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Florida Real Estate Broker Group License

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http://www.RowlettRealEstateSchool.com | 850-547-1333 | Questions about Florida Real Estate Group License? We're Florida Real Estate License specialists! Best Fully Narrated Video Courses. Contact us today! A group license is sometimes issued to sales associates or broker associates who are registered under an owner-developer. An owner-developer may own properties in the names of various entities. If the entities are all connected so that ownership and control is with the same individual(s), sales associates and broker associates employed by the ownerdeveloper may be issued a group license. The owner-developer sends an affidavit to the DBPR with a list of all the legal company names used by the owner-developer. This allows the associate to sell for all the affiliated entities owned by the owner-developer. Owner-developers are not required to hold real estate licenses if they only sell their own properties. The owner-developer is registered with the DBPR under a pseudo number (not a real estate license) that is entered into the DBPR records. The pseudo number becomes a placeholder under which sales associates and broker associates register. To activate a sales associate license under an ownerdeveloper, the sales associate and the developer complete the appropriate section of form DBPR RE 11. The sales associate’s name and license number are entered on the form. The owner-developer’s name, business location address, and pseudo number are entered on the form. In actual practice, the sales associate (or broker associate) is issued a real estate license and no distinction regarding group license is made on the associate’s license.
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Text Comments (2)
Brian Eddy (1 year ago)
If I understand it correctly, the sales associate within an owner-developer, CANNOT receive commissions or a quota bonus? They HAVE to be a salaried employee. Is that correct?
No Brian, Non-Licensed personal within owner-developer company CANNOT receive commissions or a quota bonus. They HAVE to be a salaried employee.

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