Real Estate Exams - Florida
Jun 10th 2020, 10:21 pm
#16
DE-UK-NZ-IE-US... the TYP
Joined: Mar 2010
Posts: 2,855
Re: Real Estate Exams - Florida
The office belongs to "the broker". The traditional US fee of 6% of the sales price and collected by the closing lawyer (or escrow agent) is split four ways, with the seller's Realtor (the person they meet and deal with) get 1½%, their Realtor's broker (effectively their employer) get 1½%, and the other 3% being split on the same basis between the buyer's agent and the buyer's agent's broker.
while what you say on the split can be the case it’s all negotiable. A sales person can list at any % commission if their brokerage agrees. While the split is often 50/50 buyer to sellers broker that depends what the agent put in to the MLS (if they don’t do 50/50 they are less likely to have brokers bring clients). The split between a sales person and the brokerage they have their lisence with can vary greatly. Some sales people get 100% but pay a fixed fee to their brokerage, a lot is volume depends.
But the sales people are almost never employees... they are mostly paid on commissions only as 1099 not W2 and so are self employed.
In terms of a course book I was provided with the Dearborn books. There is one general and a state specific one. There is also a good iPhone app: Dearborn “Real Estate” it’s paid but great for the practice exam. I did not get to take the State PSI because they shut down right after I finished for COVID-19.
Jun 10th 2020, 10:48 pm
#17
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,446
Re: Real Estate Exams - Florida
I am considering flipping some houses and took the CT 60h course and exam.
while what you say on the split can be the case it’s all negotiable. A sales person can list at any % commission if their brokerage agrees. While the split is often 50/50 buyer to sellers broker that depends what the agent put in to the MLS (if they don’t do 50/50 they are less likely to have brokers bring clients). The split between a sales person and the brokerage they have their lisence with can vary greatly. Some sales people get 100% but pay a fixed fee to their brokerage, a lot is volume depends.
But the sales people are almost never employees... they are mostly paid on commissions only as 1099 not W2 and so are self employed.
In terms of a course book I was provided with the Dearborn books. There is one general and a state specific one. There is also a good iPhone app: Dearborn “Real Estate” it’s paid but great for the practice exam. I did not get to take the State PSI because they shut down right after I finished for COVID-19.
while what you say on the split can be the case it’s all negotiable. A sales person can list at any % commission if their brokerage agrees. While the split is often 50/50 buyer to sellers broker that depends what the agent put in to the MLS (if they don’t do 50/50 they are less likely to have brokers bring clients). The split between a sales person and the brokerage they have their lisence with can vary greatly. Some sales people get 100% but pay a fixed fee to their brokerage, a lot is volume depends.
But the sales people are almost never employees... they are mostly paid on commissions only as 1099 not W2 and so are self employed.
In terms of a course book I was provided with the Dearborn books. There is one general and a state specific one. There is also a good iPhone app: Dearborn “Real Estate” it’s paid but great for the practice exam. I did not get to take the State PSI because they shut down right after I finished for COVID-19.
Jun 10th 2020, 10:57 pm
#18
Lost in BE Cyberspace
Joined: May 2010
Location: San Diego, California
Posts: 9,654
Re: Real Estate Exams - Florida
I'm amazed at how many people I know have their Real Estate Licence...... and how many never do anything with it (but it's nice to have they tell me 
)
)
Jun 10th 2020, 11:09 pm
#19
DE-UK-NZ-IE-US... the TYP
Joined: Mar 2010
Posts: 2,855
Re: Real Estate Exams - Florida
E.g. https://voropro.com/
Jun 11th 2020, 12:40 am
#20
BE Enthusiast
Joined: Feb 2015
Location: New Jersey, USA
Posts: 565
Re: Real Estate Exams - Florida
Even for one sale or purchase of 500k house for yourself if you only got 1.5% that’s still a $7,500 saving at closing. So the course and licensing fee would be covered for many years... double that for a flip. In some states you can pay an annual fees to a brokerage and get 100% commission, which would then be a $30k saving on a 500k flip if you save 3% on the purchase and sale transaction.
E.g. https://voropro.com/
E.g. https://voropro.com/
And clicking View all Agents goes to a PHP error page
Jun 13th 2020, 1:48 am
#21
BE Enthusiast
Joined: Sep 2017
Location: Miami
Posts: 462
Re: Real Estate Exams - Florida
