Do you understand your obligations under Chapter 455 of the Florida Statutes?
Most Realtors know they must comply with Chapter 475, but many don’t understand that there are additional compliance requirements under Chapter 455 – general provisions for business and professional regulation.
If a licensee is called before the Florida Real Estate Commission (FREC) and claims a lack of knowledge of Chapter 455 rules, it’s not an adequate defense. Non-compliance can result in fines and additional education requirements.
Some examples under Chapter 455
A licensee cannot practice or offer to practice beyond the scope permitted by law – or accept and perform professional responsibilities the licensee knows, or has reason to know, they aren’t competent to perform; or file a report that the licensee knows to be false.
One of the most commonly misunderstood provisions under the chapter: A licensee must self-report crimes in any jurisdiction to the department within 30 days after they’re convicted, found guilty, or entered a plea of nolo contender or guilty.
Many agents know the 475 requirement to report felonies, but it’s more than that under Chapter 455. This section refers to any crime, like a misdemeanor. The Department of Business and Professional Regulation (DBPR) has a form that can be used to comply with this self-reporting requirement. It can be accessed online.
Meredith Caruso is Manager of Member Legal Communications for Florida Realtors
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