5 Steps to Becoming a Real Estate Agent in New York
New York is said to be the city of dreams. It can be one of the perfect places to start a new life. This is why real estate agents specializing in this area are sorely needed. Here are the five standard steps to becoming a real estate agent in New York City.
Step 1: Meet the Legal Age
The legal age to start working as a real estate agent is 18. You will need to have completed high school or any other formal education. You must also be a US citizen. Even if you are an immigrant, you can train to work in this field as long as you have citizenship. These are the standard requirements for any trainee to meet. The reason is for legal protection and to help you understand American laws. Being a US citizen can give you this understanding of New York state.
Step 2: Complete Your Education
The minimum hours of formal education you need is 75. This education must be related to the field of work you mean to find. The state department is what orders the 75-hour course that trains you in property and real estate management. This is needed to gain a license, but you can decide which to work for. There are different salesperson licenses to sign up for. The ones that focus on real estate are the best-suited licensing packages for this role.
Step 3: Get Your Sponsor
As you slowly work towards gaining your license, you will encounter another requirement that must be worked for. A sponsoring broker is someone that will qualify you for your education and help authorize your license. This sponsor must be a real estate agent who works in New York. That way, the state of New York will officially recognize you as a trained professional. If a sponsor is not assigned to you already during your course, you must find one yourself. This can be done by contacting the state department for more details.
Step 4: Take on the Licensing Exam
The final obstacle in your 75-hour training course will be the licensing exam. This is the last test you must overcome for the license to be fully authorized. You will be studying for this exam for the 75 hours you have taken the course. You can also study in your own time for further preparation. Once you are ready, you will sign up with the state department and schedule the day you will take the exam. The passing grade must be 70% or higher. The Occupational Licensing Management System from the state will have further info on the exam itself.
Step 5: Apply for Your License
All you need to do is pass the exam and you will be qualified. After that, you can make an application for your official license. There is a fee you must pay for the application to go through. The application itself also requires a few questions for you to answer and further details were given. The New York Real Estate Salesperson Application can be found on the official state department website. It will be in the Division of Licensing section on the site. You can fill in the application on paper and hand it in through state headquarters. For an easier process, you can also fill it in online.
Once you are properly licensed, it is time to go out and find an opening. Remember to use the job site information to find a real estate agent opening. You can still work as a trainee in real estate to get some real experience first. Some agent openings may require that you work as a trainee for a few years before applying for the higher authority. It can be a long road but so worth the journey. You could be earning five to six figures as a New York real estate agent.