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 begin your exciting new career in the industry. You’ll start by completing a 77-hour prelicensing course from one of these state-approved real estate schools. 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 New York
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.
1. Complete a 77-hour Prelicensing Course
Your first step is to complete a 77-hour prelicensing course. You’ll have the option of taking your course online or in person, depending on your preference. For more details on this step, jump to our section on choosing the right real estate school for your needs.
While some people prefer in-person classes, online options have become much more popular in the last few years. We recommend Colibri Real Estate if you’re considering taking your prelicensing course online as the company offers both self-paced and scheduled classes. It’s a leading online school for aspiring New York real estate agents.
Colibri Real Estate is offering our readers 30% off its prelicensing packages. Use promo code TheClose30 to save today.
Colibri Real Estate has four packages priced from $355 to $613. The top three packages include a Pass or Don’t Pay guarantee. This means you’ll receive a full refund of your tuition if you don’t pass the licensure exam on the first try. It’s part of the reason they are our top pick in our guide to the best New York real estate schools.
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2. Pass the State License Exam
Once you’ve completed your NY prelicensing course, it’s time to schedule your license exam. Start by creating an account with eAccessNY, New York’s licensing system. You’ll be able to pay the $15 exam fee online and schedule your exam at one of 11 exam sites in New York.
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 numerical score. Should you fail the exam, you can use your eAccessNY account to schedule another test. Note that you can retake the New York real estate licensing exam as many times as you like, but you’ll have to pay the $15 exam fee each time.
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3. Complete a Background Check
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 New York City 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 Sponsoring Broker to Hire You
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!
📌 Pro Tip
Licensed New York real estate brokers have been in the field for at least three years, have taken 75 additional hours of real estate coursework, and have passed the New York State broker exam.
Licensed real estate agents are required to work under a broker. So 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.
5. Apply for Your License
Now that you’ve found a sponsoring broker, you can complete and submit your real estate license application. First, fill out 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 a 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 within 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 New York?
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 school you choose.
Sample New York Real Estate License Costs
Prelicensing Course (77 hours):
$355
Exam Registration:
$15
License Application:
$65
Total Cost:
$435
(New York real estate license costs as of April 2023)
Choosing a Real Estate School in New York
Your first consideration is to decide whether you want to take classes in person or online. Online classes are typically more affordable and can often 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. If you prefer interacting with instructors and other students, this may be your best option.
If you like aspects of both these formats, you might want to consider livestream classes. With this option, you’ll be able to follow an online schedule and talk to instructors in real time, but you won’t need to commute to a school for class.
| Types of Instruction |
Pros
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Cons
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| In-person Classes |
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| Livestream Classes |
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Colibri Real Estate is offering our readers 30% off its prelicensing packages. Use promo code TheClose30 to save today.
Compensation for New York Real Estate Agents
How much do real estate agents in New York make? According to Indeed, a real estate agent’s average income in New York is $89,847 (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 sales commissions between yourself and the brokerage. For example, a 50-50 split means that the brokerage and salesperson share the commission evenly.
- 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: This is the maximum amount that the brokerage will take from the commissions that you’ve earned within the year. In general, once you hit your cap, you’ll take home 100% of your commission. 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.
Curious how much an agent or broker makes in a year? Colibri surveyed thousands of real estate professionals, compiling the data for a comprehensive report that gives this kind of deep insight into the industry. If you want to understand your income potential, click on Colibri’s report below to learn all the secrets of the trade. The future is bright and the numbers are there to prove it.
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How to Become a Real Estate Agent in New York: FAQs
Still not sure about your path forward? 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?
It takes around three to six months to become a real estate agent in New York. The most time-consuming part of the process is the 77 hours of prelicensing instruction you’ll need to complete.
Is getting your New York real estate license worth it?
There are several steps to becoming a New York real estate agent and it will take about three months and about $450 to become licensed. It’s worth it. Working as a real estate agent gives you unlimited income potential and control over your schedule. It’s hard to find a career with those perks.
What topics do New York real estate classes cover?
The state requires all real estate schools in New York to teach the following topics:
- License law and regulations
- Agency law
- Legal issues
- Sale and lease contracts
- Real estate finance
- Land use regulations
- Construction and environmental issues
- Property pricing and valuation
- Human rights and fair housing
- Real estate math
- Municipal agencies
- Property insurance
- Licensee safety
- Taxes and assessments
- Condominiums and cooperatives
- Commercial and investment properties
- Income tax issues in real estate transactions
- Mortgage brokerage
- Property management
What if I’ve completed my real estate education in another state?
If you’ve taken the equivalent of courses listed above, the state of New York may waive the 77-hour prelicensing education requirement. You’ll only need to provide your official transcript or your certificate of completion from an approved real estate school. Learn more in our state-by-state guide to license portability and reciprocity.
How hard is the real estate exam in New York?
The New York real estate license exam isn’t a walk in the park, but with good study habits, you can pass this exam. Even though your real estate school will present the information in an easy-to-understand format, you’ll have to do your part to prepare for the license exam.
This might also factor in how you decide on the right real estate school for your needs. For example, the three top-tier course packages from Colibri Real Estate include exam prep materials like flashcards, practice tests, and more—not to mention a Pass or Don’t Pay guarantee.
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. Don’t miss a single article and subscribe to our newsletter. And don’t forget to check out our Facebook Mastermind Group to connect with agents nationwide.
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