Ready to launch your real estate career in New York? Once you've confirmed that you're eligible, you'll need to take the required pre-license real estate course. In short, it's a 75-hour program that teaches you everything you need to know to get your license. But what exactly will you learn? Here's the quick guide to the New York real estate pre-licensing course.
What is Covered in the New York Real Estate Pre-Licensing Course?
What all will you learn over the 75-hour program? The state of New York has provided a syllabus for this training, outlining each of the 19 topics that must be covered for courses to be approved. It includes the following:
Regulations and license law (three hours)
Law of agency (11 hours)
Legalities (10 hours)
The contract of leases and sales (three hours)
Finance related to real estate (five hours)
Regulations related to land use (three hours)
Environmental and construction issues (five hours)
Pricing properties and valuation process (three hours)
Fair housing and human rights (four hours)
Mathematics related to real estate (one hour)
Municipal agencies (two hours)
Insurance on properties (one hour)
License safety (one hour)
Assessments and taxes (three hours)
Cooperatives and condominiums (four hours)
Investment and commercial properties (10 hours)
Issues with income taxes in real estate transactions (three hours)
Mortgage brokerage (one hour)
Management of properties (two hours)
In each section, you'll find various sub-topics and key terms. Once you've completed all of the coursework, you'll have to pass a final proctored course exam with a minimum score of 70%. It's estimated to take about three hours.
A plus is that you can complete the program in a classroom or online with a provider like Aceable Agent. Online options enable you to work at your own pace when it fits into your schedule.
What Happens After You Finish Your Pre-Licensing Course?
Once you complete your coursework and pass the course exam, you can schedule a time to take the official New York real estate licensing exam. You are given 90 minutes to complete the 75-question test and must pass with a score of at least 70%.
Next, you'll need to find a sponsoring broker. In New York, real estate agents can't get their licenses without one. It's not a decision that should be taken lightly, as your sponsor can set you up for success or failure. You'll want to find one that is reputable, offers a competitive commission split, provides you with mentorship, and more.
With a passing score on the state licensing exam and a sponsor, you will be ready to apply for your New York real estate license. You can apply online through the eAccessNY system and will need to pay the $55 fee.
Start Your Real Estate Career in New York
If you're ready to start on the path towards buying and selling real estate in the big apple, you can take the first steps as soon as today. If you are at least 18, graduated from high school or have a GED, and have no criminal record, you're good to go. If you do have a criminal record, it's still possible to get into real estate, but you'll need to take an extra step.
Check out Aceable Agent's 100% online pre-licensing program, approved by the New York Department of State. It lets you complete the courses from the comfort of your home!