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Old 12-06-2012, 10:10 AM
 
1 posts, read 6,279 times
Reputation: 11

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Is it worth getting a Real Estate License in the Sarasota county now? I don't know if I should look at it or if its not worth looking into. Are brokers hiring in the area? I am in a unique situation in that I am semi retired. I don't have to make a lot of money and am more interested in keeping a bit busy.

I had a License years ago and worked for about 6 months just as the collapse started and the office closed down. I have been around the building trades for most of my life and have owned a business that worked with the public for 25 years. I may be all wet but I thought that some office would be interested in a part time help that can take up slack and vacation times.
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Old 12-06-2012, 10:55 AM
 
Location: Port Charlotte, FL
3,979 posts, read 10,544,071 times
Reputation: 1940
Many real estates agencies are hiring new agents. Call a few in Sarasota and they will be happy to speak with you. If you have specific companies you might wish to work for, find a local agency online. Go to their web page and click the Career link. A lot of them provide information there, but most will not mention commission split until you meet with them.

Also, some local agencies post ads on Craigslist. Go to the Sarasota Craigslist. Click on Jobs and Real Estate. You will see some there now advertising for agents.

I took my real estate licensing courses at Ed Klopfer School of Real Estate in Sarasota. You can take the courses online too. But you have to physically go in person to take the state exam, that is not provided online.
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Old 12-06-2012, 11:25 AM
 
Location: Sarasota/ Bradenton - University Pkwy area
4,612 posts, read 7,529,570 times
Reputation: 6026
Hi,

I can give you my perspective of the current real estate market and from having 14 years of selling real estate in the Sarasota area.

Our local market has gone through dramatic changes in the past 10 years due to real estate boom and bust. Most experts as well as agents would agree we are in recovery. As the market has changed, so has the business for both Realtors and real estate companies.

Many agents could not survive the 3 or 4 years where sales dropped substantially. Some left the business for good, others had to find other employment to supplement their real estate income. Some real estate firms went out of business, others merged in order to survive. Many brokers have now changed their business models, putting more of the focus on agent production. More of the office expenses that brokers used to cover are now agent expenses. Many brokers no longer provide a desk, phone and office supplies to agents, you are expected to work via a "virtual" office. Some still offer their agents floor time but many have done away with that, expecting agents to go out there and find their own buyer and seller leads.

We are independent contractors, not employees of the brokers. So we are required to cover the entire costs of the social security and medicare taxes out of our commission checks. Most brokers will also require you to do some sort of split of your commission checks with them, plus they deduct for franchise fees and E&O insurance for each transaction. The difference between gross and net on the commission checks can be shocking for new agents.

Between the annual dues to SAR, FAR & NAR, the supra key/lockbox fees and MLS fees, which are all mandatory, an agent will be paying about $1200 per year just for those key items. That's not counting any other costs such as cell phones, web sites, supplies (ink cartridges can add up quickly), etc. Then there's mandatory education courses every 2 and 4 years, licensing every 2 years. It adds up quickly.

Doing real estate part time, at least in our area, doesn't make financial sense for most agents these days for the reasons I've given you above. There are a number of other options for part-time work in our area and employers that love hiring retired and semi-retired people to fill those p-t positions that may work better for you. If you do decide to go into real estate, at least you will have a better idea as to what to expect.

Good luck with your future plans.

SR
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Old 12-06-2012, 01:34 PM
 
Location: Englewood, FL
1,464 posts, read 1,841,077 times
Reputation: 985
Would it make more sense to get a broker's license and work for yourself so you don't have to split the commission?
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Old 12-06-2012, 02:50 PM
 
Location: Lemon Bay, Englewood, FL
3,179 posts, read 5,998,184 times
Reputation: 1170
I don't know how RE agents do it. Honestly. Having to deal with ridiculous, unrealistic buyers that expect a $1mil house with all the fancy trimmings for $100k; oh, and on sailboat water! Driving all over the place, on their own dime (sure they can claim all expenses on their taxes, but what's that, 15-20% break). Then splitting the commission with a broker, paying taxes, all the national, state, and local accreditations that want a piece of the proverbial pie, office expenses... on and on. No thanks. More power to those that can do it, and do it well :-)
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Old 12-06-2012, 05:05 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,096,073 times
Reputation: 27078
Also, isn't the initial cost of getting your real estate license somewhere around $3000?
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Old 12-10-2012, 07:51 AM
 
Location: Sarasota
4 posts, read 9,095 times
Reputation: 10
Quote:
Also, isn't the initial cost of getting your real estate license somewhere around $3000?
No. You pay for the classes (on average around $400) and apply for a license with the state (I think $105). Once licesnsed, it can get expensive as you have to pay your annual dues to SAR, FAR, and NAR PLUS the other items that Sunshine Rules mentioned.

Quote:
Would it make more sense to get a broker's license and work for yourself so you don't have to split the commission?
You can't just get a broker license. You have to work under a broker for at least two years, taking the broker course, pass the broker exam, etc. Additionally, as a broker, you still incur costs that agents pay and if you have agents working for you, you still have to pay them commission from sales that they make-- so you still split to some degree. Also, there is a significant amount of responsibility and liability that come with being a broker. Some people like it, some people don't.
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Old 12-11-2012, 10:20 AM
 
Location: Port Charlotte, FL
3,979 posts, read 10,544,071 times
Reputation: 1940
Here is the Florida Department of Business and Professional Regulations where you can read about the state requirements for a Florida Real Estate License and Florida Broker's License - RE - FREC
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Old 12-12-2012, 06:52 PM
 
Location: Florida
4,894 posts, read 14,134,978 times
Reputation: 2329
It used to be that every 3rd person in Florida had their R.E. license. I got mine back in 1992. Sold properties for a while on AMI under Smith Realtors & had a great in as my xh was in Medicine & I got referrals through him. I put mine under my brokers & went inactive.

Remember, 10% of realtors are selling 90%...or at least that's what it used to be. I went into property management and got my LCAM license this past summer. It wasn't cheap either ($250 for the class, $75 for the online tutor course & then another $250+ to apply for the license & take the exam). I've now been in property management for the past eight years & felt it was time as that's the only way you move up.

Good luck whatever your decision!!!
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Old 12-12-2012, 09:19 PM
 
22 posts, read 33,263 times
Reputation: 25
LWAF,

Just moved to town. Email me your property management info. Jerry@reo-team.com.
Your Players Club bartender.

Jerry
MSU '83
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