So you want to become a real estate agent?
You may be thinking about becoming a real estate agent for various reasons or you may already have your real estate license and are searching for a brokerage to sponsor you. This blog will provide a step by step guide on how to become a real estate agent in New York State and will offer tips on how to select the best real estate brokerage for you.
No one decides they want to become a real estate agent solely for altruistic reasons. Instead, we all share one common interest - WE ALL WANT TO MAKE MORE MONEY! A real estate agent has the ability to make lots of money. In fact, a real estate agent is in complete control over the amount of money that they make. This is primarily because a real estate agent is an independent contractor (rather than an employee) and therefore, the agent will be able to operate under their own control. A real estate agent decides when, where (within the state that their licensed), and how much time they dedicate to the job. Of course, the more work you put into your craft, the more you will get out of it. You may be thinking now about all of the people you know who have recently, or are currently buying and selling homes, and that is a great start, your personal network. But before you are off to the races - bringing in deals and making money via commissions - you want to know how to become a real estate agent right?
See the FOUR STEP PROCESS below for more information on becoming a real estate agent and selecting your real estate brokerage.
FIRST: Research
Before you submit your application or click on a webpage to take the real estate agent's New York State required 75 hour course, make sure you research the different types of real estate agents and real estate brokerages that are out there. You will want to decide what area(s) within real estate you want to focus on (i.e., commercial sales, commercial leasing, residential purchases and sales), which will assist you with your decision on which brokerage you select. Too many agents get their real estate license and have no idea what they want to do or where to start. Real estate agents are required to be sponsored by a real estate brokerage, meaning you as a real estate agent will work as an independent contractor for a real estate brokerage and the commission that you earn from your deals will be paid out to you by your brokerage. As such, you will want to know whether a small or large brokerage is right for you; whether a residential or commercial brokerage is right for you; and so on - do your research and take time to think about what it is that you are looking for.
Taking the time to research and think about your options before you dive in to your NYS real estate certification course will help you tremendously. It will afford you the opportunity to hit the ground running once you become a New York State licensed real estate agent.
SECOND: Take the 75 Course & RE School Exam
New York State requires that each new real estate agent take a 75 hour education course. These days you can go online and find many good local courses with quality instructors. If you are the type of person that gets distracted easily, especially while at home, you may want to take your classes in-person. But if you are motivated and would prefer to do your classes online while at home or on the go, then some real estate schools offer an online option as well. The costs associated with taking the 75 hour course will vary, so do your research to find the best real estate certification course with the lowest costs (see FIRST step above)!
Once you have completed the 75 hour course, your real estate certification school will have you take a state-approved exam. You will want to look at your textbook and notes during your classes to refresh your memory prior to taking the school exam. Pass that test and the real estate school will give you a Certificate of Completion, which you can frame or not - totally up to you.
Now you have the key to the third step...the New York State exam, which is based on the same curriculum as the classes that you took in the real estate certification school.
THIRD: Sign Up and Take the New York State Exam
Once you have taken and passed the certification school's real estate exam you are now ready for the next and final procedural step on your path to real estate agent licensing. New York State requires that you register to take the real estate agent exam online. The exam cost is $15.00 per attempt and the great thing is, if you study you will only need to take the test once. Either click or copy and paste the 'eAccessNY' link below to create your account with the New York State Department of Licensing and register to take the test...
https://www.dos.ny.gov/licensing/eaccessny.html
My advice to you is the same as it was in the SECOND step - read through your textbook and notes that you took during your real estate classes before you go in to take the State test. You will also find study guides and practice questions online.
The New York State Exam guidelines are as follows:
You will have a total of 90 minutes to complete the test. You will need to score a 70% or greater to pass. There will be 75 questions on the test (so do the math, you will need to get 53 or more correct). On exam day, you should bring with you (i) a government issued photo I.D. (ii) your 'Summary of Submission' that you will receive upon registering for the exam via your eAccessNY account, and (iii) you may want to bring a calculator - and I say may because any math problems on the State test will not be overly difficult, and (iv) #2 pencils.
FOURTH: Find a Real Estate Brokerage
Congratulations! Now that you have passed the THIRD step you are a New York State real estate agent. But wait, not quite. Now comes the fun, selecting a real estate brokerage. Refer back to the FIRST step if you still need to research what area within real estate you want to focus on and whether a large, mid-sized or small brokerage would be best for you to learn and maximize your time and money. Most brokerages will be delighted to sponsor you, some may even fight for you (not physically, I hope). The reason? Generally, when you help a seller or buyer with selling or buying a house you will get paid a commission, which means the brokerage is also getting paid. Let me explain...
A real estate agent cannot get paid directly for their work. The money (commission) paid upon the closing of a house or building will be paid directly to the real estate brokerage's account. Your broker will cut you a check for your portion of the 'commission split' that you as agent and broker as broker have agreed upon. Traditionally real estate brokerages have operated on commission splits with their agents. For example, you have agreed to a 50/50 split (which is very common with many New York State brokerages). You have a listing to sell a $1 million dollar house where you will receive a commission of 3% (or $30,000.00). Based on the 50/50 commission split, you will receive 1/2 of the $30,000 and your brokerage will retain the other half. Although, in the modern tech world that we are living in, some brokerages do offer agents a 90% or even 100% commission split, but in exchange, the real estate agent generally pays the brokerage a monthly fee and may have other obligations as well (which agent fees and obligations may vary from brokerage to brokerage).
When you meet with the principal broker at the brokerage(s) you have selected, be sure to ask questions and 'interview' them just as much as they interview you. You, as agent will want to know what the broker can offer and the reasons why you should select that particular brokerage to sponsor your real estate license. A broker should have the time and knowledge to offer you guidance and advice. You, as agent will want to know all of the steps and processes from the beginning of a deal to the end. You will want to know the deal flow within the brokerage and how listings are circulated among agents when clients call seeking representation. Notwithstanding the foregoing, do understand that the real estate industry is generally self serving, meaning that you, as agent are expected to create your own clientele, your own hours and your own business.
For more information please call or email KKD REAL ESTATE GROUP. If you are thinking of becoming a real estate agent, or you are already an agent and looking for a quality brokerage, please call or email KKD REAL ESTATE GROUP using the contact information below. Find out why joining our brokerage will be a great fit for you and your business. Our real estate brokerage operates with a client-first mentality and believes that our agents deserve more of the money that they are working hard for. We offer our agents the best commission splits with no monthly fees paid by the agent. We work with all of our agents to ensure they are achieving their goals and maximizing their time.
KKD REAL ESTATE GROUP
kkdrealestatellc@gmail.com
(917) 816-7310
You may be thinking about becoming a real estate agent for various reasons or you may already have your real estate license and are searching for a brokerage to sponsor you. This blog will provide a step by step guide on how to become a real estate agent in New York State and will offer tips on how to select the best real estate brokerage for you.
No one decides they want to become a real estate agent solely for altruistic reasons. Instead, we all share one common interest - WE ALL WANT TO MAKE MORE MONEY! A real estate agent has the ability to make lots of money. In fact, a real estate agent is in complete control over the amount of money that they make. This is primarily because a real estate agent is an independent contractor (rather than an employee) and therefore, the agent will be able to operate under their own control. A real estate agent decides when, where (within the state that their licensed), and how much time they dedicate to the job. Of course, the more work you put into your craft, the more you will get out of it. You may be thinking now about all of the people you know who have recently, or are currently buying and selling homes, and that is a great start, your personal network. But before you are off to the races - bringing in deals and making money via commissions - you want to know how to become a real estate agent right?
See the FOUR STEP PROCESS below for more information on becoming a real estate agent and selecting your real estate brokerage.
FIRST: Research
Before you submit your application or click on a webpage to take the real estate agent's New York State required 75 hour course, make sure you research the different types of real estate agents and real estate brokerages that are out there. You will want to decide what area(s) within real estate you want to focus on (i.e., commercial sales, commercial leasing, residential purchases and sales), which will assist you with your decision on which brokerage you select. Too many agents get their real estate license and have no idea what they want to do or where to start. Real estate agents are required to be sponsored by a real estate brokerage, meaning you as a real estate agent will work as an independent contractor for a real estate brokerage and the commission that you earn from your deals will be paid out to you by your brokerage. As such, you will want to know whether a small or large brokerage is right for you; whether a residential or commercial brokerage is right for you; and so on - do your research and take time to think about what it is that you are looking for.
Taking the time to research and think about your options before you dive in to your NYS real estate certification course will help you tremendously. It will afford you the opportunity to hit the ground running once you become a New York State licensed real estate agent.
SECOND: Take the 75 Course & RE School Exam
New York State requires that each new real estate agent take a 75 hour education course. These days you can go online and find many good local courses with quality instructors. If you are the type of person that gets distracted easily, especially while at home, you may want to take your classes in-person. But if you are motivated and would prefer to do your classes online while at home or on the go, then some real estate schools offer an online option as well. The costs associated with taking the 75 hour course will vary, so do your research to find the best real estate certification course with the lowest costs (see FIRST step above)!
Once you have completed the 75 hour course, your real estate certification school will have you take a state-approved exam. You will want to look at your textbook and notes during your classes to refresh your memory prior to taking the school exam. Pass that test and the real estate school will give you a Certificate of Completion, which you can frame or not - totally up to you.
Now you have the key to the third step...the New York State exam, which is based on the same curriculum as the classes that you took in the real estate certification school.
THIRD: Sign Up and Take the New York State Exam
Once you have taken and passed the certification school's real estate exam you are now ready for the next and final procedural step on your path to real estate agent licensing. New York State requires that you register to take the real estate agent exam online. The exam cost is $15.00 per attempt and the great thing is, if you study you will only need to take the test once. Either click or copy and paste the 'eAccessNY' link below to create your account with the New York State Department of Licensing and register to take the test...
https://www.dos.ny.gov/licensing/eaccessny.html
My advice to you is the same as it was in the SECOND step - read through your textbook and notes that you took during your real estate classes before you go in to take the State test. You will also find study guides and practice questions online.
The New York State Exam guidelines are as follows:
You will have a total of 90 minutes to complete the test. You will need to score a 70% or greater to pass. There will be 75 questions on the test (so do the math, you will need to get 53 or more correct). On exam day, you should bring with you (i) a government issued photo I.D. (ii) your 'Summary of Submission' that you will receive upon registering for the exam via your eAccessNY account, and (iii) you may want to bring a calculator - and I say may because any math problems on the State test will not be overly difficult, and (iv) #2 pencils.
Persons with disabilities who require accessibility information should call 518-474-4429. Persons who require testing modifications should not schedule an exam and, should instead, call 518-474-4429.
FOURTH: Find a Real Estate Brokerage
Congratulations! Now that you have passed the THIRD step you are a New York State real estate agent. But wait, not quite. Now comes the fun, selecting a real estate brokerage. Refer back to the FIRST step if you still need to research what area within real estate you want to focus on and whether a large, mid-sized or small brokerage would be best for you to learn and maximize your time and money. Most brokerages will be delighted to sponsor you, some may even fight for you (not physically, I hope). The reason? Generally, when you help a seller or buyer with selling or buying a house you will get paid a commission, which means the brokerage is also getting paid. Let me explain...
A real estate agent cannot get paid directly for their work. The money (commission) paid upon the closing of a house or building will be paid directly to the real estate brokerage's account. Your broker will cut you a check for your portion of the 'commission split' that you as agent and broker as broker have agreed upon. Traditionally real estate brokerages have operated on commission splits with their agents. For example, you have agreed to a 50/50 split (which is very common with many New York State brokerages). You have a listing to sell a $1 million dollar house where you will receive a commission of 3% (or $30,000.00). Based on the 50/50 commission split, you will receive 1/2 of the $30,000 and your brokerage will retain the other half. Although, in the modern tech world that we are living in, some brokerages do offer agents a 90% or even 100% commission split, but in exchange, the real estate agent generally pays the brokerage a monthly fee and may have other obligations as well (which agent fees and obligations may vary from brokerage to brokerage).
When you meet with the principal broker at the brokerage(s) you have selected, be sure to ask questions and 'interview' them just as much as they interview you. You, as agent will want to know what the broker can offer and the reasons why you should select that particular brokerage to sponsor your real estate license. A broker should have the time and knowledge to offer you guidance and advice. You, as agent will want to know all of the steps and processes from the beginning of a deal to the end. You will want to know the deal flow within the brokerage and how listings are circulated among agents when clients call seeking representation. Notwithstanding the foregoing, do understand that the real estate industry is generally self serving, meaning that you, as agent are expected to create your own clientele, your own hours and your own business.
For more information please call or email KKD REAL ESTATE GROUP. If you are thinking of becoming a real estate agent, or you are already an agent and looking for a quality brokerage, please call or email KKD REAL ESTATE GROUP using the contact information below. Find out why joining our brokerage will be a great fit for you and your business. Our real estate brokerage operates with a client-first mentality and believes that our agents deserve more of the money that they are working hard for. We offer our agents the best commission splits with no monthly fees paid by the agent. We work with all of our agents to ensure they are achieving their goals and maximizing their time.
KKD REAL ESTATE GROUP
kkdrealestatellc@gmail.com
(917) 816-7310
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