New York is a global and economic powerhouse. The state attracts investors, developers, and homebuyers countrywide and overseas. Its real estate market is vibrant and dynamic and can be a lucrative option for those who want to pursue a career there.
However, with great opportunity comes great competition. The market is very competitive, which drives competition between buyers and renters. Your mettle as a professional realtor will be put to the test working as a realtor in New York, but the pay is worth it.
Investing in quality education is your first step toward getting a license. In this guide, we delve into becoming a licensed realtor in NY.
Online Classes vs. Physical Campus
You must decide before you start searching for a school. Each has its fair share of pros and cons. However, if you want more flexibility in your routine and self-paced studying, click this link here now.
Attending a physical school will help you interact with other students, which can be great for your career. However, if you live a long distance from school, transport and accommodation expenses can become an issue. We recommend enrolling in an online school, especially if you have a busy routine or live far away.
State Accreditation Is a Must
Don’t enroll in any school or online campus offering real estate programs. Ensure that the school appears on the state’s list of accredited schools. State accreditation is proof that the school meets all of the requirements and the coursework is at par with industry standards.
Learning from such a school will also put you in good standing as a professional. You will also rest assured that you’re getting access to professional tutors and instructors. Papers from unrecognized schools will be rejected when applying for a license or job.
Education and Training
After you are satisfied with your school of choice, it’s time to complete the pre-licensing program. Most of the content is theoretical and will be relevant when you start working as a realtor. Most schools organize webinars and seminars with industry professionals to help students gain more insight into how the real estate market operates.
We recommend starting your hunt for a sponsor at this time. This is a requirement in most states, New York included. The role of a mentor is to sponsor you after you get your practice license from the state. Doing this early will put you in good standing and will improve your chances of advancing your career faster.
Get Ready For the Exam
Exam fear is normal, and you may experience it, especially if you have been out of school for a long time. However, most real estate schools do an excellent job of providing materials to help students prepare for the main exam.
You can purchase an exam preparation package and use it to prepare yourself for the pre-licensing test. Quizzes and assignments will also help you identify your weak areas and work on them before sitting for the main exam.
In NY, students can retake the exam as many times as they need to pass. However, each time you retake the exam, you must pay the examination fee.
Submit Your Application
You are now at the tail end of this process and a step closer to becoming a licensed realtor. All you must do at this point is submit your papers to the relevant state department for approval. There is a fee involved, so ensure that you have the money ready.
Approval can take several days or weeks before you get your license. The state will also run a background check on you to ensure that you are a person of good standing. If everything is approved, and you haven’t violated any eligibility requirements, you’ll be good to go.
Getting a good education and mentorship from an experienced broker will prepare you for a successful career as a realtor in NY. It can be a challenging career for newbies, but with time, you will get the hang of it.
Also, invest time in completing continuing education courses. The programs are designed to keep you abreast with the changes in NY’s real estate industry. The certificates earned from these courses are crucial when applying for your license renewal.