When you earn your Florida real estate broker license, you open up a whole new world of career opportunities. Below, we'll talk about the difference between real estate agents and brokers in Florida. We'll also explain the daily responsibilities of a Florida real estate broker. And last but not least, we'll highlight the benefits of earning a broker license.
The Difference Between a Florida Real Estate Agent and Broker
A real estate agent is a licensed professional who helps people rent, buy, and sell real estate. There are two main types of real estate agents. A listing agent helps homeowners sell their home. A buyer's agent helps house hunters find and buy their ideal home. Every agent works for a broker, who is the leader of their real estate brand or office, called a brokerage.
Brokers are real estate agents who have completed additional training and license requirements.
Florida real estate broker requirements
To become a licensed real estate broker in Florida, you must:
Be at least 18 years of age and have a United States Social Security number
Be an active sales associate for at least 24 months during the preceding five years under one or more brokers
Complete 72 hours of pre-license education for brokers
Pass the broker pre-licensure test
In some cases, agents or brokers who move from other states or countries are also eligible to apply for a Florida broker's license. Details can be found on the Florida real estate broker's license application.
As a real estate broker, you have the option to work independently, or you can hire other agents to work for you. Some brokers choose to represent buyers and sellers. Others choose to leave that to their agents and focus their time on running the office.
Daily Responsibilities of a Florida Real Estate Broker
There are two types of brokerages: traditional and independent. A traditional brokerage is typically a bigger brand with a recognizable name, like RE/MAX. An independent brokerage is generally a boutique office owned and operated by an individual broker. These are often hyperlocal and service a very niche market of buyers, renters, and sellers.
Broker responsibilities can change based on what type of brokerage they manage. For example, many traditional brokerages are national. These brokerages have partnerships with tech companies that provide software for use in all their offices. This could be software that allows agents to build websites, manage marketing, or manage contacts. In contrast, an independent broker may have to vet and choose which software to use for their office.
Typical daily responsibilities of a Florida real estate broker include:
Handling new hire contract negotiation and training
Managing lead distribution for agents
Ensuring all active transactions are running smoothly
Troubleshooting any transaction issues that arise
Enforcing brand guidelines (if traditional) or defining brand guidelines (if independent)
Managing relationships with industry contacts like title companies, appraisers, and software providers
Maintaining all the overhead and operational business needs
Handling in-house technical training, onboarding, and system maintenance
Managing commission splits and making sure everyone gets paid at closing
As you can see, brokers who hire other agents to work under them are responsible for the success of the whole team.
To Broker or Not to Broker?
Becoming a broker is a great career goal if you're operationally minded. It can also be great if you like to be hands-on and enjoy being able to mentor and manage others. Florida real estate brokers also have better earning potential than agents do. Brokers get a cut of every single transaction completed through your brokerage. Agents only get a cut of the transactions they manage. If you think you've got what it takes, it's definitely a career option worth exploring.
Looking for an affordable, convenient way to get your Florida real estate license? You found it. Get started today!