How to Become a Real Estate Broker in Florida

Being a real estate agent in Florida certainly has it’s benefits. But it can be somewhat of a grind to make money. Ultimately many get into the business because they want to reap the benefits of flexible hours, no income cap, and being your own boss. Well, being a broker brings you one step closer to that reality.

Becoming a real estate broker, however, means taking a few extra steps than what it takes to become a real estate agent or sales associate. With Florida becoming one of the hottest housing markets in the country understanding how to become a real estate broker in Florida couldn’t be a better time.

Here is what you need to know!

Why Level Up To Broker Status?

When you are a real estate agent you can carry out your own sales of a property. But you have to do it working for someone else. You are a part of someone else’s brokerage and team. When you are a broker you can have a team of agents working for you. Or you can just work independently without having to worry about splitting fees with the real estate brokerage.

Regardless of whether you work in residential real estate or commercial real estate the requirements remain hand-in-hand for being a sales associate or a broker. A broker in both categories will have its benefits and more freedom.

Becoming a Florida broker makes you more of a boss and can help you earn a better commission with each deal. So if that’s the case then how do we take the next step to become a broker? Follow along below.

The Steps To Become a Real Estate Broker In Florida

In order to become a real estate broker in Florida, you need to satisfy all the requirements issued by Florida Real Estate Commission. The good news is that while there are a series of steps you need to take, Florida is known to be one of the easiest states to get your broker’s license.

Here is an overview of what you need:

Be at least 18-years-old
Have a high school diploma or GED
Have practiced as an agent for 24 months
Complete 72-hours of pre-exam education
Submit your application to FREC
Pass the exam with a 75% or higher
Activate your license
Complete your post-exam education

Let’s delve into this a little deeper to understand what you need to become a Florida real estate broker.

Step 1: Mandatory Requirements

There are a few housekeeping requirements in terms of who can be a real estate broker. If you are under the age of 18-years-old then you won’t be able to start this process yet. You also must have graduated from high school with a diploma or have obtained a GED. These are both mandatory.

Step 2: Experience in the Industry

You can’t skip over being a real estate agent and head straight to being a real estate broker. First, you need to have experience as an associate for at least two years (24 months) before applying. Something that is interesting about Florida is that all other states require you to be a permanent resident to practice being an agent there. Florida doesn’t have this requirement.

Something important to note here is that your real estate license has to be both active in Florida and your 24 months of experience has to be within a five-year period. Those who haven’t practiced in over five years will need to recertify as an agent and remain active for 24 months.

Step 3: Take the Florida Brokers Course

After you meet the initial requirements you will need to take the Florida pre-license education course. This additional training is 72-hours of information on what brokers especially need to know beyond being a real estate agent.

Topics that get covered for brokers include:

Real estate law
Real estate math
Principles and practice
Closing statements
Escrow account reconciliation
Etc.

Once you take the course it will be valid for up to two years before expiring. Keep in mind that only FREC approved and accredited education programs will count. Be sure to check this as investing in the wrong school is a loss of money and time.

State Approved Real Estate Broker License Classes: Florida Real Estate School

Tip: Those who have a specific bachelor’s degree or higher from college or graduate school in real estate can ask for a special exemption from having to take this course. All you need is a certified transcript to apply for this.

Step 4: Submit the FREC Application to Become a Florida Broker

In order to be able to take the exam, you need to first submit an application to the Florida Real Estate Commission proving that you meet the requirements in age, experience, and have taken the brokers continuing education course for real estate brokers. If you are an out-of-state agent you’ll need to showcase this in order to be able to practice in Florida.

You also will have to undergo a background check as well as submit Live Fingerprint Scans that verifies your identity. This also has to be done with an approved vendor by FREC which you can find on their website.

You can choose to submit your application by mail or online.

Step 5: Take and Pass the Brokers Exam

Now that you have been approved to take the exam by FREC it is also important that you pass it. The exam itself has 100 multiple choice questions and is proctored and administered by PearsonVUE. To pass the exam an agent will need to answer 75 out of 100 questions correctly in the time limit given. The time you have to take the exam is 3.5 hours.

The best way to prepare for taking the exam is to take advantage of the handbook given by The Florida Department of Business and Professional Regulation. In this handbook, you will find all the procedures for taking the exam as well as resources such as study topics, practice materials, and study guides.

You don’t schedule the exam with FREC but instead will head straight to PearsonVUE’s website where you can schedule your exam.

Step 6: Activating Your Florida Brokers License

Once you have the good news about passing the broker’s exam you’ll need to activate it. You’ll be originally issued an inactive license and to change that you need to complete a DBPR RE 13 Broker Transaction form. You can either do this through your testing company or you can mail it into FREC.

Step 7: Continuing to Post-License Broker Education

Phew, now the hard part is over. Having said that you have to stay up-to-date with changing policies This initial license that you get is good for 18-24 months but in order to keep it you are required to take 60 hours of post-exam education. This focuses on topics not covered in the first exam such as broker management and real estate investment. The same rules apply where it needs to be a FREC-approved and accredited education system.

You will also need to stay on top of renewing your license when the expiration date approaches. Practicing with an expired license can be just as criminal as practicing without a license in the first place.

Out-Of-Staters

Florida as mentioned is one of the easier states to dip your toe into the waters. If you are an out-of-state practicing agent you may be able to bypass some of the requirements above. You can also work remotely by showing your clients homes in Florida without having to actually permanently reside there. This is for both real estate agents and brokers!

Become the Boss

Becoming a real estate broker in Florida has a lot of upsides. Some may say the cons are having more responsibility and risk. But with great risk, there is great reward. When you go through the steps of obtaining your broker’s license you no longer need to work for any other real estate agency or brokerage. You can work for yourself and be an independent agent or you can employ a team of agents to work for you.

In order to do this, it is important to know that you need experience in the field for at least two years before starting the process of becoming a broker. After that, you can go to an accredited school by FREC to learn the pre-exam information. Where responsibility kicks in is the fact that even if you pass the exam and obtain your license you also have post-exam responsibilities to education.

Becoming a Florida real estate broker is worth it and after acing the exam you can take advantage of more income, more property investment, and all the other perks of becoming a broker.