How to get a real estate license in New York
Once you have decided that the real estate industry is the career path for you, the next thing is to learn how to get a real estate license in the state of New York.
Like most states, New York has rules and regulations that real estate agents must adhere to.
Regulations for those seeking a real estate license
- Applicants must be at least 18 years of age.
- Have at least a High School diploma
- Be a US citizen or legally admitted alien
- All applicants must have completed 75 hours of education that has been approved by the state f New York.
- You must have a sponsoring broker licensed in the state of New York
- You must take the New York State licensing test and pass the test with a score of at least 70 or higher. In order to take the test, you must bring with you a government-issued photo ID.
- When you have passed the New York State exam you must then apply for you New York State real estate license and pay the required licensing fee.
Items one through three are self-explanatory and if one of them is not met, there is not much point in reading on until that condition has been met.
75 Hours of approved licensing classes
New York State requires that all applicants for a real estate license take at least 75 hours of pre-licensing courses. The form that these classes take can be in a classroom or online. Since everyone learns differently it is important that you choose the classes that work the best for you.
Check out the Best Real Estate Schools in New York.
For some people, the classes can be taken and gotten through in a week, for others, they may want to take full advantage that some online courses offer of taking six months to complete the classes. After the classes have been taken, they are valid for eight years after which time if the licensing test has not been taken, the course must be repeated. The New York State licensing board page has a list of all the schools that have been approved.
You may be wondering about the types of things that will be included in 75 hours of classes that are required.
Licensing course topics
- Real Estate Instruments
- Law of Contracts
- Real Estate Finance
- Closing and Closing Costs
- Law of Agency
- License Law and Ethics
- Valuation and Listing Procedures
- Human Rights and Fair Housing
- Land-use Regulation
- Real Estate Math
Once you have completed your 75 hours of licensing courses and received a satisfactory grade from whatever outlet you have chosen, it is time to prepare yourself for the licensure exam itself. You should be able to take some practice exams to get the nerves out of your system. You can go to the NY division of licensing services website and schedule your appointment to take your test through eAccessNY.
Taking the real estate exam
The day of the final exam bring along a government-issued photo ID such as a drivers license or a military ID to the licensing site. Bring the $15 fee to pay to take the test. Print off the Summary of Your Submission from the eAccessNY site, it includes all of your information and most importantly your candidate number. Some basic site rules apply:
- Turn off your cell phone,
- Reference materials not allowed
- No large bags or briefcases allowed
- No food and drink
- No children or guests
- No cheating
The New York State exam consists of multiple-choice questions. You are allowed an hour and a half to finish the test. In addition to English, the test is available in Spanish, Korean, Russian and Chinese. Grades will be given as pass or fail with no grade number. You must receive 70% or above to pass. If you fail the first time, you can reschedule on eAccessNy site and you will find the results of your real estate exam on the site as well.
Once you have passed the test you can apply for your real estate license and you are getting closer to beginning your new career. If however, you have ever been convicted of a felony, in most cases you will not be able to get a real estate license in New York. The license fee of a real estate salesperson is $50 for two years. During those two years, real estate salespeople are required to do 22.5 hours of continuing education. The pass rate for the NY real estate licensing exam is 68 percent.
What constitutes continuing education?
For the most part you are free to choose the areas of continuing education that will be most beneficial to you in your particular situation however there is a requirement that at least 3 of the 22.5 hours be about fair housing and discrimination in the rental and sales of real estate and at least one hour be about the law of agency. Some exceptions apply to these requirements and the NY state licensing website gives all the particulars and schools to attend.
Once you have passed your test and received your real estate license you are ready to be a New York real estate salesperson. You will be joining the almost 170,000 other New York real estate salespersons enjoying a real estate career. A step farther will be to consider becoming a real estate broker which involves additional education and licensing.