Starting a new career can be daunting, especially if you don’t have any prior industry experience. But you don’t have to go it alone. Whether you are in the process of getting your real estate license, have just received it, or are considering getting licensed, this article has what you need to start building a successful career in the Orlando real estate market.
Key Takeaways
- Orlando’s market has rebounded strongly post-pandemic, with increasing home inventory and declining mortgage rates driving up median home prices.
- Real estate agents in Orlando have significant earning potential.
- Obtaining a Florida real estate license is relatively straightforward. You must complete a 63-hour pre-licensing course, submit fingerprints for a background check, submit a license application, and pass the Florida real estate exam.
- New agents should expect challenges such as building a client base and navigating industry intricacies. Overcoming these challenges requires choosing the right brokerage, continuous learning, and setting realistic expectations while celebrating small victories along the way.
Understanding the Orlando Real Estate Market
The first step to getting started as a real estate agent is understanding the market you will be working in and what that means for your career. After a slow few years after the pandemic, Orlando’s real estate market has been on the upswing as more inventory comes onto the market and mortgage rates continue to decline. Additionally, the median home sale price has steadily risen, reaching $407,440 in May 2024 (up 8.2% from the previous year), indicating that Orlando’s real estate market is flourishing.
How much could you expect to make in Orlando real estate?
These higher home sales prices mean higher commissions for real estate agents. In fact, according to Glassdoor.com, the median annual pay for Orlando real estate agents is $204,000, making Orlando an excellent choice for those looking to become high-earning agents.
Like most careers, the more experience you have, the greater your income potential. For instance, the median income for Orlando real estate agents with less than a year of experience) is $107,000. However, with just 1-3 years of experience, the median annual income for Orlando agents jumps to $121,000. Thus, those who stick with real estate tend to reap the rewards.
Is getting your Florida real estate license worth it?
One of the benefits of becoming a real estate agent is the low barrier to entry. Unlike other high-paying jobs, which often require multiple degrees, you simply need a real estate license to practice real estate. The cost of getting your real estate license in Florida is approximately $400-700, depending on your school and class format. Moreover, you can get your license in as little as one month. Compared to getting a four-year degree, which costs tens of thousands of dollars, getting your Florida real estate license is a piece of cake.
Getting Licensed
Getting your Florida real estate license is relatively straightforward. Simply follow these four steps.
1. Complete the required pre-licensing education.
The first step to getting your Florida real estate license is to complete the 63-hour Florida real estate sales associate course, which covers a wide range of topics that will teach you how to successfully (and legally) practice real estate in Florida. Gold Coast Schools offers the 63-hour sales associate course in English and Spanish in three formats (in-person classroom, livestream, and online).
2. Submit your fingerprints.
Once you’ve completed the pre-licensing course, you must submit your fingerprints to a registered provider for a background check. It’s suggested that you complete the fingerprinting process at least a few days before you submit your licensing application.
3. Submit your licensing application.
Next, you must submit your real estate license application to the Florida Department of Business and Professional Regulation, including any mandatory fees.
4. Take and pass the Florida real estate exam.
Finally, you must register for, take, and pass the Florida real estate sales associate exam. Gold Coast Schools’ dedicated instructors will give you the confidence and knowledge needed to pass. Plus, an instructor-led Exam Cram course comes with all Gold Coast Schools’ pre-licensing packages, so you can rest assured you will be well-prepared come test day.
Once you’ve completed these four steps, you’ll be on your way to launching your successful new career in Orlando real estate.
Navigating the First Year
Getting your real estate license is impressive–but you’re not done yet. Establishing yourself as a newly licensed agent can take some time and hard work, but if you surround yourself with the proper support and adopt the right mindset, you can go far in real estate. Here are some tips to help get you on the right path.
Choose the right Orlando brokerage
In Florida, real estate agents must work under the supervision of a broker, who is licensed to oversee other agents’ work. Selecting the right brokerage can be daunting since many factors must be considered. The level of training support, brokerage culture, commission split, and additional benefits are just some aspects of a brokerage that can significantly impact your success as a new licensee. Fortunately, Gold Coast Schools offers monthly career fairs that introduce students to brokers so that students can get a sense of which brokerage would best fit their professional goals.
Build a strong knowledge base
Building a solid knowledge base is the key to going far in any career, especially in real estate. One way to do this is to keep up with your continuing education, which enables you to keep your license active and teaches you valuable information regarding new real estate laws and ethical standards. There are also many advanced training opportunities that teach you how to get started in highly covetable niches, such as selling luxury homes.
Additionally, keeping abreast of changes in your local market and industry trends is critical to staying ahead of your competition. Subscribing to industry publications, networking with other agents and real estate influencers, and attending industry conferences and webinars are just some ways to help you become your clients’ go-to source for their real estate questions and needs.
Setting realistic expectations
Finally, one of the most essential parts of starting as an agent in Orlando is setting realistic expectations, especially during the first year. But if you keep your eye on the prize, success will be within your reach.
Overcoming common challenges
Unless you have prior real estate experience, one of the biggest challenges newly licensed agents face is simply not knowing the ins and outs of real estate. Luckily, that’s where your broker can step in and guide you through any questions or problems. Don’t be afraid to ask questions–that’s how you learn!
Another common challenge new licensees face is needing an extensive network to generate leads. Chances are, as much as they’d love to be your first client, your friends and family may not be looking to buy or sell real estate any time soon. However, there are many strategies to generate real estate leads that don’t require you to pay an arm and a leg. For instance, building your social media presence and website are just two marketing channels that can be highly effective (and inexpensive) lead-generation tools. Plus, your real estate broker will likely have additional tools and tips to help you start generating leads and build your brand.
Celebrating milestones and small wins
As you navigate your first year in real estate, it’s important to celebrate small wins and milestones. These can include getting your first client, closing on your first property, receiving your first commission check, or hosting your first open house or networking event.
While it’s great to set big goals for yourself as you embark on your real estate journey, it’s important not to get discouraged if things don’t go 100% to plan. The first year in real estate is often the most difficult, so if you can get through your first year, chances are you’ll get where you want to be. And remember, even the most successful real estate agents started where you are. If they can do it, you can too!
Want to learn more about getting started in Orlando real estate? Gold Coast School’s Orlando Real Estate course outlines the ins and outs of Orlando’s real estate market and the steps you need to take to become a top Orlando real estate agent. Sign up today!