Is Online Real Estate School Appropriate For You?
If you want to make a career in Florida’s real estate sector, you’ll need to take several hours of pre-licensing education and pass the state’s real estate licensing exam. Only then you can start to work as a real estate professional in the state.
The qualifying real estate courses are imperative for you to start your real estate career. The courses will be the commitment of time and money. It will pay you off in the form of attainment of advanced knowledge of the real estate industry and pass the license exam, which can be the foundation for a successful career in the industry.
Options to take the real estate course
Since the real estate courses are necessary for passing the license exam and getting the Florida real estate license, your education should meet your lifestyle and personal requirements. You have two options when it comes to completing the required courses: online method or classroom-based (traditional) education courses. Read on to decide if the online education or the conventional method is appropriate for you.
How much does it cost to go to real estate school in Florida?
Online real estate schools offer less expensive tuition prices than classroom-based schools. Moreover, the associated costs of online courses are always lower. For example, you will not be incurring commuting costs, and the digital course material costs way lower than printed and physical material.
Cost of online real estate associate course
It can cost you $129 - $279 to complete the online real estate associate license course in Florida. The fees differ from one educational facility to another, depending on the features. On the other hand, a classroom-based, Florida real estate school course for a real estate sales associate can cost you $250 - $499.
Cost of online real estate broker course
The online course can cost you $229 – $450, whereas the classroom course can cost $300-$599.
Whether you want to take the real estate sales associate course or the broker's course, these costs indicate that online course is more cost-effective and appropriate. Taking the online courses will help you pass the license test without incurring huge expenses and kick off your career quickly.
How long does real estate school take in Florida?
If you are not able to commute for a classroom-based course for the real estate exam prep for any reason, you can leave your fears behind when you choose to take the online courses.
Duration of the real estate association course
The Florida real estate sales associate course comprises 63 credit hours of pre-licensing education to qualify you for the license exam. The course duration is sufficient for solid exam prep, pass the license test, and begin your career.
Duration of the real estate broker course
The real estate broker course comprises 72 credit hours of education. It is compulsory to complete the 72 hours course to get a license and start your career. If you are a real estate agent with at least two years of active experience in the industry and want to be a broker, you may choose the broker's course and then pass the state exam to get a broker's license.
Given the specific credit hours, you can complete your online course in as little as 10-15 days. Of course, you enjoy the flexibility to complete the course at a faster or slower rate. You can work, spend time with your family, and study at your convenience because the course materials are always accessible online.
How do I start a real estate course in Florida?
The first step to start online real estate education courses in Florida is to do your research. You will come across many institutes that offer online courses and claim to help you with getting a license. However, not all real estate education facilities are made equal. Gather enough information about the facilities, visit their websites, and check the course content before making a decision.
Choose an institute that specializes in real estate education
Make sure to select an online education provider that offers specialized education in real estate and prepares the students for the license test. Also, check the institute's alumni network and whether it is offering post license education opportunities. A facility that works to prepare for the state exam will increase your chance of getting the Florida real estate license. Continuing education allows you to stay on top of your knowledge and help you with career development.
Questions to ask yourself when deciding to take online real estate course
Is the school legitimate?
Is it accredited by the Florida Real Estate Commission?
How long has it been operating?
Is the course price reasonable?
Can you call the administration and ask for more information?
Does the institute offer a 63-hours course for sales associates and cover topics covered on the pre-licensing exam?
Does the administration assist with the process of getting a license?
Are continued education and refresher courses available for career growth?
Once you make a choice, you can enroll online, pay the fees, get access to the online course material, and start the course immediately.
How much money do real estate agents make in Florida?
Real estate professionals make an average of $89,623 per year in Florida, which is six percent higher than the national average.
Commission split
Even though some real estate business establishments are shifting to the salary-based system, most brokers still prefer the commission-based structure. When you become a licensed real estate professional, your salary will be calculated according to a commission split formula.
You can generally negotiate your commission split with your brokerage or manager at the time of signing on with them. Most firms have a standard commission formula for new sales associates. As you gain experience, the firm will increase your commission split, or you can negotiate a new commission split. In a commission-based structure, your salary will depend on how many sales you make.
How to calculate your commission
Florida real estate commission can be calculated in the following manner:
Suppose you sell a property for $400,000 at a 6 percent commission rate. The commission will add up to $24,000.
The $24,000 commission will be divided between the buyer and seller’s brokers according to a pre-agreed percentage (example 55 percent to 45 percent ration).
That means $13,200 will go to the seller’s broker (the business for which you work), whereas the remaining $10,800 will go to the buyer’s broker.
The $13,200 is then split between you and your managing broker according to the agreed-upon formula.
If the pre-agreed commission split formula was 50% - 50%, you will get a commission of $6,600 for selling a property for $400,000.
Online real estate course is an ideal choice for most people who want to get the Florida real estate license and work in the real estate business sector. However, you must choose the educational facility carefully. The guidelines above can help you make a judicious decision to achieve your career goals.