When setting career goals to advance in the real estate field, some ambitious individuals wonder how hard is it to become a real estate broker in Florida? Brokers often make more money than real estate agents, but money motivation isn’t all it takes. Most brokers feel a passion for real estate and people. They love to help people find the homes where their lives unfold like chapters of an inspiring book. As professionals, brokers also take on more responsibilities in terms of management. By following the appropriate steps, you can achieve your goal as part of a 5-year plan.
In a nutshell, the basic steps to becoming a real estate broker in Florida include a few prerequisites. For example, you need an active sales associate license with two years of real estate experience. If you worked in real estate 10 years ago, it will not likely apply since the 24 months as an active real estate agent needs to occur within a five-year period before starting the broker process. Also, aspiring real estate brokers complete a 72-hour pre-licensing course as well as submit an application, pay fees and submit fingerprints. After submitting the package, you need to achieve at least a score of 75 on the Florida Real Estate Broker licensing exam. If you want to start working as a broker, you can open you own company or you can work as a Broker Associate under another Broker. Some people have questions about the process, but don’t let a few details dampen your ambition to start online or in person real estate classes. According to the Florida Department of Business and Professional Regulation website, after passing your state exam you will need to complete 60 hours of post license education before your initial license expiration date of 18 – 24 months.
How hard is the state exam?
Few people say the state exam is a breeze or that they didn’t have to study. The state exam tests your knowledge. Some of the best advice includes memorizing the textbooks to pass the rigorous broker real estate exam and taking practice exams. According to data by the Florida Department of Business and Professional Licensing, the exam is challenging. In 2013, 53 of first-time test takers passed while 47 percent failed. With repeat test takers, 41 percent passed while 59 percent failed. IFREC offers a state exam prep course to help with your chances of passing the exam.
What are the benefits?
Becoming a real estate broker isn’t just about the money. Brokers often love working with people, managing the office and networking with other business people. As far as income for real estate brokers, a Bureau of Labor statistics article reports that in 2016, Florida was one of the states with the highest employment level in the broker occupation. More than 2,900 people found employment as a broker in Florida with an hourly mean wage of $41.28 and an annual mean wage of $85,860. As a comparison, brokers in North Carolina made only $58,510. The national average was $79,340 per year. According to the Bureau of Labor Statistics, it’s even better for brokers in the Orlando, Kissimmee, Sanford or Central Florida market where brokers earn an annual mean wage of $125,730.
If you want to become a broker in Florida, it’s not easy, but it’s a worthwhile goal that generates significant income for people who love helping people find their dream homes. Before embarking on the career journey, talk to a broker about the toughest challenges of the career. Find a good mentor as well as instructors dedicated to the profession. Owning a home is still the American dream, which is why real estate agents and brokers have such valuable careers. At IFREC Real Estate Schools, we give our students the option to take online classes or live classes depending on their personal situations and schedule. We work with aspiring real estate brokers who understand their important roles in the real estate profession. For more details about becoming a real estate broker, please contact us.