Required Steps and Estimated Costs to Begin Your Real Estate Career

LICENSING:

In accordance with NYS law, individuals desiring a real estate salesperson license must be at least 18 years of age at license application and must have successfully completed a mandated 45 hour course of study approved by the Department of State for "Salesperson's Qualifying". The mandated course may be taken either before taking the licensing exam or within 90 days after passing the exam.

APPROVED COURSE:

The mandated approved course is conducted o­n a regular basis by a number of local colleges and private, State approved real estate schools. See school list. Approximate cost $275-$295 plus $45 for he text book.

EXAMINATION FOR LICENSE:

Department of State test centers located at Albany, Hauppauge, Franklin Square, New York City and Newburgh require on-line pre-registration to take the sales person exam. These exams are held every Tuesday (except legal holidays) at 9:30 a.m. and 1:30 p.m. at the Department of State Building, 84 Holland Avenue, Albany, NY (474-4429). Pre-registration is made at the Department of State website www.dos.state.ny.us. See the Real Estate Online Appointment Scheduler on the Department of State website. You MUST bring a check or money order payable to the DEPARTMENT OF STATE in the amount of $15.00. CASH WILL NOT BE ACCEPTED. Bring two (2) Number 2 pencils with erasers for use during the exam. Handheld calculators that are noiseless and tapeless are allowed.

PASS/FAIL NOTIFICATION:

Examination results will normally be mailed to applicants within 24 hours of scoring. NOTE: It could take up to 2 weeks to receive the results. Exam results will be mailed to the applicant's home address.

SPONSORING BROKER:

In NYS, you MUST be sponsored by a New York State Licensed Real Estate Broker BEFORE you can begin engaging in real estate sales activity.

LICENSE APPLICATION/LICENSING:

A Salesperson's License Application obtained from the real estate school upon satisfactory completion of the 45 hour qualifying course, must be signed by the sponsoring broker and sent with the pass notice to the Department of State within 90 days. Approximately 10-12 weeks after submission of the application, a real estate license will be issued and you can now legally participate in the real estate business in New York State. Cost: $50.

EXPEDITED REAL ESTATE LICENSING PROGRAM:

In order to apply for the expedited license, applicants must bring a completed Real Estate Salesperson's application (including the sponsoring broker's signature and the $50 application fee) to the test center. This application and fee MUST be submitted at the time they take the test. Those applicants who pass the examination and whose applications are approved will be sent a temporary Letter of Authorization (LOA). These LOA's will normally be sent within 24 hours of scoring the examination. NOTE: It could take up to 2 weeks to receive the results. Exam results will be mailed to the applicant's home address. Applicants are eligible to start working immediately upon receipt of their LOA. The real estate salesperson's license will be sent directly to the sponsoring broker. Applicants who are not successful o¬n the examination and/or whose applications are not approved will have their applications and fees returned along with their results.

THE PRUDENTIAL REAL ESTATE TRAINING PROGRAM:

A comprehensive, skill level training program designed to give salespeople the quickest start possible to their real estate career. This service is free of charge!

MISCELLANEOUS INTRODUCTORY EXPENSES:

Business cards, name badge, presentation manual and other sales aids at your discretion. Approximately: $80.

ERRORS & OMISSIONS INSURANCE:

Depends o­n date of affiliation and is pro-rated. $265 annually.

BOARD OF REALTORS/MULTIPLE LISTING SERVICE:

All associates are required to be members of both their local Board of Realtors and Multiple Listing Service. Fees are collected semi-annually and pro-rated from the date you apply. Approximately $400-$600.

For further information or to request a confidential interview: Call: Erin Hart @ 518-935-2555