Stand apart from thousands of other real estate agents by pursuing your New York real estate broker license. Having a New York real estate broker license may not only help you attract high-end clients, but it’ll also open up additional streams of revenue that are unavailable to agents.
Let us help you level up your career by sharing how to earn your NY real estate broker license. We’ll share the prerequisites—which include a combination of years in the industry and “experience points”—and then we’ll walk you through the steps you’ll need to become a NY real estate broker in 2022.
What Are the Experience Requirements?
Before you can begin pursuing your New York real estate broker license, you need meet these minimum qualifications.
Please note that these next three requirements apply to those who have previously completed their 75 hours of prelicense (agent) education and obtained a NY real estate agent license. You must:
If you aren’t a licensed agent in New York State, you may still be eligible to become a broker if you can prove at least three years of experience in the “general real estate field.” Your experience may include, for example, buying and selling your own properties, managing property owned by your employer, and so on.
The Average Real Estate Broker Salary for Every State
You may be able to apply such experience toward the requirements for the New York real estate broker license. If you do not have a real estate agent license New York, but have applicable experience, prospective New York real estate brokers must:
Attorneys admitted to the NY State Bar are exempt from the course, experience, and exam requirements, and can earn a NY real estate broker license by filling out the application. See the FAQs section for questions about state-by-state reciprocity with New York.
How Much Does It Cost to Get a New York Real Estate Broker License?
It costs approximately $500 to get your New York real estate broker license, which includes the cost of required courses, the application and exam fees. Here’s a breakdown of the costs.
New York Real Estate Broker License Costs
|Classes (45 hours)|
How to Get a New York Real Estate Broker License
Do you meet the requirements laid out above? Next, you’ll learn about how to obtain your New York real estate broker license and advance your career to the next level.
5 Best New York Real Estate Schools for 2022
1. Complete the 45-Hour NY Real Estate Broker Course
Cost: As low as $325 with The CE Shop
Time commitment: 2 weeks
To become a real estate broker in New York, you need to complete a 45-hour course through one of about 50 state-approved schools. We recommend The CE Shop’s high-quality online courses that are ideal for a busy Realtor’s schedule. The CE Shop’s website and user interface makes it easy for students to stay focused on the material.
The CE Shop is also the only nationally ranked online school to offer two options for aspiring New York real estate brokers. Their “Upstate” and “Downstate” course packages ensure your training matches the types of transactions you’ll encounter in your career.
For example, their upstate course package covers topics like farmland and freshwater wetlands, something you’re unlikely to encounter if you’re selling properties in Manhattan.
Take a step toward becoming a NY Real Estate Broker and sign up for courses with The CE Shop today!
2. Pass the NY Real Estate Broker Exam
Once you’ve completed the NY real estate broker course requirements, you will need to create or log in to your eAccessNY account. Through this account, you’ll be able to schedule your New York real estate broker exam and later, receive your exam results
The New York real estate testing sites are located in the following cities:
- Franklin Square
- New York
To sit the exam, you must present one form of government-issued, photo ID with a signature at the testing site. You’ll also need to present the submission page from your eAccessNY account (including exam information and candidate number).
You can use a basic, non-programmable calculator, but you must turn off your cell phone during the exam. Your results will be available online through your eAccessNY account as soon as the exam has been graded.
However, you won’t receive a numeric score. If you fail the exam, you can reschedule through your eAccessNY account. If you pass, it’s on to the next step!
Real Estate Broker vs Agent: A Head-to-Head Analysis
3. Complete the NY Real Estate Broker License Application
Time commitment: 2-3 hours
Once you’ve passed the New York real estate broker license exam, you can immediately begin filling out the Real Estate Broker Application through your eAccessNY account. You’ll need to supply some personal details and answer a series of yes/no questions about any potential criminal history.
Please note that felony convictions don’t automatically preclude applicants from getting a NY real estate broker license. If this applies to you, you must submit a written explanation with your application and “provide a copy of the court records detailing the allegations of the offense and how the case was resolved.”
For your application to be processed, you must include a copy of your course completion certificate, your Licensed Salesperson Activity Worksheet (to report your experience points), and your Licensed Salesperson Employment Worksheet (to document your work experience).
The application also provides a place to register your company name. If you’re opening a brokerage, you’ll need to complete additional paperwork with the state before completing the broker license application.
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Is a New York Broker License Worth Pursuing? (& Other FAQs)
We’ve outlined how to get your New York real estate broker license, but maybe you’re wondering if getting it is worth the trouble. We’ll discuss this and answer frequently asked questions about the time commitment, level of difficulty, and financial rewards of pursuing a New York real estate broker license below. If you have more questions, please drop them in the comments section.
How much do real estate brokers make in NY?
According to the Bureau of Labor Statistics, the average income of a broker in the State of New York as of May 2020 was $111,120. However, those working in New York City earned a bit more, with the average income reported as $134,770. For comparison purposes, it’s interesting to note that real estate agents report an average income of $102,200 statewide and $98,580 in the NY metro area.
Of course, the real estate market has been booming since 2020, when the BLS last reported earning data. Indeed shows that brokers in NY State who self-reported their income to the jobs website earn $88,647, and those in New York City earn $101, 636 (as of this writing). We are anxiously awaiting official updates on the BLS data.
Should I get my broker license in New York?
While it seems that there’s a financial benefit to earning your New York real estate broker license, there are considerations in making your decision.
If you plan to open your own brokerage, you’ll be able to collect desk fees and a share of the commissions from the real estate agents working under you. On the other hand, you’ll have additional expenses and responsibilities that come with operating your own business.
Instead of opening your own brokerage, you can take the role of a managing broker in an existing brokerage. In this leadership role, you may oversee the transactions of salespeople working under you in exchange for a percentage of their commissions.
Learn more about a broker’s income and expenses by reading Real Estate Broker vs Agent: A Head-to-Head Analysis.
How long does it take to become a real estate broker in NY?
It takes one to two months to become a real estate broker in New York if you’re a fully licensed real estate agent with all of your experience points.
You may be able to complete the 45-hour NY real estate broker courses in just a few weeks. However, if you’re currently working as a real estate agent, you’ll have to take your classes in your spare time, which might be challenging.
That’s why we recommend that you complete your NY real estate broker license requirements with an online school like The CE Shop. You can complete the necessary class hours in the comfort of home, according to your busy schedule.
How much does it cost to get a broker license in New York?
It costs about $500 to get your broker license in New York. This covers the cost of the coursework and the application and exam fees.
While there are many affordable NY real estate broker license courses to be found online, we recommend The CE Shop its upstate and downstate broker course packages.
More Career Resources From The Close
The Close offers resources for every stage of your real estate career—from skill-building courses at The Close Pro to networking opportunities in our Facebook Mastermind Group. We hope to help you feel confident in advancing your career to the next level.
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