Being inactive does not mean you are not up to date with your bi-annual education or that you are late paying the State of Florida their bi-annual fee. Having an inactive real estate license in Florida just means that you are not active under a Florida real estate Broker. There are currently over 90,000 agents who have a Florida real estate license that is on inactive status. The downside of staying inactive is that you still have to pay the State of Florida their bi-annual fee every 2 years, and complete 14 hors of continuing education. You are not legally able to collect any type of real estate commission if you are not active under a real estate company.
The average person stays on inactive status for 12 years before they finally decide to let their license go. They are not wanting to sell real estate full-time as a Realtor and have to pay annual fees of $1,500+ a year to be a Realtor/MLS member. Most agents that are on inactive status work in another industry, live outside the state or country, or are retired. They would like to sell real estate if possible, but the high annual costs make it difficult.
The Board has regulated our industry so much that there is no way around not joining the Board or the MLS if you want to work with buyers and sellers. With technology now, the Board and the MLS are able to put a stop to non-members. Electronic keys and electronic lock boxes on homes make it so each Realtor is assigned an electronic key to get into homes that only Realtors have access. Mostly all of the listings in the MLS have a section that says they pay non-Realtors 0% commissions, they will require your MLS code at closing to confirm. Also each MLS system is tracked by your IP address, if the MLS sees additional users, they will find out why. You can get more details on this here. If you are producing over $500,000 in sales or more each year, then the Realtor associations provide a lot and it might be worth it, if not, it is questionable on putting in the time and money to be a member.
If you have an inactive real estate license in Florida, there are options for you besides staying on inactive status. An option that you do have besides staying inactive or joining the Board of Realtors is by joining a real estate referral company. This type of company is not a part of the Board of Realtors or the MLS which means they are not able to regulate on how the referral company does business and cannot require you to pay their annual fees. A real estate referral company is a place where people who have a real estate license can hang their license and can still collect real estate commission through referral fees.
Agents in a real estate referral company are not selling but instead referring real estate to an Agent who does sell full-time as a Realtor. Real estate Brokers, throughout the world, typically pay a “referral fee” for a referral from a real estate referral company. At Park Place Realty Network, our agents make 22.5% of the total commission as the referral fee.
A real estate referral company is a great option for those who have a Florida Real Estate license but are not able to sell full-time. Take a look at our website www.ParkPlaceNetwork.com to see the benefits we can offer you.