How to become a real estate agent in NY in 4 simple steps
You are reading this because you want to become a real estate agent in New York. You might want to earn additional income, change your career, work around your schedule or simply want to be your own boss. Being a real estate agent can provide you with all this but in order to become one you will have to know a few things.
Any person looking to become a real estate agent in NY always asks the same question: "How do I go about doing that?"
So in this blog I will try to provide a comprehensive 4 step blueprint to answer to this question. Lets jump into it!
Step # 1- Taking and Completing your NYS Salesperson License Course
The very first thing you will have to do is choose your Real Estate Salesperson Licensing course. In the state of New York you have to complete a 75 hour Salesperson Licensing Course in order to become a real estate agent.
The 75 hour Salesperson course is typically provided in two forms :
(1) online course and
(2) in class courses.
So now you are perhaps thinking...oh my god there so many course out there...how do i know which one to choose from?
You simply need to ask yourself:
- How long do I want to spend going through this course before taking my license?
- How much time do I have to learn and can I do it according to my schedule?
- Can I afford this course?
Typically the online courses are meant to provide you with more learning freedom as you can learn at your own paces. In-class courses take typically longer to complete as you would have to attend classes which are set according to the school’s schedule, not yours. The good part about an in-class environment is that you can ask direct question.
The course prices varies for each school but the typical rule of thumb is that the in-class courses are typically more expensive than the online courses.
So if you are thinking...I want to complete this course in 2 weeks and be on my way then I would recommend you take the NYS Real Estate Salesperson course online.
Step #2: Complete Course and Get Certificate of Completion
Pass Proctored Exam
After you complete the online or in-class Salesperson course, you must complete the final exam. New York State requires that this be a proctored, in-person exam. You will have to choose a proctoring location where to take your exam. Each school has a list of proctoring locations. Due to limited seating, it is strongly encouraged that you schedule your exam at least one week prior to completing the course. Proctoring fees vary per location and range from FREE – $75
Proctored Final Exam
The final exam consists of 75 multiple choice questions. Students must answer at least 70% correctly to pass. RealEstateU provides the results of the final exam instantaneously. If a student fails the final exam, they must register to retake the exam. The final exam can be re-taken as many times as needed.
Step #3: Pass the NY State Exam
Once you receive your ‘Certificate of Completion’, you are now ready to take the NYS Real Estate Salesperson Exam. You will be required to schedule your exam through the Department of State website, under the Occupational Licensing Management System (eAccessNY).
Please use the following link for more information regarding the New York State Real Estate Salesperson Exam procedures.
Step #4: Find a Sponsor Broker
In order to start practicing as a real estate salesperson, you must register with a licensed broker. This includes signing a contract that varies greatly between brokers.
You will have many brokers to choose from but they can be divided in three main categories: small brokers, local brokers, and large brokers
These are typically a one-person operation with a small team. Small brokerage firms will typically have contracts more favorable to you as they want to attract agents that will perform well. The brokerage wants to grow and this can be a good opportunity for you.
They are established in specific locations throughout the city and they try to dominate that particular market. They tend to have favorable contracts for new agents. They are also good negotiators and you will have to discuss the terms of your contract with them.
The big brokers like Century 21, Remax, etc. generally have contracts that favor them. They are the movers and shakers and there is a lot to learn about being part of their team.
You can change brokers at any time, but you are not allowed to personally take your license. The brokers must transfer your license. To hold your own license you will have to become a broker. You must be registered with a broker for 3 consecutive years before you are eligible to take a broker’s exam and work for yourself.
Now you know what are the 4 steps to becoming a real estate agent in New York. You can start right away by taking the NYS Real Estate Salesperson License Course online.