Becoming a New York real estate broker is a long journey, but the process is similar in other states. The requirements include having real estate experience, passing a broker's exam and applying for a broker's license. In addition, an applicant for a real estate broker's license must be in good standing with any child support payments. Once you pass all of these requirements, you may open your own NY real estate brokerage firm, hire employees and take commissions or fees from all of your agents' real estate sales.
Complete at least two years of real estate experience as a licensed, active real estate agent, or three years as a New York real estate assistant or office worker. You must have worked for at least 35 hours a week for 50 weeks a year. If you are a New York attorney, you are exempt from the experience, education and exam requirements. If you hold a broker's license in another state, you may apply for a New York license based on state reciprocity. Submit a completed application with the fee, the certificate signifying your current standing with another state, and a certificate of irrevocable consent. If your license is expired, you must meet all of the experience, education and exam requirements.
Complete an approved broker's exam course, which is offered online or in regular classroom settings. Complete all 120 hours of class time, which can include study online. If you have a degree in Real Estate, you are exempt from this course.
Go to the New York Department of State's website and create a user account to apply to take an exam. Choose a time and place to take your exam. There are 100 questions and you must get a 70 to pass.
Fill out the Child Support Statement form--whether you are a parent or not. You cannot be more than four months behind in child support payments, if you are required to make them.
Fill out the application for the broker's license within two years of completing your coursework. Pay the $150 fee. Attach proof of a passing grade on your coursework and final exam. You can mail it to:
New York State
DEPARTMENT OF STATE
Division of Licensing Services
P.O. Box 22001
Albany, NY 12201-2001
* You must be a U.S. citizen or legal alien with permanent residency status and be at least 20 years old before you can apply for a broker's license in New York.
* If you are a New York attorney, send in the completed application form and note that you are an attorney.
* You must renew your license within two years of first receiving it or else it will expire permanently.
* You cannot have a felony on your record.