If you’d like to become a real estate agent in New York, it helps to understand everything involved before you start the process. Here, we’ll cover the benefits of the profession as well as everything that is required to receive your license.
There are a number of steps in the New York real estate licensing process, so we’ve broken it down to keep things simple. To get your license, you will need to:
Step 1: Complete Pre-License Education
Step 2: Pass the Course Final Exam
Step 3: Register for the New York Real Estate Exam
Step 4: Pass the New York Real Estate Exam
Step 5: Secure a Sponsoring agent
Step 6: Submit a Real Estate License Application
Before we move on to the steps to get your license, consider if becoming a New York real estate agent is right for you.
The Benefits of Working as an New York Real Estate agent
At salary.com, the average salary for a real estate agent in New York is listed as $46,653 to $60,745 per year. This varies depending on your commission percentage, the number of homes you sell, if you have any caps, what your split is with your agent, and the value of the homes sold.
In New York, the average price of a home is $379,000. Real estate agents often make 6% commission on sales, which would be $22,740.
Salary aside, becoming a real estate agent includes these other benefits:
- Flexibility in your schedule
- Unlimited income potential
- Career mobility
- Helping people
- Familiarity with your community and neighborhoods
- Varying environments and tasks
If this sounds like a good fit for you, these are the things you should consider next.
Do You Prequalify?
To prequalify as an New York real estate agent you need to:
- Be at least 18-years old
- Have no prior felony or sex offense convictions.
1. Complete Pre-License Education
To qualify as a real estate agent in New York, you need to complete a Department of State approved 75-hour pre-license education course. The course can be taken in a live classroom or online, as long as it’s on the approved list of schools. You can find some course options on the Department of State website.
If you have a university degree with a major course study in real estate, or have a current real estate license from another state and are seeking licensure in New York, see the Department of State Division of Licensing website for the education and examination requirements in your specific case.
The pre-licensing education covers these (and other) topics:
- Licensing laws
- Real estate practice
- Forms of ownership, transfer, and recording of title
- Financing and settlement
2. Pass the course final exam
At the end of your course you will need to take a final course exam. You need to get a score of at least 70% to pass. In New York, the course completion is valid for 8 years, and will need to be used to obtain a license within that time.
3. Register For the New York Real Estate Licensing Exam
You need to apply online to take the Real Estate Licensing exam in New York. To do this you first need to create an eAccessNY account. You will use this account to schedule your exam, view the exam details, and view your results.
For more information on how to do this, visit the dos.ny.gov website. For exam locations, you can see this page here.
4. Pass the New York Real Estate Licensing Exam
On the day of the exam, you will need to bring:
- One (1) form of photo ID
- The “Summary of Your Submission” page – this is the page you are requested to print when you schedule your exam on eAccessNY. It provides your exam information, including your candidate number.
Once you’re in the exam site, you will need to place all electronic devices, bulky clothing, and other personal items in a secure location. You will then sit at a computer to take the test.
The exam has to be completed in 1.5 hours, and the questions are divided into two parts: general and state law. The exam is scored as either a pass or fail; there is no numerical score. The results are valid for two years, so you will need to complete your license application within that time.
Your exam results will be available online through your eAccessNY account, shortly after you take the exam. If you pass, you should apply for your license through your eAccessNY account.
Some of the topics covered in the exam are:
- Real estate practice
- Property ownership
- Leasing and property management
- Transfer of title
- Valuation and market analysis
- Real estate calculations
5. Secure a Sponsoring Broker
To become a licensed and practicing real estate agent in New York, you need to be associated with a registered brokerage firm or broker. Before submitting your application, you’ll need to have secured this sponsorship. It’s important to choose the right broker, as they’ll play a key role in growing your real estate career.
Consider the following when choosing a managing agent to work with:
- Their reputation as a agent or agentage firm
- The types of agents they look for
- If they provide education and training for agents
- If they provide marketing materials and potential leads
- Which systems they use
- The benefits they offer
- What is their commission structure?
- What is the growth potential?
6. Submit a Real Estate License Application
Upon completing and passing your exam at the testing center and securing a sponsoring broker, you can submit your application through your eAccessNY.
Once you’ve completed all of these steps successfully, you will receive your New York Real Estate agent License by mail. At this point, you might want to consider if you’re interested in becoming a Realtor. Here’s what this means:
Real Estate Agent vs Realtor: What’s the difference?
For a real estate agent to become a Realtor, they need to become a member of the National Association of Realtors®. The NAR is an organization for real estate agents and other industry professionals. Members are required to subscribe to standards and a code of ethics set by the association. Membership offers access to market data and transaction management services, and other benefits.
To become a part of this community, these are the steps you need to take:
- Get your state real estate license
- Join your local REALTORS® Association – find one close to you with their “find an association” tool
- Pay the application fee – this varies by association
- Maintain membership dues – to keep your title of REALTOR®, you need to pay an annual fee of $150
Become a top Real Estate Agent!
Now that you’re a Real Estate Agent. You’ll need a website to show off your listings, attract buyers and sellers and if your ambitious get real estate coaching or digital marketing from some of the best in the field. Reach out to us at RE Digital to learn how we can help you become a top performer.
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