Florida Broker Practice Exam

What rights does the Commercial Real Estate Leasing Commission Lien Act grant brokers?

1. Lien rights for earned commission from leases

2. The ability to collect fees from tenants

3. A fixed percentage of commission from sales

4. Exclusivity for leasing within a given area

The correct answer is: Lien rights for earned commission from leases

The Commercial Real Estate Leasing Commission Lien Act specifically grants brokers lien rights for commissions that they have earned from leases. This means that if a broker successfully facilitates a lease agreement, they have the legal right to file a lien against the property for the amount of the commission owed. This provision is important because it provides brokers with a means of securing payment for their services in a way that can be enforced through the legal system. The act emphasizes the protection of brokers’ rights regarding the compensation they earn through leases, ensuring they are recognized and compensated for their work in the commercial real estate sector. This not only incentivizes brokers to perform effectively but also establishes a formal mechanism by which they can claim their commissions if they encounter issues with payment. Other options, although they might pertain to various market practices, do not accurately reflect the specific rights granted by the Commercial Real Estate Leasing Commission Lien Act. For instance, the act does not provide brokers with the authority to collect fees from tenants directly or establish a fixed commission percentage upon sales, nor does it endow them with exclusivity within a certain area for leasing. Thus, the law’s focus remains on the lien rights associated with earned commissions from leases.