New York real estate agents enjoy the highest annual salary in the country, but you’ve got to spend a little money to make big money. You won’t be dropping thousands as you would on a college degree, but starting a real estate career in New York involves an upfront investment.
The good news is the cost of getting a real estate license in New York is much lower than you may expect. Here’s an idea of what you’ll likely spend.
The Cost of Pre-License Real Estate Courses in New York
Cost: Varies by Provider
There aren’t many requirements associated with getting a real estate license in New York, but you will have to complete a required 75-hour course. The cost of the course varies depending on the provider. The course provider must be approved by the Secretary of State, but there are no regulations over the fees that are charged.
One factor that can affect the cost of New York real estate courses is whether they’re administered online or in a class setting. Generally speaking, online courses tend to be cheaper. You’ll also save on indirect costs like gas, parking fees, and hiring a sitter.
Once you’re done with the courses you’ll have to take a required school-administered final exam. The cost of the exam should be covered by the course fees. Students can expect to pay $300+ for the 75-hour course.
New York Real Estate Licensing Exam Fees
The Division of Licensing Services regulates the exam process. They’ve set the written exam fee at a very reasonable $15. But there’s one caveat. If you don’t pass the exam on the first shot and have to take it again, you’ll have to pony up another $15.
All the more reason to do your test prep! But an exam prep package may cost extra if it’s not included with your required real estate courses.
Real Estate License Application Fees in New York
Cost of living may be high in some New York cities, but getting a real estate license is surprisingly affordable. The non-refundable initial application fee is currently $55. If you want to step up to a broker license the fee is going to be $155.