The Florida real estate industry is exciting and rewarding at the same time. It is believed that the profession of a Florida real estate agent or broker is a well-paying choice as a career. This comes from industry experts who have been working in this field for several years. However, just like every coin has two sides, this industry comes with its own set of challenges and obstacles. To achieve success in this field, your professional goals must meet your personal goals.
Let us decode the roles of both, brokers, and agents:
The role of agents and brokers is as complex and extensive as a spider’s cobweb. Even though the role of a broker is different from that of a Florida real estate agent, they both prove to be complementary to each other in many aspects. Both have different levels of responsibilities and roles to play in the industry.
As the Florida real estate industry is highly dynamic and ever-changing, real estate brokers and agents must keep themselves current with the changes taking place around it. This keeps the client’s interest and welfare at the summit of all property operations and transactions.
Let us learn who is called a broker
A licensed professional who deals in real estate with property buyers and sellers is a real estate broker. He/she is responsible for facilitating the buying and selling process and getting the leasing of properties done on behalf of their clients. They are authorized to run their real estate firms and manage their clients’ real estate transactions.
Who is a Real Estate Agent
After knowing who a real estate broker is, a real estate associate, is a professional who is responsible for taking clients through the process of selling and purchasing properties only if he has a valid license for it. They work under the lens of a licensed real estate broker and thus play a limited role in the property transaction processes. They only give assistance and work under brokers.
Let us learn the differences Between Real Estate Brokers and Agents
While both are essential to keep the real estate industry running, there is a big difference in the roles and responsibilities they both hold as professionals.
- Talking about professional independence, brokers are authorized to run and operate their real estate firms independently without being supervised.
- On the other hand, real estate agents hold less professional independence as they must work with the broker under their guidance and supervision. They are not authorized to carry out independent property transactions without running them by their sponsoring broker.
- A broker has a supervisory role in the industry. They help agents prepare for any upcoming challenges and obstacles. An agent works under supervision and guidance as they assist in the transactional process and work in alignment with their broker’s knowledge and experience.
- A broker undergoes more extensive and demanding educational programs and courses than an agent. They also need prior experience to apply for a broker’s license. In contrast, the agents are required to complete their pre-licensing courses and pass the licensing examination. After this, they can start practicing under a sponsoring broker of their choice immediately.
- Brokers in Florida are allowed to run their real estate firms and operate individually if they fulfill all compliances demanded by the regulatory authority of the state. An agent on the other hand is not authorized to work independently. They must operate with a licensed broker only.
The Importance of brokers and agents in the Florida Real Estate Market
Real estate agents and brokers in Florida play a critical role in property deals. To understand their significance and contribution to their industry, we must dive deep into it. Why are they important for the industry?
- They have in-depth knowledge of the market conditions. They are adept at understanding the nuances and fluctuations that the market faces in different conditions. They are fluent in functioning according to market requirements.
- They are great navigators for clients, directing them in choosing the best and rewarding real estate property. They have the knowledge and skill to grab good deals and bargains for their clients.
- Florida real estate brokers and agents are knowledgeable in understanding the legal nuances and compliances. Therefore, it is natural that they are well-versed in the field and act as professional guides for their clients. This is how they shield them from unwanted legal frictions and complications.
- During the course and apprenticeship days, you as a broker or agent are trained to become the best negotiators. That is how you know how to get the best deal for your clients by skilfully negotiating on their behalf.
- Networking is extremely essential in this industry. To survive in this industry, you must have a solid network of real estate experts and professionals. This will help you in building your professional real estate portfolio.
- The real estate in Florida every year attracts many buyers and investors. This is a great boost for the state economy and in turn stimulates the real estate market.
Becoming a Florida real estate broker is a demanding process but not difficult. You can become a real estate broker by following a guided step-by-step process.
Know about the necessary steps in fulfilling Florida's Pre-Licensing Education Requirements
- You must be at least 18 years old or above to apply for a license.
- You must complete 72 hours of pre-licensing education course thoroughly by renowned course providers.
- You must cover topics of law, ethics, principles, broker-specific laws, property management in your licensing course, etc.
- You are at liberty to complete the chosen course from an offline or online platform as preferred.
Successfully passing the Broker Exam
- You must apply for a broker’s license with the regulatory body soon.
- You can schedule your exam by following the given instructions once you do the preliminary needful duties. You have the option to take online or offline exams at your convenience.
- You must study for the exam and go through relevant and current materials provided by the course provider. The curriculum is extensive.
- You must pass both the National section and state section of the paper as both are of essential importance. They both make the whole pattern of the paper.
- You must score 75% aggregate marks in the national and state sections respectively to clear the examination. The exam comes in a multiple-choice question format.
Looking at the application and licensing process:
You must be 18 years or above in age as it is the basic requirement.
- For a minimum of 24 months, you must have owned a valid real estate license.
- Completing a high school diploma to apply for a real estate license is a must. This is one of the basic eligibility criteria required.
- Must have a U.S Social Security Number.
- Before applying for a broker’s license in Florida, you must have a minimum of 2 years of experience as a real estate salesperson. Having work experience is an essential requisite for getting a broker’s license.
Continuing Education and Renewal Requirements for Real Estate Brokers
- You must complete the 60 hours of continuation program during each renewal period. Find below the breakup of these course hours:
- Core law, covering real estate laws, compliances, and regulations of the state - 14 hours.
- Ethics curriculum which involves business morals and business practice courses- 15 hours
- Speciality credits for specialized programs and electives involving real estate- 11 hours
- Additional real estate comprehensive education module- 20 hours
- You must renew your real estate license every 24 months as it is essential for continuing programs.
- As the deadline usually falls on 31st March or 30th September every year, you must choose your timeline
An Overview of Becoming a Real Estate Agent in Florida
The question generally uppermost in the minds of aspiring real estate agents is how to become a real estate agent in Florida. You can become one by following a guided step-by-step process.
Follow the steps mentioned below to work as a Florida real estate agent:
Steps to fulfill Florida's Pre-Licensing Education Requirements are as follows:
- You must have completed 18 years of age or above before applying for the license.
- You must have completed a high-school diploma or similar before applying for a real estate agent license.
- You must be a U.S. citizen and hold a valid social security number.
- Enroll and complete the 63-hour pre-licensing coursework from an accredited and reputed course provider.
Learn more about how to take the Florida Real Estate Agent Exam
- The first step is to apply to take the real estate license exam.
- You must cover essential topics like real estate laws, principles, and ethical business practices given in the course curriculum.
- You must pass both, the national section, and the state section of the licensing exam with an aggregate of 75% or more to clear the exam.
How to apply for a Florida estate agent license? Let us follow the steps:
- You must fulfill basic requirements stipulated by the state’s real estate body
- You must be 18 years of age or older.
- It is the minimum age requirement for being eligible.
- You must have graduated high school with a diploma.
- You must submit your pre-licensing education transcripts, documents, and allied documents to apply for a real estate license.
- You must go through the fingerprint and background checking process. This is controlled by the state-approved authority of Florida.
- You must pass both the national and state sections of the examination, which is mandatory, with a 75% or above score.
- You must get associated with a real estate broker who will sponsor you. This will help you gain hands-on experience and guidance from an experienced broker in the field.
- You must complete 45 hours of post-licensing renewal education course. This course provides additional information, knowledge, and skills to aspiring agents like yourself. This is a bit different from a continuing education course because it is designed to fulfill different requirements.