Studying For The New York Real Estate License Examination
If you want to get your New York real estate license and become a real estate agent in NY, the state has a wide variety of schools where prospective real estate salespeople (agents) can study for the exam as well as completing their pre-license and post-license requirements. There are also a host of distance learning institutions which allow individuals the opportunity to study from home. Corning and Dutchess County are among the best community colleges with the Brooklyn School of Real Estate and the Realty Institute in Flushing two of the top private schools.
Eligibility To Get Your Real Estate License In New York
Those applying to become a real estate agent must be at least 18 years of age. There is a specific 75 hour classroom course which must be completed prior to sitting the exam. This consists of 45 hours worth of classes which is also known as a salesperson qualifying course as well as a remedial course of 30 hours in length. You must also be sponsored by a licensed broker in New York. There is a Child Support Statement section of the application which has to be filled in. Applicants who owe more than 4 month’s worth of child support are not allowed to continue with their application. In general, applicants who have ever been convicted of a felony will not be permitted to sit the exam.
Real Estate Exam Information
The exam consists of a section relating to New York real estate and another portion dedicated to national information. The exam fee is $15 with a $50 application fee for a license that lasts for two years. These fees are non-refundable.
Industry Oversight
The New York Division of Licensing Services controls the industry in the state and is part of the New York Department of State which was set up more than 230 years ago. The state actually recognizes a variety of real estate licenses such as individual, associate, corporate and Partnership.
Renewing Your Real Estate License
You will need to complete a total of 22.5 hours worth of classroom education during the two year duration of your license in order to be eligible for a license renewal. A minimum of 3 hours of this requirement must consist of classes relating to fair housing in the state. If your license expires, you will be forced to sit the exam again to retrieve it.
Real Estate Reciprocity Agreements
There are a total of 10 states which have a real estate license reciprocity agreement with New York:
| Arkansas | Broker only |
|---|---|
| Colorado | Broker and Associate Broker |
| Connecticut | Broker and Salesperson |
| Georgia | Broker and Salesperson |
| Massachusetts | Broker only |
| Mississippi | Broker and Salesperson |
| Nebraska | Broker and Salesperson |
| Oklahoma | Broker and Salesperson |
| Pennsylvania | Broker and Salesperson |
| West Virginia | Broker and Salesperson |
It should be noted that some of these agreements only relate to brokers and not real estate agents/salesperson. If you are from one of the reciprocity states, you still need to pass the exam and provide evidence of sponsorship from someone who is a licensed broker in the state. Your license must also be current in your former state of practice and you must pay all applicable application fees.
Next Step: Becoming A Broker
To become a real estate broker in NY, you must be at least 20 years of age and have two years worth of full-time real estate salesperson experience. There is also the small matter of 120 hours of classroom education prior to sitting the broker exam. Post-secondary students may be allowed bypass the pre-education requirement if they can show proof that they have a major in real estate. The broker exam fee is $15 with a $150 fee for license application.