Whether you are a real estate agent or broker, you will need a license if you want to buy and sell real estate in New York. You must be at least 18 to become an agent and at least 20 to become a broker, complete certain real estate courses, pass an exam (or two, depending on your license), and pass a criminal background check. your age should be at least.
Which license is right for you? The difference between a real estate agent and a real estate broker is largely based on years of experience and training. First, an agent must work under a licensed broker, while brokers can work for themselves and/or hire agents to work for them.
Becoming a broker in New York also requires completing additional courses and working as an agent for at least two years.
- New York real estate agents are among the highest in the country, earning an average annual salary of $ 87,938.
- First, you need to get the proper license as a broker or broker.
- While agents must work for licensed agents, agents can work for themselves or hire agents to work for them.
- Becoming an agent requires 75 hours of real estate courses while licensing a broker requires 120 hours and two years of hands-on experience.
- For both licenses, the course is valid for two years after completion and requires further ongoing training prior to renewal.
- To obtain both licenses, you must pass a final exam and a background check.
New York Real Estate License Requirements
There are two types of licenses in New York, so requirements vary by license. For example, a New York real estate agent (known as a “seller”) is licensed to handle real estate transactions but must work with a licensed broker. On the other hand, a broker can own their own company and can hire other agents to work for them.
Agent license requirements
- Must be at least 18 years old
- Complete a 75-hour real estate course through an approved provider (valid for eight years from completion) or earn a four-year degree in real estate2
- I have to pass the final exam
- Fingerprinting should be taken and a background check should be done 3
- It must be supported by the broker
Broker License Requirements
- Must be at least 20 years old
- Must have worked as an agent for at least two or three years in the general real estate business.
- Must have completed a 120-hour real estate course through an approved vendor or have a four-year degree in real estate.
- I have to pass the final exam
- Fingerprinting should be taken and background checks should be done
A note on background checks: You must disclose all criminal convictions related to your application as an agent or broker. Depending on the crime, the sentence may or may not be interdictory. However, failure to communicate a conviction even for a minor offense will result in the immediate rejection of the application.
How long does it take to get a New York real estate license?
From start to finish, it is estimated that it will take four to six months to become a seller-level real estate agent in New York. For a broker, the path can be a bit long due to additional requirements – completing 120 hours of training. Real estate course (instead of the 75 hours required to become an agent) and two years of experience as an agent or three years of experience in the real estate sector in general. 2 New York real estate agents are among the highest paid in the country. Earn an average annual salary of $ 87,938.6
How much does it cost to get a real estate license in New York?
Being a real estate professional in New York doesn’t have to be very expensive. When all is said and done, an aspiring agent will spend around $ 500 to $ 1,000 to get the license, while a broker can expect to pay between $ 950 and $ 1,450.
Reciprocity for real estate licenses
New York has reciprocal agreements with nine states: Arkansas (brokers only), Colorado (brokers and partners only), Connecticut, Georgia, Massachusetts (brokers only), Mississippi (brokers only), Oklahoma, Pennsylvania and West Virginia. Requirements and qualifications vary slightly, but all applicants must issue an active home state license within six months of applying to practice in New York.
Can you apply online for a real estate license in New York?
You can apply for a New York real estate license online or by post. You can easily access online options through the New York eAccessNY Licensing System. 1213 Whether you are submitting a paper application or using the online option, you still need to create an eAccessNY account to schedule your exams. Most candidates wait until the end of their syllabus to schedule the exam and you can schedule it at any time. However, even if you pass, you still have to complete all the required courses before you can get your active license.
New York Real Estate License Exam
With your access account, you’ll be able to choose from 11 official test venues in New York State. Everything you need to know, including test confirmation and results, is available through the online portal.
The agent test is a multi-choice test and candidates have 90 minutes to complete it. The test is offered in four additional languages: Spanish, Korean, Russian and Chinese. The intermediate exam, which is also a multiple-choice, takes two and a half hours, as it consists of multiple courses.
Test results are published in pass/fail format and will be posted to your eAccessNY account as soon as they become available. If you pass, your test results are valid for two years. If you fail, you can take the test again (with an additional cost).
Applying for a Real Estate License in New York
Once you have successfully completed the required courses and passed the exam, you can formally apply for your license by mail or online through your eAccessNY account. Note that agents must have a sponsoring broker listed on their applications before obtaining a license. 1741
New York real estate license renewal
All New York real estate licenses are valid for two years and must be renewed online. The state will notify you about 90 days before the renewal date
The dealer renewal rate will cost 55, while the broker license renewal cost will be $ 155. If your license expires, you have up to two years to renew it before taking the test again.
Does New York require post-license education?
New York real estate agents who renew their licenses must complete a 22.5-hour approved continuing education course within two years of renewal, including three hours focusing on fair housing and / or discrimination. Brokers face similar requirements.
New York has many laws and regulations that regulate real estate agents and brokers and to protect the public from any heinous activity, all of which are contained in the 46-page document.
There are also property and real estate laws that every agent and broker should be aware of, including real estate laws that protect small ownership and lease and rent laws that include specific rules for controlling rent.