A sole proprietor does not need to register with the Secretary of State unless a trade name is used. All actions of associates to this broker are his responsibility and his alone. Brokers can, under some circumstances, receive kickbacks from providers outside the transaction as long as the buyer and seller are informed of the kickback. Duties include: Deal honestly and fairly, Be loyal, Maintain confidentiality, Maintain obedience to the Principal's instruction unless in violation of law, Provide full disclosure to all parties, Account for all funds entrusted to the broker, Provide skill, due care and diligence in the transaction, Present all offers in a timely manner, Disclose all known facts that materially affect the value of residential real property that are not readily observable, Provide the single agent disclosure before or at the time of entering a listing agreement or an agreement for representation, at the time of or before showing a property, whichever occurs first, Provide the required information on the required format. If a licensee fails to provide or adhere to the provisions of disclosure, the Commission may deny an application for licensure, registration, permit or renewal place the licensee, registrant or permitee on probation, suspend a licensee, registration or permit, impose an administrative fine not to exceed $1,000 for each count, issue a reprimand, do any or all of the above Definition, A broker is required to keep and make available to the department such books and records as will enable the department to determine if such a broker is in compliance with Florida real estate Statutes. Point of contact information could be a, brokerage or licensees mailing and/or phys, and telephone, cell phoneor fax numbers, or any other means by which an individual would contact the brokerage or individual l, Section 61J2-10.025(3)(a), Florida Administrative Code. What are the Most Complaints Received by FREC About? Which is NOT true? He went to a local savings and loan and signed a deed of trust as part of his closing. He does not know what course to take to renew his license for the 1st time. A partnership or corporation shall contain the name of the firm or corporation or trade name along with at least one of the brokers. What type of mortgage did this important person have? (b) $65,000 A look at how commercial agents can help property owners create an implementationplan to ensure accessibility. The investigator may, charge the broker with discrimination with no further evidence. Mr. Smith, with Mr. Jones' permission, modifies the house to suit his needs. James, a real estate broker, decides he wants to open a property management company. The following data were adapted from a recent income statement of Procter & Gamble Company: (inmillions)Netsales$82,559Operatingcosts:Costofproductssold$40,768Marketing,administrative,andotherexpenses25,973Totaloperatingcosts$66,741Incomefromoperations$15,818\begin{array}{lr} What are the most complaints received by FREC about?