- Submit a completed application and the required fee to the Department of State.
- Be 18 years old.
- Have successfully completed a Department of State approved 75-hour salesperson qualifying education course.
- Be sponsored by a NYS licensed Real Estate Broker.
- Pass the NYS Real Estate Salesperson examination.
- 1 How much does a real estate license cost in NY?
- 2 How much does a realtor make a year in New York?
- 3 How hard is the real estate exam in NY?
- 4 Do you need a college degree to be a real estate agent in New York?
- 5 How do I find a broker to sponsor me?
- 6 Can you get your NY real estate license online?
- 7 Is real estate hard?
- 8 How many hours do real estate agents work?
- 9 How much does a real estate agent make?
- 10 How many times can you take the real estate exam in NY?
- 11 Is it worth it to become a real estate agent?
- 12 Do real estate agents make good money?
- 13 How to Become a Real Estate Agent in New York
- 14 Step 1: Be at Least 18 Years of Age
- 15 Step 2: Register and Complete the 75 Hours of Required Education
- 16 Step 4: Schedule and Take the New York Real Estate Salesperson Licensing Exam
- 17 Step 5: Apply for Your New York Real Estate Salesperson License
- 18 Get A NY License Online In 5 Steps
- 19 Get Your License Online
- 20 How to Get a Real Estate License in New York in 5 Steps
- 21 Steps to Become a Real Estate Agent in New York
- 22 How Long Does It Take to Get a Real Estate License in New York?
- 23 How Much Does It Cost to Get a New York Real Estate License?
- 24 New York Real Estate License Reciprocity
- 25 How to Get a Real Estate License in New York
- 26 New York Real Estate License Requirements
- 27 How Long Does It Take to Get a Real Estate License in New York?
- 28 How Much Does It Cost to Get a Real Estate License in New York?
- 29 Real Estate License Reciprocity
- 30 Can You Apply for a New York Real Estate License Online?
- 31 New York Real Estate License Exam
- 32 New York Real Estate License Application
- 33 New York Real Estate License Renewal
- 34 Does New York Require Post-Licensing Education?
- 35 Special Considerations
- 36 What are the Requirements for a New York Real Estate License?
- 37 Real Estate Express Courses Fulfill Your New York License Requirements
- 38 How to Become a Real Estate Agent in NY in 7 Easy Steps
- 39 1. Choose a Real Estate School
- 40 2. Complete 75 Hours of Qualifying Courses
- 41 3. Create an eAccessNY Account to Schedule Your Exam
- 42 4. Study for the Exam
- 43 5. Take the New York Real Estate Exam
- 44 6. Find a Broker to Hire You
- 45 7. Apply for Your Real Estate License in New York
- 46 How to Become a Real Estate Agent in NY FAQs
- 46.1 How much do real estate agents in New York make?
- 46.2 How long does it take to become a real estate agent in New York?
- 46.3 Is getting your NY real estate license worth it?
- 46.4 What topics do NY real estate classes cover?
- 46.5 How hard is the real estate exam in NY?
- 46.6 How do I find a broker to sponsor me?
- 47 Additional Resources for Succeeding in Real Estate
- 48 How to Get Your NY Real Estate License in 2020
- 49 How Do I Get My New York Real Estate License?
- 50 How Long Does It Take to Become a Real Estate Agent in New York?
- 51 Here’s the Best Guide to How to Get Your NY Real Estate License in 2021
- 52 How Much Money Can I Make as a Real Estate Agent?
- 53 You Now Know How to Get Your Real Estate License in New York
- 54 4 Steps How to Become a Real Estate Agent in New York
- 55 Reasons to Become an Agent
- 56 The 4 Steps
- 57 Take State Approved 75-hour Real Estate Pre Licensing Course
- 58 In Person Course
- 59 Online Course
- 60 Pass School’s Final Exam
- 61 Certificate of Completion
- 62 Pass the NY State Exam
- 63 eAccessNY
- 64 What to bring with you at the exam:
- 65 Find a Sponsoring Broker and Finalize the Application
- 66 Residential Rentals
- 67 Residential Sales
- 68 Commercial Sales
- 69 Commercial Leases
- 70 Commission Split
- 71 Going Forward
How much does a real estate license cost in NY?
How Much Does It Cost to Get a Real Estate License in New York? Becoming a real estate professional in New York isn’t prohibitively expensive. When all is said and done, an aspiring agent will spend around $500 to $1,000 to get their license, while a broker can expect to pay around $950 to $1,450.
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 hard is the real estate exam in NY?
You need to score 70% or higher. Since there are 75 questions, it means that you need to answer 53 questions correctly to pass. Real estate exam results are reported as either passed or failed—you will not receive a numerical score.
Do you need a college degree to be a real estate agent in New York?
Unlike some professions, you don’t need a college degree to be a New York real estate agent. You do need a high school diploma (or GED) to take the licensing exam.
How do I find a broker to sponsor me?
You can find independent broker sponsor by just googling “broker sponsorship”, and you should see several sponsoring brokers for a fee that will let you keep 100% of the commission.
Can you get your NY real estate license online?
Once you pass the New York Real Estate exam, you need to fill out the online application and pay the required fee to obtain your license. The New York Real Estate Salesperson Application can be found on the New York Department of State Division of Licensing Service website, or you can complete it online (see Step 5).
Is real estate hard?
Earning a living selling real estate is hard work. You have to be organized in order to keep track of legal documents, meetings, and all the tasks that go into multiple listings. You may go without a paycheck for periods of time because the work is often commission-based. If you don’t sell, you don’t earn anything.
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 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.
Is it worth it to become a real estate agent?
Choosing to become an estate agent is no longer a stop-gap or part-time job, but a real career choice with excellent prospects. It is an option definitely worth considering for graduates and school leavers, especially those with ambition, drive and initiative and who enjoy dealing with people.
Do real estate agents make good money?
According to the Bureau of Labor Statistics, the average real estate agent earns $45,990 each year, but the range in income is massive. One-tenth of real estate agents earned less than $23,000, and 10% earned more than $110,000.
How to Become a Real Estate Agent in New York
To pursue a real estate career in New York City, Buffalo, Rochester, Yonkers, Syracuse, Albany, or any other city in the state, you’ll need to obtain a New York real estate license, which may be obtained by attending a real estate school. It takes 18 years of age and completion of the 75-hour prelicensing education requirement with an approved school before you can apply for a real estate license in New York. You must also find a sponsoring broker, pass the New York Real Estate Salesperson licensing exam, and submit an application for your license.
The following are the five steps to become a licensed real estate agent in New York:
Step 1: Be at Least 18 Years of Age
You must be at least 18 years old, possess a high school diploma or equivalent, and be a citizen of the United States or a lawfully admitted immigrant.
Step 2: Register and Complete the 75 Hours of Required Education
You must finish a 75-hour course that has been authorized by the Department of State in order to be eligible for licensing in this field. Select the Salesperson Licensing Package that is most appropriate for your needs.
View Licensing Packages
As you progress through the process of becoming a licensed real estate salesperson in New York State, you must be sponsored by a professional real estate broker in the state.
Step 4: Schedule and Take the New York Real Estate Salesperson Licensing Exam
In order to earn a New York Real Estate License, you must take and pass the New York Real Estate Exam with a score of at least 70% on the first attempt. To arrange a test, applicants must go to the New York Department of StateOccupational Licensing Management System, where they may also obtain other useful exam information. Finally, make sure you bring a government-issued picture identification with you to the exam. Take advantage of Kaplan’sexam preparationeducation to ensure that you are completely confident on exam day.
Step 5: Apply for Your New York Real Estate Salesperson License
Once you pass the New York Real Estate test, you need to fill out the online application and pay the requisite cost to acquire your license. The New York Real Estate Salesperson Application may be accessed on the New York Department of State Division of Licensing Servicewebsite, or you can complete itonline(see Step 5). (see Step 5).
FREE eBook: Launching Your Real Estate Career
If you could sit down with a room full of accomplished real estate experts and ask them for career guidance, wouldn’t it be fantastic? We asked numerous established real estate professionals what they wished they had known before earning their license and beginning their careers, as well as what they believe all aspiring real estate professionals should know. We received a lot of great responses. We compiled all of their suggestions into a comprehensive eBook that is filled with value. E-book available for free download
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 »
- 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.
- Starting with a 75-clock hour authorized New York Pre-Licensing Salesperson course, you must demonstrate your proficiency in sales. See this page for additional information on your package options. 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 received a 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 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.
- 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 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.
- Prepare for and pass the New York Real Estate Exam
- Choose a sponsoring broker
- Submit the Licensing Application
- Complete 75 hours of approved education
- 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:
- Muscle Pain (new or worsening)
- Headache (new or worsening)
- Sore Throat (new or worsening)
- Or New Loss of Taste New Loss of Smell
- 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.
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|
|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
|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 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.
- 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.
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.
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.
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.
- 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!
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 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?
It costs roughly $500 to receive your real estate license in New York. Some of these expenditures are set, such as the application fee and test fee. Your course prices and exam study materials will vary based upon the businesses you pick.
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|
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.
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:
- Enter your eAccessNY credentials and complete the online application
- 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
- 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.
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).
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.
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.
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…
- Back in the day, before I was in charge of a sales team of 60 agents…
- Actually, I attempted to build a name for myself as an actress in New York City initially.
- Due to the fact that real estate has become so profitable, I have been completely addicted to the transactions.
- 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. Each and every effort it takes to climb over every obstacle in your path to being the person you want to be, realizing your full potential and leaving nothing on the table is well worth 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.
Don’t be concerned, there are lots of brokers searching for fresh agents to join their teams.
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.
- Turn 18
- 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
- Pass the New York real estate salesperson test
- Sell It Like Serhant: New Agent Sales Accelerator Obtain sponsorship from a brokerage firm. Apply for a real estate license in New York
- 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
4 Steps How to Become a Real Estate Agent in New York
It will walk you through the specific procedures you need to do in order to obtain your real estate salesperson’s license in the state of New York in this four-part essay. We’d like to begin by congratulating you for taking the initial steps toward a successful career in the real estate industry.
Reasons to Become an Agent
Obtaining your license entails more than just obtaining the right to drive. salesman in the real estate industry As a salesperson, you will be able to do the following:
- You have complete control over how much money you make. Select the hours that you would want to work
- Not having to report to a superior
- In addition, you may assist folks in finding their dream houses while earning money in the process.
Time and the future will be completely under your control. Some remarks from current RealEstateU students who have recently begun their journey to becoming a salesperson are included below. Real estate has always been a source of fascination for me. I’m attempting to diversify my sources of income as much as I possibly can. Lauren is a small business owner. My favorite aspect of my job is interacting with people, and I would welcome the opportunity to play a vital role in such a life-changing event as the purchase of a home.
MichaelWorks as a Financial Analyst I want to work as a real estate agent and rent out flats in my neighborhood.
This is a profession that I believe would be a perfect fit for me. IvetteWaitress I wanted to be a real estate agent so that I could help others sell their houses. I believe that this is an excellent approach to get some more revenue. Students at College, David
The 4 Steps
The following are the four phases you must complete in order to obtain your real estate license:
- Obtain a 75-hour Pre-Licensing Course recognized by the state
- Pass the final exam at your school
- Pass the State test with flying colors
- Discover and complete the New York State real estate licensing application with the assistance of a sponsored broker
As a result, we will now concentrate on the first stage. However, in the three phases that follow, we will concentrate on passing the School and State tests, as well as completing your license application. Step1
Take State Approved 75-hour Real Estate Pre Licensing Course
Pre-licensing courses are available in two formats: online and in-person.
In Person Course
- A typical in-person course consists of around 20 individual class sessions, each of which lasts approximately 3.5 – 4 hours. If you attend two class sessions each day for a total of ten consecutive days, you may finish the course in ten days, which is the best case scenario. In-person classes provide you with the opportunity to connect with professors and meet other students in person. The disadvantage, however, is that these courses often take far longer to finish and are significantly more expensive. Because you are normally required to adhere to whatever timetable the school provides for the individual class sessions, the average course completion duration is around 8 weeks. The cost might range from $275 and $465. In addition, the State requires a textbook to be purchased in conjunction with the course, which may cost an extra $35 to $50.
- All online real estate courses must be authorized by the state as well as a third-party reviewer known as Arello, who is in charge of checking that the technology utilized in the online course is up to standard. It is possible to complete the course online at your own convenience and pace
- However, this is not recommended. The course is divided into lessons, each of which must be followed by a quiz in order to progress further in the course. The majority of online courses are made up of lessons that are mostly written in text. Reading the course materials in little chunks at a time and taking a quiz to ensure that they comprehend the topic is required of students.
There are two key advantages to doing the necessary 75-hour course online: first, you may complete the course at your own pace, which means you can finish it in as little as one week if you wish. Second, you can save money by not having to go to a classroom. 2:Online courses are generally less expensive. You may discover online courses for as little as $99 up to as much as $200 or $250. Step2:
Pass School’s Final Exam
After finishing the 75-hour course, you must sit for a proctored test, which is mandated by the state. This is the test for the real estate school. There are three extra stages you must complete in order to obtain your license once you have completed the State-approved training course. First and foremost, you must pass the Real Estate School NYC test (which serves as the school’s final exam) in order to get your Certificate of Completion. Second, you must register for and pass the New York State licensing test before moving forward.
- We shall concentrate our efforts in this phase on passing the school’s final test.
- Furthermore, passing most school examinations is actually more difficult than passing the State test.
- IN-CLASS COURSEIf you completed your 75-hour course in-person at a local real estate school, you will be required to sit for the proctored final test at the institution where you completed your course.
- INTERNET-BASED COURSEIf you completed the 75-hour course online, the online school will provide you with a list of proctoring sites from which you can contact and arrange your final examination.
Certificate of Completion
Once you have passed the final test at the school, you will get a certificate of completion from the institution that looks similar to this one. If you attended the course in person, you will most likely get your certificate of completion in the mail within a few days after completing the course. If you completed the course online, you will either receive a paper certificate in the mail or an electronic certificate through email, or both. Obtaining your certificate of completion after passing the school test will allow you to register for the New York State examination.
Obtaining your driver’s license now is a wise decision. At any given time, there are about 1.5 million people in New York State who are interested in renting or purchasing a home. Step3:
Pass the NY State Exam
AccessNY, the state’s ‘Occupational Licensing Management System,’ is required for you to book your New York State Real Estate Exam online, as required by the state. Here is all you need to know about the New York State real estate examination.
- There are 75 multiple-choice questions on the State test, which is based on the curriculum from the 75-hour real estate salesperson training. The State exam is written in English. A passing grade of 70 percent is required. You have 90 minutes to finish the exam
- Else, you will fail.
You must first create a free account with oneAccessNY by clicking here. Once your account has been created, you will be able to book your New York State Real Estate Exam. The exam costs $15 each try, and you can retake it as many times as you need until you pass it successfully. We recommend that you plan your exam at least 2 weeks in advance in New York City and 1 week in advance in the rest of New York in order to ensure that you obtain the time slot and venue of your choice for your exam.
What to bring with you at the exam:
You must have a valid form of government-issued identification. You must also print a copy of your ‘Summary of Submission,’ which you will get after scheduling your NYS Real Estate test on eAccessNY. 3. CalculatorHere is a complete list of all of the items you will need to bring with you to the State Examination. The results of your New York State Real Estate Exam will be posted to your eAccessNY account by the State. Important Recommendation Here’s a crucial piece of advice: RealEstateUrecommends that all students take advantage of this opportunity to significantly improve their chances of passing the State test.
Secondly, we recommend that you go through the glossary at least twice before taking the New York State Real Estate Exam.
If you are able to accomplish this, you will have a very good probability of passing.
Find a Sponsoring Broker and Finalize the Application
You must be sponsored by a certified real estate broker in order to begin selling or renting real estate in the state. As soon as you have passed the State test, you will be one step closer to obtaining your real estate license and beginning a fulfilling career as a real estate salesman. The next steps will cover how to select a sponsoring broker as well as how to complete your New York State Real Estate Salesperson Application. Here is a list of the many sorts of brokers with whom you can collaborate.
Rentals are a fantastic way to get your foot in the door as a salesperson. The reason for this is because renting is less complex than buying a property, and you can conclude the deal far more quickly. You may earn your first commission in less than a month if you start with rentals as a starting point.
Residential sales need more effort and time than rental transactions, but the commissions are often substantially greater in residential sales. The practice of a broker handling both sales and rentals in-house is rather prevalent these days.
Commercial sales comprise any residential real estate with more than four units, which is generally referred to as apartment buildings or multi-family residences, among other things.
These sorts of sales are more specialized than single-family home sales and need more knowledge; yet, the commissions earned on these types of transactions frequently surpass $100,000.
Office and retail space are among the types of commercial leases that are available. These sorts of transactions, like commercial sales, need more time and skill, but the rewards can be quite lucrative.
You should also be informed of the way commissions are distributed between the broker and the salesperson in order to avoid confusion. In the state of New York, the typical sales commission is six percent (6 percent). A common practice is for the 6 percent commission to be shared 50/50 between the buyer’s broker and the seller’s broker in a transaction. The remainder of the commission will be shared between you and your sponsored broker, with the remainder going to you as the salesman. The proportion you divide with your broker, on the other hand, is determined by the agreement you have with the broker.
70/30 Other brokers may offer you a 70/30 split from the get-go as an incentive to work for them and keep your business.
The end result is that you must locate a broker who shares your objectives as a sales professional.
Once you’ve identified a sponsoring broker, you’ll be able to proceed with the rest of your real estate salesperson application.
- Simply log in and enter the license number of the broker who is sponsoring you. Fill out the form with your required personal information. Indicate which school you attended to complete your 75-hour real estate salesperson training course. Paying the $50 application fee with a credit card is recommended. And then hit the “submit” button.
Once this is completed, your sponsoring broker must go into their eAccessNY account and allow your application to be submitted. Congratulations! You are now formally recognized as a real estate salesperson. If you want to find out which states enable students to receive their salesperson license by completing an online course, please visit this page: Online Salesperson License.
If you are ready to begin the exciting road towards being a real estate salesman, then register with us right away! For your own benefit, you can take the course and determine whether or not it is right for you. And don’t worry, if you don’t enjoy the course, we’ll refund your money in full within 30 days, no questions asked. Act now while the opportunity still exists. Start Your Real Estate Career Today!