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 2023.
What Are the Experience Requirements?
Before you can begin pursuing your New York real estate broker license, you need to meet these minimum qualifications:
- Be at least 20 years old
- Have a current New York state driver’s license or non-driver ID card
If you already have your real estate license in New York, you’ll need to complete the following:
- Two years of experience as a licensed real estate salesperson in New York State
- 3,500 experience points based on your previous work in the field (exclusive listings, sales, leases, etc.)
- 75 hours of broker courses
As of December 2022, all broker applicants must complete a total of 152 hours of approved qualifying education. This means that if you’ve only taken the 77-hour agent prelicensing classes and 45-hour broker education module, you’ll still need to complete at least 30 hours of broker remedial coursework.
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
If you do not have a real estate agent license New York, but have applicable experience, you’ll need to:
- Complete the 77 hours of prelicensing courses required of any New York real estate salesperson
- Complete the 75 hours of courses required to qualify as a New York real estate broker
- Have earned at least 5,250 experience points based on your previous work in the field
Attorneys admitted to the New York State Bar are exempt from the course, experience, and exam requirements. They can earn a NY real estate broker license by filling out the application. See the FAQ section for questions about state-by-state reciprocity with New York.
New York Real Estate Governing Board:
New York State Board of Real Estate
$419 (through Colibri Real Estate)
Broker Written Exam Fee:
Total Estimated Costs:
How Much Does It Cost to Get a Real Estate Broker License in New York?
It costs more than $600 to get your New York real estate broker license, which includes required courses and the application and exam fees. Here’s a breakdown of the costs.
New York Real Estate Broker License Costs
|Classes (45 hours)||$419 (through Colibri Real Estate)|
(New York real estate broker license costs as of March 2023)
Complete your New York real estate broker license courses in as little as two weeks with Colibri Real Estate!
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.
- Step 1: Complete the 75-hour New York Real Estate Broker License Course
- Step 2: Pass the New York Real Estate Broker Exam
- Step 3: Complete the New York Real Estate Broker Application
6 Best New York Real Estate Schools for 2023
1. Complete the 75-hour NY Real Estate Broker License Course
To become a real estate broker in New York, you need to complete a 75-hour course through one of about 60 state-approved schools. If you liked the school where you took your salesperson prelicensing course, then you should consider taking your broker course with them as well. If not, we recommend Colibri Real Estate’s high-quality online courses that are ideal for a busy Realtor’s schedule. The company’s website and user interface make it easy for students to stay focused on the material.
Colibri Real Estate’s Broker Basics package includes the 75-hour broker course, e-books, and state-approved instructor support.
Take a step toward becoming a NY Real Estate Broker and sign up for courses with Colibri Real Estate today!
2. Pass the NY Real Estate Broker Exam
Time to Complete:
Bring to Testing Center:
One government-issued photo ID with your signature and submission page from eAccessNY
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.
Real estate testing sites are located in the following cities:
- Franklin Square
- New York City
To sit the exam, you must present one form of current 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 not your cell phone, during the exam. All other electronic devices must be turned off, and dictionaries and other reference materials are not allowed at the exam site.
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
Congratulations are in order! Now that 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-or-no questions about any criminal history you may have.
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, a copy of the court records detailing the allegations, and records of how the case was resolved.
You’ll also need to 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 new brokerage, you’ll need to complete additional paperwork with the state before completing the broker license application. First, you’ll submit the business name you want to use to the Division of Licensing Services. Once that’s approved, you’ll need to file the new name with either your local county clerk’s office or the New York Department of State’s Division of Corporations.
How to Start a Real Estate Brokerage in 2024 (Without Going Broke)
Is a New York Broker License Worth Pursuing? (& Other FAQs)
We’ve outlined how to get your New York real estate broker license, but perhaps you’re wondering if getting it is worth the trouble. We’ll discuss this and other 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 comment section.
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 a few important considerations to take into account.
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.
Of course, some agents simply get their broker license so that they can work independently, without having to find a brokerage to affiliate with. But even if you don’t have other agents working under you, you are assuming more liability than you would as an agent.
Learn more about a broker income and expenses by reading Real Estate Broker vs Agent: A Head-to-Head Analysis.
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.
The real estate market was booming in 2020 and 2021, when the BLS last reported earnings data. But with rising interest rates and decreasing affordability, the real estate market began slowing down. 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.
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 75-hour NY real estate broker courses in just over a month. 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 Colibri Real Estate. 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 $619 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 online, we recommend Colibri Real Estate’s Broker Basics package.
More Career Resources From The Close
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