Real Estate License Cost in Florida
How much does it cost to get a real estate license in Florida.
To become a real estate agent in Florida, you should expect to invest about $350. That includes the mandatory pre-licensing course, your background check, the application fee, and the State examination. Candidates generally take from 10 to 20 weeks to complete the whole process of getting their real estate license in Florida. After activating your license with a broker, you will be able to launch your real estate career and start earning commissions.
However, obtaining your real estate license is just the first step of your new career in Florida. You’ll need to invest time and money to maintain your license and be competitive on the real estate market.
Still, it’s a small price to pay when you consider how lucrative a career in Florida real estate can be.
Here a break down of the costs to obtain your Florida real estate license:
Candidates are required to complete a 63-hour online or classroom pre-licensing course.
You will need to have your fingerprints taken. Florida requires a criminal background checked to approve your initial application. It is recommended getting fingerprinted at least five days before completing the initial application. That fee may vary depending on the provider you choose.
You must submit an application to the Florida DBPR. It is recommended to submit the application online to expedite the process. It takes about 10 days to get your application approval. Once approved, you will receive an email notification and a candidate ID number in order to schedule your state exam.
Scheduling Your State Exam
Once your application is approved, you will be able to schedule and take the Florida real estate examination. The state exam can be taken conveniently online or in person at a Pearson Vue test center.
1. Pre-licensing Education
2. Background Check
3. Initial Application
4. Scheduling Your State Exam
Total Real Estate License Cost
After Getting Your License
There are a few additional costs to consider as a new real estate agent. Remember, you’re essentially launching your own business and it obviously involves some fees. Most of these expenses are tax-deductible. Moreover, all of your initial expenses will pay for themselves when you close your first deal.
Here are some of the most common expenses as a active real estate agent in Florida:
Estimated Cost: $250 per Year
There are many benefits of becoming a member of your local Realtor® association. In doing so, real estate agents are included in the National Association of Realtors listing and given access to useful tools and information such as the multiple listings service (MLS).
Estimated Cost: $109
All new Florida real estate agents must complete 45 hours of post-licensing education prior to their first renewal deadline.
The license renewal date is between 18 and 24 months after receiving their initial license. The education contains practical instructions and information about real estate business planning, marketing, prospecting, and closing the transaction.
Estimated Cost: $900 per Year
There are several business expenses real estate agents should expect to pay to maintain regular operations in Florida. These may include the cost of an office space, phone, internet, computer, client meetings, and more.
Essentially, business expenses refer to anything you need to spend to be efficient and competitive as a real estate agent. These costs may vary depending on your business plan and location.
Estimated Cost: $1,000 per Year
Marketing yourself as a real estate agent is the most important aspect of a successful career. This means getting the word out about how you can help potential clients. A few costs to consider include business cards, a website and various types of advertisements (social media, flyers, boards, etc.).
Professional Liability Insurance
Estimated Cost: $1,100 per Year
Many potential clients require proof of professional liability insurance before contracting with a real estate agent. This policy, also called errors and omissions insurance (E&O), can help cover legal expenses if a real estate agent is sued for unsatisfactory performance or a work mistake.
Estimated Cost: $100 Every Two Years
Continuing education will be required for the rest of your real estate career. Florida real estate agent must complete 14 hours of continuing education every 2 years, based on their license expiration date.
How Long Does it take to become a real estate agent in Florida?
It takes generally from 10 to 20 weeks to get a real estate agent license in Florida. However, if you plan diligently, you can get the entire process done in less than 5 weeks.
How Much Do Real Estate Agents Make in Florida?
The average income of real estate agents in Florida ranges from $24,856 to $162,283. These earnings vary depending on location, experience, specialty, and average hours worked.