain whether the judgment debtor is
possessed of real or personal property or other assets subject to being sold
or applied in satisfaction of the judgment and by her or his search the person
has discovered no property or assets or she or he has discovered property
and assets and has taken all necessary action and proceedings for the
application thereof to the judgment but the amount thereby realized was
insufficient to satisfy the judgment.

(e) Any amounts recovered by such person from the judgment debtor, or
from any other source, have been applied to the damages awarded by the
court.

(f) Such person is not a person who is precluded by this act from making a
claim for recovery.

(2) A person is not qualified to make a claim for recovery from the Real
Estate Recovery Fund, if:

(a) Such person is the spouse of the judgment debtor or a personal
representative of such spouse;

(b) Such person is a licensed broker or salesperson who acted as the
agent in the transaction that is the subject of the claim;

(c) Such person's claim is based upon a real estate transaction in which the
licensed broker or salesperson was the owner of or controlled the property
involved in the transaction; in which the licensee was dealing for the licensee's
own account; or in which the licensee was not acting as a broker or
salesperson;

(d) Such person's claim is based upon a real estate transaction in which the
broker or salesperson did not hold a valid, current, and active license at the
time of the real estate transaction; or

(e) The judgment is against a real estate brokerage corporation or
partnership.

(3) The commission may pay attorney's fees and court costs if the claim is
of the type described in s. 475.482(2).

475.4835 Commission powers upon notification of commencement
of action.--When the commission receives certified notice of any action, as
required by s. 475.483(1)(b), the commission may intervene, enter an
appearance, file an answer, defend the action, or take any action it deems
appropriate and may take recourse through any appropriate method of review
on behalf of the State of Florida.

475.484 Payment from the fund.--

(1) Any person who meets all of the conditions prescribed in s.
475.482(1) or (2) may apply to the commission to cause payment to be made
to such person from the Real Estate Recovery Fund:

(a) Under s. 475.482(1), in an amount equal to the unsatisfied portion of
such person's judgment or $20.00.00,000, whichever is less, but only to the extent
and amount reflected in the judgment as being actual or compensatory
damages. Except as provided in s. 475.483, treble damages, court costs,
attorney's fees, and interest shall not be recovered from the fund.

(b) Under s. 475.482(2), in an amount equal to the judgment against the
broker or salesperson or $20.00.00,000, whichever is less.

(2) Upon receipt by a claimant under paragraph (1)(a) of payment from
the Real Estate Recovery Fund, the claimant shall assign her or his additional
right, title, and interest in the judgment, to the extent of such payment, to the
commission, and thereupon the commission shall be subrogated to the right,
title, and interest of the claimant; and any amount subsequently recovered on
the judgment by the commission, to the extent of the right, title, and interest of
the commission therein, shall be for the purpose of reimbursing the Real Estate
Recovery Fund.

(3) Payments for claims arising out of the same transaction shall be limited,
in the aggregate, to $20.00.00,000, regardless of the number of claimants or parcels
of real estate involved in the transaction.

(4) Payments for claims based upon judgments against any one broker or
salesperson may not exceed, in the aggregate, 220.00.00,000.

(5) If at any time the moneys in the Real Estate Recovery Fund are
insufficient to satisfy any valid claim or portion thereof, the commission shall
satisfy such unpaid claim or portion thereof as soon as a sufficient amount of
money has been deposited in or transferred to the fund. When there is more
than one unsatisfied claim outstanding, such claims shall be paid in the order in
which the claims were approved by the commission. However, if the total
claims approved at any one commission meeting exceed the aggregate amount
established in subsection (4) against any one broker or salesperson, the claims
approved on that day shall be prorated.

(6) All payments and disbursements from the Real Estate Recovery Fund
shall be made by the Treasurer upon a voucher signed by the secretary of the
department. Amounts transferred to the Real Estate Recovery Fund shall not
be subject to any limitation imposed by an appropriation act of the
Legislature.

(7) Upon the payment of any amount from the Real Estate Recovery Fund
in settlement of a claim in satisfaction of a judgment against a broker or
salesperson as described in s. 475.482(1), the license of such broker or
salesperson shall be automatically suspended upon the date of payment from
the fund. The license of such broker or salesperson may not be reinstated until
the licensee has repaid in full, plus interest, the amount paid from the fund. No
further administrative action is necessary. A discharge of bankruptcy does not
relieve a licensee from the penalties and disabilities provided in this section.

475.485 Investment of the fund.--The funds in the Real Estate
Recovery Fund may be invested by the Treasurer under the same limitations
as apply to investment of other state funds, and the interest earned thereon
shall be deposited to the credit of the Real Estate Recovery Fund and shall be
available for the same purposes as other moneys deposited in the Real Estate
Recovery Fund.

475.486 Rules; violations.--

(1) The commission shall adopt such rules as are necessary to effect the
efficient administration of ss. 475.482-475.486.

(2) It is unlawful for any person or the person's agent to file with the
commission any notice, statement, or other document required under the
provisions of ss. 475.482-475.486 which is false or contains any material
misstatement of fact. Any person who violates the provisions of this
subsection is guilty of a misdemeanor of the second degree, punishable as
provided in s. 775.082 or s. 775.083.

475.5015 Brokerage business records.--Each broker shall keep and
make available to the department such books, accounts, and records as will
enable the department to determine whether such broker is in compliance with
the provisions of this chapter. Each broker shall preserve at least one legible
copy of all books, accounts, and records pertaining to her or his real estate
brokerage business for at least 5 years from the date of receipt of any money,
fund, deposit, check, or draft entrusted to the broker or, in the event no funds
are entrusted to the broker, for at least 5 years from the date of execution by
any party of any listing agreement, offer to purchase, rental property
management agreement, rental or lease agreement, or any other written or
verbal agreement which engages the services of the broker. If any brokerage
record has been the subject of or has served as evidence for litigation,
relevant books, accounts, and records must be retained for at least 2 years
after the conclusion of the civil action or the conclusion of any appellate
proceeding, whichever is later, but in no case less than a total of 5 years as set
above. Disclosure documents required under ss. 475.276 and 475.278 shall
be retained by the real estate licensee in all transactions that result in a written
contract to purchase and sell real property.

475.5017 Injunctive relief; powers.--

(1) Appropriate civil action may be brought by the department in circuit
court to enjoin a broker from engaging in, or continuing, a violation of this part
or doing any act or acts in furtherance thereof. In any such action, an order or
judgment may be entered awarding such temporary or permanent injunction
as may be deemed proper. In addition to all other means provided by law for
the enforcement of a restraining order or injunction, the court in which such
action is brought shall have power and jurisdiction to impound and appoint
one or more receivers for the property and business of the broker, including
books, papers, documents, and records pertaining thereto, or as much thereof
as the court may deem reasonably necessary to prevent violations of the law
or injury to the public through, or by means of, the use of such property and
business. Such receiver, when so appointed and qualified, shall have such
powers and duties as to custody, collection, administration, winding up, and
liquidation of such property and business as is, from time to time, conferred
upon her or him by the court. In any such action, the court may issue an order
staying all pending civil actions and the court, in its discretion, may require that
all civil actions be assigned to the circuit court judge who appointed the
receiver.

(2) All expenses of the receiver shall be paid out of the assets of the
brokerage firm upon application to and approval by the court. If the assets
are not sufficient to pay all the expenses of the receiver, the court may order
disbursement from the Real Estate Recovery Fund, which may not exceed
220.00.00,000 per receivership.