Understanding the Cost of Getting a Real Estate License in Florida
Starting a new career in the real estate industry can be a lucrative and rewarding career move, especially due to the rising demand for housing and a steady economy.
Did you know that as of 2023, there are around 1.5 million active real estate professionals in the country? Despite that, the industry is welcoming skilled and dedicated individuals who want to make a thriving career.
The housing market in the country is worth $4 trillion and to meet the rising demand for homeowners, buyers, and investors, the market needs more agents and brokers than ever.
One of the most sought-after real estate markets in the country, Florida is home to beautiful beaches, stunning views, and a tropical climate.
Owing to its natural beauty, pleasant weather, and stable economy, Florida continues to attract homebuyers and investors from all over the country.
Are you aspiring to be a real estate agent in Florida? If so, you have made the right choice in moving towards a highly fulfilling and rewarding career. Now that you have prepared to take the next steps in pursuing your dream, it is important to understand the investment it requires.
To help you learn about how much it costs to get a license in Florida, we have put together this detailed guide to help you plan and prepare.
In this guide, you will learn about the different cost aspects of becoming a licensed agent and how much you will need to spend in total before you start working.
Factors Affecting the Cost of Getting a Real Estate License
Real Estate School Cost
The first step to becoming a real estate agent in Florida is to go through the 63 hours of pre-licensing coursework as required by the Florida Real Estate Commission. The coursework must be approved by the FREC and completed online or from an accredited real estate school.
The coursework covers the fundamentals of the real estate industry and includes subjects like real estate laws, principles of real estate, and ethics. After you complete the coursework, you will have an in-depth understanding of the real estate industry in the state.
After successfully going through the 63 hours of pre-licensing education, you acquire the eligibility to sit for the licensing exam.
The real estate school cost varies depending on the school, college, or course provider. Further, it will vary based on the medium of learning i.e. whether you join an in-person class or learn through online sessions.
There are multiple courses and study packages available for students to meet their learning needs.
Generally, the cost of completing pre-licensing education varies between $100 to $700 and there are multiple options available at each budget range.
What Does It Cost to Take the Real Estate Exam in Florida
You have to pay $36.75 per attempt to take the Florida real estate licensing exam
Note that to pass the exam, you must score at least 75% in the test which means that you have to get 75 of the 100 questions right.
You will have to submit your license application to the Florida DBPR before you take the state licensing exam.
Florida Real Estate License Application Fee
To become a licensed real estate agent in Florida, you will have to complete and submit an application to the Florida Real Estate Commission.
Currently, the application fee for a Florida state agent license is around $84 and it can be paid online at the official website of the FREC along with your application.
To do so, you can visit the Florida Department of Business and Professional Regulation (DBPR) website and submit the application online or do the same in person.
A Florida real estate license application can also be made through email and the payment made online.
Florida Real Estate License Renewal Fee
Simply obtaining a real estate license is not enough to build a thriving career in the industry.
As per the Florida Real Estate Commission (FREC), every active license holder must complete additional education and coursework to maintain their license.
Licensed real estate professional in Florida must renew their licenses every two years. To do so, FREC requires them to complete continuing education coursework fees and pay the requisite license renewal fees.
For example - a real estate agent will need to pay $32 to renew their license, whereas if you are a real estate broker you will pay $36 for renewal.
Note that if you fail to renew your license within the stipulated time, then there is an additional late fee of $25 to be paid along with the renewal cost.
Real Estate School Cost
Overview of Real Estate Schooling in Florida
To appear for the licensing exam and acquire a real estate license in Florida, you must complete 63 hours of pre-licensing coursework. The cost of the study materials depends on state-approved individual schools or online course providers.
What Are The Factors That Determine the Cost of Pre-Licensing Coursework
Typically, state-approved real estate schools or online course providers charge anywhere between $80 to $400 for the pre-licensing study materials.
The real estate school cost depends on the teaching methodology of the school, your preferred study package, and the mode of content delivery.
In-person classes and colleges are more expensive as compared to learning from an online course provider.
Additional Expenses Related to the Florida Real Estate Exam
In addition to completing your real estate training, you will also be required to submit your electronic fingerprints along with your application.
Only when your fingerprints are validated and verified by the Florida Department of Business and Professional Regulation (DBPR), you will be eligible to appear for the state licensing exam. The cost of verifying your fingerprints and issuing of a clearance certificate is $84.
Florida Real Estate License Renewal Fee
If you are a licensed real estate professional in Florida, you must renew the license every two years before it falls due. For this, it is mandated by the FREC that you must complete the required continuing education hours of coursework.
This way, all active license holders can stay up-to-date with their knowledge and upskill themselves with the latest rules and regulations.
For first-time renewals after the license issue date, the norm is 45 hours of continuing education for real estate agents and 60 hours for brokers. For subsequent renewals, only 14 hours of continuing education is required consisting of the following courses.
- Real Estate Law (3 hours)
- Business Ethics (3 hours)
- Real Estate Electives of your choice (8 hours)
Florida Real Estate License Renewal Fee
Even after obtaining your Florida real estate license, you will be required to pay renewal fees to maintain and update your license.
Think of it as an investment in your career - as the state of Florida requires every real estate professional to complete post-licensing training and continuing education.
After completing one year with your real estate agent license, all active agents are required to complete 45 hours of post-licensing training. The average cost to complete the 45 hours of continuing education in Florida is $110.
Renewal Requirements and Additional Costs
As mentioned above, real estate agents have to complete 45 hours of coursework for first-time license renewal. The same for brokers is 60 hours. The courses provide the professionals with the latest knowledge and updates in their field.
The subjects covered in the continuing education courses are as follows:
- Real estate laws and regulations
- Real estate housing laws and fair practices
- Real estate finance and calculations
- Real estate licensing and qualifying requirements
- Real estate rules, violations, restrictions, and disciplinary practices
You have to apply for license approval on the website of the Florida Department of Business and Professional Regulation (DBPR). The fees are $25 for sales associates and $36 for brokers. Further, typically, the continuing education coursework costs between $100 to $250 depending on the real estate school or the online course provider charges.
Total cost to get a Florida real estate license
Wondering how much does it cost to get a license in Florida?
You will have to pay fixed charges at different stages of the process of getting a license.
As a general lump sum figure, you will be expected to spend anywhere between $300 to $350 to obtain a real estate agent license in Florida.