How To Become A Real Estate Agent In Nyc? (Solved)

How Do I Get My New York Real Estate License?

  1. Step 1: Be at Least 18 Years of Age.
  2. Step 2: Register and Complete the 75 Hours of Required Education.
  3. Step 3: Find a Sponsoring Broker.
  4. Step 4: Schedule and Take the New York Real Estate Salesperson Licensing Exam.
  5. Step 5: Apply for Your New York Real Estate Salesperson License.

Contents

How much does a real estate license cost in NY?

Real estate courses are available as well as classroom courses. The nonrefundable license application fee is $150 for a real estate broker, and the license will be effective for two years. The salesperson real estate license is $50.00. The expiration dates for both are staggered.

How much does a realtor make a year in New York?

How Much Does the Average Real Estate Salesperson Make in New York State? According to careerexplorer.com, the average salary for a real estate agent in New York State is around $116,460 per year. Obtaining your real estate license is quite quick and easy.

How long does it take to get your real estate license in New York?

It takes 75 hours of real estate coursework to become an agent, while a broker license requires 120 hours and two years of practical experience. Coursework for both licenses is valid for two years after completion, and additional continuing education is mandated prior to renewal.

Do real estate agents make good money in NYC?

According to the Bureau of Labor Statistics, the average real estate agent salary in NYC metro-area was $104,180 in 2018. By contrast, the website Glassdoor pegs the New York City average base real estate agent salary at $87,185.

Is the NY real estate exam hard?

Passing the New York real estate exam is not as hard as you think if you are prepared, calm, and thorough. Commit to the steps above, and you should pass the test no problem and become a licensed real estate agent.

Do real estate agents make good money?

Get Your California Real Estate License! According to the Bureau of Labor Statistics, the average income for Real Estate agents in the state of California is $73,450. California is one of the top earning states for Real Estate agents. Hard work is essential to high salaries, however.

How many hours do real estate agents work?

Daily and Weekly Routines Nearly half (49 percent) work 40 hours or more. What’s more, over half (53 percent) say they work the same hours or longer today than they did their first year.

How long does it take to become a real estate agent?

You can become a real estate agent in about four to six months, depending on where you live. Online prelicensing classes can speed up the process. Requirements vary by state, but the general steps are to take a real estate prelicensing course, take the licensing exam, activate your license, and join a brokerage.

What are top paying jobs?

Here is a look at the top 100 highest-paying jobs:

  1. Cardiologist. National average salary: $351,827 per year.
  2. Anesthesiologist. National average salary: $326,296 per year.
  3. Orthodontist. National average salary: $264,850 per year.
  4. Psychiatrist. National average salary: $224,577 per year.
  5. Surgeon.
  6. Periodontist.
  7. Physician.
  8. Dentist.

What degree do you need for real estate?

In most cases, you don’t require a college degree to become a real estate agent, but it does help potential career job seekers stay competitive and relevant. An associate or bachelor’s degree is more than sufficient—perhaps in business, finance, or any other related field.

How much does a real estate agent make?

How Much Do Real Estate Agents Make? The median annual pay for real estate agents was $48,930 in 2019, according to the most recent data available from the U.S Bureau of Labor Statistics.

How many times can you take the real estate exam in NY?

You can take the NY state licensing exam as many times as needed until you pass. You simply have to schedule a new attempt through your eAccessNY account and pay the $15 examination fee.

How much do part time real estate agents make in NYC?

While ZipRecruiter is seeing salaries as high as $121,753 and as low as $19,195, the majority of Part Time Real Estate Agent salaries currently range between $32,905 (25th percentile) to $87,749 (75th percentile) with top earners (90th percentile) making $109,686 annually in New York.

How do I succeed real estate in NYC?

How To Become A Successful Real Estate Agent In NYC

  1. Identify Your Target Market in NYC:
  2. Work Over Your Online Presence:
  3. Don’t Forget Referrals and Word-of-Mouth:
  4. Look for Hidden and Off Market Properties:
  5. Develop Partnerships:
  6. Stay in Touch with Your Clients:
  7. Be Available:

Get A NY License Online In 5 Steps

Obtaining a New York real estate license may appear to be a difficult task, but we are here to assist you throughout the process. You can continue reading to find out about the five steps you’ll need to do before beginning your real estate profession in New York City. To find out how much it will cost you to obtain your real estate license in New York, please see our Pre-Licensing Pricing page. Purchase your New York Pre-Licensing permit »

Prequalification

  • You must be at least 18 years old to participate. You must not have been convicted of a felony or a sex crime in the past.

Complete 75 hours of approved Pre-Licensing education.

  • To begin, you must successfully complete a 75-clock-hour New York Pre-Licensing Salesperson course that has been approved by the state. Find out more about the many package options available to you here. You should consult the Department of State Division of Licensing website for specific information on the education and examination requirements for your specific situation if you have a bachelor’s degree from a university with a major course of study in real estate or if you have a current license in another jurisdiction but are seeking licensure in New York.

Pass the course final exam.

  • After you have completed all of the course materials, you will be required to take the course final exam. The passing mark is 70 percent, which is the bare minimum. Certification of course completions is valid for 8 years and must be utilized to get a license
  • Otherwise, the certification will expire and the course will have to be repeated. The credit for either of these courses will not expire after it has been applied to a license and can be used for license upgrades. It is required that you take the final test in the presence of a proctor, thus you will need to book an appointment with a proctor ahead of time. More information about proctoring may be found here.

Pass the New York real estate salesperson examination.

  • In order to take this multiple-choice test based on the 75 hour Pre-Licensing program, you will have 1.5 hours to complete it. There is more information available here. If you need assistance passing your New York real estate test, The CE Shop also offers thorough Exam Prep that is specifically customized to the state of New York.

Select a sponsoring broker.

To be eligible for a New York broker license, you must be sponsored by an existing and active broker in the state. It’s critical to choose the proper broker to work with since this individual will act as your mentor as you begin your new real estate career. Here are some questions to think about as you begin your search:

  • What is their standing in the community, both locally and nationally
  • It is unclear what type of real estate agents the company is seeking. Are they technologically sophisticated and up to date with the most recent systems available? The manner in which they assist their agents with education and training. Does the brokerage give their agents with leads and marketing materials? Is there space for advancement within the organization? Are there any advantages available?

Complete the real estate license application.

  1. In the event that you pass the New York Salesperson Real Estate test and are able to locate a sponsoring broker, you should submit your application through eAccessNY.

DOWNLOAD THE PROCEDURES »

Get Your License Online

The online platform, self-paced courses, and high levels of student satisfaction are just a few of the factors that distinguish The CE Shop as the finest in real estate education. Take the first step toward a successful real estate career right now! GET YOUR LICENSE »

How to Get a Real Estate License in New York

To purchase and sell real estate in New York, you’ll need a real estate license, regardless of whether you want to be a real estate agent or a real estate broker. Aside from that, you must be at least 18 years old to become an agent and 20 years old to become a broker, finish particular real estate curriculum, pass a test (or two, depending on the license), and submit to a criminal background check in order to obtain a license. Which license is the most appropriate for you? The distinction between a real estate agent and a real estate broker is mostly determined by the number of years of experience and education that each individual has.

In addition, further education must be completed, as well as a minimum of two years of experience as an agent, in order to become a broker in New York.

Key Takeaways

  • Real estate brokers in New York are among the best compensated in the country, with an average yearly compensation of $87,938
  • They are also among the most in demand. In order to begin, you’ll need to obtain the right license, which might be either an agent or a broker. The employment of licensed brokers is mandatory of all agents, although brokers can choose to work for themselves or to recruit agents to work for them. To become an agent, you must complete 75 hours of real estate training, whereas a broker license needs 120 hours of study and two years of practical experience. Following completion of the coursework for both licenses, the coursework is valid for two years, after which further continuing education is required before renewal
  • A final test and a background check are required for both licenses before you may be granted one of them.

New York Real Estate License Requirements

In New York, there are two sorts of licenses, and the requirements will differ based on which form of license you hold. In New York, for example, a real estate agent (sometimes known as a “salesperson”) is permitted to handle real estate transactions, but he or she must operate under the supervision of a registered broker. A broker, on the other hand, has the ability to operate their own business and employ other agents to work for them. Agents are required to have the following licenses:

  • It is necessary to be at least 18 years old. Must have completed 75 hours of real estate courses from an approved provider (which is valid for eight years from the date of completion) or hold a four-year bachelor’s degree in real estate
  • It is necessary to pass a final test. It is necessary to get fingerprinted and pass a background investigation. It is necessary to be sponsored by a broker.

Broker license requirements include the following:

  • It is necessary to be at least 20 years old. Must have at least two years of experience as an agent or three years of experience in the broader real estate business. It is necessary to have completed 120 hours of real estate education from an accredited source or to have earned a four-year degree in real estate
  • It is necessary to pass a final test. It is necessary to get fingerprinted and pass a background investigation.

A word on background checks: If you are applying to be an agent or broker, you must state any and all criminal convictions on your application. A conviction for a crime may or may not be disqualifying, depending on the nature of the offense. Failure to report a conviction, even if it is for a minor infraction, will result in the refusal of your application without further consideration.

How Long Does It Take to Get a Real Estate License in New York?

It is expected that it will take between four and six months to complete the requirements to become a real estate agent at the salesperson level in New York. To become a broker, you must complete extra criteria, such as 120 hours of real estate coursework (instead of the 75 hours necessary to become an agent) and two years as an agent or three years in the broader real estate profession, in addition to the requirements for becoming an agent.

Real estate agents in New York are among the best compensated in the country, earning an average yearly compensation of $87,938 on average.

How Much Does It Cost to Get a Real Estate License in New York?

Real estate professionals in New York do not have to pay a high price to enter the industry. All things considered, an aspiring agent will spend between $500 to $1,000 to obtain their license, whereas a broker should anticipate to spend approximately $950 to $1,450. The following is a breakdown of the costs:

  • The cost of pre-licensing exam education for agents can range from $379 to $909, depending on the course. It is expected that brokers will spend around $349 for the additional study hours
  • However, there are certain exceptions for both licenses if you have completed qualifying college courses. The fee for a broker application is $155, while the charge for an agent application is $55. Every two years, renewal costs in the same amounts are collected
  • The fees are the same each time. Exam costs for both licenses total $15
  • However, only one license is required. Fingerprinting is also required for both licenses, which will cost you an additional $50.
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Please keep in mind that there may be additional expenses for things like organization memberships, office space, extra training, and asking exemption from specific rules and regulations.

Real Estate License Reciprocity

New York has reciprocity agreements with nine states: Arkansas (broker only), Colorado (broker and associate broker only), Connecticut, Georgia, Massachusetts (broker only), Mississippi (broker only), Oklahoma, Pennsylvania, and West Virginia. Arkansas (broker only), Colorado (broker and associate broker only), Connecticut, Georgia, Massachusetts (broker only), Mississippi (broker only), Oklahoma, Pennsylvania, and West Virginia However, all applicants are required to hold an active license from their home state that was issued within six months of applying to practice in New York.

Can You Apply for a New York Real Estate License Online?

You can submit an application for a New York real estate license either online or via postal mail. You may simply access the online option through the eAccessNY License Management System, which is operated by the City of New York. To schedule your test, you will need to register an eAccessNY account regardless of whether you submit your application on paper or through the online system. While most candidates wait until they have finished their study before scheduling the test, you can arrange it whenever you choose.

New York Real Estate License Exam

You will be able to select from one of eleven official test locations located around New York State using your eAccessNY account. Everything you need to know about your application, including your confirmation and exam results, may be found on the online application site. Test candidates have 90 minutes to finish the agent exam, which is multiple choice in nature. The test is also available in four more languages: Spanish, Korean, Russian, and Chinese. The exam is also available in four additional languages.

Exam results are provided in the form of a pass/fail grade and will be posted to your eAccessNY account as soon as they are made available for viewing.

If you do not pass the test the first time, you can repeat it (with additional fees).

New York Real Estate License Application

As soon as you have finished the requisite courses and passed the exam, you may submit an official application for your license, which can be done either by mail or online using your eAccessNY account.

It should be noted that agents must have a sponsoring broker stated on their application in order to be awarded a license.

New York Real Estate License Renewal

All real estate licenses in the state of New York are valid for two years and must be renewed online. The state will notify you around 90 days prior to the expiration of your license. Agent license renewal costs will be $55, while broker license renewal fees will be $155 for each license. Upon expiration of your license, you have up to two years to renew it before being required to repeat the test.

Does New York Require Post-Licensing Education?

For real estate agents in New York who wish to renew their licenses, they must complete 22.5 hours of authorized continuing education coursework during the two years previous to renewal, with three hours of the coursework focusing on fair housing and/or discrimination requirements. Brokers are subject to the same regulations.

Special Considerations

New York has a number of legislation and regulations that regulate real estate agents and brokers, all of which are detailed in a 46-page document that is intended to safeguard the public from any malicious conduct. There are also special property and real estate laws that every agent and broker should be aware of, such as homestead laws that protect small property owners and lease and rental agreement laws that contain specific rent control restrictions, which every agent and broker should be aware of.

How to Get Your NY Real Estate License in 2020

It doesn’t matter where you are in life right now; you’re most likely reading this because you’re interested in learning how to obtain a New York real estate license. Perhaps you’ve reached a fork in the road and are ready to make a significant shift. Alternatively, perhaps you’ve had a lifelong ambition of selling real estate and now is the perfect moment to take the plunge. I realize that you are feeling overwhelmed by the procedure, no matter where you are. I’ve been there before! In the years before I became the real estate agent you are familiar with from Bravo’s Million Dollar Listing New York.

  1. Back in the day, before I was in charge of a sales team of 60 agents.
  2. Actually, I attempted to build a name for myself as an actress in New York City initially.
  3. Due to the fact that real estate has become so profitable, I have been completely addicted to the transactions.
  4. I couldn’t have made a better choice when it came to my profession.

How Do I Get My New York Real Estate License?

Step 1: Confirm that you are over the age of 18. Step 2: Pass a 75-hour qualifying course offered by the New York Department of State.

Step 3: Apply for, sit for, and pass the New York real estate salesperson examination. Step 4: Obtain sponsorship from a registered New York real estate brokerStep 5: Submit your application for a license through eAccessNY.com Isn’t it straightforward?

How Long Does It Take to Become a Real Estate Agent in New York?

That is a question for you, my buddy, and I will answer it. What time frame do you want it to take? If you’ve read my book, Sell it Like Serhant, you’ll know that I’m a firm believer in the power of initiative in business. In fact, the term “initiative” is one of my favorites. In other words, get started right now. If you’re feeling like you’re up against a brick wall, utilize it as motivation to go on. Allow that wall to serve as motivation for you to obtain your New York real estate license as soon as possible.

Alternatively, you may throw yourself over it.

Here’s the Best Guide to How to Get Your NY Real Estate License in 2021

  • The minimum age to obtain a real estate license in New York is 18 years old.

After that, you’ll be good to go again. If you’re over the age of 18, that’s even better. You may have evolved the personality traits necessary to be a successful salesperson as a result of your own life experiences. You’ve got a lot of energy, passion, and stamina. All that is required now is the appropriate education.

  • Complete a 75-hour qualifying course with the New York Department of State

In order to obtain your real estate license in New York, you may take advantage of the online learning opportunities that are accessible. You’ll be able to find them with a straightforward Google search. The greatest online real estate school in New York, however, isSell It Like Serhant: New Agent Sales Accelerator, which combines a 75-hour pre-licensing, state-qualifying course taught by the New York Real Estate Institute, as well as my patented sales technique. Throughout this course, you will learn all of my unique secrets, methods, and strategies that will help you become a successful New York real estate agent.

You will receive immediate access to the whole course after completing the registration process.

  • Sign up for and pass the New York State real estate salesperson test.

Make an appointment for your test using eAccessNY. Make sure to bring your government-issued, state-approved picture identification with you on the day of the exam. Please include a printed copy of the “Summary of your Submission” with your submission. When you arrange the exam, you will be provided with this information. The New York Real Estate Institute course, which is included with Sell It Like Serhant: Sales Accelerator, counts toward your 75 hours of instruction toward becoming a licensed real estate salesperson in the state of New York.

You’ll be given a pass or fail grade based on your performance.

  • Obtain sponsorship from a registered real estate broker in New York

Your sponsored broker will assist you during your first year as a real estate salesperson. Choose someone with whom you like spending time. Choose a broker who motivates and inspires you, and choose one who manages his or her own team of brokers. The first mistake I made was not joining a team when I first started out. Now, I strongly advise everyone to begin with the proper broker and the right team of professionals. What is the best way to discover the proper broker? Open houses, word of mouth, and social media are all good ways to find out who you like.

Some brokers will actually contact you as soon as you walk out of the exam place to recruit you. Don’t be concerned, there are lots of brokers searching for fresh agents to join their teams. The most important thing is to find one that you like, not the other way around.

After passing the test and locating a sponsoring broker, you can submit an application for your license. For the application to be authorized by eAccessNY, your sponsored broker must login into their own eAccessNY account. Obtaining a real estate license in New York is the first step in getting your business up and running.

How Much Money Can I Make as a Real Estate Agent?

Just a few short years ago, I couldn’t pay for my own tofu and yogurt when I went to a Food Emporium in New York City. My debit card was denied at the pay counter, and I had no idea what to do, so I hurried out of the store, hopped on the subway, and sobbed for the rest of the ride. Yup. This is a true tale. Now, twelve years later, I’m renovating a multi-million-dollar, six-story townhouse in Brooklyn, I have my own driver, I’m in my ninth season of the Bravo television show “Million Dollar Listing,” I have a popular vlog channel, and I manage a 60-person real estate sales team.

It takes a lot of dedication and hard effort.

It needed a willingness to go on some fairly wild rides before I was able to close my first major transactions.

You can do it easier and better.

I didn’t have a mentor or someone who could show me the ropes when I first started out. It was something I had to learn the hard way: on my own. However, I have some wonderful news for you. You don’t have to spend the next twelve years trying to figure everything out like I did. Believe me when I say that if I can do it as a first-time visitor to New York City whose debit card was denied while purchasing tofu and yogurt, you can, too. When you enroll in Sell It Like Serhant: New Agent Sales Accelerator, you will receive the full state-required pre-licensing course, as well as all I know about selling real estate in the world’s most competitive market, all in one convenient package.

You Now Know How to Get Your Real Estate License in New York

Ready? Let’s go through the basics.

  1. Turn 18
  2. Complete the official, New York State-approved 75-hour qualifying course that is included with your purchase. Sell It Like Serhant: New Agent Sales Accelerator
  3. Pass the New York real estate salesperson test
  4. Sell It Like Serhant: New Agent Sales Accelerator Obtain sponsorship from a brokerage firm. Apply for a real estate license in New York
  5. Begin selling real estate properties.

All that’s left is for us to do something. Today is the day to take the first step. Then, as the greatest sales machine, you may begin your new life. It’s time to get started! With My Program, you may obtain your New York real estate license!

  • Ryan Serhant is one of the most successful and well-known real estate agents in the world, having amassed a fortune in the industry. After a decade as the leader of one of New York City’s most successful real estate teams, he created SERHANT., the world’s first brokerage built for the marketplace of the future, in 2008. View all of the postings

How to Become a Real Estate Agent in NY in 7 Easy Steps

Are you interested in learning how to become a real estate agent in New York? In New York State, obtaining a real estate license enables you to sell high-end properties in the Hamptons, high-rise apartments in Manhattan, more inexpensive single-family houses upstate, and even to search for rental properties in Queens or Brooklyn. We promise that you will have a fascinating and fast-paced job! If you believe you have what it takes to become a real estate agent in New York, we would be delighted to assist you in achieving your ambition.

  • Applicants must be at least 18 years old and free of criminal convictions.

If you match the basic qualifications, the following are the procedures you’ll need to do to obtain your real estate license in the state of New York: Before we get into the specifics of how to become a real estate agent in New York, let’s talk about how much it will cost.

How much does it cost to get a real estate license in New York?

In New York, the cost of obtaining a real estate license is around $500. Some of these expenditures, such as the application fee and test fee, are set in nature. The pricing of your course and exam preparation materials may vary based on which organizations you choose to work with.

New York Real Estate License Costs

Prelicensing Classes (75 hours) $289 (Real Estate Express)
Exam Prep $129 (Mbition)
NY Real Estate License Exam Fee $15
Application Fee $55
Total Cost $488

Now that you’ve learned the fundamentals of how to obtain a real estate license in New York, let’s get started on the actual application process.

1. Choose a Real Estate School

The first step in becoming a real estate agent in New York is to enroll in a real estate school, either in person or online, as described above. Real estate schools in New York that you may attend in person:

  • It is possible to accomplish the project in 10 days. You’ll need to be able to spend the entire day in the classroom if you want to succeed. Make it possible for you to engage in person with professors and other students*

No exceptions are made for pandemic limitations; for further information, please contact the school directly. Real estate schools in New York City that are available online:

  • It is possible to go at your own pace
  • Remove the requirement for a daily commute
  • Are often less expensive than traditional on-campus education

Enrolling in online courses appeals to most individuals because of the convenience and cost they provide. Consider Real Estate Express if you’re searching for an online school to further your education in real estate. It is the most prestigious online school for prospective New York real estate brokers. Real Estate Express offers four different packages ranging in price from $289 to $474. The top three packages offer a “pass or don’t pay” guarantee, which means that if you don’t pass the licensing test on your first attempt, you’ll receive a full refund of your tuition.

To save money, use the coupon code TheClose25.

2. Complete 75 Hours of Qualifying Courses

In order to be eligible to sit for the New York real estate licensure test, you must have completed 75 hours of qualified real estate courses. All of the authorized New York real estate schools are expected to include the same themes in their curriculum. For further information, please see the FAQs section below. Despite the fact that all accredited institutions are expected to teach the same content, the majority of them provide a range of packages that include additional resources. For example, Kaplan’s Profession Launcher Package contains the essential courses as well as their Real Estate Accelerator, which is a curriculum designed to assist you in getting started in your real estate career.

3. Create an eAccessNY Account to Schedule Your Exam

To schedule your real estate salesperson licensure test, you’ll need to register with eAccessNY and create an account. eAccessNY is the state’s occupational license management system, which was developed in-house. Following the completion of 75 hours of coursework, log into your account and select “apply to take the exam” from the main menu. You will then be able to choose from one of eleven testing locations around New York State. The cost of the exam is just $15.

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4. Study for the Exam

In spite of the fact that Real Estate Expressprovides test preparation resources with the majority of their packages, you may wish to invest in extra study materials.

Check out Mbition’s Master Exam Prep Package for more information. The price of $129 includes a customised study plan that contains the following features:

  • New York Real Estate Exam Prep
  • MathMaster, a software that will assist you in mastering important arithmetic topics that you will need in order to obtain your real estate license in New York
  • New York Real Estate Exam Prep
  • And New York Real Estate Exam Prep. Review of recorded real estate transactions
  • Tips for Passing the Real Estate Exam
  • Real Estate Flashcards are a useful tool.

Mbition is so confident in the effectiveness of their curriculum that they promise that you will pass the test on your first attempt. Pay a visit to Mbition

5. Take the New York Real Estate Exam

For the multiple-choice written test, you will have 1.5 hours to complete the questions. Bring the following items to the location where you will be tested:

  • One government-issued picture identification card that is current and valid
  • The “Summary of Your Submission” from eAccessNY, which includes your exam details and candidate number
  • A printed copy of the “Summary of Your Submission” from eAccessNY. When using a calculator, make sure to provide the following information: Two2 pencils are required.

Pro tip: Make sure to turn off your cell phone while taking the exam. Large baggage, reference materials, food, and beverages should be left at the hotel. The results of your examination will be available on your eAccessNY account immediately upon the completion of the scoring procedure by the examination unit. You will not be given a grade, but rather a pass/fail notification. Retakes of the New York real estate license test are permitted, but you will be required to pay the $15 examination fee each time.

6. Find a Broker to Hire You

Following your successful completion of the real estate salesperson test and receipt of a passing notification or log-in to eAccessNY to view your results, you can begin looking for employment with a New York real estate broker or company. Licensed real estate agents are expected to work under the supervision and sponsorship of a licensed real estate broker. Advice from the experts: Licensed brokers have worked in the profession for three years, have completed 45 extra hours of real estate education, and have passed the New York State broker examination.

You may decide to quit your day job and go headfirst into the business.

It is completely achievable!

7. Apply for Your Real Estate License in New York

You’ve now finished the more difficult assignments. Filling out the application for your driver’s license should be a piece of cake for you. The following is the procedure to follow in order to become a real estate agent in New York:

  1. Enter your eAccessNY credentials and complete the online application
  2. On the application, you must include the unique ID number of your sponsored broker. Your broker will be notified that you have filed a licence application, and he or she will provide his or her permission
  3. Your New York real estate license should have arrived in the mail at your place of business. The licensing bureau will create your license and ship it to your new workplace within one week of receiving your application.

The application price is $55, and you must renew your license every two years if you want to keep it.

How to Become a Real Estate Agent in NY FAQs

You’re only seven steps away from embarking on an exciting new professional journey. Here’s some more information that can assist you in your pursuit of becoming a real estate agent in New York.

How much do real estate agents in New York make?

According to Indeed, the typical income of a real estate agent in New York is from $86,000 to $95,000 per annum. The lower end of the range represents the average annual salary for real estate agents in New York State, while the upper end represents the average annual income for real estate agents in New York City.

How long does it take to become a real estate agent in New York?

In New York, it takes around three months to become a licensed real estate agent. The 75 hours of prelicensing education that you’ll need to complete will be the most time-consuming component of the procedure for you.

Is getting your NY real estate license worth it?

There are various procedures involved in becoming a licensed New York real estate agent, and it will take around three months and at least $500 to complete the process.

It’s well worth the effort. Working as a real estate agent provides you with a limitless earning potential as well as complete control over your time. It’s difficult to find a job that offers such advantages.

What topics do NY real estate classes cover?

The State of New York requires that all real estate schools in the state, whether in person or online, teach the same curriculum, which includes a thorough list of subjects. Listed below is a list of the subjects that you will be studying in your classes:

  • Legislation and regulations governing licenses
  • Agency law
  • And legal concerns The contract for the sale or leasing of goods
  • Financial aspects of real estate
  • Land use rules
  • Construction and environmental concerns
  • The method of valuing and pricing properties is described in detail. Human rights and the right to affordable housing
  • Real estate mathematics
  • Municipal government
  • And other topics. Indemnity insurance for your home
  • Liability insurance for your car
  • And health and life insurance for you and your family. Licensee protection
  • Commercial and investment properties, as well as taxation and assessment
  • Condominiums and cooperatives
  • Issues relating to income tax in real estate purchases
  • Mortgage brokerage
  • Property management
  • And other services.

Don’t be intimidated by this lengthy list of important subjects. Remember, it is the responsibility of the real estate educator to ensure that the content is presented in an understandable manner. Please see below for the full list of subjects covered in this New York State Real Estate Salesperson program.

How hard is the real estate exam in NY?

Although the pass rates for the New York real estate test are not publicly published, several online real estate schools do disclose information about their student success rates to prospective students. The CE Shop’s students, for example, pass the New York salesperson licensure exam on their first attempt 91 percent of the time. However, even if your real estate school will deliver the information in a straightforward manner, you will be required to put in the necessary effort to master the topic.

How do I find a broker to sponsor me?

To select a brokerage to manage your job, be prepared to knock on doors and present yourself to potential clients. As a matter of fact, you may communicate with them through their social media profiles. Here is a list of some of the Best Real Estate Companies to Work for in 2021 to assist you in selecting the most appropriate agency for you. When you are researching career opportunities with various brokerages, make sure to inquire about their employment policies. Here are a few themes to consider to help you organize your debate.

Split

Your “split” refers to how you’ll divide the commissions you make from assisting customers in the purchase and sale of real estate (or find a rental property).

Desk Fee

It is possible that certain brokerages will offer you a bigger proportion of the split than others. Despite the fact that you may earn a bigger percentage of the commission on each transaction, you may be required to pay a monthly desk fee in exchange. Every month, regardless of how many homes you sold (or didn’t sell), you’ll be required to pay the charge.

Cap

A cap is the maximum amount of commissions that a brokerage firm will deduct from your earnings over the course of a calendar year. Some agencies may give a larger split but a smaller cap, while others may offer the opposite. All of these conditions should be taken into account before signing a contract with any brokerage firm. It’s time to start finding clients and collecting commissions as soon as you’ve signed on the dotted line.

Additional Resources for Succeeding in Real Estate

Allow us to assist you in achieving success in your new real estate profession. With our definitive guide on how to obtain a real estate license, you can gain guidance from individuals who have already completed the process.

Also, consider becoming a member of ourReal Estate Agent’s Mastermind Groupon Facebook to receive solutions to your exact questions from seasoned real estate professionals.

What are the Requirements for a New York Real Estate License?

Do you want to learn how to become a real estate agent in New York and obtain your New York Real Estate License? In New York, Real Estate Express has educated hundreds of aspiring real estate agents, and we make it simple for you to learn all you need to know about the state’s real estate licensing requirements. New York real estate license education requirements are straightforward: you must finish 75 hours of New York real estate license education and pass the New York real estate licensing exam in order to become a real estate agent in the state.

  1. Step 1: Comply with the New York Real Estate License requirements, which are as follows:
  • To be given a real estate license in New York, you must be at least 18 years old. In addition, you must not have any felony convictions on your record.
  • Step 2: Completing a 75-hour salesperson qualifying education course in real estate that has been certified by the New York Department of State is the second requirement. -Join Us Right Now
  • Third, pass the New York real estate licensing exam, which is conducted by the New York Department of State.
  • A total of 1 1/2 hours will be allotted to applicants for completion of the exam
  • The New York real estate licensing exam is available in four languages: Spanish, Korean, Russian, and Chinese. You must tell an exam proctor when you arrive at the test center if you intend to take the exam in one of the four languages listed above.
  • In addition to your New York real estate licensing application, you must provide the following documents:
  • Certificate of Satisfactory Performance The New York Department of State has completed the completion phase of the application for you. As a general rule, a certificate of course completion produced by the institution meets the requirements for this paperwork. The notification of the examination must be provided along with your application form. Fee for obtaining a license
  • Name of your licensed real estate broker in the state of New York

What kind of information will I learn from Real Estate Express to help me get a real estate license in New York?

Real Estate Express can assist you in preparing for the New York state real estate license examination. You will be able to progress at your own speed. You will also receive resources that will help you in your future profession. Get a passing score on your New York real estate licensing exam the first time, or you won’t be charged.

Does New York have licensing reciprocity with other states?

Arkansas, Colorado, Connecticut, Georgia, Massachusetts, Mississippi, Oklahoma, Pennsylvania, and West Virginia are among the states that have ratified the treaty.

Questions to answer when you are searching for a sponsoring broker in New York:

  • How excellent is the broker’s reputation in the community
  • What sort of real estate is being offered by the broker? Is it the type of product you’re interested in selling? What level of technological sophistication the broker possesses
  • Do they have a history of sponsoring people? If yes, what methods do they use to assist the education and training of their real estate agents? Does the company supply leads and marketing materials to their real estate agents? What commission structure does the company offer? Do they provide any additional perks to their agents? Is there opportunity for expansion at the brokerage, or are there currently more agents than are required for the volume of business that they handle?

Real Estate Express Courses Fulfill Your New York License Requirements

Almost all of the Real Estate Express packages have been authorized by the New York Department of State and meet all of the requirements to sit for the state’s real estate licensing examination. Get your real estate license as soon as possible!

Online Limitations

An extension is available if you are unable to complete your course within the six-month period of access time. The New York License Law Rule 176.25 states that if you do not finish your course within the one-year time limit allowed, you will be compelled to re-register for your course and retake the full course from the beginning. SCHEDULING YOUR FINAL Test: The state of New York mandates that your final exam be proctored, and the school is responsible for scheduling this. Following completion of at least 75% of the course units, you will need to study the Proctor list in the Documents area, choose a proctor location that is suitable for you, and submit this form to schedule your final exam.

It is essential that you finish your course final exam prior to the course expiration date, or you will be required to pay an extension in order to continue accessing that component of your course.

Purchasing an extension is not an option.

It is necessary for you to submit a fresh scheduling request for the rescheduled exam date in order to get it scheduled.

You are entitled to ONE free rescheduling of your examination. A $25 fee will be charged for each additional rescheduling after the first one is free of charge. Before your proctor appointment may be rescheduled, you must pay the rescheduling costs that apply.

New York State Department of State Division of Licensing Services

One Commerce Plaza, 6th Floor, 99 Washington Avenue, Albany, NY 12231 (phone: 5184744429; fax: 5184736648; address: 99 Washington Avenue, One Commerce Plaza, 6th Floor, Albany, NY 12231

How to Get a Real Estate License in New York in 5 Steps

How to Obtain a Salesperson’s License in New York State A Real Estate Salesperson License in New York is issued by the New York Department of State (NYDOS) only after the fulfillment of the processes outlined in the following section.

  1. Prepare for and pass the New York Real Estate Exam
  2. Choose a sponsoring broker
  3. Submit the Licensing Application
  4. Complete 75 hours of approved education
  5. And pass the course final exam.

Steps to Become a Real Estate Agent in New York

  • You must be at least 18 years old to participate. You must not have been convicted of any crimes or sex offenses in the past. You must possess a valid New York picture driver’s license or non-driver identification card
  • You DO NOT need a high school diploma or a GED in order to apply.

Complete 75 Hours of Approved Pre-License Education

The 75-hour New York Pre-License Course is the first stage in the process of getting a license. This course will cover a variety of subjects, including the following:

  • Regulations concerning land use and environmental concerns
  • Contract law
  • Real estate financing and investment
  • Commercial real estate
  • Real estate investments
  • Property management

Pass the Course Final Exam

  • The New York Department of State requires that you pass the final test for the pre-license course with a score of 70 percent or higher after you have completed the 75-hour course requirement.

Pass the New York Real Estate Exam

You must next sit for and pass both the state and national components of the New York Salesperson License Examination with a score of at least 70 percent in order to be eligible to work in the state. For the multiple-choice test, you will have 90 minutes to complete it in full. There are 75 questions on your test, all of which are based on the subject covered in the 75-hour Pre-Licensing course. In New York, exam results are published as either passed or failed depending on the subject matter.

Mandatory COVID-19 Precautions

If you match any of the criteria listed below, you should not attend for the test.

  • Temperatures higher than or equal to 100.0 degrees Fahrenheit are required. Had known close contact with a person who has been confirmed or suspected to be infected with COVID-19 in the previous 14 days
  • If you are now experiencing ANY of the symptoms listed below:
  • Fever
  • Chills
  • Muscle Pain (new or worsening)
  • Headache (new or worsening)
  • Sore Throat (new or worsening)
  • Or New Loss of Taste New Loss of Smell
  • Or
  • New Loss of Taste New Loss of Smell Have had a positive COVID-19 test result in the last 14 days as a result of a diagnostic test
  • If you need to postpone your exam due to sickness, you can do so by sending an email to [email protected] You are not permitted to bring anyone with you to the examination place. Unless your requested exam date has been verified, you should not present at the exam venue. Bring a face covering or a mask to your appointment. Face coverings are required at exam sites
  • However, they are optional. When feasible, keep a distance of 6 feet between you and others at the exam location. Take precautions to disinfect your hands before and after taking the exam. During the exam, the exam center will give hand sanitizer. Bring two pencils that have been sanitized2 to your test.
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Choose a Sponsoring Broker

Licensees will need to be sponsored by an active New York real estate broker in order to be able to sell real estate in the state. This individual will function as your mentor as you begin your new professional endeavor. During your search for a sponsored broker, you should examine the following questions:

  • What is their general reputation? Are they well-versed in their field of expertise? What are the most recent rules and regulations that they are familiar with
  • What level of assistance they provide to their agents
  • What type of commission structure do they have available to you? Are there any advantages? It is important to know what kind of leads and marketing materials they provide to their agents. Are there opportunities to advance your career inside the brokerage?

Complete the License Application

  • You will also need to submit an application for a license with the New York Department of State (DOS). You have the option of mailing in your application or applying online. If you want to pay by credit card (Master Card or Visa), you will also be required to fill out an authorization form, which will be sent with your application together with your payment. Bureau of Educational StandardsP.O. Box 22001Albany, NY 12201-2001 Bureau of Educational Standards Fill out and submit the Application Form. Do not forget to fill out the Credit Card Application Form.

How Long Does It Take to Get a Real Estate License in New York?

A real estate license in New York can be obtained in as little as three months and as long as five months. The amount of time it takes to get a real estate license, on the other hand, is dependent on whether the student completes the pre-license coursework online or in a classroom setting, as well as how much time the student has available to devote to studying and moving through their courses.

How Much Does It Cost to Get a New York Real Estate License?

The cost of obtaining a New York real estate license varies depending on which real estate school a prospective licensee chooses to attend. It can range between $200 and $425. The acquisition of a real estate school is the most expensive and most important transaction you can make. If a student decides to attend in-person classes rather than enrolling in an online course, the cost of pre-license courses will vary depending on his or her location. The following are the fees that must be paid:

Course Tuition $149.00 – $350.00
Application Fee $55.00
Examination Fee $15.00
Total $200.00 – $425.00

New York Real Estate License Reciprocity

Real estate brokers, associate brokers, and salespersons from the states of Arkansas, Colorado, Connecticut, Georgia, Massachusetts, Mississippi, Oklahoma, Pennsylvania, and West Virginia are eligible for license reciprocity in the state of New York. Those seeking for their license based on reciprocity, attorney status, or holding an expired license must also submit a paper application to the Department of State (DOS) through the normal mail.

Real estate licensees who have completed their pre-license education outside of New York State and who have acquired an education waiver must pass the state test and submit their application to the Department of State’s Licensing office for processing before their license may be granted.

States with Reciprocity

State License Requirements
Arkansas Broker only – two years licensure and current. (Business and Residence must be in Arkansas.)
Colorado Broker and Associate Broker. Current licensure. (Business and residence addresses must be in Colorado). Colorado Associate Brokers must submit a salesperson application and $55 fee, along with their certification and irrevocable consent form.
Connecticut Broker and Sales – current licensure only. (Business and Residence must be in Connecticut.)
Georgia Broker and Sales – current licensure only (business and residence must be in Georgia). Must have obtained their license by passing the Georgia exam.
Massachusetts Broker only – two years licensure and current. (Business and Residence must be in Massachusetts.)
Mississippi Broker only – two years licensure and current. (Business and Residence must be in Mississippi.)
Oklahoma Broker and Sales – two years licensure and current. (Business and Residence must be in Oklahoma.)
Pennsylvania Broker and Salesperson – current licensure only. (Business and Residence must be in Pennsylvania)
West Virginia Broker and Sales – current licensure only. (Business and Residence must be in West Virginia.)

More information about license reciprocity in New York may be found at the New York State Department of State’s Real Estate Reciprocity Guide.

How to Become a Real Estate Agent in NYC

Whether you’ve had a passion for real estate since you were given your first set of building bricks or you’re in the “how difficult can it be?” camp, there may come a time when you’d like to work as a real estate agent in New York City, which necessitates obtaining your real estate broker’s license (yes, you needone). Here are some things to consider before taking the test:

  • You must be “usually” qualified in order to be considered. According to the licensing statute (which brokers refer to as “Article 12-A”), you must be above the age of 18, you cannot have a felony conviction on your record, and you must be current on your child support payments. Note: You do not need a college degree to become a real estate agent
  • However, you must complete an authorized real estate course and pass a test. Subjects covered in the 75-hour coursework include real estate financing, sales contracts, property management, and fair housing. You may complete the coursework either on-line or at a real estate school. Although you may complete an online course at your own speed, there is something special about attending a real estate school and getting to know your classmates – they may prove to be valuable contacts throughout your first few years in the profession. Make preparations for the exam. The test is rather simple, yet it can be challenging in the sense of “which of these things is not like the other” type of situation. You may get practice examinations and example questions by searching the internet. The most of the time, the examiners are checking to see that you understand what is legal and what isn’t (for example, salesmen aren’t authorized to touch money
  • That is the responsibility of brokers). You must arrange your appointment online using theeAccess system
  • Then you must take the test. You’ll have to pay a $15 price for the exam itself (which will take around 90 minutes), which is in addition to the $50 fee you’ll have to pay to apply for your license. Additionally, you’ll be required to present valid identification, be on time, and refrain from bringing food or drink. Please turn off your cell phones. Whew

What Happens After the Real Estate Test

Given the fact that you studied real estate titles, learnt that you were acting as an agent for a principle, and were familiar with nondiscrimination law, you were well prepared to pass the salesperson’s test. Right? Right. You’ll need to find work now. If you haven’t previously spoken with brokerages about your options prior to the exam, now is a good time to start (which is fine to do). Here are the steps you should do next:

  • Become a member of a firm. Do you want a large corporation or a small corporation? Do you want to focus on a specific geographic neighborhood or do you want to work throughout a larger area of the city? Do you intend to work part-time or full-time when you are hired? What is the significance of money in your life? Training? Organizations that give excellent training frequently, but not always, do not pay as well as firms that throw you into the deep end and let you to sink or swim on your own initiative. In addition, don’t forget to inquire about the company’s start-up costs: Will they cover the cost of your business cards, or do they expect you to cover the cost yourself? Is there a monthly technology or desk cost that you’ll have to pay? ” Yes, this is something that some businesses do. Make contact with a professional association. If you’re still perplexed (and who wouldn’t be?) contact your local trade organization for assistance. Many businesses that work in the region are represented by a real estate board in most counties, and this board may be useful in guiding you through the early stages of your real estate career in certain situations. That’s REBNY in New York City (Real Estate Board of New York). This trade group represents the interests of real estate professionals in Rockland and Orange Counties. It should be noted that all agents working for REBNY member firms are obliged to join the organization. For example, Corcoran is a member company of the Real Estate Brokers of New York (REBNY), thus if you join Corcoran, you must also join REBNY. The majority of big and smaller enterprises in New York City are members of REBNY. It is, nonetheless, feasible to work in real estate without becoming a member. It is important to note that as a REBNY member, you will be required to pay dues (which will be in the neighborhood of a several hundred dollars)
  • Get out there! Prepare yourself to be financially strapped for the first 6-12 months of your career as you learn your skill. Even if you start making sales right away — which you probably won’t — you’ll have to wait many months before you see any money. This is especially true in New York City, where a closing may take up to four months following an accepted offer. The star of Bravo’s Million Dollar Listing New York, Ryan Serhant, said in an interview with Business Insider that he made no money in his first year on the show. Sales pay more, but rentals pay faster, so you can attempt to do a combination of the two when you first start out. Make some new acquaintances. When you “babysit” an open house for a well-established broker, you may often make a difference. In exchange for this or other favors such as copying keys, checking on contractors, and (gasp!) photocopying, you may be given a small sum of money. But even if you don’t have any experience, it could make sense to volunteer for some of those responsibilities in return for the ability to ask a more senior broker questions about the sales process, how to put up a co-op package, and so on. In addition, keep in mind that everyone you meet at every other business has the potential to be useful, and that you may wind up working together in the future.

New York City may seem large, but in the world of real estate, it suddenly shrinks, and you come into contact with a large number of agents and brokers on a regular basis. Related:

  • How to Convert Contacts Into Leads
  • How to Sell? See the ideal number of listing photos for further information. How to Farm Buyer and Seller Leads
  • How to Farm Buyer and Seller Leads

How to Become a New York Real Estate Broker in 8 Steps

Learn more about real estate license and take advantage of exclusive discounts. Are you ready to be your own boss in every sense of the word? Real estate brokers in New York are permitted to operate independently and to employ additional agents. Find out what it takes to advance your profession to the next level by obtaining a broker license in New York.

8 Steps to Becoming a Real Estate Broker in New York

  • Work as a licensed real estate salesperson or professional to gain valuable experience. Obtained at least the bare minimum number of points Preferably, you should do the 45-hour Real Estate Broker Course (and perhaps the Salesperson Course as well). Establish your goals for yourself as a broker. Fill out an application with the Division of Licensing Services to register your business name(s). Successfully complete the State Real Estate Broker Exam
  • Fill out an application for a broker license
  • Pay the nonrefundable application fee
  • And get the license.

Step 1 – Get Experience as a Licensed Real Estate Salesperson

You must pass the experience, education, and examination smelling tests in order to be eligible for a broker license in New York State. The first component, experience, may be divided into three categories:

  • Two years of full-time experience as a licensed real estate salesman in the field
  • At least three years of full-time experience in the real estate sector (including purchasing and selling your own houses, working as a property manager, and so on). Working as a licensed salesman in addition to working in the real estate industry in general

Step 2 – Meet the Minimum Points Requirement

In addition to looking at a person’s years of experience, the state of New York employs a point system to assess whether or not they have enough experience to become a broker. Each of the real estate functions is assigned a weighted rating.

  • In order to qualify as a licensed real estate salesperson, you must have at least 3,500 points
  • In order to qualify as a real estate professional with three or more years of experience, you must have at least 5,250 points. For a combination of experience, you must have 5,250 points
  • Otherwise, you will not be able to compete.

Step 3 – Take the 45-Hour Real Estate Broker Course (and Possibly the Salesperson Course)

If you have the necessary experience, you can go to the next phase, which is education. In the event that you are currently a licensed real estate agent and have completed the 75-hour salesperson qualifying education course within the previous eight years, you will just need to finish the 45-hour real estate broker education course. It is necessary to finish both courses, however, if you are a real estate professional who does not hold a salesperson license or if you completed the salesperson course more than eight years ago.

Step 4 – Decide What Type of Broker You Want to Be

You’ll need to decide what kind of broker you want to be before you get started. Depending on how you look at it, it might make or break step 5. Among the alternatives are:

  • Associate Broker – You would still require the services of a sponsored broker. Individual Broker – Conduct business just in your name
  • Trade Name Broker – A sole entrepreneur who does business under a business name rather than under his or her own personal name. Partnership Broker – A person who is a member of a partnership and who does business in the name of the partnership. The term “corporate broker” refers to a member of a company who is licensed to execute real estate transactions in the name of the corporation. Broker for a Limited Liability Company or Limited Liability Partnership – Members or management of a limited liability business or limited liability partnership may choose to work as a broker in the name of the company or partnership.

Step 5 – Submit Your Business Name(s) With the Division of Licensing Services

If you pick a different choice than associate or individual broker, you will be required to submit your company name(s) to the Division of Licensing prior to submitting your application. As part of the registration process, you’ll need to file an official certificate with the Office of the County Clerk in the county where your business is situated.

If you intend to operate as a corporate broker, limited liability broker, or limited liability partnership broker, you must file extra documentation with the Division of Corporations of the New York State Department of State (NYS Department of State).

Step 6 – Pass the State Real Estate Broker Exam

TheeAccessNYOccupational Licensing Management System will allow you to plan a time to sit for the state real estate broker exam when you have completed all of the curriculum. The day of the exam, you’ll need to bring a current government-issued picture identification card with you as well as a printout of the “Summary of Your Submission” page that was created when you scheduled the exam. You’ll have two and a half hours to finish the multiple-choice exam, so plan accordingly. After the examinations have been graded, the results (pass or fail) will be provided to you through your eAccessNY account.

Step 7 – Apply for a Broker License

Following receipt of the much sought-after pass notification, you can submit an online application for a broker license using the eAccessNY system. To ensure that the form is comprehensive, including information about the institution that delivered the requisite courses as well as the name of your current broker if you are a real estate agent. If you’re seeking to be an associate broker in New York, you’ll also need to give the details for your sponsoring broker.

Step 8 – Pay the Nonrefundable Application Fee

Additionally, you’ll be required to pay a $155 nonrefundable application fee in addition to submitting your application. Payable to the New York State Department of State, the fee should be sent with the application. As soon as your application and money have been completed, you will obtain your New York broker license, which will be valid for two years before it has to be renewed! Aceable, Inc. retains ownership of all intellectual property rights.

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