NYC’s dynamic realty market is a dream workplace for most realtors. Property prices in New York are high, but demand is always there. This, compounded with the city’s dynamic culture, well-paying job market, and ambitious drive for success, makes NY a lucrative place to stay for most Americans.
But there is background work you must do before you become a relator in New York. Getting your license can look like a challenge for most professionals, especially if you are pivoting from another career late in life.
But if you are reading this, you are in the right place. Below are essential steps to navigate NY’s realtor licensing process.
What Are the Requirements?
Ensure that you meet the state’s prerequisites before worrying about online courses and realty schools. New York’s eligibility requirements are not very strict, making it possible for any adult, 18 years or older, to work as a salesperson. A high school diploma or GED is also not a must-have.
Another crucial factor is your criminal history. Now, this is not an automatic disqualifier depending on the nature of the crime. However, if you have had prior run-ins with the law, go through the state’s vetting process, which will determine if you are eligible to work as a realtor in NY.
Find a School
The next order of business is finding an accredited school offering the pre-licensing program. You can study online or attend physical classes if your daily routine allows. Online realty schools, like RealEstateU, are self-paced and provide more flexibility and convenience. In-person classes emphasize interactivity if you prefer one-on-one sessions.
The program is 77 hours long and will introduce you to different topics related to NY’s property market. You will learn about federal and state property laws and ethics. You will also be taught how to draft contracts and property appraisals.
Secure a Sponsoring Broker
After completing the course, find a sponsoring broker to mentor you, assisting you in the initial stages of your professional path. This can be a licensed realty firm or an agent with a broker’s license. Take your time and do your research to find the best sponsor.
Some schools connect their students with leading brokers from NYC for sponsorships. However, if your school doesn’t offer that, make time and attend seminars and events related to real estate. There, you will network with industry professionals who may be open to sponsoring you.
License Exam
Once you have a sponsor, you can register for the NYC Salesperson Licensing Exam. The process is easy and is done online via the eAccessNY website. All that is left to do after that is to create an account, pay the $15 registration fee, and schedule the exam date.
Adequate revision is crucial to pass the exam on your first attempt. You can buy an exam preparation course to help you revise for the test. These courses come with mock tests and quizzes to help reinforce your understanding.
Also, look for a student exam handbook to learn about the exam rules and format.
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