What is a New York Real Estate License?
Selling real estate can be one of the most exciting careers one can enter. In addition to excitement, the field also produces one of the greatest ratios of millionaires and other levels of financial success in the world. Unlike many sales professions, however, to enter the industry does require one to obtain and maintain professional credentials, in this case a New York state issued real estate license.
Professional licensing for most industries requires certain validations, from criminal background checks to educational requirements, and often times includes a period of experience within the industry. To obtain a real estate license carries similar requirements with varying levels depending on the type of license needed. For example in New York there are a couple of different types of real estate licenses. The new licensee is looking to become a real estate salesperson. Later, with requirements met, a licensee can seek to become a real estate broker. Each of these licensing levels require the applicant to meet or surpass specified criteria which is taught in a classroom environment in locations throughout the state.
Starting Out in Real Estate
Newcomers need only concern their self with the salesperson’s license. According to the New York State Division of Licensing “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.”
Qualifying education courses are taught on a regularly scheduled basis by state approved real estate license schools. Since the state is so large it is important to note that, for people in the Boroughs of New York, classes are conducted convenient to the Queens, Brooklyn, Staten Island and Manhattan. Studying in the area where the prospective licensee intends to practice also provides the opportunity to meet others who are going through the same process at the same time. Since networking plays a tremendous role in the real estate industry it is more beneficial to begin making those connections early on.
Benefits of completing the real estate license course and passing the state exam are not limited to simply having a piece of paper on the wall and your name in a database. Accomplishing this task instills a greater sense of accomplishment, boosts self-confidence and enters the new licensee into an industry built around people and community relationships. The real estate industry as a whole, in fact, offers many opportunities to build a solid network of friends and business contacts from around the nation. Many very successful partnerships and enterprises have been born through the association of agents most of whom began their journey in the same manner; taking a class, passing a test and getting on board with a broker.
Earning the license does require commitment on the part of the licensee. While the licensing classes are designed to teach about real estate law and the process as it relates directly to the state of New York the student is always free to study about the actual practice of selling real estate. Since there are multiple functions within the industry it is up to the student and future licensee to learn as much as they can about the role they wish to play. There are, for example, roles such as a “listing agent”, “buyer’s agent” and even “leasing agent”. These three are among the most widely practiced roles, yet there are others within the industry which the new licensee may soon discover and wish to pursue. Learning about these specific roles is something which is only briefly discussed in the licensing class and can be studied further once the student has graduated and begun real estate practice.
Can I sell real estate without a license?
When one markets (advertises) or sells a real property which is titled to a third party, whether that party is a friend, family member or stranger, the state requires the salesperson to be licensed and in good standing. Failure to obtain a real estate license prior to engaging in the marketing and sales of any property within the state is a violation of state law and carries strict penalties. All laws fall under the Secretary of State and can be read in this PDF document available online at the New York Real Estate Law site.
Obtaining a real estate license is required for the sales of properties in almost every instance. Getting the license always begins with a licensing class which must be completed prior to testing and the issuance of the actual license. The classes are well constructed to teach the student to successfully pass the exam and earn their license. This is only the beginning, as every two years the state requires additional training to ensure the licensee is continually mindful of the residents of the state, businesses which operate in the state and all of the people who are affected by real estate sales. Everyone who gets their real estate license has made a decision which opens many new doors to opportunities which can exceed expectations, dreams and hopes. If you, the reader, have decided to pursue this career you have found an opportunity rarely matched in any other industry today.