Tuesday, April 23, 2024

How To Get Your New York State Real Estate License

Contact Important Update For Course Providers Re Remote Learning

How to get your New York State real estate license!

NEW: Effective December 7, 2021, new regulations allow schools already approved by the department to offer qualifying and continuing education courses virtually via live remote programs. Live distance education means providing instruction, in real-time, where the approved instructor and student are physically separated but the education program utilizes remote technology to allow each person to view and communicate with each other in a live and interactive manner that transmits simultaneous live audio and video. Approved providers, at their choosing and subject to reasonable restrictions, may now offer live distance education courses after approval by the department.

How Do I Become A New York Real Estate Broker

To qualify for licensure to become a real estate broker in NY, a candidate must have at least two years of experience as a licensed real estate salesperson or at least three years of experience in the general real estate field. Candidates must also complete the 75-hour salesperson education requirement and the 45-hour broker education requirement. Upon course completion, the candidate must pass the real estate broker qualifying exam administered by the NY Department of State.

If I Have A Past Felony Is There Any Way To Get A New York Real Estate License

Answer: It depends. You may be able to apply for a Certificate of Relief From Disabilities if you have one prior felony or a Certificate of Good Conduct if you have two or more felony convictions. If you receive one of these certificates from the Department of Corrections and Community Supervision, you can apply for a real estate license in New York.

Your license could still be denied if you have a certificate, but there is a chance you could be approved. If you are convicted of a felony while you are licensed, you will need to inform the New York Department of State, and your license will be revoked.

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Why Do I Need A Sponsoring Broker

“Salesperson” is the beginner’s real estate license in New York. All New York real estate salespersons need to “hang” their license on a more experienced professional that has a broker’s license. You’ll work under your sponsoring broker as an independent contractor.

NYSDOS won’t issue your license without a sponsoring broker, but there’s also a practical element. There are certain things, like handling escrow money, that a salesperson isn’t legally allowed to do.

Take 75 Hour Course And Pass The Course Exam

Real Estate License in NYS Albany
  • Successfully complete 75 hours of a New York State Department of State approved Salespersons Licensing Course
  • Pass the required course exam with a minimum score of 70%
  • There is a requirement of a minimum of 90% course hour attendance, which means you may only miss 7.5 hours of class
  • Students are responsible for learning material covered during an absence

More information on licensing courses offered at GRAR.

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Apply For Your New York Real Estate Salesperson License

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 .

Finding A Course Provider

You can choose from myriad of educational providers when it comes to completing these 75 hours. Youll just need to make sure the course you select is approved by the New York Department of State .

If you work full-time, you may opt for a program that offers online courses so you can complete the requirements at your own pace. Or, in-person lectures may work best for your schedule. There may also be providers that offer a hybrid of both, so do your research.

Lets review how each will function.

In-Person Real Estate Pre-Licensing Courses

An in-person pre-licensing course will take place at a local New York real estate school. In most cases, it will consist of around 20 classroom sessions. Expect to spend around four hours in each class.

If youre pressed for time or want to get through this part of the process quicker, you may be able to complete this step in 10 days by taking two classes per day. Yet, keep in mind this can cut into your schedule and also puts you on the road more than you may prefer.

If you go this route, you can interact in-person with your instructors and peers. While this is a perk, it doesnt come without its costs, as these courses are normally more expensive and take longer to complete.

The cost alone can range from around $325 to more than $450, which doesnt include the price of the required textbook, which can run around $40 to $50.

Online Real Estate Pre-Licensing Courses

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Complete Fingerprinting And Background Check Requirements

You will need to complete some additional requirements so that the New York Department of State knows that you dont have any criminal history. It is important that they verify your identity to avoid any money or property-related crimes.

Your coursework will include information on where to complete this requirement. A third party will run the fingerprints and background check and submit the results before you can receive your New York real estate license.

Connect With A Sponsoring Broker

How to Get a New York Real Estate License

Congratulations! You completed the training and passed the state exam. Now, youre ready to start selling or renting real estate in New York. Your next step is to find a licensed broker that will sponsor you to do so.

In general, there are four kinds of brokers that you can partner with. Lets take a look at each.

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Pass Salesperson Licensing Exam

To convince the New York board that you should obtain a New York Real Estate License, you must pass the New York Real Estate Exam with at least a 70%. Your exams will be scheduled with the New York Department of State Occupational Licensing Management System. Whew, thats a mouthful.

The test is multiple-choice, and you have a time frame of ninety minutes to complete the exam. There are 75 total questions, and you must answer 70% correctly. The exam is also provided in four additional languages: Spanish, Korean, Russian, and Chinese. If the test result is a passing score, its valid for two years. If the result is not a passing score, dont worry you can retake it.

Set aside $15 as well for the states exam fees.

What Happens If I Do Not Renew My New York Broker License

You have two years from the date your license is active before it expires and you must renew. If you do not renew your expired New York real estate brokers license, you cannot, by law, conduct any real estate activities. There is no grace period. If you do not renew within that period of time, you will be required to pass the exam again and submit a new application, as well as pay the requisite fee.

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New York State Educational Requirements To Obtain A Real Estate License

There are a couple of different ways for one to take the needed class. For instance, an individual can enroll at a traditional classroom-based real estate school. Then, they will have to show up at the location in the evenings, Saturdays, or whenever the course is scheduled. A lot of people dont like this aspect as it doesnt mesh with their work or personal life timetable. Thus, many, many folks are deciding to do their schooling via the world wide web. This action allows them to learn at their own pace and prevents them from having to be cooped up in a room with strangers all day.

New York Real Estate Requirements

Nyc Home Improvement Contractor License Practice Exam

There are requirements that an individual must meet ahead of partaking in real estate activities in New York. Well, that is to legally do the deeds anyway. Hence, if you are interested in getting into the business, youll need to know about applicant obligations such as

Having A State-Issued Identification Being At Least 18-Years Of Age Completing A 75-Hour Approved Course Passing The Real Estate Exam And Getting Sponsored By A Licensed Broker

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Is A New York Broker License Worth Pursuing

Weve outlined how to get your New York real estate broker license, but maybe youre wondering if getting it is worth the trouble. Well discuss this and answer frequently asked questions about the time commitment, level of difficulty, and financial rewards of pursuing a New York real estate broker license below. If you have more questions, please drop them in the comments section.

How Much Is The Nys Real Estate Exam

The NYS Real Estate Examination Fee is $15.

New York State provides and administers the NYS Real Estate exam. You must pass the exam prior to applying for a NY real estate salesperson license. The exam consists of 75 multiple-choice questions. You must pass with a grade of 70% or higher. You have 1.5 hours to complete the exam.

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Get Your New York State Real Estate License

Youve read the statistics and youve watched the news. You know that New York is a bustling state full of real estate potential, and youre ready to tap into that opportunity.

Yet, taking a look at the steps required to obtain your New York state real estate license can be more than daunting, even for the most career-minded. Chances are, you have a job, schoolwork or other commitments that are tugging at your time.

You want to succeed with a career in real estate and youre ready to get started.

Thats where AceableAgent comes in!

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  • Pre-Licensing Courses

How To Get Your New York State Real Estate License In Five Steps

Getting your New York Real Estate License || STEP by STEP Guide and Requirements!

Real EstateApproved Course is reader-supported. If you buy through links on our site, we may earn a small commission.

With a New York real estate license, agents can make upward of $55,000 per year or more. Does this earning potential appeal to you?

Not only can you bring in a great income with a career in real estate, but youll also have a front-row seat to some of the biggest moments in your clients lives.

Its for these reasons that this job often ranks among the most fulfilling jobs in the country, with 75% of agents saying theyre fulfilled in their role.

If you live in the Empire State, you may be wondering how you can get into this field. Whether youre a recent graduate just entering the job field or someone whos climbed the ladder for years in a different industry, real estate is a niche that anyone with the right know-how can succeed in.

Today, were breaking down the basics of how to get your New York state real estate license. The best part? You can do it in five easy steps, starting today.

Ready to learn more? Lets get into it!

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How Much Continuing Education Do I Need As A New York Real Estate Licensee

Every New York salesperson must complete 22.5 hours of real estate instruction approved by the New York State Board of Real Estate. New York CE credits must be completed every two-year license renewal period. Brokers in New York are also required to complete 22.5 hours of Continuing Education every two-year license renewal period.

Find A Sponsoring Broker

Pay attention, this part is really important.

To be able to practice real estate in New York, you need to work under a licensed broker. Real estate agents who also work under that broker can help you on your journey.

Some things to note about your brokerage: they can help you make important connections. Theyll often times have the tools and technology that will introduce you to your first clients and teach you the rules of the business. It is also possible to become a broker after working as an agent for two years.

You have total freedom to choose your sponsoring broker. Heres some things agents look at when choosing a brokerage:

  • Commission Rate
  • Look at each brokerages commission rate when youre shopping around. If theyve got a good rate, your commission checks will be larger than life.
  • Maybe you want a brokerage that focuses on a niche on a location or a specific category of real estate like commercial retail, single family homes, or fixer-uppers. So if you have a specific interest you can find a broker who shares that interest.
  • Maybe the companys culture is important to you. If so, get to know what theyre all about, how they work, and whats important to them.
  • Thats all just to say that you have the freedom to choose a brokerage that fits you.

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    Complete Required Prelicensing Courses & School Exam

    Once youve met the states legal requirements, you will have to begin your accredited prelicensing courses either in-person or at an online real estate school in New York, a cost that ranges from $149 to $495. The 75-hour NYDOS approved real estate salesperson qualifying courses include:

    • Basic Principles of Real Estate
    • Commercial and Investment Properties
    • Human Rights and Fair Housing
    • Environmental Issues
    • Condominiums and Cooperatives

    Did you know? If you are an attorney currently admitted to the New York State bar, you already qualify for licensure. Also, the NYDOS may waive your 75-hour education requirement if you hold a Bachelors degree with a concentration in real estate or have completed similar prelicensing courses in another state. If this applies to you, mail your official transcript or original Certificate of Course Completion from a recognized real estate school along with a letter requesting waiver of the education requirements to the NYDOS.

    Prelicensing courses arent considered complete until you pass a school exam. This is separate from the New York real estate license exam, but you will be required to take and pass it in order to continue on to the next step in the licensing process. The school exam will be administered by your education provider either in-person or proctored online and requires a 70% pass rating. Once youve passed your school exam, you will receive a Certificate of Completion to signify your completed 75 hours of education.

    Receive Your Real Estate Salesperson License

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    Once you find a sponsoring broker that meets your needs, youre ready to finalize your NY real estate salesperson application.

    Using the same eAccessNY account you created to take your final exam, log on to complete this process by following these steps:

    • Upon login, enter your sponsoring brokers licensing number
    • Provide the required personal information
    • Enter the name of the school where you completed your 75-hour training course
    • Pay the $50 application fee with a credit card

    From there, your sponsoring broker will log into their own eAccessNY account to confirm and authorize your application.

    Once these steps are finished, the NYDOS will receive and review your online application. If youre approved, youll receive your real estate license at your business address.

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    Which Online Real Estate Course Is The Best

    You must ensure that your NY Real Estate course has been accredited by the DOS, so that it meets New York real estate license requirements. must meet educational requirements, and be a total of 75 hours duration. The NY Real estate salesperson course must include your end of course real estate examination, and the real estate school must provide proof of completion to meet New York real estate license requirements.

    Dre Criteria To Get A Real Estate License

    What the heck is DRE and why do I need to impress them?! Well, DRE is short for the New York Department of Real Estate and its their job to make sure all agents in NY are capable, qualified, and can lawfully work in the state. To do so, they have some basic criteria you must meet. Luckily, most of the requirements are pretty straightforward.

    These requirements are:

    • Be at least 18 years old
    • Have a high school diploma or hold a GED certificate
    • Have a current New York photo drivers license or non-driver ID card

    You probably know this step where you have to be old enough, hold reasonable education, and ensure that your ID is up to date before submitting. So, no worries because this is by far the easiest step in the licensing process.

    If you have any criminal convictions, you must disclose them on your application. A conviction may or may not disqualify you depending on the crime. However, failure to disclose a conviction, even for a minor offense, is grounds for immediate denial of your application. So just make sure to be honest and upfront, so you dont waste your time.

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    Complete 75 Hours Of Approved Pre

    To start, you must successfully complete an approved 75 clock-hour NY Pre-Licensing Salesperson course. Learn more about your package options here.

    If you have received a degree from a university with a major course of study in real estate, or have a current license in another jurisdiction but are seeking licensure in New York, please see the Department of State Division of Licensing website for the education and examination requirements in detail for your specific situation.

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