If you want to buy and sell real estate in New York, you will need a license, whether you want to be a real estate agent or broker. To become an agent or a broker, you must be at least 18 years old, undergo specific real estate coursework, pass a test (or two, depending on the license), and submit to a criminal background check.
Which type of license is best for you? A real estate agent and a real estate broker differ mostly in terms of years of experience and education. For starters, an agent must work under the supervision of a certified broker, whereas brokers can work for themselves and/or recruit agents. In order to become a broker in New York, you must complete extra courses and work as an agent for at least two years.
Obtaining your New York real estate license may be difficult, but we’re here to help you every step if you don’t know how to become a real estate agent in New York. Reading to discover the five steps you’ll need to do before beginning your real estate professional in New York.
What are NY real estate license requirements?
In New York, there are two types of licenses, and the requirements differ based on which one you have. In New York, for example, a real estate agent (sometimes known as a “salesperson”) is allowed to handle real estate transactions but must operate under the supervision of a certified broker. A broker, on the other hand, can run their own company and hire other agents to help them out.
License requirements for agents:
- You must be 18 years old or older to register
- Must either hold a four-year college degree in real estate or have completed 75 hours of real estate courses from an approved source (valid for eight years from the date finished)
- A final test must be passed
- Fingerprinting and a background check are required
- A broker’s sponsorship is required.
License requirements for brokers:
- To apply, you must be at least 20 years old
- Working as an agent for at least two years or three years in general real estate is required
- A four-year college degree in real estate or 120 hours of real estate study from an approved source is required
- A final test must be passed
- Fingerprinting and a background check are required.
A word about background checks: On your application for either agent or broker, you must state any criminal convictions. A conviction may or may not disqualify you depending on the crime. Failure to report a conviction, even for a minor violation, will result in your application being denied right away.
How do I get my NY real estate license? – 5 Steps
To obtain a New York Real Estate Salesperson License, you must complete the following procedures, according to the New York Department of State (NYDOS).
Step 1: Complete 75 hours of pre-licensing education that has been approved
To begin, you must finish a 75-hour NY Pre-Licensing Salesperson course that has been approved.
If you hold a bachelor’s degree in real estate from a university or a current license in another state but want to work in New York, please visit the Department of State’s Division of Licensing website to learn more about the education and test requirements for your circumstance.
Step 2: Pass the final test for the course
There is a course final test when you have completed all of the course materials. 70 percent is the minimum passing mark. Completion certificates are valid for eight years and must be utilized to earn a license; otherwise, they will expire and must be retaken.
Once you have applied one of these courses to a license, it won’t expire and may be used to upgrade.
Because you must take the final test in the presence of a proctor, you must make an appointment with a proctor ahead of time.
Step 3: Pass the real estate salesperson test in New York
This multiple-choice test, based on the 75-hour Pre-Licensing program, will take 1.5 hours to complete.
If you need assistance passing your New York real estate test, we also provide the materials for you to take our free Real Estate practice exam and gain the needed knowledge and skills.
Step 4: Choose a sponsoring broker
You must be sponsored by a current and active New York broker to obtain a license. Finding the appropriate broker to work with is crucial because this individual will act as your mentor as you begin your new career in real estate.
Here are some questions to think about as you begin your search:
- What is their local and national reputation like?
- What type of real estate agents do they require?
- Are they technologically savvy and have the most up-to-date systems?
- How do they provide education and training to their agents?
- Is there a commission structure available?
- Do they provide any benefits?
- Do they provide leads and marketing materials to their agents?
- Is there room for the brokerage to broaden?
Step 5: Fill out the application for a real estate license
Complete your application using eAccessNY after passing the New York Salesperson Real Estate test and finding a sponsoring broker.
FAQs – How to become a real estate agent in New York
How long does it take to get your real estate license in NY?
In New York, becoming a real estate agent at the salesperson level is estimated to take four to six months from start to finish.
Because of the extra requirements, the route to becoming a broker may take a bit longer: 120 hours of real estate coursework (rather than the 75 hours necessary to become an agent), as well as two years as an agent or three years in the broader real estate business. Real estate agents in New York are among the best paid in the country, with an average yearly pay of $87,938.
Read more>> How Long Does It Take To Get Real Estate License?
How much does it cost to get a real estate license in NY?
In New York, being a real estate agent is not excessively costly. Once everything is done, an aspiring agent will spend between $500 and $1,000 to get their license, whilst a broker would pay between $950 and $1,450 to get their license.
The costs are broken down as follows:
- Pre-licensing exam education for agents can cost anywhere from $379 and $909
- Brokers should budget approximately $349 for the additional education hours, however, there are certain exceptions if you’ve taken qualifying college courses for both licenses
- A broker application will set you back $155, while an agent application will set you back $55
- Every two years, the same amounts of renewal costs are imposed
- Both licenses have exam costs of $15.9 each
- Both licenses need fingerprinting, which costs $50.10 each.
Other expenses for association memberships, office space, additional training, and requesting exceptions from specific regulations may apply.
Can I use my NY real estate license in other states?
Arkansas (broker alone), Colorado (broker and associate broker only), Connecticut, Georgia, Massachusetts (broker only), Mississippi (broker only), Oklahoma, Pennsylvania, and West Virginia are among the nine states having reciprocity agreements. Although the prerequisites and eligibility differ significantly, all candidates must have a current license from their home state that was awarded within six months of seeking to practice in New York.
Can you get your NY real estate license online?
You may apply for a real estate license in New York either online or by mail. The eAccessNY License Management System in New York allows you to simply access the online option. You must create an eAccessNY account to schedule your exam, regardless of whether you submit a paper application or use the online option. While most candidates wait until they have completed all of their courses before scheduling a test, you can do so at any time. Even if you pass the exam, you must still complete all of the needed training before you can earn your active license.
How many hours is the NYS real estate exam?
You will be able to pick among 11 official exam venues around New York State with your eAccessNY account. The online portal contains all you need to know, including your confirmation and exam results.
The agent exam is a multiple-choice examination with a time limit of 90 minutes for completion. In addition to English, the test is available in four other languages: Spanish, Korean, Russian, and Chinese. The broker test, which is similarly multiple-choice, takes two and a half hours to complete since it covers more information.
Pass/fail exam results will be uploaded to your eAccessNY account as soon as they become available. Your test results are valid for two years if you passed. You can retake the exam if you failed the first time (with additional fees). To help you get ready for your coming exam, we have released this NY real estate practice exam with hundreds of practice questions. Let’s check it!
How to apply for NY real estate license?
You can apply for your license either by mail or online using your eAccessNY account once you have finished the required coursework and passed the exam. Before being given a license, agents must have a sponsoring broker indicated on their application.
How often do you need to renew your real estate license in New York?
Real estate licenses in New York are valid for two years and must be renewed online. Around 90 days before your renewal date, the state will contact you.
An agent license renewal will cost $55, while a broker license renewal will cost $155. You have up to two years to renew your license before needing to retake the exam if yours has expired.
Is Post-Licensing Education Required in New York?
Within the two years previous to renewal, New York real estate agents must complete 22.5 hours of authorized continuing education training, including three hours focused on fair housing and/or discrimination. Brokers are subject to the same regulations.
What are particular points to consider about the NY real estate license?
New York has several statutes and regulations that regulate real estate agents and brokers, all of which are listed in a 46-page document that aims to protect the public from any illegal behavior.
Homestead laws, which protect small property owners, and lease and rental agreement restrictions, which include rent control requirements, are examples of property and real estate laws that every agent and broker should be aware of.
Read more>> How To Become A Real Estate Agent In Texas?
Every day, more real estate agents in New York choose to advance their careers by obtaining a broker’s license. You now know how to become a real estate agent in New York. You may create your brokerage, recruit a team of agents, and eventually develop your business by becoming a broker. Good luck!
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