New York Real Estate License Requirements and Costs in 2023

New York Real Estate License Requirements

In this article, you’ll learn the important step-by-step process you will need to take to meet the New York real estate license requirements.

We will be covering New York real estate pre-licensing requirements, taking the state exam, getting your background check, finding a brokerage, and more.

Though it can seem like a lengthy process, the process of getting your New York real estate license can be done almost entirely online. Keep reading to discover what you need to do to get started.

New York Real Estate License Requirements

You must have an area real estate license in New York to perform the real estate market duties. Qualification for the license acquisition is based on the criterion that you are a high school graduate with a diploma or G.E.D. and 18 years or older. Other New York real estate license requirements include:

  • You must be a U.S. citizen or permanent resident alien.
  • Have a clean criminal record
  • Complete the 75-hour salesperson course
  • Pass the New York real estate exam
  • Find a New York brokerage to work for
  • Pay the fee for the license application.
  • Submit a complete form applying to the department of state

Step 1: Take The 75-hour New York Real Estate Pre-Licensing Course.

Assuming you have met the minimum prerequisite requirements listed above, the first step is to enroll in an accredited New York real estate pre-licensing course. We will discuss a few schools and the costs below. If we has to choose one, we recommend the Colibri Real Estate school.

Most people opt to complete their New York pre-licensing course online. Online courses are self-managed and still contain study tools such as practice examinations and flashcards.

How Much Does New York Real Estate Pre-Licensing Cost?

New York pre-licensing costs will vary based on the real estate school and the particular course package you choose. Based on our research for 2022, it can cost anywhere between $224.25 and $374.25

Also, keep in mind that the New York Pre-licensing Costs listed below are based on the current discounted pricing from each school.

Colibri Real Estate New York Pre-Licensing Course Pricing:

  • Colibri Real Estate Basic Course For New York pre-licensing costs $226.80
  • Colibri Real Estate Exam Preparation New York pre-licensing package costs $268.80
  • Colibri Real Estate Exam Preparation Plus New York pre-licensing package costs $298.90
  • Colibri Real Estate Ultimate Learning New York pre-licensing package costs $370.30
Colibri Real Estate New York Pricing

Visit Colibri Real Estate New York or read our Colibri Real Estate Reviews.

The CE Shop New York Pre-Licensing Course Pricing:

  • The Course Only New York pre-licensing package costs $224.25
  • The Standard New York pre-licensing package costs $284.25
  • The Value New York pre-licensing package costs $321.75
  • The Premium New York pre-licensing package costs $374.25
How Much Does The CE Shop New York Cost?

Visit The CE Shop New York or Read the CE Shop reviews.

AceableAgent New York Real Estate Pre-Licensing Pricing:

  • AceableAgent New York Basic pre-licensing course costs $215
  • AceableAgent New York Deluxe pre-licensing package costs $315
  • AceableAgent New York Premium pre-licensing package costs $395
AceableAgent New York Pre-Licensing Course Pricing

Visit AceableAgent New York or read our AceableAgent reviews.

Real estate pre-licensing courses in New York are based on a single curriculum and will cover each of these topics:

  • New York Laws and regulations governing licenses
  • Organization law
  • Legal factors
  • New York Purchases and lease contracts
  • Asset finance
  • New York Land usage rules
  • Development and ecological concerns
  • The process of valuing and pricing assets
  • Human freedoms and equitable housing
  • Real estate economics
  • New York Local agencies
  • Asset coverage
  • New York Licensee protection
  • Taxation and inspections
  • Condos and unions
  • Asset managing
  • Mortgage trading
  • New York Taxation difficulties in real estate deals

What’s The Passing Exam Score Needed For New York Pre-Licensing?

The passing score needed on the New York real estate pre-licensing exam is a 70%.

You won’t be finished with your pre-licensing classes until you finish the final course exam. This test is not the same as the official New York real estate license examination. Your institution will conduct the school test and be proctored online or physically.

Once completed, a certificate will be issued to you.

Step 2: Get Your Background Check and Fingerprints

You will be required to have a straight criminal record by the state. You have to get fingerprinted and attach the results to your application. You can schedule your background check with Indentogo.

As of January 1, 2023, the fingerprinting fee for New York applicants is $101.75.

Step 3: Take the State of New York Real Estate Exam

The State of New York real estate exam features multi-choice questions using the 75-hour course topics mentioned above. 

You will have one and a half hours to finish the exam. The timer starts once the guidelines are read.

The New York real estate exam costs a very reasonable $15 and you can pay using a Master Card, or check. Cash will not be accepted as a form of payment.

The real estate exam will consist of 75 questions, and you will be needed to get at least 53 questions right. Test outcomes are stated as pass or fail; a numeric grade is not provided. The New York real estate exam test scores will only be valid for 24 months.

Your New York Real Estate Sales Agent Examination is based on a 70% graduation rate. The test is challenging but not extremely difficult.

The results will also be displayed online on your eAccessNY profile. 

How & Where Do You Schedule The New York Real Estate Exam?

To schedule the New York real estate exam you will sign up on a website managed by the NYDOS called eAccessNY. This website will keep all of your license details, such as exam results, brokerages, and continuous education.

This profile will be used during your career as a realtor in New York. Once the profile is created, you will access the scheduling portal. Here you have to enter your zip code, and it will select the exam station near you.

As mentioned previously, the New York real estate exam is $15 and will be paid directly to the eAccessNY website.

What Should You Bring To The New York Real Estate Exam?

On the day you have chosen to take the New York real estate exam, take yourself to the station center with either of these documents.

1. A type of govt signature identity that must include a picture. Your identity must be active and come from one of the following categories:

  • Driving license
  • state-issued identity
  • N.Y.C. Identity Card 
  • Passport
  • a US INS-approved I.D.
  • Credential of U.S. citizen status
  • International Passport (if needed)

2. Non-scientific calculators that are quiet and nonprinting are allowed. P.D.A.s are not permitted. While taking the New York real estate exam, all mobile phones, buzzers, and other digital equipment should be switched off.

What To Expect On The New York Real Estate Exam?

Note that the exam is extensive and needs lots of preparation. You will be tested on the following topics:

  • New York License Laws and Regulations
  • Agencies Law
  • Legislation issues 
  • Agreements
  • Financing
  • Land Usage
  • Building and Ecological concerns
  • Assessment
  • Equitable Housing
  • Coverage and Taxes
  • Condos and Coops
  • Business and asset investments.

How To Pass The New York Real Estate Exam?

The short answer is to study well o you are well prepared. I like to study by making my own flashcards. Read, write and say the answers until you know them by heart. Having said that, here are real estate exam prep courses that can really increase your chances of passing the exam.

We recommend the following New York real estate exam prep courses:

  1. PrepAgent New York Exam Prep
  2. The Real Estate Exam Scholar New York Course

Step 4: Find New York Real Estate Brokerage To Work With

When you are done with the exams, it’s time you get yourself a sponsoring broker. Until then, your license application won’t become active, and this means you can’t do any real estate dealing in New York.

To get a license as a real estate salesperson in New York, you must have worked with a brokerage for a few weeks and accumulated expertise. Your broker’s license number will come in handy in the final stages of your application.

Furthermore, they will provide you with whatever you want to improve your real estate marketing abilities. However, while making a decision, it is advisable to consider the following aspects.

Desk fees

Brokerages are paid on a subscription basis, and you’re more likely to be restricted to a broker with an inappropriate fee when you start in the market. Every brokerage industry has a variety of fees or desk costs.

Make sure you compare several brokerage firms and choose the one whose rates favor you.

Niche/ Specialization

Specializing in a specific area in your career might be in your best interest. If you plan to seal with corporate real estate, homes for old retired folks, or private ownership, you should find a firm to help you grow in your field. 

Culture and technology 

Over your tenure, the ethos of an organization you will work under will influence your impression of the New York real estate industry. So, learn how they carry out their responsibilities and whatever they value.

Look out for their technical breakthroughs as well. Is it true that they are proactive on social media? Is their digital marketing strategy in place? As tech progresses, the real estate industry in New York moves with the trend. You will have fewer technology abilities if you work for a brokerage that is not tech-savvy. 

Will you get the support you need from the brokerage?

It would help if you determined whether or not the firm you will be employed for takes excellent care of its staff. You ought to be conscious that you have to be a seasoned salesman once your engagement with the brokerage is through. This will not be possible if your sponsored broker cannot provide you with a platform on which to study, get coached, provide support materials, and so on.

Make contact with and question the former employees.

You should always do some homework on how the company handles its workers, how fees are paid, etc. The easiest approach to find out is to call the brokerage’s former agents. Ask them about their experiences and then make an informed decision.

Step 5: Finalize your New York Real Estate License Application

New York Real Estate Application

When you are under a New York brokerage, It’s the moment to submit your application for a real estate salesman license.

Your sponsoring broker will log in to the eAccessNY and enter his license number. That should allow you to fill in your info and pay the $50 fee.

At this stage, the State dept shall evaluate the application’s contents and ship the professional license to your location by U.S. postal service. When you are prepped, calm, and attentive, taking the New York real estate test is not as difficult as you may think. If you follow the instructions outlined, you will have no trouble passing the exam and becoming a certified realtor.

In New York, becoming a realtor at the salesman level is anticipated to take 4 to 6 months from beginning to end. Because of the extra criteria, the route to becoming a salesperson realtor takes longer due to the 75-hour coursework.

What Is The Real Estate Board of New York?

The New York real estate board is responsible for processing your license application and controlling the New York real estate market.

The board comprises the state’s secretary and the supervisor of financial service together with 13 appointees.

The Real Estate Board of New York requires that at least five members are real estate brokers. For qualification, a real estate broker must have a current New York State license as a real estate broker and ten years of experience in New York state properties.

There is a two-year limit, and appointees cannot serve for more than ten years. 

The New York Real Estate Board’s Authority and Responsibilities

  • Establishing educational and licensing standards for potential real estate licensees.
  • It is in charge of ensuring that real estate colleges that conduct license courses are accredited.
  • Taking care of the applications for real estate licenses. The board can grant, cancel, or revoke realtor licenses.
  • Developing new regulations and amending existing rules to provide a non-exploitative atmosphere for real property customers and investors. Undertaking inspections into the real estate operations of all New York real estate agencies

Are There Any Reciprocity or Portability Rights in New York?

Yes, there are salesperson real estate reciprocity deals. But, for that, you will have to be with a license that’s not older than six months from Colorado, Connecticut, Oklahoma, and West Virginia.

As for portability, New York is a physical state. That is, you are permitted to do operations in any state. However, you will be barred from entering the state for o real estate transactions.

A salesperson or a broker from other states must do all out-of-state online transactions and is not allowed entry to New York for showings or closings.

New York Real Estate License Requirements – Final Thoughts

Being a real estate agent in New York can be lucrative. However, it comes down to preparation, studying, and sitting for exams.

Have a plan that draws the path you will use like the institution you will use for your 75 hours course. Then, scout an examination center within your vicinity and brokerage companies.

For New York real estate pre-licensing we like Colibri Real Estate, AceableAgent, or the CE Shop.

Your hard work will earn you a living within a few months if all is done accordingly. Remember, the cost ranges for all the services are somewhat the same across the entire state. Finally, find a good brokerage to work under, and good luck!

View the real estate license requirements for another state or find an online real estate school.

Leave a Reply

Your email address will not be published. Required fields are marked *