Florida has a booming real estate market and is a hot favorite destination for buyers, sellers, and investors in real estate. Rather, it has four of the fastest-growing real estate markets in the USA – Miami, Orlando, Jacksonville, and Tampa. What draws people to the state are the state’s beautiful beaches, diverse culture, and a warm tropical climate.
Add to these plus points are a very strong job market, an economy that is growing at a very fast pace above the national average, and internationally famous entertainment options. All these are enough to draw people to the state wanting to settle here.
It is therefore no wonder that Florida draws aspiring real estate agents like a magnet to set up practice here and earn six figures with hard work and dedication. Once you get your Florida real estate license and launch your career, you earn about $76k in the first year and an average of $95k with 10 years of experience in this field.
However, the top real estate markets offer much more in average commissions – Fort Lauderdale: $113,490 per year, Sunrise: $106,697 per year, Miami: $105,672 per year, and Jacksonville: $103,616 per year.
The profession though is not only about high earnings, there is a lot more to it. You are your own boss, have the flexibility to set your work schedules and have a perfect work-life balance. On the flip side, you are expected to attend showings of properties to prospective clients on weekends and holidays at their convenience.
Steps To Get A Florida Real Estate License
If you want to buy, sell, lease, or rent real estate properties on behalf of clients for commission, you must have a Florida real estate license. This is mandated by the Florida Real Estate Commission (FREC) which is the controlling body for the real estate sector.
This post will take you through the 7 steps to get a real estate license in Florida.
Step 1
To apply for a real estate license in Florida, you must be at least 18 years old and a citizen of the USA. Legally-admitted aliens can also apply provided they have working rights in the country. Additionally, you must have a high-school diploma or equivalent such as a GED.
Step 2
Complete the 63 hours of pre-licensing education, among the crucial components on your journey to get aFlorida real estate license. The coursework imparts knowledge about the various aspects of the real estate industry and prepares you to provide excellent services to your clients in the future.
At this stage, it is important to choose a top-quality pre-licensing course that will enable you to pass the licensing exam on the first try. Among the leading online and FREC-approved course providers in Florida is RealEstateU. Their courses are designed by leading professionals in this niche and hence the quality of the study materials and instructions are assured. Moreover, compared to other pre-licensing courses, theirs is the least expensive in this niche.
The 63-hour pre-licensing coursework covers a wide range of topics as follows.
- Real Estate Business
- Real Estate Laws and Licenses
- Real Estate Contracts
- Federal and State Laws
- Real Estate Commission Rules
- Real Estate Brokerage and Procedures
- Real Estate Appraisal
- Authorized Relationships, Disclosures, and Duties
- Violations of Real Estate Laws, Penalties and Procedures
- Types of Mortgages
- Titles, Deeds, and Ownership Types
- Real Estate Financing
- Market and Industry Analysis
Before selecting a course provider, a couple of points must be kept in mind.
First, select a FREC-approved pre-licensing course only to qualify as having completed the 63-hour educational requirements to appear for the licensing exam.
Second, decide whether to enroll in a classroom course or an online one. By far the more flexible and convenient are online courses. Simply download the instructions on your Internet-enabled device and study on the go at any time without upsetting your normal daily routine.
Step 3
After completing the 63-hour course, submit your fingerprints electronically for verification of past criminal records. Real estate agents must maintain high moral, ethical, and financial standards and a previous act of felony might bar you from getting a Florida real estate license at the discretion of FREC. The fee for the background check is $40 to $80.
Step 4
Visit the FREC portal and schedule a licensing exam, paying the fee of $36.75. This is for one attempt only and need to be paid again if you fail the exam on the first try and need to take subsequent shots at it. You must physically attend a center on exam day though the test is held online.
Step 5
On the scheduled day, appear for the licensing exam and pass it by scoring a minimum of 75% grade. It is a crucial step to getting a Florida real estate license. The exam consists of two parts, the national section which tests your knowledge in general about the real estate industry, and the state section which is related to the rules and regulations related to Florida only. The exam is in multiple-choice format with 100 questions to be answered in 3.5 hours.
Since the exam is held online, the results are declared shortly after completion of the test.
Step 6
In Florida, you cannot practice independently, you must work with a licensed broker or in a brokerage firm to start your career. Hence, after passing the licensing exam, you must find a licensed broker to sponsor and guide you and be willing to provide the necessary infrastructure to meet your clients and deal in real estate.
Step 7
Apply online on the FREC portal for a Florida realestate license. Upload proof of completing your pre-licensing coursework and the fingerprint fitness certificate.
You will now be issued an active real estate license to launch your career in Florida.