An Overview Of How To Get A Real Estate License In Florida Online
Do you want to get a real estate license in Florida? Are you aspiring for a career where work-life balance is perfect and you have the option of deciding your work schedule? Or maybe you want all these benefits while still earning a six-figure income. If these are your goals in life, welcome to the world of real estate as a Sales Associate in Florida.
Before going into the various aspects of how to get a Florida real estate license, the main question is when do you need a real estate license. A license is mandatory if you buy, sell, lease, or rent real estate on behalf of clients and earn a commission for the work. You do not need a license if you do this work for yourself.
This aspect is mandated by the Florida Department of Business and Professional Regulation (DBPR). It is the controlling body for the real estate sector in Florida and has multiple functions. It sets the curriculum for pre-licensing courses in the state, issues licenses, decides whether licenses should be awarded to applicants with a past criminal record, and so on.
To start your journey of how can I get my real estate license in Florida, you have to begin from being a Sales Associate. This is the designation of fresh entrants in the real estate field in Florida. This designation is not standardized across the country. In some states, the entry-level is as a real estate agent while in Colorado and New Mexico, for example, the entry level is as a Broker and then going on to become a Managing Broker.
As a Sales Associate in Florida, you will not be allowed to work individually and have your own brokerage firm. You must work under a broker or a brokerage firm initially till you qualify to be a broker after two years as a Sales Associate. For help in setting up your business, you might have to share your commission from real estate sales with your sponsoring broker.
The DBPR will not issue a license directly to you after you pass the licensing exam and complete all the other formalities. The license will be issued in the name of the brokerage firm where you are initially employed and will be transferred to the next brokerage should you decide to switch jobs.
In this post, we will answer your question about how do I get a real estate license in Florida with a focus on the procedure in detail, the cost to get a license in Florida, and the approximate earnings after you become a Sales Associate.
However, before getting down to the nitty-gritty of how do I get a real estate license in Florida, let us check out the real estate scenario in Florida and whether it is lucrative enough to become a real estate Sales Associate in Florida.
The Real Estate Landscape in Florida
The real estate market in Florida is set to grow exponentially over the next five years at a rate that is above the national average. Strong job markets and the resultant high population growth are some of the main reasons behind this trend. This makes the state the 3rd fastest-growing real estate market in the USA with Miami, Tampa, Jacksonville, and Orlando leading the charge.
The growth is not limited to any sector alone and includes residential, commercial, and industrial properties. Hence, if you are an aspiring real estate Sales Associate in Florida, the sky is the limit, regardless of the type of property you might choose to specialize in. The demand for properties is further boosted by the appeal the state has for retirees, young professionals, and people from all walks of life.
The latest trends in the Florida real estate landscape do not indicate any drop in prices in the future. While there are price fluctuations, the demand for real estate is not likely to drop as the demand for Florida housing supports price stability in the short term. Both the coastal and inland regions of the state have a strong housing market currently with high levels of activity.
There is no evidence of a market cooldown at present even though rising interest rates could temporarily affect buyer affordability. However, the demand for housing remains high, supporting constant market activity.
The point here is that because of the booming real estate market in Florida, you will quickly get off the mark as a Sales Associate. Whether you are selling, buying, leasing, or renting real estate on behalf of your clients, there will be a constant stream of commissions for you.
So, how do you take the plunge to how can I get my real estate license in Florida?
Typically, every step of the process to become a Sales Associate in Florida can be completed online. As we shall see, from going through the pre-licensing coursework and applying for a license, to fingerprint verification, everything is processed online through the DBPR portal. This not only saves time but is very convenient too.
5 Steps To How To Get a Florida Real Restate License.
Before you can start the process of getting a real estate license and becoming a Sales Associate in Florida, a few basic requirements must be fulfilled.
Ensure that you are at least 18 years old. This is the cutoff point for applying for a real estate license in Florida. This does not mean that you must wait till this time to start fulfilling the other eligibility requirements such as completing the pre-licensing coursework or appearing for the licensing exam. The point is that you must be 18 years old on the day you apply for a real estate license.
You must also be a citizen of the USA with a Social Security Number. Migrants who have been legally admitted into the USA and have been granted working rights in the country can also apply for a real estate license in Florida.
Finally, on the education front, it is necessary to have a high school diploma or an equivalent GED. With these basic requirements out of the way, you can kickstart the steps on how do I get a real estate license in Florida.
Step 1: Complete the pre-licensing coursework
Going through the pre-licensing coursework is a critical step in your journey to becoming a real estate Sales Associate in Florida. While this is common to all states of the USA, the duration differs between states. In Florida, it is 63 hours while it is 180 hours in Texas and 135 hours in California, for instance.
The reason why completing the coursework is so important and mandated by the DBPR is that it gives you a solid foundation on which you can base your career. The real estate industry is governed by rules and regulations that are very complex, to say the least. One error in your career can get you into a lot of legal problems, more so since substantial amounts are involved in any real estate transactions.
The pre-licensing coursework imparts all the required knowledge for a trouble-free career. The subjects of the course cover various aspects related to the real estate sector. They are as follows:
- Florida license and state laws
- Real Estate contracts and closing
- Real estate ethics
- Real estate marketing
- Property management
- Real estate finance
- Industry rules and violations
- Foreclosures
While there are several course providers, you must do a lot of research before choosing one. All courses are not designed equally even though the course curriculum is the same. Let us now go through a few factors that should determine your choice of a course provider.
DBPR-approved courses: This aspect is critical and you must select a course that is state-approved and has the nod of DBPR. Going through any unauthorized courses will not be counted as having completed the pre-licensing educational norm of 63 hours to appear for the licensing exam. It is always advisable to visit the DBPR portal to check the list of approved courses before selecting one. Do not waste time and money in going through pre-licensing coursework that does not have any value.
Evaluate the course instructors: Select a course that is designed and created by top professionals in the real estate field. Only then can you be sure of the quality of the coursework. This is especially true for online courses as only experienced professionals can get the lessons through to you optimally in a virtual environment. Apart from online courses that allow live interaction, online teaching is typically a one-way channel, unlike classrooms where close interaction between students and instructors is possible. Hence, the expertise of instructors is a crucial point in selecting a pre-licensing course.
Online or Classroom courses: You have the option of choosing between online or classroom-based courses based on which suits you more depending on your preferred learning style. If you have any doubts, the following comparison of the two will help to make up your mind.
In online courses, you can download the study materials onto any Internet-enabled device such as a mobile, tablet, or laptop. This allows you to study from any location at any time without being tied down to a fixed routine as in real estate schools or colleges. Further, commuting from your residence to classrooms can eat into a major portion of your time that could be spent more fruitfully completing your course hours.
Apart from the time and location factors, classroom-based courses are typically more expensive. Classroom lectures cost around $500 to $800 for the complete session while online courses are available for around $200. This does not reflect in any way on the quality of the courses, rather online courses do not have to invest in infrastructure typically connected with physical schools, hence the low prices. This aspect adds to your convenience of how to get a real estate license in Florida online.
If you are looking for an online provider who offers high-quality courses that are designed by leading real estate professionals, and yet will not cost you the earth, check out the study materials from RealEstateU. Their basic courses start at only $69.
Package type
While the course outline and the subjects to be studied for the licensing exam are fixed by the DBPR, there is no standardized licensing package. Every course provider has their own teaching style and you must carefully evaluate them so that you get the most value for money.
Let us take the example of RealEstateU again to understand this point better. Their basic course starts at $69 and is ideal for students who only want the outlines of the subjects and are self-motivated enough to complete the 63 hours of coursework on their own. The next package from RealEstateU costs more but has more elaborate training materials. You are given e-textbooks that allow you to repeatedly go back over the lessons along with study guides and practice questions.
Practice questions are very important for thoroughly preparing for the licensing exam and being able to pass it on the first try. Once you complete a chapter, you will get practice questions to test your knowledge of the subject. If you score well, you move on to the next.
Step 2: Fingerprint submission
Sales Associates are expected to maintain high moral standards and financial integrity. A fingerprint check is one way of knowing whether you have any past criminal records that might bar you from getting a real estate license from DBPR. The fingerprints must be submitted to the DBPR through a Livescan Service Provider who is approved by the Florida Department of Law Enforcement (FDLE).
The scanned fingerprint images will be sent by the Provider to FDLE using an Originating Agency Identification (ORI) number which is FL920010Z for real estate Sales Associates and Brokers.
Step 3: Apply online for a Sales Associate License
Your next step in how do I get a real estate license in Florida is to apply for a Sales Associate License online on the DBPR portal. After approval of your application, you will be issued a real estate application ID number.
Step 4: Appear for and pass the Florida licensing exam
The licensing exam in Florida is conducted by Pearson Vue, an agency that offers assessment services to national associations and regulatory agencies. Create an account on their website and schedule a licensing exam after submitting proof of having completed the 63-hour pre-licensing coursework.
You must appear physically at a designated exam center though the test is held online. You must answer 100 multiple-choice questions in three and a half hours with the pass grade pegged at 75%. Being an online test, the results will be declared in pass/fail format immediately after completion with a confirmatory email following soon after.
Step 5: Find a licensed broker to sponsor you
You cannot start your own business or work independently after passing the licensing exam, you must find a licensed broker to sponsor you. The purpose of this clause is that you will learn the ropes of the real estate sector from an experienced broker before branching out on your own after a couple of years.
The real estate Sales Associate license issued by DBPR will be in the name of the broker or the brokerage firm you are associated with. For training you in this field and providing the required infrastructure to start work in an office, brokerages often claim a part of the commission you earn.
These are the steps to how do I get a real estate license in Florida and start a very rewarding and lucrative career in the state.
Expenses For Becoming A Real Estate Sales Associate In Florida
An important point now is how much to get a real estate license in Florida.
There are two parts to it – fixed and variable costs.
Fixed costs:
- Real estate license examination fee: $38.50 per attempt
- Application fee for a real estate license payable to DBPR: $83.75
- Fingerprinting and background check: $85.50
Total fixed costs are $207.75
Variable costs:
These are the expenses for the pre-licensing coursework and depend on which learning channel you choose. Typically, classroom-based courses cost between $500 to $800 while online courses range between $100 and $250.
Hence, the answer to how much to get a real estate license in Florida is between $307.75 to around $1000.
Once you are issued a license, you need to pay around $400 per year as errors and commissions insurance to keep your license active.
This answers your question how to get a real estate license in Florida online.