How to Become a Real Estate Agent in NY in 5 Easy Steps

Do you want to learn how to become a real estate agent in New York? Whether it’s in Manhattan or the Hamptons, we’re here to guide you so you can start your exciting new career in the industry. You’ll start by completing a 75-hour prelicensing course. We’ve broken down every step to get you licensed in one of the busiest real estate markets in the world. Let’s get started.

How to Become a Real Estate Agent in NY

To be eligible to get your real estate license in New York, you need to be at least 18 years old and free of criminal convictions. Let’s take a look at the five easy steps you’ll need to follow to become a real estate agent in New York.Now that you understand the eligibility requirements, let’s walk through each step so you can learn how to become a real estate agent in New York.

1. Complete a 75-Hour Prelicensing Course

Cost: $300 – $550
Time Commitment: 1-2 months

Your first step is to complete a 75-hour prelicensing course. You’ll have the option of taking your course online or in-person, depending on your preference.

Most people prefer the flexibility of enrolling in a self-paced, online course. We recommend Colibri Real Estate if you’re considering taking your prelicensing course online. It’s a leading online school for aspiring New York real estate agents.

Colibri Real Estate has four packages priced from $324 to $529. The top three packages include a Pass or Don’t Pay Guarantee—you’ll receive a full class refund if you don’t pass the licensure exam on the first try. They’re our top pick in our guide to the best New York real estate schools.

2. Pass the State License Exam

Cost: $15
Time Commitment: 2 Hours (arrive 30 minutes early)

Once you’ve completed your prelicensing course, it will be time to schedule your license exam. Start by creating an account with eAccessNY, New York’s licensing system. You’ll be able to schedule your exam at one of 11 exam sites in New York and pay the $15 exam fee online.

The New York real estate license exam is a multiple-choice written exam that you’ll get 1.5 hours to complete. Your exam results will be available on your eAccessNY account. You’ll receive a pass/fail notification, not a grade. You can retake the NY real estate licensing exam as many times as you like, but you’ll have to pay the $15 exam fee each time.

3. Complete a Background Check

Cost: $101.75
Time Commitment: 2 Hours

Congratulations! At this point, you’ve passed your license exam and are ready to apply for your real estate license. As part of the license application, you’ll need to complete a fingerprinting background check.

Your background check is administered by the City of New York Department of Investigation. You can schedule your background check through the IdentoGO online system. No walk-ins are permitted for background checks, and you’ll pay $101.75 for the background check.

4. Find a Broker to Hire You

Cost: No cost
Time Commitment: 2 – 4 weeks

📌   Pro Tip

Licensed New York real estate brokers have been in the field for at least three years, have taken 45 additional hours of real estate coursework, and have passed the New York State broker exam.

At this point, it will be time to start looking for jobs with a New York real estate broker. Be prepared to knock on doors and introduce yourself to find a brokerage to oversee your work. Licensed real estate agents are required to work under and be sponsored by a broker.

When you explore job prospects with different brokerages, make sure you ask about their compensation and employment terms. See our section on compensation below for more details. Take all of these terms into consideration before you sign a contract with any brokerage. Once you’ve signed on the dotted line, you can find your first clients and start earning commissions!

5. Apply for Your License

Cost: $65
Time Commitment: 1-2 weeks

Now that you’ve found a sponsoring broker, you can complete and submit your real estate license application. First, complete the Real Estate Salesperson Application and pay the $65 application fee. You’ll need to include your sponsoring broker’s ID number on the application.

Your broker will receive notification that you’ve submitted a licensing application and will give their approval. Once approved, you’ll receive your New York real estate license in the mail with a week or two.

As a licensed real estate agent in New York, you’ll be able to start selling in one of the most lucrative real estate markets in the world. We wish you all the best in your exciting new career!

How Much Does it Cost to Become a Real Estate Agent in NY?

It costs about $400 to $600 to get your real estate license in New York. Some of these costs are fixed, such as the application fee and exam fee. Your course costs and exam prep materials will vary depending on the schools you choose.

New York Real Estate License Costs

Compensation

How much do real estate agents in New York make? According to Indeed, a real estate agent’s average income in New York is $111,734 (as of this writing). New York City agents earn a higher average annual income than many other places in the state due to the high cost of property there.

In your new career as a real estate agent, you’ll be paid solely by commission. If you’ve never worked as a commissioned salesperson, it may take some getting used to, but commission sales reward those who hustle and provide excellent client service. Here are some important things to know about your compensation structure as you begin your search for a brokerage to hire you.

Split: A split refers to how you’ll divide your commissions between yourself and the brokerage. For example, a 50/50 split means that the brokerage and salesperson evenly share the commission.

Desk Fee: Some brokerages will give you a higher percentage for your split, but they may charge you a monthly desk fee. Although you may make a larger share of the commission with each transaction, the desk fee will be collected monthly whether or not you’ve closed a sale.

Cap: A cap is the maximum amount that the brokerage will take from the commissions that you’ve earned within the year. You may find some agencies offer a higher split but a lower cap, or vice versa.

You may decide to quit your day job and jump in with both feet. Some new agents choose to work on a part-time basis to maintain another steady source of income as they develop a client base.

Choosing a Real Estate School

Your first consideration is to choose either an in-person or online real estate school. Online classes are typically more affordable and can be taken at your own pace from home, eliminating the need for a commute.

In-person classes at New York real estate schools can be completed in 10 days, but you need the flexibility to be able to spend all day in a classroom. But if you prefer interacting with instructors and other students, this may be your best option.

How to Become a Real Estate Agent in NY – FAQs

Have more questions? We’ve answered the most frequently asked questions below. If we missed something, let us know in the comment section – we’d love to hear from you!

How long does it take to become a real estate agent in New York?

Is getting your NY real estate license worth it?

What topics do NY real estate classes cover?

How hard is the real estate exam in NY?

More Career Resources from The Close

We hope you’re as excited about starting your career as a real estate agent in New York as we are. At the Close, we’re here to celebrate your success and encourage your career growth with actionable steps.

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