Florida has one of the richest real estate environments in the country. Until the last few years, Florida’s real estate prices and demand was heavy, driving many people to become licensed realtors or brokers. Although the market has cooled considerably, becoming a broker can still be a profitable and fulfilling career in Florida. Before you can become a broker you will need to be licensed and have experience working in the Florida real estate market.
Complete the 63-hour course to become a licensed sales associate. Before you become a real estate broker you must first be a licensed sales agent in the state of Florida. Florida schools such as Gold Coast specialize in pre-licensing courses and exams. According to Florida real estate broker, Sharon McLennon of Splendor Realty who attended Gold Coast School (see Resources) in South Florida, “There are many schools in Florida; however Gold Coast is one of the largest and most popular.” Other schools include IFREC, Cooke Real Estate School, and Florida Real Estate School Online.
McLennon says that you must achieve at least 75 percent on the exam to pass. “Approximately 50 percent of the students pass the first time, and 20 percent pass the second time,” she says.
Work as a licensed sales associate for a minimum of two years before you pursue your broker license. Get your feet wet as a licensed sales associate at a local real estate company. During your employment, ask the broker at the real estate office plenty of questions, ranging from dealing with customers to handling employees, and how to effectively run a business.
Pursue your broker license. Return to real estate school to take the 72- hour broker course, culminating with an exam. “The broker test is extremely rigorous, but once you graduate, the Florida Department of Business and Professional Regulation sends you your license and you are officially a real estate broker,” McLennon explains.
Register your business with the Florida Department of Business and Professional Regulation. “Before opening for business, register your company so that the Florida Department of Business and Professional Regulation has active information on you,” McLennon says. She adds that this association regulates the profession.
Have start-up cash or investors because, as with many new businesses, it takes time before the company is profitable.
Create a business plan and a safety net of funds. In your plan, make a determination whether you want to be a working broker or not.