Thursday, November 24, 2022

How To Become Real Estate Agent In New York

Consider Becoming A Realtor

How To Become A Real Estate Agent in New York!

In order to become a full-fledged Realtor®a licensed agent with the ability to use that widely respected titleyou need to be a member of the National Association of Realtors®. No exceptions. So whats the advantage?

Membership in the NAR offers a number of benefits, including access to real estate market data, discounts on education courses, and transaction management services. And being able to use Realtor on your business card and your marketing materials also adds credibility.

How Long Does It Take To Become A Real Estate Agent In New York

That, my friend, is a question for you. How long do you want it to take?

If youve read my book, Sell it Like Serhant, you know Im a believer in initiative. In fact, initiative is my favorite word.

In other words, do it now. If you feel like your back is up against a wall, use that as your driving force. Let that wall motivate you to get your New York real estate license faster.

If you feel fenced in, remember, you have the ability to take that fence down. Or hurl yourself over it. Its worth every effort it takes to climb over every fence in your way to become the you that you want to be, achieving your full potential with nothing left on the table.

Become A Real Estate Broker

Becoming an associate broker or broker requires both industry experience and education, plus the passage of the New York State Brokers exam. Attorneys admitted to the bar in NYS are exempt from the educational exam and experience requirements but must submit an application.

Associate broker and broker applicants must:

  • Have two years of experience as a licensed real estate salesperson or three years of experience in the general real estate field.
  • Complete 120 hours of instruction through the 75-hour Salespersons Qualifying Course and the 45-hour Brokers Qualifying Course.
  • Register to take the brokers licensing exam through the Department of State, Division of Licensing.
  • Pass the licensing exam.

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Why So Many People Became Real Estate Agents In The Pandemic

The industry is drawing workers while nearly every other job sector has struggled with hiring. As few as 10 percent of them will last long enough to make a full-time living selling homes.

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By Candace Jackson

In March 2020 when the pandemic hit, the restaurant where Amy Bieganek was working as a waitress announced a temporary closure. By August, it turned into a permanent one.

Unemployment was a shock for Ms. Bieganek, 53, who had been working in the Minneapolis restaurant industry for 30 years. That was heartbreaking, she said. Being in the restaurant industry, I never thought I would be out of a job ever.

She thought it might be time to explore a new career.

After talking to a friend who is a real estate agent, Ms. Bieganek signed up for classes. In February 2021 she got her real estate license.

From burned-out health care workers to parents looking for flexible careers during remote schooling to laid-off sales executives taking their skills to cash in on a booming market, real estate has drawn an abundance of workers while nearly every other industry has struggled with hiring. In 2021, there were a record number of real estate agents in the United States, according to the National Association of Realtors. More than 156,000 people joined their ranks in 2021 and 2020 combined nearly 60 percent more than did in the two years prior.

Maintain The Real Estate License

How to Become a Real Estate Broker in New York? (course

You are required to renew your real estate license every two years. Once again, you can do so through the online services, eAccessNY.

Furthermore, you must complete 22.5 hours of continuing education for each renewal term. This is to ensure that you are keeping up to date with the real estate laws, regulations, and best business practices.

Keep in mind that there is no grace period where you could continue working without being licensed. So, dont leave the renewal until the last minute.

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Select A Sponsoring Broker

To be licensed, you need to be sponsored by a current and active New York broker. It’s important to find the right broker to work with, since this person will serve as your mentor as you start your new career in real estate.

Here are some questions to consider during your search:

  • What is their reputation, both locally and nationally?
  • What kind of real estate agents are they looking for?
  • Are they technologically advanced and up-to-date with the latest systems?
  • How do they support their agents with education and training?
  • What kind of commission structure do they offer?
  • Do they offer benefits?
  • Do they provide their agents with leads and marketing material?
  • Is there room to grow with the brokerage?
  • Real Estate Agent License

    Becoming a real estate agent can be a lucrative and fulfilling career choice.

    In 2018, the median U.S. real estate agent salary was $48,690, but in some cities, they made much more. In Midland, Texas and New York City, for example, agent earnings could easily top $100,000. Since 2012, earnings overall have been on the rise.

    So, how does one go about getting a real estate agent license? As it turns out, it’s a mixture of education and certification, the specific requirements of which vary by state. The best place to go to find out your state’s guidelines is the Association of Real Estate License Law Officials , which has links to each state’s real estate licensing board or commission. What follows is more general information of what you need to get a real estate license.

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    Passing The Licensing Exam

    Once you have completed your course, you’ll have to sit for — and pass — a state licensing exam. There will be a fee to sit this exam that’s in addition to the fees you paid for your coursework. Generally, the exam consists of multiple-choice questions that cover federal real estate law, general real estate principles, and state law. Not everyone will pass the licensing exam the first time. Usually, you can rewrite the exam within a certain time frame — for example, two years — before retaking the pre-licensing course.

    Get Sponsorship By A Licensed Ny Real Estate Broker

    How to become a Real Estate Agent (in NYC)

    You are one step closer to becoming a real estate agent. After you pass the exam, you must work with an active real estate broker who would sponsor your license.

    But dont rush into working for just any broker. Finding a good mentor is crucial at the initial stage of your real estate career. It helps to shape your business practice in the long run.

    When choosing a real estate brokerage, many people only overfocus on the commission split. But they neglect other essential factors in building a solid fundamental to their real estate business.

    For example, what type of training will the brokerage provide? Will they equip you with the skills to find qualified prospects and closing a sale? Is there a shared office space you could use? Can the brokerage provide you with adequate administrative and marketing support? Will they provide you with business leads? Do they utilize up-to-date technology to streamline the daily workflow?

    I will also include the Top New York Real Estate Brokerages later in this post.

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    Real Estate Agent Education: Pre

    You will have to take a course in different subject areas relevant to your work as a real estate agent. These course requirements are set by the state licensing body. Using Ohio again as an example, the requirements are a total of 120 hours of coursework, including 40 hours of Real Estate Principles 40 hours of Ohio Real Estate Law 20 hours of Real Estate Appraisal and 20 hours of Real Estate Finance.

    You may take your coursework online or in-class, but not every educational program will qualify as a real estate license course. For example, Ohio has rules about the type of institution whose courses count towards the pre-licensing requirement.

    Which States Have Ny Real Estate License Reciprocity

    The following are states that share real estate reciprocity with New York State. Arkansas, Colorado, Connecticut, Georgia, Massachusetts, Mississippi, Oklahoma, Pennsylvania, West Virginia

    The New York Real Estate reciprocity agreements between each of these states vary. For more information on state agreements, please follow the link –

    All need current certification , completed application, irrevocable consent form, and the appropriate fee.

    Applicants seeking a reciprocal real estate salesperson’s license must be sponsored by their home-state broker who must hold a current New York State broker’s license.

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    Meet The Legal Requirements For Your New York Real Estate License

    In order to become a real estate agent, you must first qualify for a license in the Empire State. To do this, you must be at least 18 years old and possess a high school diploma or GED. It is worth noting that you do not have to live in the state of New York, but you must be a U.S. citizen or lawfully admitted alien and have an approved form of identification.

    Native New Yorkers who possess a valid drivers license within the state are all set, but those who dont drive, or are commuting from another state, have the option of getting a non-drivers identification card to meet this requirement. Getting your non-drivers identification card requires the same process as getting your drivers license in any stateminus the drivers test. You can make an appointment at the Department of Motor Vehicles and bring proper identification to obtain it.

    Note: If youve been found guilty of a felony or sex offense, it will be difficult to get your New York real estate license. However, if you have only one felony on your record, you can apply for a Certificate of Relief from Disabilities through the court to remove certain collateral consequences from your record. If youve had more than one felony, you can apply for the Certificate of Good Conduct to see if you can move forward with real estate licensing. Once these documents have been submitted, the New York Department of State will determine if you are eligible for licensure.

    Being A Real Estate Agentbeing A Real Estate Agent

    Becoming A Real Estate Agent in New York State

    The most challenging part is making it as a real estate agent. Expect some significant start-up fees , working five, six, or seven days a week without a guaranteed income, and dealing with sometimes flaky and challenging clients. In addition, the closing can take four or so months after an accepted offer in NYC, so be prepared to wait a while before you can pick up your first commission check.

    Being a real estate agent is like owning your own business. If the baker does not show up at 5 am there would be no bread to sell. You must stay committed, focused and persistent in building your career. Passion, hard work and customer service are the key components for long term success. Education is your greatest asset, never stop learning to stay ahead of your competition.

    Gea Elika, Principal, Elika Real Estate

    Becoming a real estate agent is something you learn on the job. The job is where you will get the experience and feel for it. Your training course may have schooled you in the theory of it. Good coaching and mentoring are a must in your first year. When starting, this should be a top priority when choosing a brokerage.

    Lastly, make friends. For real estate agents, contacts are everything, so put yourself out there. Be aware that everyone you meet is potentially helpful in later years. Even top real estate agents with years in the business still have mentors they look up to. The same goes for attorneys, contractors, and architects youre sure to meet along the road.

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    Complete 75 Hours Of Required Education

    Every prospective real estate agent must complete a state-approved, 75-hour pre-licensing course to begin down this career path.

    Industry-leading exam pass rates from a team of the best from NASA, Harvard, and MIT, AceableAgent is Legit!

    • Pre-Licensing Courses

    This coursework is required to prepare you for the education and training that is to come, including the final real estate licensing exam. This is also an ideal way to determine if becoming a real estate agent in NY is the route for you.

    Does the material excite you or are you bored to tears? Do you look forward to learning more every day or do you dread the homework, studying and tests? You might find that while the idea of working in real estate appealed to you, the hands-on application of it is less thrilling.

    Or, you may soar in this space. You may excel in the discussions, answer questions with ease and soak up the new knowledge like a sponge. You wont know until youre in the learning environment.

    Additional Resources For Succeeding In Real Estate

    Let us help you succeed in your new real estate career. Get advice from those who have done it before with our ultimate guide on how to get a real estate license. Also, consider joining our Real Estate Agents Mastermind Group on Facebook to get answers to your specific questions from seasoned agents.

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    Commercial And Investment Real Estate

    Certificate

    Successful completion of all segments is required for certification. Graduates will receive a certificate of completion and be recognized as Commercial and Investment Real Estate Certified agents. Approved for 22.5 hrs. of CE for Salespersons and Brokers and includes the mandatory 3 hrs. of Fair Housing/Discrimination, 2.5 hrs. of Ethics and 1 hr. Law of Agency training for license renewal.

    CE-REAL 2071, 3 Fri., July 8-22, 9:00 am-5:30 pm , $362. E Smith. #7006

    How Much Does It Cost To Get A New York Real Estate License

    How to become a Real Estate Agent in NYC

    Again, the exact cost will depend on you, but overall, New York State is one of the few places where it’s possible to get a license for less than $200.

    The exam fee in New York is a very reasonable $15 per attempt, and the application fee is $55 much lower than many states. As of this article’s publishing date, there are no “hidden” fees in the process, but states change rules all the time, so check with NYSDOS for the current fee schedule.

    The biggest x-factor is your pre-license coursework and exam preparation. These costs will vary by program and course type. Classroom-style programs are more expensive than online courses. Additionally, you’ll need to decide whether you want to only pay for the required coursework or whether you want to spring for exam preparation and practice, as well.

    You can get reputable online NYSDOS-approved pre-license coursework from us for as low as $99. Some in-person programs will be $300 or more. You may also need to pay a $25 final exam proctoring fee.

    Keep in mind, there are other startup costs for getting your business off the ground.

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    New York Real Estate Licensing Faqs

    There are several costs and fees you need to pay to obtain a real estate license in New York:

    • The New York state exam fee is $15
    • The real estate license application fee is $50
    • Online courses cost anywhere between $99 and $250, depending on the provider you choose.

    So, in total, the license would cost you anywhere between $165 to $315.

    Do You Have More Questions

    Please contact us. Our friendly support team are available 7 days a week, and are happy to help you.

    If we can assist you with Technical Support, General License Inquiries or Questions about Course Material please contact us.

    Questions about course material: An instructor is available 7 days a week, 9 am – 7 pm

    Technical Support or any other questions: Our office staff are available 7 days a week, 9 am – 7 pm

    *Except Major Holidays

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    How Do I Apply For My New York Real Estate License

    Most applicants can use the online application on eAccessNY. Only a few select groups need to use the paper application.

    You need to apply in the two-year window after you pass your license exam to avoid a retake. You’ll also need a valid pre-license course certificate issued within the last 8 years.

    They’ll require proof of an acceptable form of ID for most people, this will just involve entering your 9-digit DMV ID into the form. Most people pay the application fee by credit card, but you can also pay by check or money order.

    Finally, your broker will need to log into the portal and enter their information certifying themselves as your sponsor.

    Get Sponsorship From A Licensed Ny Real Estate Broker

    Guide to Become a Real Estate Agent in New York

    Your sponsoring broker guides you through your first year as an agent. Pick someone you like spending time with. Choose a broker that inspires you, and choose one that runs his or her own team. My #1 mistake starting out was not joining a team. Now, I encourage everyone to start with the right broker and the right team.

    How do you find the right broker? Go to open houses, ask around, and see who you like on social media. Some brokers will actually recruit YOU right when you walk out of the testing center.

    Dont worry, there are plenty of brokers out there looking for new agents. The key is finding the one YOU like, not the other way around.

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