Subdividing: Large parcel into smaller lots
Development: Improving raw land
Construction: Building on the sites
Deed Restrictions on single parcels vs. Restrictive Covenants on Subdivisions
Dedicate sewers, parks, and streets to local municipality.
Subdivision Plat Map plan for future development.
Agriculture 10 acres or more.
Appraisal certified or not conforms to USPAP.
BPO for short sales from sales associates or brokers/licensees.
Business Broker sells tangibles and intangibles.
CMA for sellers and buyer.
Counselor for investor or developer.
Farm area for experts.
Follow-up post sale.
Anyone can start an MLS.
Property manager is not rental agent.
Property management prepares for highest and best use, and advertising and marketing, and routine maintenance.
Uniform Standards of Professional Appraisal Practice.
Real Estate Business = financing, counseling, buying, selling, appraising, marketing, transferring title, developing, subdividing, negotiating, managing, leasing, market conditions, relocating, and advertising.
Law is important in real estate.
Brokering real estate = buyer and seller, renter and tenant, developer and municipality, buyer and financed, seller and agent, owner and leasee.
Residential 4 or fewer developed or undeveloped units and less than 10 agricultural acres.
Commercial income producing.
Industrial construction features and transportation.
Business broker buys, sellers, or leases business.
Real estate license for buying, selling, leasing business.
Business opportunity brokerage buying, selling, leasing business with real property license required, with tangible assets license not required.
Farm agents maintain data on each property.
Property data = year built, property tax, sales history, assessed value, marketing time
Rental agent finds leasee then collect fee
Absentee owner relies on property manager
Property manager collects rent
Property manager payment defined in management agreement doc.
Appraisal estimates property worth (10' above)
Comparative market analysis = real estate activity in the area (1,000 feet above)
BPO 10' above
Federal mortgage loan requires certified appraisal
BPO for free and clear sales
Sales associate never collect BPO payment
BPO //=// Appraisal //=// CMA
USPAP //=// CMA and BPO
Corporation, developer, investor, buyer, seller = counselor
Developer pays advertising
Developer pays broker commission
Local gov. = tax and occupational licensing
State gov. = coastal and protected areas
Fed. gov. = monetary policies
REALTOR //=// Real Estate Licensee
NAR = private professional organization
MLS brings sellers to buyers and vice versa
NAR //=// trademark MLS
Chapter 475 real estate license law
1925 = FREC = Commission = Chapter 475 = DRE = DBPR = Licensing
Voluntary inactive until employed with broker and notify DBPR
Sales associate = agent of broker/employer
Brokers more experienced, higher education, and passed broker exam over sales associate
Post-licensure courses are offered in live classroom format and online.
After completing the post-licensing education requirement during the initial license period, active and inactive licensees must complete at least 14 hours of continuing education during every two-year license period after that.
