Your Guide to Exploring Real Estate Careers in Florida
If you are someone who believes that a dream job is a means to earn a handsome salary while working on your terms, then a career in real estate might just be what your calling is.
There is a reason why many young individuals as well as experienced professionals are planning to work in real estate.
The industry has been growing steadily over the last few years and the demand for skilled professionals is higher than ever.
The state of Florida is rich in diversity in real estate. One of the ways to build a rewarding and lucrative career as a resident is to be a real estate professional practicing in the state.
This aspect is proved by statistical data which put the value of real estate in Florida as the second highest in the country in 2023. To top this amazing data, 4 cities in Florida were among the top 5 fastest-growing cities in the USA post the Covid pandemic.
Did you know that as a Florida-based real estate agent, you can easily make an average annual income of $100K with the right skills, knowledge, and work experience?
Additionally, you can earn extra cash commissions on top of the base salary making it a lucrative career path.
If you are looking to explore real estate careers in Florida and want to learn more about your options, then this article is for you.
We are going to give you a rundown of what to expect from a real estate career and how to prepare yourself for success in Florida’s flourishing real estate market.
Why Is Having A Real Estate License Important in Florida
Overview of Real Estate Licensing in Florida
Wondering what can you do with a real estate license and why it is important to have one?
It is mandatory to have a real estate license in Florida if you want to sell, purchase, lease, or rent properties on behalf of clients. This is regardless of whether you want to be a real estate agent, broker, or realtor.
This rule has been established by the Florida Real Estate Commission (FREC), the body governing the real estate industry in the state.
As per the regulations of the FREC, all aspiring real estate professionals must go through pre-licensing coursework and pass the Florida licensing exam to be eligible for a license. The exam consists of multiple-choice questions and you must answer at least 75% of them correctly to crack the test.
What is The Role Of a Florida Licensed Real Estate Agent
As a licensed real estate agent in Florida, there’s going to be a lot on your plate and you should expect to juggle a range of tasks daily.
Below is a salient list of some of the key responsibilities of a licensed real estate agent which are common across the states:
- Assist buyers and sellers through the journey of buying and selling real estate
- Help clients find their desired home and meet their real estate needs
- Provide suitable investment options to real estate investors
- Plan, attend, and conduct house visits and property shows
- Find homes for sale and lease using the local multiple listing service
- Determine the fair market value and listing price for a property
- Research the local real estate market, housing prices, and emerging trends
- Working with home appraisers, real estate inspectors, and attorneys during a transaction
- Completing the required paperwork and documentation to facilitate the deal
- Address all the inquiries and concerns of their clients
As you can see, the list of duties and responsibilities of a real estate agent is long. In this job role, you can expect to be at the forefront of the different stages of a real estate deal.
Needless to say, there is never a dull day in the life of a real estate agent because there’s so much to do and learn about while getting paid.
Benefits of Obtaining a Real Estate License in Florida
You might be wondering why is getting a license a mandatory step to start a career in real estate.
Real estate is a relationship-driven industry where getting people to trust you can be pretty hard in the initial years of your career.
Home buyers, sellers, and real estate investors seek the best value for their money and they do not want to get into any compliance issues or legal complications.
By working with licensed professionals, they can easily safeguard their investment and financial decisions. A license gives you professional credibility and you can approach potential clients with confidence.
Unlicensed professionals have no clear path to getting promoted, and they do not get access to the most high-paying jobs in the first place.
Therefore, a licensed real estate professional not only has more opportunities to tap into, but they also are considered more trustworthy and credible in the industry.
In many states, including Florida, unlicensed real estate agents are not allowed to earn commission as per the law.
Therefore, a licensed real estate professional not only has more opportunities to tap into they are considered more trustworthy and credible in the industry.
Moreover, licensed real estate agents get access to the MLS or the Multiple Listing Service which is a database of local properties in a state.
Using the MLS, agents can scout for opportunities and connect with buyers and sellers in an area.
Another great benefit of having a Florida state real estate license is that you can get access to the large national network of realtors as you progress through your career.
Realtors get more opportunities to promote their services as they are generally reached out by clients directly.
Real Estate Careers in Florida
Overview of Real Estate Careers in Florida
Thanks to the sunny weather, beautiful beaches, and a stable job economy, Florida has quickly emerged as one of the most popular hotspots for migrant workers, homebuyers, and investors.
The best part is the freedom to choose from a range of real estate careers in Florida whether you want to work as part of a brokerage firm or independently as an owner.
Let us take a look at some of the career choices you can opt for within the industry:
- Real Estate Agent: One of the most common career paths to pursue in the industry, a real estate agent is the starting point for most people. Agents work closely with clients to sell, buy, or lease residential and commercial properties on their behalf.
- Real Estate Broker: Agents who have garnered considerable work experience may apply for a broker’s license in Florida. A broker is a more experienced and skilled agent who also helps clients navigate through the process of buying and selling real estate.
- Real Estate Appraiser: Appraisers are licensed professionals who are responsible for evaluating the fair price and market value of a property. Appraisers work closely with agents to assess homes before they are put for sale, lease, or taxation purposes.
- Property Manager: Property managers are responsible for performing a range of duties related to maintaining a property. These include - finding tenants, collecting rent, listing properties, negotiating leases and scheduling property maintenance.
- Leasing Agent: As a leasing agent, your primary job is to find tenants to find the right property for leaving. You work with homeowners to help them find suitable tenants. You will work on tasks such as lease renewals, documentation, and negotiations.
- Loan Officer: Loan officers are responsible for helping borrowers secure financing for their mortgage loans. As a loan officer, you will be helping clients progress through the different stages of the loan process and educating them about the different loan options.
Apart from the above-mentioned points, there are several other opportunities and ways to make money with a real estate license in Florida.
Some of them include - real estate home inspectors, real estate developers, real estate attorneys, asset managers, and mortgage brokers among others.
Requirements to Obtain A Real Estate License in Florida
FREC rules dictate that all aspiring real estate professionals must meet the following eligibility norms.
These include:
- Must be at least 18 years (or older)
- Must be a U.S. citizen or a lawfully admitted alien
- Should meet the honesty, integrity, and trustworthiness guidelines by the Florida Real Estate Commission (FREC)
Next comes the educational qualifications and minimum requirements. According to the FREC, every applicant must complete 72 hours of pre-licensing coursework from a state-approved college or course provider for pre-licensing education.
As part of the pre-licensing training, you will learn about the fundamentals of the real estate industry and the guidelines set down by the Florida Real Estate Commission (FREC).
Some of the courses in your pre-licensing education include:
- Real Estate Business
- Real Estate Laws and Licenses
- Real Estate Contracts
- Real Estate Commission Rules
- Real Estate Brokerage and Procedures
- Real Estate Appraisal
It is important to complete the training and fulfill the education requirements after which you can take the Florida state licensing exam.
The duration of the FL state licensing exam is three hours and it includes 100 multiple choice questions to test your knowledge and preparation.
To pass the exam, you must score at least 70% or above. Failure to do so will result in non-issuance of a license. However, you can re-appear for the exam within 6 months.
Apply to the FREC for a license once you crack the Florida state licensing exam. Post approval of your application, you will receive your real estate license.