First, to get your real estate license, you will need to complete a 63-hour pre-licensing course. Many online educational sites offer this and it can be done from the comfort of your own home. If you’re more of a classroom person, your local community college might offer the course. When taken in the real classroom, the course can take 4-6 weeks due to scheduling. Online courses that you can take at your own pace. So if you want you can do the whole course in one week.
Below are some requirements for the state of Florida to obtain your real estate license
You must be 18 years old, have a high school diploma or GED to get your real estate license.
Take the 63-hour pre-licensing course and pass.
Exam and Application Requirements:
· Submit a completed real estate license application, submit your fingerprints and pay the associated fees.
· Pass the Florida Real Estate Sales Associate state exam with at least a score of 75 out of 100 points or pass the Florida Real Estate Law exam with a score of 30 out of 40 points.
· Activate your license with a real estate broker using the appropriate DBPR forms or it can be activated online by your broker.
These are the basic steps needed to get your real estate license in Florida. Getting your real estate license sounds easy, and to some extent it is. However, the review and the amount of study should not be taken lightly. I would recommend doing a little more research online before deciding on a real estate license. If you want to make a career change, this is definitely a great choice.
So how do you really get into real estate and what does it offer?
First, of course, once you get your license, activate it with a broker. This is where you have to decide which path you want in real estate. Different companies offer different options, divisions, rates, training, etc. Take for example:
Property Management – It is best to research local property management companies. There are also national property management companies that you can join. Once you join them, throughout your journey in this field, you will gain knowledge and experience in all legal aspects of property management. There are many, from how to evict a tenant to how to get notices to your door and when. Property management is hard work and at the same time rewarding. Many agents gravitate towards this field because of the steady stream of monthly income. Others don’t want to deal with tenant headaches. For example, if you manage 150 units and an average call rate of 10%, that would represent 15 different issues to resolve during that month. These can be anything from non-functional air conditioning units to plumbing issues; tenants locked out of their homes and needing access, tenants disturbing other neighbours. First, the positive side which means that 135 units will not cause any problems. On average, management companies charge landlords about 10% of monthly rent (every company and state is different), in return, as an agent, you can get a percentage of that amount. Since all companies offer different payments, let’s average the company’s monthly revenue. Let’s say 150 units rented for $1,000 each month would be 10% of $1,000, or $100 X 150 units “equals” monthly income of $15,000. Now you see the steady income I mentioned earlier.
Luxury real estate: This is also a very good niche once you have obtained your license. There are pros and cons like in property management. When we talk about luxury real estate, we are talking about 1M+ homes. The obvious advantage of this is the amount of money you earn on each trade. Example, a sale of 1 million at 3% commission earns you 30,000 revenue, now subtract your splits with your broker, say an 80/20 split, the agent would earn $24,000 commission, do this 4 times a year and you’ll get 96,000 Not bad for a 65-hour pre-licensing course. Let’s point out the drawbacks. It’s not as easy as it looks or as seen on TV. This market is more of a referral-based market. You can certainly do that without a referral, but at some point you have to have those buyers or sellers in your sphere.