Frequently Asked Questions
General School FAQ’s:
No, you cannot mix and match the online and class sessions.
Students who take our physical classes tend to do better on the school test and NY State exam, from all the help and advice given by the instructors of what is on the exams, and to make sure they study specific areas.
Our Manhattan, Brooklyn and Queens locations are open Mon – Friday 8:30am to 6:00pm. Sat & Sun 9:00am to 5:00pm.
For more information about our individual school locations, see our locations page
We do not offer financial aid, however you can pay in installments with cash or credit. As with all our payment plans, payment must be done before your course is completed.
Real Estate FAQ’s:
The major difference between a real estate salespersons and real estate broker license are requirements and accrued points by rentals and sales. Real estate brokers are generally required to have more education and sales experience than real estate salespersons. A real estate salesperson is licensed by the state, but must work for a broker. A broker also will get a portion of the salespersons’ commissions.
No, you don’t have to have any previous real estate sales experience, just a desire to do well and work hard.
All students must be 18 years old to take the Real Estate Salespersons test.
You don’t need a college degree, high school diploma or GED.
For a more complete list of real estate FAQ’s, Click Here
You need to be 18, or older, per NY State law, to apply for an insurance license.
If you accept any commission, service fee or other valuable consideration for selling, soliciting or negotiating insurance, you must be licensed to do so.
An insurance agent represents an insurance company(ies) and sells insurance for which ever company(ies) have appointed that agent. An insurance broker represents the public and can sell insurance for any insurance company licensed in New York State which deals with brokers
For a more complete list of Insurance FAQ’s, Click Here
State Licensed Real Estate Appraiser Apprentice applicants must do the following:
- Applicants must be 18 years of age or older to obtain Real Estate Appraiser Apprentice license
- Be supervised in the conduct of their services by a New York State licensed or certified appraiser who must cosign any appraisal report involving a federally related transaction.
- Utilize the same Uniform Standards of Professional Appraisal Practice as a state licensed or certified appraiser.
- Upon satisfaction of the application requirements of the Department of State, the Department will issue a renewable 2-year State Licensed Real Estate Appraiser Apprentice license.
- Should an Appraiser Apprentice acquire experience for licensed or certified appraiser, his or her application must comply with whatever examination and education requirements exist for that category at that time.
What are experience requirements? How many do I need for the types of appraisal programs offered at REEDC?
In accordance with guidelines set by the New York Department of State, real estate appraisers need to meet minimum experience hours that demonstrate their time spent in the field. These experience hours become an important factor, for example when an appraiser Apprentice wants to become a licensed appraiser.
|Appraisal Programs offered at REEDC||
Maximum Credit Allowed for Appraisal Review
|Certified Residential Appraiser||
For a more complete list of Real Estate Appraisal FAQ’s, Click Here
Home Inspection FAQ’s
Home Inspection is defined as the process by which a home inspector observes and provides a written report of the systems and components of a residential building including but not limited to:
- Heating System
- Cooling System
- Plumbing System
- Electrical System
- Structural Components – foundation, roof masonry structure, exterior and interior components or any other related residential building component recommended by the Home Inspection Council and implemented by the Department through the regulatory process.
Persons engaged in performing home inspections of residential buildings for compensation.
Anyone holding a license issued by the NYS Department of State (DOS) can perform home inspections of residential buildings for compensation. Exempt from this licensure requirement are architects and professional engineers licensed and currently registered by the NYS Office of Professions who are lawfully practicing within the scope of their profession. For more information on the Home Inspection Professional Licensing Act, visit the Department of Education’s website at http://www.op.nysed.gov
For a more complete list of Home Inspection FAQ’s, Click Here
An individual who for compensation or gain in the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.
The following are needed:
- Criminal background check
- Credit report check
- Pre-licensure testing
- 20 – Hours worth of Pre-licensure education
MLO applicants may not engage in mortgage loan originating activities until their application has been approved and published in the NY State Department Mortgage Loan Originator Department’s Weekly Bulletin.
For a more complete list of Mortgage FAQ’s, Click Here
Property Management FAQ’s
A person needs to be a licensed Real Estate Salesperson in order to receive payment for managing more than one property in the state of New York.
Students should take the RFM course provided by Real Estate Education Center in order to be qualified to work for residential and commercial buildings such as apartment complexes.
A Residential Facilities Manager is hired to manage residential and commercial buildings, whereas a Property Manager can be any person who has a Real Estate Salesperson license. Property Managers generally work with residential homes, individual rentals and small multi-family units.
For a more complete list of Property Management FAQ’s, Click Here