The real estate business is now becoming the most popular business module widely. In the busy city New York, here is a vast option to expose the real estate business. If anyone gets a proper train and dedicated to their job, they could easily make quite huge money. To start this business, firstly, you need a real estate license in New York. To help you to become a real estate agent in New York. Today in this post, I am going to describe step by step guide how to get a real estate license in New York.
There is 5 Step About How to Get a Real Estate License in New York:
Step 01: Check your eligibility
At first, you need to know what is the requirement to apply for a real estate agent license in New York. Judge yourself do you able to full-fill the requirement? If your answer, yes, then go to the second step. So, let’s see the requirement;
- The candidate needs to touch at least 18 years or more.
- You don’t have any felony criminal records.
- Submit proof of United States residency certificate.
Step 02: Take the Pre-Licensing Courses for the license exam
After checking the eligibility, the candidate must need to prepare own self for the license exam. In this case, the candidate needs to complete a 75-hour salesperson education course in real estate that needs to approved by the New York Department of State. However, you may complete your pre-license courses via In-person and also Online. But remember, you need to learn an experienced firm with a qualified teacher. A good teacher makes your dream easier. You may one step towards success if you choose the perfect one.
On the pre-license courses, the candidate may learn various things for the exam. If the applicant chooses the In-person courses, they can get around 20 individual class sessions. Most of the class will be around 3.5 – 4 hours long. So, the course will be completed approximately 30 to 60 days. Mainly, it varies from academy to academy. If anyone takes two classes in a day, they could efficiently complete the courses within 30 days.
Therefore, the pre-license course fee will be between $275 – $465. It also varies from time and academic reputation. If anyone wants to complete this course from the reputed high academy, the course fee might be higher. Besides that, $35 – $50 will cost for the State requires a textbook to accompany the course.
On the online courses, you must check the courses approved by the State and a 3rd party reviewer called Arello. The Arello is ensuring that the course is up to standard. Here is the benefit for the candidate; they could choose their own time and at own pace. Not only that, the online course cost is cheaper than In-person courses. The price is around 99 –$250. On the online course, they could teach you almost the same things.
Step 03: Take and pass the School Final exam
After completing the 75-hour pre-licensing course, the candidate needs to pass the local school exam and get a valid certificate of completion for the course. This exam takes your academy, where you admitted for the pre-licensing course. This exam will around 75 marks, where students get 75 multiple-choice questions. The candidate needs to at least 70% of the correct answer within 90 minutes.
Note: Most of the reputed schools mimic the state exam. So, a couple the school question is harder than the state exam. They are judging their student; they want to ready their students and able to pass the State exam on the first try.
The exam time and date, you will know from the academic teacher. In this case, if the applicant joins the In-person course, they could attend the exam from the School itself. On the other hand, if the candidate chooses the online courses, they will have a list of proctoring locations. They could attend the exam from the list locations.
Once the candidate passes the school exam, they will be notified and able to collect their certificate. Most of the time, the School provides the certificate via mail.
Step 04: Apply for the New York license exam.
Once you pass the pre-licensing course entirely, you need to apply for the New York real estate license exam. This process will happen from the official website dos.ny.gov. After completing the eAccessNY process, the applicant able to take the state exam. The state exam is mainly based on written. It consists of 75 multiple choice questions like the school exam. Remember, most of the questions consist of the curriculum of a 75-hours real estate salesperson course. The examinee needs to solve 70% of questions from them. The exam time will 90 minutes.
To take the exam, the candidate needs to create an eAccessNY account. Once you setup your account rightly, you can able to schedule your NYS Real Estate Exam. Remember, the exam costs $15 per attempt. But the good news is, you may attend the New York real estate license exam until you passed.
On the exam time, you may bring with you a valid form of a government-issued ID, print copy of “Summary of Submission,” which one you get on the scheduled time of the NYS Real Estate exam.
Step 05: Find a Sponsoring Broker and complete the Application:
In this final step, you need a sponsored by a licensed broker to apply for the New York State Real Estate Salesperson license. Once you find a broker who sponsored you, then complete the application process through your eAccessNY account. So, let’s the final application process;
- Firstly, log in to your account and put the license number of your sponsoring broker.
- Then, give all the personal information that they want.
- After that, select the school where you completed your 75-hour real estate salesperson course.
- Then, pay the application fees that $50.
- Finally, click on the submit button.
Note: You’re sponsoring the broker must need to log into their eAccessNY account and authorize your application. When this process you will complete, you will get a confirmation message that is “Congratulations! You are now officially a real estate salesperson.”
Tips to become a real estate agent in New York:
Once you complete all processes and also get your license, you need to handle more technically in all deals. You may learn about the project before taking any business attempt. On think, you also need to consider the commission split. In the New York city, the standard commission 6% split between the broker and salesperson. In many cases, you get a 6% commission that split 50/50 between the buyer’s broker and the seller’s broker.
Split is varied from one another and also the agreement. You should pick the right one who is experienced and also provide you a higher commission. You’ll find lots of brokers who give you more than 60% commission. But your priority should have the broker resources and his mentorship.
New York is the most heritage city in the United States, even the world. Here is a lot of chance of making a career in the real estate sector. If anyone decided to start his journey from the real estate industry in New York, I think it’s a great decision.
Hopefully, now you guys know how to get a real estate license in New York. If you follow my above steps carefully, you will get your license without facing any problem. But remember, you should put all your necessary information valid and prepare yourself for all the required exams to get the real estate license.