![]() In addition to the statutory laws of agency, real estate license law and the Florida Real Estate Commission (FREC) rules directly affect and regulate the brokerage relationships among real estate licensees, buyers and sellers, and the public. ![]() Administrative law is a body of law created by administrative agencies in the form of rules, regulations, orders, and decisions.įlorida Statute 475 empowers the Florida Real Estate Commission to govern real estate practice in Florida.Statutory law is written statutes enacted by the legislature.Ĭhapters 455 and 475 are two Florida statutes enacted by the Florida Legislature pertaining to license law.This absolute loyalty is one of the fundamental principles of the agency relationship. Under the English common law, servants owed absolute loyalty to their masters. It is judge-made law manifested in decrees and judgments of the courts (case law).Ĭommon law originated in England and was later incorporated into the U.S. ![]()
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