Florida Broker Practice Exam

Which body is responsible for regulating real estate brokers in Florida?

1. Florida Board of Realtors

2. Florida Department of Business and Professional Regulation

3. Florida Real Estate Commission

4. Florida Real Estate Association

The correct answer is: Florida Real Estate Commission

The Florida Real Estate Commission (FREC) is the correct answer because it is the primary regulatory authority responsible for overseeing the licensing and regulation of real estate brokers and sales associates in the state. FREC's mission includes protecting the public by ensuring that real estate professionals adhere to state laws and regulations. They establish rules governing real estate practices, conduct disciplinary actions against unlicensed individuals or those who violate regulations, and ensure that licensees complete continuing education requirements. Other bodies mentioned in the options play different roles within the real estate industry. The Florida Board of Realtors serves as a trade association for real estate professionals, focusing on advocacy and promoting the interests of its members rather than regulatory enforcement. The Florida Department of Business and Professional Regulation oversees a wide range of professions and businesses, but the specific regulatory functions for real estate are handled by FREC. The Florida Real Estate Association, like the Board of Realtors, is more focused on industry representation and member services instead of regulatory responsibilities. Thus, the Florida Real Estate Commission is the authoritative body for real estate regulation in Florida.