How to Become a New York Real Estate Agent
What if we told you that you could earn a commission of three percent of the cost of a New York brownstone by working as a real estate agent in New York?
If you are familiar with the price of NYC real estate, you may be excited by the idea of becoming a real estate agent. After all, what other profession allows you to earn this kind of money – without being required to have a college degree?
Keep reading to learn how to become a real estate agent in NY. You could be helping clients buy and sell property in Brooklyn, Albany, or Manhattan less than six months from today!
Prerequisites to get your New York real estate license in New York:
- You must be at least 18 years old.
- New York state photo driver’s license or non-driver ID card.
The process is relatively straightforward. Applicants must complete coursework, pass a test and a background check, and fill out an application to become licensed as a NY real estate agent.
It’s time to get started!
5 Steps To Get Your New York Real Estate License
Step 1: Enroll in a New York real estate school
The NYS Department of State Division of Licensing Services requires real estate agents to take 77 hours of specified coursework before sitting for the real estate licensing exam – and you must take the coursework from a pre-approved real estate school.
The 77 hours of classes cover complicated topics like real estate law, mortgage loan brokering and lending, and fair housing. You need to understand these topics to pass the licensing exam – and to help your future clients make significant financial decisions.
The Division of Licensing Services provides a list of approved real estate schools online. You’ll see both in-person and online schools on the list. However, most people take online courses to streamline the process. An online real estate school also offers more flexibility and allows you to go back and review topics that confused you.
Step 2: Pass the course final exam
When you have completed the 77-Hour New York Pre-licensing Course, you must pass a course final exam that will help prepare you to pass the licensing exam.
Step 3: Complete the background questionnaire truthfully
In order to complete the New York real estate license application, you must have a valid Driver’s License or NY ID card. Additionally, you must also truthfully answer questions related to your criminal history.
Failure to comply may result in disqualification from obtaining a license and completing the application process.
Step 4: Apply for your New York real estate license
After passing the exam, you must complete the Real Estate Salesperson Application. There is a $65 application fee.
Step 5: Pass the state license exam
Once you’ve completed your 77-hour New York exam preparation course, you must take and pass the real estate salesperson exam.
Start by creating an account with eAccessNY, the Occupational Licensing Management System for the state. Once you have created an account, you can schedule and pay the $15 fee for your in-person exam. There are 11 exam sites scattered throughout the state.
Spend the time leading up to your exam reviewing the material you learned during your coursework and taking practice exams. Some pre-licensing packages come with exam-prep materials.
You’ll have 1.5 hours to complete the New York real estate salesperson exam. The test is multiple-choice, and exam results will be posted ASAP to your eAccessNY account.
Related: New York real estate license exam prep.
Additional Steps
For New License Holders: Find a Sponsoring Broker
Real estate salespeople in New York (and across the country) must work under a broker. A broker is someone with experience in the industry who has taken additional coursework and passed a broker exam.
Before you can submit the NY Real Estate Salesperson Application, you need to provide the name of the broker you will be working under – and they must confirm this relationship.
Some people talk with many brokers before selecting one that is the right fit. Some brokerages have excellent training and mentor programs, but you may have to pay desk fees or give them a bigger share of your commissions for these benefits.
For New License Holders: Complete the New York Real Estate License Application
After passing the examination, you must apply for a real estate salesperson’s license. You can submit your application online via New York’s eAccessNY portal. Your principal broker will have to authorize your application. After that, the Department of State will review your application and mail your license to your business address.
What Should You Do After You Get Your New York Real Estate License?
1. Grow your network with other real estate agents in New York
Becoming a real estate agent is a fantastic way to kickstart your career. By joining a reputable real estate agency, you can gain valuable experience, access resources, and benefit from mentorship from seasoned professionals. Here’s what to do:
Start networking with local real estate agencies to explore potential opportunities. Attend open houses and industry events to build relationships and learn from experienced agents.
Work closely with your agency’s broker and colleagues to develop your skills and build a strong client base.
Consider specializing in a niche market, such as luxury properties, commercial real estate, or residential sales, to differentiate yourself and target specific clients.
2. Pursue a New York Broker Certification
If you aspire to take your real estate career to the next level and have the ambition to manage your own brokerage or team, pursuing a broker certification is a wise choice. Here’s how to proceed:
- Accumulate a few years of experience as a real estate salesperson to meet the prerequisites for broker certification.
- Enroll in a New York-approved broker pre-licensing course, which typically involves 75 hours of coursework.
- Pass the New York broker’s licensing exam.
- Apply for your broker license.
Consider specializing in a specific area, such as property management, real estate investment, or commercial brokerage, to broaden your expertise and attract clients.
Ultimately, the decision between becoming a salesperson or pursuing broker certification depends on your career goals and aspirations. Both paths offer exciting opportunities in the dynamic world of real estate.
How long does it take to become a real estate agent in New York?
It can take you between four to six months to become a real estate agent in New York. This includes the time required to finish your New York pre-licensing course, undergo the background check, take the licensing exam, and receive a license. However, this may vary from person to person.