How do I become a real estate salesperson?
Real Estate Salesperson:
In order to qualify for licensure as a real estate salesperson, an applicant must have satisfactorily completed a 75-hour salesperson qualifying education course in real estate approved by the Secretary of State, and have passed a qualifying examination administered by the Department of State. An applicant who completed the 45-hour salesperson qualifying course prior to July 1, 2008 may complete the 30-hour remedial course in order to qualify for licensure.
Requirements through Manfred Real Estate Learning Center, Inc Include:
- Be at least 18 years of age
- Be a citizen or be a legal permanent resident
- Have no felony convictions
- Complete the 75 hour Qualifying Course
- Successful completion of the course requires 90% attendance and passing the school final exam.
- Pass the NYS Department of State (DOS) Salesperson licensing exam($15)
- Have a sponsoring New York State Broker (not required to attend course, must have to apply for license)
- Apply for Salesperson license ($50 for two years)
Classroom Course Fee: $425.00
Textbook Fee: $50.00 + tax
Online Course Fee: $375
What are the Continuing Education Requirements?
All licensees are required to successfully complete 22.5 hours of approved continuing education, including at least 3 hours of instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest of real property, within the two-year period immediately preceding a renewal.
Any salesperson who successfully completes an approved broker qualifying course (which requires passing the final exam), within their current term, will receive continuing education credit for completion of that course. Please note: The broker course does not satisfy the mandatory 3 hour fair housing requirement.
Either of the below are exempt from the continuing education requirements:
- Any licensed real estate broker who is engaged full time in the real estate business and who has been licensed prior to July 1, 2008 for at least 15 consecutive years and has maintained continuous licensure (no breaks in licensure for reasons such as late renewal submission) or
- an attorney admitted to the New York State Bar who holds a real estate broker’s license.When is registration with the Department of Financial Services Necessary? To negotiate a mortgage loan on residential property (one to four family building) registration with the Department of Financial Services is required.If I am a real estate management company, do I need a real estate broker’s license?
That depends on what services you provide. If you collect rent or place tenants in vacant spaces on behalf of your landlord client, the answer is yes. If, on the other hand, your services are strictly maintenance, the answer is no. you are not acting as a fiduciary (not handling another person’s money).Whom do I call if I am not sure whether I completed my 22.5 hours of continuing education during my license term?
Contact the school(s) you attended. Schools are required by law to maintain course completion records for three years. You may request duplicate certificates from the school(s) in the event you are audited.I could not complete the continuing education, but I wish to renew my license anyway. Can I apply for an extension?
Please refer to §177.6 in the real estate law booklet. Extensions will only be granted in bona fide hardship cases. You must submit the following, preferably prior to your license expiration: a written request for the extension, completed renewal form, fee, and original documentation demonstrating your hardship; i.e., medical documentation.I think I might be exempt from continuing education requirement, but I am not sure when I originally became licensed. Can you tell me when I was first licensed?
No. The Department of State only maintains seven years of real estate records. You may possibly determine your original date of licensure if you know when you completed the salesperson course and how long it took you after completing the course to apply for your license.
What happens if I do not renew my license?
If you do not renew your license, you cannot conduct any real estate activities that require a New York State real estate license in accordance with Article 12-A of the Real Property Law. There are no grace periods that allow you to continue working while not licensed. You have two years from the date your license expires to renew your license. If you fail to renew within that period, you will be required to pass the state written examination. No continuing education will be required to repeat the licensing process again.
When you submit your new salesperson application, you must include the following: your new examination results, application fee, and a copy of your expired license/pocket card or ORIGINAL proof of completing the salesperson course. If possible, it is better to submit original proof of your salesperson course. If you do not have an original certificate, then call the school where you took the course to request another certificate.
If you are applying for your broker’s license, you must submit ORIGINAL proof of your 75-hour salesperson course and 45-hour broker course, or a copy of your expired broker’s license.
I have been a real estate licensee for many years. Am I exempt from the continuing education requirements?
The law does provide for an exemption from this requirement for any licensed real estate broker who is engaged full time in the real estate business and who has been licensed for at least 15 consecutive years and has maintained continuous licensure (no breaks in licensure for reasons such as late renewal submission). This exemption must have been met prior to July 1, 2008. An attorney admitted to the New York State bar is also exempt from the continuing education requirement.
Article 12A statutorily requires all real estate brokers and salespeople to complete 22.5 hours of Department of State approved education, including three hours of instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest in real property, within their two-year license period prior to the date of expiration.
What Commission Rate Should I Expect to Pay?
The commission or compensation of a real estate broker is not regulated by statute or regulation, therefore the amount and terms are negotiable. A real estate broker shall never offer a property for sale or lease without the authorization of the owner. Therefore, prior to the listing or marketing of a client’s real property, it is incumbent upon the real estate broker and the client to mutually agree on a reasonable rate of compensation.
–Department of State, Division of Licensing Services
**Call us today at (518) 899-9500 to find out what exclusive benefits Red Door Agents receive!!**