What this course covers
The 72-hour broker pre-licensing course is the education Florida requires before you can sit for the broker exam. It is substantially more demanding than the 63-hour sales associate course, and it is supposed to be: a broker carries responsibility for other people’s licenses, other people’s money, and other people’s mistakes.
What changes when you become a broker
The course opens with the shift in legal position. A broker can hold escrow, can employ sales associates, and is answerable for their conduct. Supervision is not advisory; it is a duty with consequences attached.
Running a brokerage
Office operations, business structures and the decisions involved in opening a firm. Recruiting, training and supervising associates. Company policy, and why written policy protects a broker who has one.
Escrow and trust accounting
The section where brokers most often get into difficulty. Opening and maintaining trust accounts, permitted and prohibited transfers, reconciliation, and the reporting obligations that follow a dispute over funds. Expect detail here, and expect it on the exam.
Valuation and investment analysis
Appraisal principles well beyond the sales associate level, including the income approach in practice. Investment property analysis, cash flow and return calculations, and the tax treatment of investment real estate.
Real estate mathematics
Broker-level computations: closing statements, prorations, commission splits across a brokerage, mortgage arithmetic and investment returns. The exam includes calculation questions and this is where you learn to handle them.
Law, ethics and liability
Brokerage relationships revisited from the position of the person responsible for them. Federal and state law affecting a firm rather than an individual, professional ethics, and the disciplinary process seen from the other side.
Who can take this course
Florida requires that you have held an active real estate sales associate license for at least 24 months within the preceding five years, and have completed post-licensing education. Experience in another state may count; check with the DBPR before enrolling if that applies to you.
How the course works
Fully online and self-paced. Florida requires the full 72 hours, and the course tracks your time. At the end you take the course exam, which is separate from the state broker exam. You must pass it to receive your certificate.
Most students take longer over this course than over the 63-hour one. The material is heavier and there is more arithmetic.
