Your guide to kickstarting a successful career in Florida real estate
Florida offers countless benefits and advantages to thousands of migrant workers, homebuyers and retirees who prefer living in the sunshine state.
From the picturesque natural views and pristine beaches to the beautiful climate and a stable economy, Florida has emerged as a great place to live and invest in.
As one of the hottest real estate markets in the country, Florida has emerged as the 2nd most popular real estate market in the U.S. in the last few years.
Be it the glorious natural abundance or the flourishing and attractive lifestyle choices, Florida’s vivid real estate landscape offers a plethora of options for all kinds of needs.
Thanks to a strong economy fueled by travel, lifestyle, agriculture, technology, and entertainment, Florida’s GDP growth is beating all expectations with its steady growth.
If you are an aspiring real estate professional looking for a part-time side gig or a full-time career, now is a good time to enjoy the myriads of opportunities in Florida real estate.
Working in Florida real estate can enable you to define your own work schedule, find your own clients, and earn commission through the projects you choose to work on.
Did you know that the top real estate agents in FL can earn as much as $150K annually and even the average salary ranges between $50K to $90K in a year?
Most importantly, you can earn a six-figure income while having professional independence and the flexibility to define your work-life balance.
Imagine having a secure career where you get to meet and help people and expand your professional network - a career in real estate can unlock many amazing possibilities.
To build a thriving, long-term career in real estate, you need to first obtain a license and prove your eligibility.
If you want to work with clients, help them buy and sell real estate, and earn a commission, then it is imperative that you obtain a real estate license in Florida first.
Since only licensed professionals are legally able to participate in a real estate deal, getting your license is a crucial step in achieving professional and financial independence.
To help you get started, we have put together this detailed guide which covers all the steps involved in becoming a licensed real estate agent in Florida and embarking on a new career.
Understanding Florida’s real estate landscape
You might be wondering how to get a Florida real estate license and embark on an exciting and rewarding career path.
However, before you start preparing for the licensing process, it is important to take a step back and understand what makes Florida’s real estate a flourishing market of opportunities.
Be it single-family residential homes or grand villas and sea-facing luxury condominiums - the Peach State offers diverse property choices for different needs and preferences.
Beyond the pleasant climate, world-class tourism, and beautiful natural attractions, the Peach State is also home to a strong job market with industries like technology, finance, and healthcare.
Did you know that 20 out of the top 500 Fortune companies in the world are headquartered in Florida and the state’s job outlook is currently amongst the best in the country?
The housing market in Florida has been strong and it continues to show resilience despite the temporary downturns.
Currently, home prices in Florida have increased by around 9 percent compared to last year and there is plenty of demand for commercial real estate as well.
Most importantly, Florida has a net positive migration rate which can be attributed to its growing population and its popularity as a place for retirees and skilled professionals.
This means when it comes to real estate investments such as buying a single-family home, choosing a rental place, or investing in a commercial property, Florida offers exciting and attractive prospects to individuals.
As a result of this, real estate agents and brokers in FL can take advantage of the influx of homebuyers, migrant workers, retirees, and real estate investors.
Cities like Miami, Tampa, Ohio, Fort Lauderdale, Cape Coral, and Jacksonville are some of the most popular real estate markets in Florida to start your career.
Benefits of working as a real estate agent in Florida
If you are reading this, you might be interested to learn more about how to get a FL real estate license but it is important to understand the need and benefits of getting licensed.
Like most states, Florida requires individuals and aspiring professionals to complete the various licensing requirements and obtain a license to work legally.
Since real estate is a heavily regulated industry that operates on an established set of rules, regulations, and laws, it is essential to prove your competence to work with clients.
As per the Florida Department of Business and Professional Regulations (DBPR), it is mandatory to fulfill the education background verification requirements to qualify.
However, if you are willing to put in the effort and time, you can reap numerous benefits and advantages of working as a licensed real estate agent including the following:
1. High-earning potential:
Licensed professionals are able to tap into more job opportunities and attract real estate client deals due to their credibility and commitment to their profession.
Since only licensed agents and brokers are allowed to earn a commission, getting an FL real estate license will open up avenues for generating extra income.
The best part is that there is no limit to how much you can make as a licensed professional - the more deals you close, the more commission you make.
2. Higher trust and credibility;
Getting a Florida real estate license will make you more trustworthy and boost your credibility amongst industry professionals, peers, and clients.
Since getting a license requires commitment and time, it is proof that you are serious about pursuing a professional path and can put in the time required.
Licensed individuals are perceived as more reliable and professional and clients prefer working with professionals whom they can rely on for giving the right advice.
3. Legal and regulatory compliance:
As per state and federal regulations, if you want to engage in a real estate transaction and help consumers make financial decisions, you need a license.
To protect the rights of consumers and safeguard their interests in real estate deals, the law only permits licensed professionals to work in the industry,
When you obtain a license, you become compliant with the state and federal regulations. By doing so, you fulfill the various regulatory guidelines of the FREC.
By now you should be clear about the various benefits of obtaining a license, especially if you are looking at building a long-term, thriving career.
There are many doors and opportunities that can be opened only by licensed professionals.
Once you secure your real estate license, you will be able to boost your professional outlook and add an additional layer of professionalism to your profile.
Steps for becoming a licensed real estate agent in Florida
Step 1: Meet the basic eligibility requirements
Like most states, Florida requires aspiring professionals to fulfill a basic set of statutory requirements to prove their eligibility for a license. As per these requirements, you must:
- Be at least 18 years of age or older
- Have a high school diploma or GED equivalent in education
- Be a legal resident of the United States or a lawfully admitted alien
Meeting the above prerequisites is a must if you want to qualify for any professional role and license.
Step 2: Complete pre-licensing education
The Florida Division of Real Estate (FREC) requires every individual to complete at least 63 hours of pre-licensing education from a state-approved education provider.
You have the freedom to choose between joining a physical, in-person classroom-based environment or enrol in an online Florida real estate course for your education.
During your pre-licensing education, you will cover the fundamental topics and subjects related to your profession and the industry. Some of the mandatory courses are as follows:
- Principles of Real Estate
- Laws of Real Estate
- Ethics, Fair Trade and Consumer Rights
The goal of pre-license education and training goes beyond a mere mandatory requirement - it is to understand how real estate works and what are its laws, rules, and regulations.
Most importantly, pre-license education will also help you prepare for the salesperson licensing test in Florida which is going to be the next step in your licensing journey.
After completing your education, make sure to obtain a certificate of completion which you must keep handy for future use.
Step 3: Pass the Florida salesperson license exam
To become licensed, you must pass the real estate licensing exam in Florida which is
designed to test the level of preparation.
First, you must schedule the exam by submitting an application with your certificate of completion of pre-licensing education and background clearance.
Once your application is approved by the Department of Business and Professional Regulation (DBPR) in Florida, you can schedule your salesperson licensing exam.
You can choose a preferred date and time for taking the licensing test at any of the Pearson Vue centers in Florida.
The duration of the exam is three hours and it consists of 100 multiple-choice questions covering both state and national specific portions.
You will get a total of 3 hours to attempt all the questions. To pass the exam, you must score at least 75% or above in the final score. Taking the exam will cost you around $58.
You can take as many attempts as required however if you are unable to clear the test by your third attempt, you will have to take your pre-license education and training all over again.
When it comes to the difficulty of the Florida real estate licensing exam, it depends greatly on how well-prepared and confident you are.
Generally, the passing rate for first-time applicants is around 50 percent but if you have completed your pre-licensing education and practiced well, it is achievable.
This is why investing in a reputed and proven real estate school or online course provider is essential as it helps to boost your preparation.
Step 4: Find employer sponsorship
Once you have successfully completed the steps listed above, you should obtain your salesperson license within a few weeks.
However, to start working with clients and earning commission, you must first activate your license.
To do so, you need to find employer sponsorship and share the details of your sponsoring broker or brokerage firm on the Florida DBPR website online to activate your license.
As per the state law, it is mandatory for every newly licensed agent to practice under the supervision of senior, more experienced brokers in Florida.