FLORIDA REAL ESTATE LICENSING QUESTIONS AND ANSWERS
How do I get licensed as a Florida Real Estate Associate / Sales Agent?
You must successfully complete Course I: Sales Associate License Course, submit an application fee ($105.00), be fingerprinted electronically through PearsonVue ($57.25) and pass the state exam ($31.50). If you would like to take the exam in Spanish remember to request this prior to testing.
Do I need to take any additional classes to get my real estate license?
No, but you will need to complete 45 hours of post license education (60 hours if you are a broker) prior to your first 2 year renewal. This will educate you further in the sales and marketing aspects of being a real estate licensee.
After the first 2 year licensing renewal period what are my continuing education and license renewal requirements?
The department will renew a license upon receipt of your application and fee. This renewal application as sales associate, broker or broker associate must include proof that you have completed the required 14 hours of continuing education during the two years prior to the renewal.
What happens if I don’t complete the required continuing education requirement prior to the expiration date?
If this is your first renewal the initial license becomes null and void and you will have to start anew. If this happens after the first renewal your license status becomes involuntarily inactive. During this time you may not perform any real estate service. To activate the license (during the first 12 months as involuntarily inactive) you’ll need to complete the 14 hour CE course and renew your license with the DBPR. If more that 12 months have passed you’ll need to take a 28 hour CE course and renew with the DBPR.
What should I bring to the exam and when can I expect my exam results?
Bring 2 forms of identification with signatures (one must be a government issued ID). Bring your class passing slip from Florida School of Real Estate and the confirmation number provided to you when the test reservation was made. The exam is administered on a computer and your score report is delivered and given you by PearsonVue (the test vendor) upon completion of the exam.
What happens if I fail my exam and how long is my license application good for?
You may reschedule with the testing vendor (PersonVue) until the education and or application expires. Your initial license application is good for two years from the date received. However your education requirement (Course I) is only good for two years from the date you took and passed the class.
FLORIDA MORTGAGE BROKER LICENSING AND NMLS LOAN ORIGINATOR QUESTIONS AND ANSWERS
Are there any home-study programs?
No. The Office of Financial Regulation mandates that Mortgage Brokers obtain their 24 hours of education in a classroom setting.
Is continuing education required before my first license renewal and what are the CE requirements?
Yes. You must complete 14 hours of continuing education to renew your license. These 14 hours must be from an accredited Mortgage Business School and completed within the past 2 years prior to renewal.
Do I submit my continuing education certificate to the Office of Financial Regulation with my renewal application?
No. At time of renewal you’ll be required to certify that you’ve satisfied the continuing education requirement. It is your responsibility to maintain copies of the certificates of completion for four years.
When does the NEW Florida Mortgage Loan Originator (MLO) license go into effect?
The Florida requirement for the new MLO license becomes effective October 1, 2010.
If I already have my Florida Mortgage License, will I be required to apply for the new MLO license beginning October 1, 2010?
Yes. Anyone wanting to continue working in the Florida mortgage loan origination business will need to register with the Nationwide Mortgage License System (NMLS) AND pass the NMLS National Component Exam. The State will certify current Florida Mortgage Broker License holders as having completed the SAFE ACT 20 hour pre-licensing education requirement as long as the applicant has completed at least 20 hours of State approved mortgage education prior to October 1, 2010. Also, if you are a current Florida Mortgage Broker License holder and have passed the state exam on or after 1/1/2004 the State of Florida will certify you as having completed the NMLS Florida Component Exam requirement.
What can I do if I don’t yet have a Florida Mortgage Broker License, but want to be a Florida Mortgage Loan Originator?
The Florida Office of Financial Regulation states that “individuals who delay in applying for a Florida Mortgage Broker License run the risk of not having their application approved before the October first deadline. While the Office strives to approve or deny each application as quickly as possible, the current application process can take a number of months to complete. A Mortgage Broker application that is still in the pipeline as of October 1, 2010 will expire and a new Mortgage Loan Originator application will need to be filed through NMLS”.
How do I get licensed as a Florida Real Estate Associate / Sales Agent?
You must successfully complete Course I: Sales Associate License Course, submit an application fee ($105.00), be fingerprinted electronically through PearsonVue ($57.25) and pass the state exam ($31.50). If you would like to take the exam in Spanish remember to request this prior to testing.
Do I need to take any additional classes to get my real estate license?
No, but you will need to complete 45 hours of post license education (60 hours if you are a broker) prior to your first 2 year renewal. This will educate you further in the sales and marketing aspects of being a real estate licensee.
After the first 2 year licensing renewal period what are my continuing education and license renewal requirements?
The department will renew a license upon receipt of your application and fee. This renewal application as sales associate, broker or broker associate must include proof that you have completed the required 14 hours of continuing education during the two years prior to the renewal.
What happens if I don’t complete the required continuing education requirement prior to the expiration date?
If this is your first renewal the initial license becomes null and void and you will have to start anew. If this happens after the first renewal your license status becomes involuntarily inactive. During this time you may not perform any real estate service. To activate the license (during the first 12 months as involuntarily inactive) you’ll need to complete the 14 hour CE course and renew your license with the DBPR. If more that 12 months have passed you’ll need to take a 28 hour CE course and renew with the DBPR.
What should I bring to the exam and when can I expect my exam results?
Bring 2 forms of identification with signatures (one must be a government issued ID). Bring your class passing slip from Florida School of Real Estate and the confirmation number provided to you when the test reservation was made. The exam is administered on a computer and your score report is delivered and given you by PearsonVue (the test vendor) upon completion of the exam.
What happens if I fail my exam and how long is my license application good for?
You may reschedule with the testing vendor (PersonVue) until the education and or application expires. Your initial license application is good for two years from the date received. However your education requirement (Course I) is only good for two years from the date you took and passed the class.
FLORIDA MORTGAGE BROKER LICENSING AND NMLS LOAN ORIGINATOR QUESTIONS AND ANSWERS
Are there any home-study programs?
No. The Office of Financial Regulation mandates that Mortgage Brokers obtain their 24 hours of education in a classroom setting.
Is continuing education required before my first license renewal and what are the CE requirements?
Yes. You must complete 14 hours of continuing education to renew your license. These 14 hours must be from an accredited Mortgage Business School and completed within the past 2 years prior to renewal.
Do I submit my continuing education certificate to the Office of Financial Regulation with my renewal application?
No. At time of renewal you’ll be required to certify that you’ve satisfied the continuing education requirement. It is your responsibility to maintain copies of the certificates of completion for four years.
When does the NEW Florida Mortgage Loan Originator (MLO) license go into effect?
The Florida requirement for the new MLO license becomes effective October 1, 2010.
If I already have my Florida Mortgage License, will I be required to apply for the new MLO license beginning October 1, 2010?
Yes. Anyone wanting to continue working in the Florida mortgage loan origination business will need to register with the Nationwide Mortgage License System (NMLS) AND pass the NMLS National Component Exam. The State will certify current Florida Mortgage Broker License holders as having completed the SAFE ACT 20 hour pre-licensing education requirement as long as the applicant has completed at least 20 hours of State approved mortgage education prior to October 1, 2010. Also, if you are a current Florida Mortgage Broker License holder and have passed the state exam on or after 1/1/2004 the State of Florida will certify you as having completed the NMLS Florida Component Exam requirement.
What can I do if I don’t yet have a Florida Mortgage Broker License, but want to be a Florida Mortgage Loan Originator?
The Florida Office of Financial Regulation states that “individuals who delay in applying for a Florida Mortgage Broker License run the risk of not having their application approved before the October first deadline. While the Office strives to approve or deny each application as quickly as possible, the current application process can take a number of months to complete. A Mortgage Broker application that is still in the pipeline as of October 1, 2010 will expire and a new Mortgage Loan Originator application will need to be filed through NMLS”.