A real estate license in Florida opens the door to multiple career paths! The most popular option for real estate licensees is real estate sales.
Thousands of Floridians get their real estate licenses every year specifically to become real estate agents. And for good reason! Real estate agents can work flexible schedules, be their own bosses, and enjoy unlimited income potential.
But real estate sales isn’t your only option. Your Florida real estate license can help prepare you for several other exciting career paths as well.
When do you need a real estate license?
Under Florida Statute 475.01(1)(a), you must be licensed to perform any of the following real estate activities for compensation:
- Marketing, advertising, auctioning, or listing another person’s property for sale
- Representing a seller in any other way in the sale of a property
- Representing a buyer in the purchase of a property
- Renting or leasing a property, on behalf of the lessor or lessee, on a commission basis (although unlicensed leasing agents are allowed on a wage or salary basis).
So which career paths fall under this requirement? Let’s look at your career options.
Career options available to those with a real estate license
Once you have a real estate license, you can pursue any of these career paths:
1. Real Estate Agent or Realtor®
The classic real estate license career, being a real estate agent in Florida requires a real estate license. You can also kick your career up a notch by joining the National Association of Realtors (NAR) to officially earn the title of Realtor. This requires paying annual dues and committing to the Realtor Code of Ethics.
2. Commercial Real Estate Agent
The average real estate agent sticks with residential sales. Working more complex transactions for commercial and industrial properties provides additional opportunities for growth and professional challenges. You’ll also be able to make more money closing fewer deals since commercial property values are typically higher than residential values. Of course each of these deals also requires more hours than the average residential transaction.
3. Managing Broker
Managing brokers can legally perform all the same actions as a licensed real estate agent, but they also have the power to hire other real estate professionals and even run their own real estate firms. To become a managing broker, you’ll need to earn your Florida broker license, but you need to earn your real estate license first since Florida requires managing brokers to have at least two years’ experience as a licensed real estate agent before pursuing a broker license.
4. Property Manager
Property managers make sure rental properties run smoothly on behalf of the property owner. This could mean managing an apartment complex, an office building, a bunch of single-family homes, or any other real estate portfolio.
Interestingly, you don’t have to have a real estate license if you’re working on behalf of a licensed property management company as a salaried or hourly worker. But it can often be more lucrative to work independently on a commission basis, which does require a real estate license. It’s nice to leave yourself the option.
5. Real estate investor
As the name implies, real estate investors invest in real estate. This could mean buying a property and renting it out or buying a property and flipping it for a profit. While you don’t technically need a real estate license in Florida to buy and sell your own properties as an investor, having a real estate license gives you more flexibility as an investor. You’ll be able to market your properties on the MLS (Multiple Listing Service) and can even earn a commission on your transactions.
A real estate license in Florida prepares you for all these career paths. And with so many options to choose from, you can be sure the investment in getting your real estate license is a smart one.