good catch Mark...Thanks Kimberly

Just so you know Kimberly. It has changed from 1 year to 2 years before you can apply for a brokers license as of July 1st, 2008.
http://www.myflorida.com/dbpr/re/index.html

In Florida yes you do for at least year. After a year you can apply for the Broker license and take more classes and take another test for a broker license - at that point you can work for yourself or incorporate etc.

Since all commissions are actually paid to the broker for brand new agents they may take as much as 50%. With this in mind you want to find broker who has a great training plan for the money. Talk to the education director of the local board of realtors. See if they will tell you which companies have really good training programs for new agents. Try and talk to other agents that have been in the business only a short time and see what they say about their company. Bigger is not always better - and the franchises will take additional money off the top of each commission for "national advertising"/franchise fees. Make sure the company is providing you something for the percentage they are keeping...also watch out for office fees or desk fees. More of your money out of pocket.

This is a pipeline business and the first year will be the most difficult - from the learning curve to building your business. Frankly you will be working over 40 hours a week with no income for the first 2-6 months. The hours don't really change for full time realtors but you do start getting income. I recommend you have at least $10,000 you can put into your business for things like marketing, business cards, computer, cell phones, programs, board dues etc. and enough reserved to live off of for the first six to eight months. Also remember income taxes.
You will most likely be an independent contractor - which gets taxed as self-employed - so you get to pay the full 15. +% in social security - they call it 'self employed tax'. Now you know why real estate agents have one of the largest fail rates of any profession. With that said, welcome to the business and I wish you all the best the business has to offer.

Yes you do and I would advise you to shop for the brokerage firm that fits best your criteria of work ethics and goals. Goo luck and welcome soon!
Myriam

Hi Ronna,

If Florida the answer is yes. I've got a short explanation of who does what in the Technical Glossary in my website.

Good luck with your studies.

Mark LeMenager
Weichert, Realtors - Hallmark Properties