How to Become a Real Estate Agent in New York?

How to Become a Real Estate Agent in New York?

Working as a real estate salesperson is one of those careers where someone can work at their own pace. Generally, real estate salespersons don’t work 9-5 /day – they set their own schedules and goals. Their earnings reflect the efforts they put in. A real estate agent position is usually considered as a first step of entering into the real estate world.

In this article, we will guide you on how to enter into the lucrative world of New York real estate – a state which is full of real estate wealth and amazing profits.

Getting a real estate agent’s license in New York is not a very complicated process. Individuals who meet certain criteria can easily get the real estate salesperson license in this state.

Eligibility Requirements

An individual who is interested in obtaining a license must be over 18 years of age and a legal resident of the United States. They must not have a felony conviction in New York or any other state – this rule may be bypassed in certain circumstances.

Educational Requirements

To get a real estate salesperson’s license, an applicant must complete 75 hours of approved courses successfully – prior to July 1, 2008, 45 hours were sufficient to complete the requirement. Those individuals who completed only 45 hours (prior to July 1, 2008) courses may take 30 hours remedial course to complete this requirement.

Exemption on Basis of Degree

If an applicant has a college degree in real estate, he/she is exempted from this 75 hours courses requirement. To get this exemption, the applicant must have to provide the proof that he has taken all the required courses in the college and passed them successfully – 75 hours attendance in the courses is mandatory.

After completing the courses (75 hours), all applicants have to pass the qualifying examination administered by the department. The state department charges $15 as the examination (written exam) fee.

Child Support Statement

All applicants must have to provide child support statements that show the number of children and any other support obligations.

Reciprocal Real Estate License

Ten states have a reciprocity agreement with New York. Applicants who want to get the benefit of this agreement must furnish the two required certificates and the application fee.

The certificates must be issued by the state where they are licensed. One certificate should state that they are in good standing and the other one is of irrevocable consent.

Individuals who are interested in getting a reciprocal real estate salesperson’s license, they must proof the sponsorship of their home-state broker. In addition, all real estate salespersons must be working under the sponsorship of a broker who holds a current New York State broker’s license.

Apply for License

Once an applicant meets the eligibility criteria and complete all the courses and required examination, he/she may apply for the real estate salesperson license. The applicant has to provide the notification of the cleared examination along with the license application and fee. The state department charges $50 (for two years) as the license fee.

It is important to remember that after getting the license, the individual has to furnish the proof of a New York’s broker’s sponsorship. Otherwise, he/she can’t work as a real estate agent in the New York state.

To cut a long story short, an individual who wants to get the license of a real estate salesperson in New York, he/she must be:

* 18 years or older;
* legal resident of the US;
* have a good character;
* completed 75 hours approved courses; and
* successfully completed the state department’s written examination.