The cost to start a career in Florida real estate
Be it residential, vacation, or commercial, Florida’s flourishing real estate market offers exciting opportunities for real estate agents, brokers, realtors, and investors.
Since the last few years, the prospects for real estate in Florida have skyrocketed, thanks to the highest net migration levels, booming tourism, and a growing population.
In fact, the average selling price of a Florida home has increased by around 30 percent in its value which indicates the growing popularity and rising demand.
With higher occupancy levels, job growth, and low inventory levels, Florida real estate is currently poised to offer good returns to real estate investors and professionals alike.
If you are considering a career in real estate on a part-time or full-time basis, Florida offers one of the hottest and most promising opportunity landscapes in the near future.
The demand for skilled and licensed real estate agents is rising, thanks to the growth in residential and commercial real estate markets.
As a real estate agent, you will be working with clients and helping them in buying and selling residential and commercial real estate in Florida.
This means now is a good time to plan and prepare for an exciting and rewarding career in Florida real estate.
Whether it is the allure of being your own boss or the charm of earning a six-figure income and commissions, a career in real estate is a fulfilling and enriching professional journey.
The best part is that you do not need to spend years obtaining a college degree or advanced education to become a real estate agent.
Did you know that top real estate professionals in Florida are making around $150K to $200K or even more in annual income?
Even the average salary for a new agent is around $90K to start with which means you will be on your way to being financially secured within a few years of working in the industry.
All you need to get started is a Florida real estate license and you will be on your way to work with clients.
A real estate license will be your ticket towards unlocking numerous opportunities for growth and success and it will help you embark on a fantastic, well-paying career journey.
In this article, we are going to give you a detailed rundown of what it takes to become a licensed real estate agent in Florida and how you can easily start your career.
Understanding Florida’s growing real estate market
Based on numerous geographic, economic, cultural, and social factors, Florida’s real estate market continues to witness a strong influx of tourists, skilled workers, retirees, and investors.
The rise in the number of single-family homes for sale and the rising prices of residential and commercial real estate are a testament to the steady demand for real estate in Florida.
Surprised already? Since the last five years, housing prices have increased by almost 80 percent due to the unique combination of vibrant urban metropolis and scenic natural coasts.
When it comes to the reasons behind the real estate rush, there are many different factors at play working together to make Florida the third most populated state in the country.
Let’s take a look at the best real estate markets in the Peach State and why they can be a good place to start your real estate career.
1. Orlando
Orlando’s charm and popularity can be attributed to its bustling theme parks and world-class entertainment centers.
The city welcomes millions of tourists and visitors every year and continues to be amongst the most desirable places for residents too.
Orlando’s real estate market is witnessing a positive influx of crowds around the year which makes it a popular real estate market in Florida for agents and investors.
In the last few years, the economic outlook of the city grew by 5 percent and the city has seen around 35 percent growth in population since the last decade.
Most importantly, the median selling price of an Orlando home has almost doubled year-on-year, making it a popular market amongst real estate professionals.
2. Tampa Bay
A diverse and thriving economy driven by healthcare, shipping, and finance industries, the Tampa Bay region in Florida continues to grow over the years.
Thanks to the rich cultural heritage, world-class beaches, and coastal views, the area has been a popular favorite amongst homebuyers, especially retirees.
The median property value in Tampa Bay has increased by around 25 percent year-on-year, thanks to strong economic growth and a thriving job market.
With the influx of skilled professionals and migrant workers, Tampa Bay stands out as a place that brings together the best of natural serenity and bustling city lifestyle.
3. Miami
It is no surprise that Miami still reigns amongst the hottest real estate markets in Florida and across the country.
The coastal metropolis is renowned for its magnificent natural views, scenic beaches, favorable taxes, and world-class tourism making it the 2nd most populous city in FL.
Historically, Miami has enjoyed a strong and stable real estate market, and even today it is one of the most preferred destinations for homebuyers who want to experience the best of weather, culture, and oceanic beauty.
Miami real estate has soared in value by around 30 percent year-on-year and the state’s attractive lifestyle continues to be a major pulling factor for real estate growth.
4. Jacksonville
One of the fastest-growing suburban metros in Florida, Jacksonville is emerging as an underrated powerhouse with exciting lifestyle and employment opportunities.
Being one of the largest cities by land area, Jacksonville’s economy has been steadily growing and the job outlook is also showing promising growth.
With affordable housing and an impressive 25 percent growth in median housing prices year-on-year, Jacksonville’s real estate market is on a steady rise.
Surrounded by beaches and natural views while being an urban landscape, Jacksonville is a promising choice for homebuyers, migrant workers, and investors.
Being one of the most popular leisure and entertainment destinations in the country, Florida has always enjoyed a strong real estate market due to its tourist charm.
However, in the past few years, the Peach State has also emerged as a favorable state for skilled workers, retirees, and migrants who are seeking affordable housing, a stable economy, and a growing job market.
Thanks to an impressive GDP growth of 30 percent and a projected population rise to 25 million residents by 2025, there’s no better time than now to work in Florida real estate.
Launching your real estate career in FL can be an incredibly profitable professional move and with a real estate license in Florida you can make this dream a reality.
How to become a licensed real estate salesperson in Florida
Like most professions, real estate also follows a pre-established set of licensing rules, regulations, and guidelines for aspiring professionals.
If you want to work with clients and help them buy and sell real estate, you must meet the Florida real estate license requirements and obtain your license first.
In the beginning, you must start with applying for a salesperson license in Florida and after you have gained a few years of industry experience, you can apply for a broker’s license.
Starting a new career might seem overwhelming, especially if it is going to be your first professional job.
To help you get started, we have outlined all the steps involved in getting your real estate license in Florida.
Basic Eligibility Requirements
In Florida, the Florida Real Estate Commission (FREC) has established the minimum qualifying education requirements for all aspiring real estate professionals.
To apply for a salesperson license, you must meet the following statutory requirements.
- Be at least 18 years of age or older.
- Be a legal citizen of the US or a lawfully residing alien
- Have a high school diploma or GED equivalent in education
- Have a non-criminal background with no history of felony or any unlawful activity
The basic statutory requirements are mandatory for all, irrespective of their background, location, or ethnicity.
If you are not completely sure, you can take a fitness determination test to ensure that you fully meet the qualifying requirements.
Education Requirements
Completing education is a crucial step in obtaining your license and proving your eligibility for working in the real estate industry.
Like most states, Florida also requires individuals to complete a minimum level of qualifying education to become eligible for a real estate license.
The FREC requires all applicants to complete 63 hours of qualifying course credits, also known as pre-licensing education from a state-approved education provider.
The duration of the course lasts between a few weeks to months depending on whether you join a classroom-based college or enroll in a self-paced online pre-licensing course.
The pre-licensing education curriculum will teach you the fundamentals of real estate and the various state and federal laws and regulations.
You will learn about real estate principles, real estate law, real estate finance, ethics, and regulations, among other fundamental course topics.
In Florida, there are numerous real estate colleges, schools, and online courses you can choose from. However, it is important that you choose a state-approved education provider.
After you have successfully completed 63 hours of state-approved course credits, you will be eligible to take the Florida sales associate licensing test.
Examination Requirements
Passing the salesperson licensing exam is one of the most crucial Florida real estate requirements if you want to obtain your license.
The FREC requires all applicants to take the test at a Pearson Vue center in Florida and give it their best attempt.
To schedule the test, you must first submit an application to the FREC with a certificate of completion of your education.
Additionally, you will also be required to submit an electronic scan of your fingerprints for federal criminal history and background verification checks.
The sales associate licensing test is a closed-book, multiple choice questions test that consists of state and national-specific portions.
Many students find the test overwhelming at first, especially as it comprises multiple questions of varying difficulty.
The key to passing the test is to boost your preparation with the help of mock tests and sample test papers.
The more you practice, the better you will get at managing the coursework and your time.
Most prominent real estate courses and schools provide test preparation resources and practice material to help students gain confidence and become familiar with the exam.
The test duration is three hours and it will include 100 multiple choice questions. In order to pass the test, you must score at least 75% or above.
Once you successfully pass the licensing exam, you will receive your Florida sales associate license within a few weeks.