by Mike Colpitts 
The Florida Real Estate Commission may be eliminated under a proposal making its way through the state legislature. FREC is the organization that regulates the real estate profession in the state of Florida. The bill to wipe out FREC and other regulated professions in Florida has made it to the second step in the regulatory process.
A Florida House committee advanced House bill 1461 on Tuesday. It would eliminate nearly all boards and commissions that regulate professions under the Florida Department of Business and Professional Regulation (DBPR). The effort is part of a larger movement ushered in under President Donald Trump to de-regulate industries throughout the U.S.
FREC is also the agency that licenses real estate agents and brokers, and disciplines agents and brokers who break laws regulating the real estate industry. The commission sets fines for real estate agents who break state laws and in the worst of circumstances revokes their licenses.
The proposal did not originally propose to eliminate FREC, but a 389-page amendment added the provision. It quickly passed its first committee on April 9, and its second on Tuesday. It has one more committee stop before it would be brought to the House floor for a full vote.
“We’re talking about the largest financial investment that families and individuals make in their lives – their homes, the place that they build their wealth, and something that we know is really important to the fabric and the fiber of every single community,” Florida Realtors® President Tim Weisheyer told the committee. “We understand the intent of the bill and what the state is trying to do with deregulation, but we do truly believe that real estate is one of those that should be preserved – the Florida Real Estate Commission should stand.”
The Florida Real Estate Commission was created to protect the public trust regulating the conduct of real estate licensees and ensure that real estate professionals in Florida comply with established legal and ethical standards. Real estate represents more than $394 billion—or 24%—of Florida’s economy, according to the Florida Realtors Association. With more than 100,000 licensees currently active in the state, FREC’s role is crucial for the real estate industry.
It is unclear who would handle disciplinary duties, how the process would work and whether DBPR has the staff and expertise to handle the increased workload should FREC be eliminated.
If the bill is passed, the Florida real estate commission may be eliminated. The House bill would need to be approved first and then by the state Senate before it can be sent to Gov. Ron DeSantis for his signature to make the bill law. Florida Realtors are lobbying against the bill.
FREC is composed of just five members, who with their staff regulates the Florida real estate industry.
“The truth is, the Florida Real Estate Commission, as it stands today, has over 175 years of combined experience and expertise that’s really unique and really nuanced,” added Weisheyer. “Being able to look at the very unique circumstances that come before them to make decisions on not just who gets a license, but also who gets to keep or maintain a license in the state of Florida is critical.”