No matter where you are seeking your real estate license, there are rules you are required to follow. When you become a real estate salesperson, you can complete certain transactions, including closing real estate sales. As an agent, you will be able to show homes, list homes, and close transactions at your own pace. The amount of freedom that this career path offers is surely alluring. Fortunately, the steps can be laid out simply, allowing you to chart out a path for your future career. This guide will help you receive your real estate license in New York, cluing you in from the first step to the last.
1. Meet Basic Real Estate Agent Requirements
You must be at least 18 years old to work as a real estate agent. Additionally, you may be subjected to license suspension if you are several months behind on child support or if you have certain criminal offenses in your background. It is also advised that you have your high school diploma or GED.
You must also submit to a background check that will perform a search of your criminal history. While there are many criminal offenses that will not prohibit you from becoming a real estate agent, it is important that you are completely honest with the real estate commission to ensure that there are no snags in your application. Certain felonies may prohibit you from working in a licensed real estate capacity.
2. Take Required Education Courses
Real estate agents in New York are required to complete 75 hours of required courses with a satisfactory grade. This required course is meant to prepare you to work in the field as well as to understand practical information about the New York real estate world. You will learn about topics that range from legal issues to documents real estate agents commonly fill out. This course is designed with the changing scope of the real estate industry in mind.
A waiver may be available for some real estate agent prospects. If you have a bachelor’s degree in real estate, you may not have to take the salesperson course, for instance. This is up to the discretion of the real estate board, and certain courses of study may not be eligible for a waiver. If you have questions about real estate education, you can bring them up with the board or your school of choice.
3. Find a Broker
In order to work as a licensed real estate salesperson, you must be sponsored by a licensed broker. This broker is responsible for ensuring that you work to the standards set by the office and real estate board. He or she is essentially responsible for your actions during your first years as a real estate agent. You will also owe them a portion of your earnings during the time that you are under their care.
The decision of which real estate broker to work with is not one to take lightly. You may be working with this broker or firm for many years to come, so it is important that you assess your options carefully. You can interview prospective brokers before choosing to work with them so that you can determine if you vibe well with the other agents working there. This can certainly take a toll on how successful you are in your new career.
4. Pass the New York Real Estate Salesperson Exam
New York’s real estate examination is administered by the Department of State. Testing centers are situated throughout New York. When you arrive at the testing center, ensure that you bring two forms of current photo ID. These may include a driver’s license, state-issued ID card, military ID, or passport. You may also bring a calculator, so long as it is silent, does not have an alphabetic keyboard, and does not print. You may not bring a cell phone or similar electronic device. Additionally, the exam site does not allow large bags, reference materials, or books.
The test itself consists of multiple choice questions based on the pre-licensing course. You will have 1.5 hours to complete it. The test covers topics learned in the pre-licensing course. While many students choose to take a test prep course, it is not a necessity for many. Studying the course materials may be more than enough to help you pass the exam.
In order to pass the examination, you must receive a score of 70% or higher. You will know whether you passed the examination online after the test. You may not be given your exact score, but rather whether you passed or failed.
5. Submit a New York Real Estate Salesperson License Application
The real estate sales application is simple enough, but it is important to be honest and open. If you are proven to have lied on your license application, you may be declared ineligible to have a license. The board prefers only to license individuals they feel will be trustworthy. Additionally, inaccuracies could make it more difficult to process your application.
Make sure that you submit the necessary payment along with your application as well. Check and money order are typically accepted.
6. Complete Continuing Education Requirements
Once your real estate salesperson license has been approved, you are required to complete 22.5 hours of continuing education each renewal period. Of these courses, three must related to fair housing and discrimination. The others may be elective courses based on New York real estate topics and regulations. These courses are meant to help you stay up to date on topics as the world of real estate revolves around you.
When you are looking for real estate courses that will help you complete your continuing education requirements, you can count on PDH Real Estate to help you. Contact us for more information about taking real estate courses that will help you move forward in your career as a salesperson.