Looking into getting your Florida real estate license and wondering about the costs? Here is a breakdown of all the costs you have to become a Florida real estate agent.
So you’re thinking about becoming a real estate agent? Great plan! It doesn’t cost much to get your real estate license in Florida, and your earning potential is basically unlimited.
There are a few hoops to jump through in order to become a real estate agent, but they won’t cost you much compared to what you can make. In fact, you can completely cover the cost of becoming a real estate agent in Florida with the commission from your very first real estate deal.
Let’s take a look at the different real estate license costs in Florida and the requirements of getting your Florida real estate license.
The first step in your journey to getting a real estate license in Florida is to take the state-required pre-license courses.
Real estate schools vary in terms of curriculum, student support, and cost, so spend a little time comparing schools to find the best option for you. As you look at real estate schools, pay special attention to:
To apply for a license, simply submit an application to the Florida Department of Business and Professional Regulation (DBPR) along with an $83.75 application fee and proof of completing your pre-license education.
Next, you’ll need to take the state exam. The current exam fee for the sales agent license is $36.75 per attempt. It’s a difficult test, and many people need two or even three attempts to pass it. Passing on the first try will save you time and money. This is why it’s important to check out pass rates when choosing a real estate school!
Anyone who is applying for a real estate license must pay a fingerprinting fee of $50 to $80 to check for any criminal history.
Adding all these costs together, you should expect to pay somewhere around $270 to $700 total to get your real estate license in Florida, with the biggest variable in cost being which real estate school you choose.
Next, let’s take a look at some of the costs associated with being a new agent.
New agents must work under a broker, and some brokerages charge monthly fees to agents in exchange for office space, mentoring programs, and training. You’ll want to do your homework when you pick a brokerage to join.
Most agents choose to become official REALTORS® by joining the National Association of REALTORS® (NAR). You’ll also probably want to join your city’s local real estate board. These organizations offer tools and resources that can help you succeed as an agent. Dues for NAR were $150 as of 2022. Local real estate board membership dues will vary, but in Miami, for example, membership in Miami Board of REALTORS® costs from roughly $900 per year.
You will need to budget some money for your marketing needs. You’ll need to print business cards, property flyers, signs, and mailers, and create a website to advertise both you and your properties.
It can take months to close your first deal. You’ll need to find your first clients and see that deal through to close before you collect a commission check. According to the Bureau of Economic Analysis, the average cost of living in Florida is $3,635 per month per person, so consider what you’ll need to budget for as you’re starting out.
Adding all these costs together, you should expect to pay somewhere around $800 to $8,000 (plus living expenses) for your first year being a real estate agent in Florida. These are rough estimates, but it gives you an idea of what to expect.
With all these upfront fees, and the slow start to your new income, you may be wondering: Is my real estate license worth it?
As long as you’re a hard-working self-starter, the answer is a resounding YES!
A career in real estate is exciting, fulfilling, and flexible. And it’s also high-paying if you’re willing to work hard and stick with it!
AceableAgent offers payment plans at checkout to help break up the upfront cost of getting your real estate license. Through our partnerships with Affirm and Klarna, we can offer monthly payment plans that best suit your needs.
Ready to take the next step toward becoming an agent? You can learn more about how much it costs to get your license and even sign up to take a pre-licensing course today!
Learn more about getting your Florida real estate license and get exclusive offers today!