How to get your Miami real estate license

All eyes are on Miami, as it’s become one of the leading real estate markets in the country. The Miami real estate market offers luxurious properties, high commission, and an interesting Miami lifestyle. Many people are looking to get into the industry because of the record shattering year the market has had. Miami-Dade County’s total home sales surged 142.4% year-over-year, from 4,766 homes sold to 11,553.

The median home prices have also gone up during the pandemic as more people are retiring or working remotely. In recent months, the median listing home price in Miami-Dade County, FL was $449K, trending up 12.5% year-over-year. The median listing home price per square foot was $331.

Despite the money that can be made here, Miami is not seen as a very competitive market. Homes sell after around 52 days on the market, which is significantly higher than most homes in states like California and Texas. Additionally, most homes in Miami receive 3 offers. This is also fewer offers than competitive markets where there are frequent bidding wars.

Still, there is a lot of real estate to gobble up here in Miami, and it’s a very lucrative career in the Sunshine State. If you’re looking to break into the industry, there are a few steps to follow if you want to be successful. Here’s our breakdown of the best schools, brokerages, and associations to join.

Requirements

• Applicants must be at least 18 years old.
• Applicants must be a citizen of the United States and have a social security number.
• A high school diploma or its equivalent is needed to apply for a real estate license.

Steps to getting your real estate license

• Finish the required hours of education: Aspiring real estate agents must complete 63 hours of Florida pre-license coursework before applying for the licensing exam. Students can sign up through any accredited school or course provider, and will be tested after taking the course. They must score a 70% or higher in order to continue on with next steps. Florida is one of the cheaper states to get this education, and most students can find a course that suits their needs for under $100.
• Submit fingerprints: Upon completion of the required education, your fingerprints are to be submitted to the Department of Business and Professional Regulation 5 days before submitting your licensing application. This process typically costs around $50.
• License application: Apply for the licensing exam online or by mail paying the required fee of $83.75.
• Examination: Approved applicants are then required to take the exam and have a passing score of 75 or more. After passing, you will be given your license which will be valid for 18 to 24 months upon initial activation.
• Sponsor: The sponsorship of a broker will be needed to activate your license. Many brokerages are happy to take in new agents, but be sure to ask the important questions to make sure this broker is the right fit. Things to consider:
  • What are the commission splits?
  • Is there a mentorship program or training for new agents?
  • What is the reputation of the brokerage in your area?
  • What are the additional required fees?

Top Real Estate Schools in Miami

Completing the required hours of education is one of the first steps in getting your real estate licensing and this can be achieved by attending a well-known, accredited, and approved real estate school. Several real estate schools offer courses on the Florida real estate licensing exam online or in-person and Miami is home to a number of them. Here are some top real estate schools providing real estate education to Florida aspirants.

Gold Coast School of Real Estate

Address: 3577 NE 163rd St, North Miami Beach, FL 33160

Gold Coast School of Real Estate is one of the leading real estate institutions in Florida. Established in 1970, they have spent a long time studying and teaching the real estate business and can boast of over a million students. They offer both online and in-person training for Florida education courses approved by Florida Real Estate Commission. Their courses are taught in both English and Spanish.

Gold Coast has 3 pre-licensing packages for Florida license aspirants. The Basic Service Package contains a 63-hour online self-study course and state exam prep (this includes 2 state sample exams) which is all that is needed to pass the licensing examination. However, the full service Package offers the basic package, a hard copy textbook, live-stream classes, and a 2.5 day online “Exam Cram” weekend review. The live-stream and live courses package offers the full service package and an online or in-person instructor. A seven-day class, four-week evening class, four-week morning class, or three-week weekend class is available either online or in-person at their campus. A trial version is provided for the packages to ease aspirants’ decisions.

 

The CE Shop

The CE Shop is an online real estate school that has been providing educational aid to Florida real estate aspirants since 2005. They offer courses accredited by the Association of Real Estate License Law Officials (ARELLO) and have received many awards and recognition for their contribution to the real estate world.

The CE Shop provides quality and affordable online study packages that meet the Florida real estate requirements and can be completed in two weeks. They currently offer 4 pre-licensing packages to Florida aspirants. The Courses only package is the basic package that offers the state-required hours of pre-licensing study. The Standard package provides an exam prep as well as the required hours of study to get students better prepared for the licensing exam. The Value package offers students the standard package and 3 building business courses to give students a better understanding and insight into real estate. The Premium package gets you a 45 hours Florida Sales post-licensing package in addition to the value package. They offer a pass guarantee for their study packages except for the basic package (Courses Only). The CE shop boasts of an 88% Florida pass rate and 96% student satisfaction rate.

 

AceableAgent

AceableAgent is one of the reputable and leading online real estate schools in Miami that provides educational aid on both websites and mobile apps. Their courses are taught interactively to make it easier for students to understand and recollect. They offer courses accredited by ARELLO and The International Distance Education Certification Center (IDECC) and Florida Real Estate Commission approved. They offer pre-licensing courses but don’t offer post-licensing or continuing education classes.

AceableAgent Florida pre-licensing package offers three course bundles. The Basic Course is the least bundle that provides a self-paced 63 hour pre-licensing class, an instructor that can be reached via email, “lite” exam prep, and practice questions. The Deluxe course offers the basic course package, 75 videos and 70 audio lessons and a deluxe exam prep to get students better prepared for the examination. The Premium course provides students the deluxe course package, an hour of private tutoring to be scheduled personally, five times a week access to live webinars, access to webinar archive, and an online question and answer. AceableAgent has an average student pass rate of 78% which is above the average pass rate in Florida.

Top Real Estate Brokerages in Miami

A newly licensed real estate agent needs the sponsorship of a broker before commencing their real estate journey. A broker who is more experienced and educated serves as a mentor and support for a newly licensed agent. Brokerage companies offer different commission split, training, and tools to agents, thereby making it difficult for agents to decide on one. Here are a few top brokerage companies in Miami.

Florida Realty of Miami

Address: 9415 Sunset Dr #236, Miami, FL 33173.

Florida Realty of Miami is one of the topmost and largest real estate agencies in Miami. They prove to be one of the best real estate agencies in Miami by consistently ranking in the top 10 Real Estate Agencies in Florida and one of the top 75 Real Estate Agencies in the country annually by NAR. They have over 1,500 properly trained Realtors and are known for their ability to satisfy both their clients and their large number of realtors.

Florida Realty of Miami provides proven support and training to their agents at every level and gives all agents access to their listings to help find leads. They offer their agents 100 % commission and are one of the first agencies in Florida to offer this. They charge a transaction fee of $299 for sales less than $1 million and 5% of the commission for a purchase price of $1 million and over. No fixed cap, desk fee, or franchise fee is to be paid by agents.

 

The Keyes Company

Address: 2121 SW 3^rd Avenue, suite 300 B Miami, FL 33129.

The Keyes Company is a long-standing family-owned and operated company established in 1926. They are one of the top and most experienced real estate agencies in Miami and is home to over 3,000 Realtor across Florida. There is an in-house mortgage, title, insurance, and property management specialist available to handle issues that may arise during transactions.

The Keyes Company provides its agents with the right tools, right training, and right network to build a strong real estate career. Support and mentorship are provided for new and developing real estate agents. At Keyes they don’t have a fixed commission split, this is negotiated on an agent to agent basics and depends on the level of production brought by the agent. Commission split ranges from 60% for agents to nearly 90%.

 

eXp Realty

Address: 335 S Biscayne Blvd, Miami, FL 33131

eXp Realty is a remote real estate company established in 2006. They make use of a cloud-based network to connect and develop their company and culture. They offer online trading and networking, and a library of materials on their virtual center. Their mode of operation accommodates both full-time and part-time real estate agents.

eXp has a fixed yearly fixed cap of about $16,000 that must be met by every agent. The pre-cap commission ratio is 80% to the agent and 20% to the company. Upon hitting the yearly cap, agents get to receive 100% of their commissions on sales. They charge no desk fee, no franchise fee, and no loyalty fee at eXp Realty. eXp also pays a percentage of the commission of sales made by an agent you recruit.

 

Becoming a Realtor

Having a real estate license doesn’t make you a Realtor. A real estate agent becomes a Realtor when he/she joins an Association of Realtors. Becoming a Realtor is a career-building step that gives access to benefits the association provides and most clients are impressed by.

Miami Association of Realtors

Address: 700 S Royal Poinciana Blvd #400, Miami Springs, FL 33166

The Miami Association of Realtors is the largest local Realtor association in the country and represents over 50,000 real estate professionals having started up with 162. The organization was charte6in 1920 and has spent over 100 years serving Realtor in Miami. They are affiliated with the National Association of Realtor (NAR) and the Florida Realtor Association and are official partners of over 200 international organizations. MAR houses top realtors pledged to a strict code of ethics and standard of practice.

 

Dade Real Estate Investors Association

Address: 325 NE 2nd Ave STE 205, Miami, FL 33138

DREIA’s commitment to its members is clearly defined in the single purpose of the Association: to assist its members in succeeding in their real estate investment plans by providing continuing education, motivation and opportunity in a positive and mutually supportive environment. DREIA’s direction is further expressed through the basic principles the Association follows of professional practices for real estate investors:

1. People come first.
2. Real Estate investing is a step-by-step process.
3. High standards of ethics and professionalism must be reflected in investor transactions.
4. Education’s purpose is action.
5. Investors must maintain a positive approach in solving people’s problems through real estate investing.

 

Broward, Palm Beaches & St. Lucie Realtors

Address: 330 N Federal Hwy #201 Hollywood, FL 33020

South Florida’s premier Realtor Association is equipping Realtors to sell South Florida and the Treasure Coast. They are the 3rd Largest Local Realtor Association in the Nation and service 130 miles of coastline. The association is known for sending out up to date market reports and predictions to better help educate agents in the area. They also do regular surveys where they ask sellers and buyers their thoughts on home prices, and current stats along the coast hoping to get a better understanding of how to communicate with potential clients.

[totalpoll id=”20020″ screen=”results”]