A Detailed Guide to Real Estate Brokers: Job Description, Duties, and How to Become One in Florida

The real estate industry in the United States is witnessing a comeback with strong supply and demand for commercial and residential properties. 

Real estate markets in many states are showing a surge in interest from homebuyers and investors. 

To meet the needs of the market, the real estate industry is welcoming aspiring professionals to be a part of the growth story of the future. There is a surge in the number of job openings for real estate agents, brokers, and appraisers. 

If you are a resident of Florida and want to start a career in the exciting and rewarding world of real estate, now is a good time. 

Whether you are just preparing to begin a career or already have experience in some other industry, understanding the terms, trade, rules, and responsibilities of the real estate industry can be slightly overwhelming. 

Many beginners and aspiring professionals get confused between real estate agents and brokers, especially due to some similarities in the job responsibilities. 

In this article, we are going to help you learn more about the brokers in Florida and how you can become one. 

Plus, we will walk you through the steps necessary to successfully start a career as a licensed broker in Florida. 

The Functioning of a Real Estate Broker

A licensed real estate broker works on behalf of buyers and sellers of property, whether residential or commercial. The real estate broker’s job description includes helping clients sell, purchase, lease, or rent properties. 

They also train and oversee the daily activities of real estate agents working in their company.  

They can write contracts, and conduct, and legally authorize a real estate transaction. 

The role of a real estate broker in the industry can vary depending on the type of broker’s license. 

For example - a commercial real estate broker is responsible for assisting clients in the buying, leasing, or selling of commercial properties such as - hotels, office and retail space, hotels, and resorts. 

Whereas if you are a residential real estate broker, your responsibilities will include working with homeowners and buyers to present, negotiate, and finalize deals for residential properties. 

Key Responsibilities of a Real Estate Broker

Being a real estate broker is a multi-dimensional career experience as it encompasses many responsibilities and duties. 

If you are aspiring to become a broker in the future, here is a list of real estate broker duties and responsibilities for you to understand. 

• Interview and hire agents to work under your supervision
• Assist clients in the selling, buying, or leasing of real estate 
• Reviewing and supervising the formulation of contracts and purchase agreements
• Establish, maintain, and share commissions with agents and salespersons
• Helping clients negotiate contracts and execute deals faster
• Formalizing and delivering disclosures and documents related to the transaction
• Advising homeowners in setting up their property for showings
• Drafting, filing, and maintaining property-related paperwork
• Moving funds from and to accounts for escrow
• Ensuring compliance with the state and federal laws and regulations

These are just a few of the responsibilities of a real estate broker. Overall, a broker has to perform specific as well as general duties in their field.

The main difference between a real estate agent and a broker is that the latter has the authority to start their own business.  

Brokers can also work as part of a brokerage firm and take on specific responsibilities based on their job category type. Let’s look into detail about the three main broker job categories below: 

• Associate Broker: These types of real estate brokers are generally at the starting point of their careers. An associate broker performs the same or similar duties as a real estate agent but with a broker’s license. As a result, they may earn higher commissions as compared to an agent. Associate brokers may or may not be supervised by a senior broker. 
• Managing Broker: Managing broker is a more senior job position at a brokerage firm. Working as a managing broker means a key part of your job will be to supervise junior brokers and agents. You will also be responsible for overseeing real estate deals, transactions, and paperwork. Managing brokers have to oversee the duties of agents and provide training, licensing, and work opportunities to agents. 
• Principal Broker: Sometimes also known as designated broker, a principal broker is the senior most authority at a brokerage firm or real estate agency. The job responsibilities of a principal broker include supervising the working of the brokerage, including overseeing the duties of managing and associate brokers. Typically, principal brokers work on a salary basis. 

Skills and Qualities of a Successful Real Estate Broker

Now that we have discussed in detail the job role and responsibilities of a real estate broker, let us move on to growing your career as a real estate broker. 

Wondering what a real estate broker does to become successful in a competitive market?

First and foremost, you need to fulfill the minimum education and training requirements to obtain a real estate broker’s license. Without a license, your career prospects will be limited and you will not be able to tap into the opportunities in the market. 

Contrary to what many beginners believe, becoming a successful real estate broker in Florida is not merely about finding clients and closing deals. Yes, that is the core part of their job, but it takes more than just knowledge to stand out in a competitive industry like real estate. 

Below are some important skills and qualities that you must learn and cultivate to give your broker’s career a thriving chance: 

• Personality: Skilled brokers are not just helping clients sell, buy, or lease real estate, they are guiding their clients through a decision-making process. Having a pleasant, confident, and affable personality will help you settle into the career more easily. There is a lot of competition in the industry and your personality can help you stand out from the crowd. 
• Knowledge: Real estate is a fast and dynamic industry and to stay on top of your game, you must continue to expand your technical, financial, and legal knowledge. Successfully brokers understand that an investment in knowledge pays the best dividends. Hence, they duly complete post-licensing training and continuing education to update their knowledge of real estate laws, guidelines, markets, trends, and industry updates. 
• Attention to Detail: As a broker, your responsibilities will include supervising the work of agents and associate brokers. Having strong attention to detail is a great skill to boost as you work on paperwork, deeds, contracts, financial records, and transaction documents. Good attention to detail will bring rigor to your work and help you identify potential errors.
• Self-motivation: Working in real estate can be challenging, especially when the market is filled with competition. To become a successful broker, you must develop self-motivation to go through tough days. The markets can be rough and the industry has its share of low patches. To sustain through difficult times, you will need drive and determination.

These are just a few of the most important skills and qualities you will need to ensure success in the real estate industry.

Steps to Get A Real Estate Broker’s License in Florida

Now that you have a good understanding of who a real estate broker is and what are their job roles and responsibilities, let us move on to the most important part - how to become a broker in Florida.  

The first step to becoming a real estate broker in Florida is to get a broker’s license to practice in this industry. This means that you must fulfill all the education and eligibility requirements as established by the Florida Real Estate Commission (FREC). 

Firstly, let us look at the basic eligibility requirements for a Florida real estate license: 

• You must be at least 18 years of age or older
• You must possess a high school diploma or graduation education
• You must have at least two years of real estate salesperson experience within five years of applying for the broker’s license. 

According to the rules laid down by the Florida Real Estate Commission (FREC), aspiring real estate brokers must complete 72 hours of pre-licensing coursework before they can apply for a license.  

The pre-licensing education will equip you with the knowledge and skills necessary to start working in the industry. You can expect to learn about key topics such as real estate investments, finance, ethics, and taxes. 

Once you have completed the 72 hours of pre-licensing training, you will be eligible to appear for the licensing exam. 

If you successfully clear the licensing exam, you will receive your broker’s license. As part of the final step, you will need to find a sponsoring broker to activate your license. 

Steps to Becoming a Real Estate Broker in Florida

According to the Florida Real Estate Commission, the process of obtaining a broker’s license can be summarized in the following steps: 

Step 1: Fulfill the basic eligibility requirements

Step 2: Complete the pre-licensing education

Step 3: Submit the broker’s license application

Step 4: Take and clear the broker’s licensing examination

Step 5: Find a sponsoring broker to activate your broker’s license

Step 6: Complete the post-licensing education coursework

Education and Training Opportunities for Aspiring Brokers in Florida

Brokers in Florida are required to complete mandatory pre and post-licensing training to become successful and keep their licenses active. 

There is a wide array of licensing education and training colleges, schools, and online course providers in Florida. 

You can easily choose based on your needs, expectations, budget, and student reviews. 

However, it is mandatory to complete your pre-licensing and post-licensing education from a FREC-approved course provider.