Real estate attracts many hard-working and passionate professionals to the industry–and for good reason. A low barrier to entry, unlimited earning potential, and the ability to set your own schedule are just a few perks of working in real estate. Moreover, Florida’s real estate market is one of the top markets in the country, making it a perfect location for those looking to establish their real estate careers.
If you’re in the Tampa area, you may wonder if it is worth becoming a real estate agent in Tampa and, if so, how to get your Florida real estate license. This article answers those two questions and outlines how to build a thriving career in the Tampa real estate market.
Tampa’s Real Estate Market
Knowing your market is a big part of being a successful real estate agent. So, here’s a quick look at the current state of Tampa’s real estate market and whether it is worth starting your real estate career in Tampa.
Challenges and Opportunities in Tampa’s Real Estate Market
Tampa’s real estate market is a bit of a mixed bag as we enter the second half of 2024. The median sale price of Tampa homes is $460,000, up 7.7% from the previous year, indicative of a healthy market. However, Tampa’s home inventory has decreased in recent months, with only 3,994 homes for sale in June 2024 (down 1.9% compared to the previous month).
While low housing inventory is an issue across the United States, some cities have seen more inventory come on the market due to new construction. As of July 2024, Tampa holds the seventh spot for top cities for new-home construction, which bodes well for Tampa’s housing market. So, while there may not be many homes on the market right now, data suggests there will be more soon.
Is It Worth Becoming a Real Estate Agent in Tampa?
Many people get into real estate for the unlimited income potential. However, the median income for real estate agents can vary from city to city and state to state. So, what can you expect to earn as a Tampa real estate agent?
According to Glassdoor.com, the median total pay per year for Tampa real estate agents is $223,000, slightly less than the median pay for all U.S. real estate agents ($231,000). As with most careers, the more experience you have, the greater your income potential. Conversely, those new to the industry typically don’t earn as much as seasoned veterans. As such, the median income for Tampa real estate agents with less than a year of experience is $109,000, which is still a sizable income, especially considering that the cost of getting your Florida real estate license is approximately $400-700.
Although Tampa’s housing inventory is less than ideal at the moment, signs show that it is improving, which makes now a great time to get your Florida real estate license before everyone tries to jump on a hot market. That way, once the inventory increases, you can take advantage of the new opportunities.
Requirements to Become a Real Estate Agent in Tampa
There are only three prerequisites to getting your Florida real estate license. You must:
- Be 18 years or older.
- Have a social security number.
- Hold a high school diploma or equivalent education (such as a GED).
Once you meet those three requirements, you can take the necessary steps to get your Florida real estate license.
Step 1: Complete the required pre-licensing education.
First, you must complete the 63-hour Florida real estate sales associate course, which covers the ins and outs of practicing real estate in Florida. Gold Coast Schools offers this pre-licensing course in English and Spanish in three formats (in-person classroom, livestream, and online).
Step 2: Submit your fingerprints.
Next, you must submit your fingerprints to a registered provider for a background check. To streamline the application process, consider completing the fingerprinting process before submitting your licensing application.
Step 3: Submit your licensing application.
Thirdly, you must submit your real estate license application and any mandatory fees to the Florida Department of Business and Professional Regulation.
Step 4. Take and pass the Florida real estate exam.
Finally, you need to take and pass the Florida Real Estate Sales Associate exam. While your pre-licensing course will prepare you for the exam, some students elect to take a test prep class such as Gold Coast Schools’ instructor-led Exam Cram course, which is included in all Gold Coast Schools’ pre-licensing packages.
Once you’ve completed these four steps, you’ll be on your way to launching your successful new career in Tampa real estate.
Building Your Real Estate Career in Tampa
Setting yourself up for a successful first year as a Tampa real estate agent comes down to two essential factors: selecting the right brokerage and continuing your real estate education.
Selecting the Right Tampa Brokerage
Selecting the right brokerage for your unique goals and working style can significantly impact your career trajectory. When choosing a brokerage, you’ll want to consider various factors, such as commission split, training for new agents, and brokerage work culture. Luckily, Gold Coast Schools provides students access to monthly career fairs to get to know local brokerages. It is the perfect opportunity to discover which brokerage fits you best.
Continuing Your Real Estate Education
One of the commonalities that top real estate agents share is that they invest in their professional development. Keeping up with your continuing education requirements, taking on advanced training opportunities, or attending industry conferences are all valuable ways to keep your real estate skills and knowledge up-to-date to best serve your clients. Whether you just got your license or have been working in real estate for 20 years, an agent’s education is never finished.
Interested in a career in Tampa real estate? Gold Coast School’s Tampa Real Estate course outlines the ins and outs of Tampa’s real estate market and the steps you need to take to become a top Tampa real estate agent. Get started today!
Source:
Marek, Emily. “Six of the Top 20 Cities for New-Home Construction Are in Florida.” South Florida Agent Magazine, October 6, 2023. https://southfloridaagentmagazine.com/2023/10/06/movebuddha-new-home-construction-florida/.