Broker of Record vs Florida Qualifying Broker
A Florida qualifying broker is the active Florida broker registered with FREC who qualifies a brokerage entity to operate under Chapter 475, Florida Statutes. Most states call the same role broker of record or designated broker. Florida offers no full broker license reciprocity, so every firm transacting in Florida must have one.
Does a Florida qualifying broker have to live in Florida?
No. Florida imposes no residency requirement, but the qualifying broker must hold an active Florida broker license and genuinely supervise the firm's licensees, advertising, and escrow accounts.
How long does it take to become a Florida qualifying broker?
Roughly 12 to 24 months: a 63-hour sales associate course, the state exam, 24 months of active experience within the previous 5 years, a 72-hour broker course, and the broker exam. Engaging a qualifying broker takes 24 to 72 hours.
What liability does the qualifying broker carry?
Personal accountability to FREC for supervision, monthly escrow reconciliation under FREC Rule 61J2-14.012, advertising compliance, and recordkeeping. Violations can suspend or revoke the individual's license, not only the firm's registration.