New York Real Estate License

Definition - What does New York Real Estate License mean?

The New York Department of State’s Division of Licensing Services manages the licensing of real estate salespeople and brokers in the state of New York.

Before applying for the salesperson license, individuals must fulfill several requirements. All applicants should be 18 years of age or older. They should have the equivalent of a high school education and take a 75-hour real estate course approved by the Department of State. A licensed broker must sponsor potential salespeople, who must pass the licensure examination. The Department of State charges $50 for licensure and $15 for the examination.

A broker license has additional requirements. Brokers must be at least 20 years of age. A salesperson must accumulate 2 years of full time real estate salesperson experience before becoming a broker. The individual must then complete an additional 120 hours of approved real estate education and pass the broker exam. The Department of State imposes a $150 fee for Broker license application.

The state of New York administers the exams through their eAccessNY Occupational Licensing Management System. The system can be accessed online to apply for examination. The salesperson and broker exams are based on the required real estate courses for their respective level. The salesperson exam must be completed within 1.5 hours, while 2.5 hours are given for the broker exam.

A passing score on either exam is 70% or above. The state withholds specific scores from applicants and instead issues only a 'pass’ or 'fail’ notice.

Testopedia explains New York Real Estate License

New York offers reciprocity programs for brokers licensed in Arkansas, Colorado, Connecticut, Georgia, Massachusetts, Mississippi, Oklahoma, Pennsylvania, and West Virginia.

Licenses expire after 2 years. 22.5 hours of continued education are required for license renewal.

Connect with us

Testopedia on Linkedin
Testopedia on Linkedin
Tweat www.testopedia.com
"Testopedia" on Twitter


'@Testopedia'
Sign up for Testopedia's Free Newsletter!