|
|
Real
Estate Licensing Information |
|
| Who
Needs a License? |
|
|
Anyone
who functions as an agent for another in a real estate transaction and receives
a fee for their services is required to have a license; in other words,
anyone who receives compensation for assisting with a real estate transaction.
Agents, property managers, mortgage brokers, to name a few, need to be licensed. New York State has two basic forms of licensure: |
|
• |
Broker: The broker is usually the owner or corporate officer and may act on their own behalf. |
• |
Salesperson:
The salesperson acts only with the express authority of the sponsoring broker,
no matter how long the salesperson has been licensed. |
|
A
third category, the associate broker, is for those who complete the requirements
for licensure as a broker but wish to remain under the direction of a principal
broker. |
|
| Salesperson's
License |
|
| The main requirements needed to apply for a saleperson’s license are: | |
• |
be at least 18 years of age |
• |
attend a minimum of 90% of an approved 45-hour course and pass the final exam |
• |
not have been convicted of a felony |
• |
have a sponsoring broker |
• |
pass the New York State exam. |
| |
|
| Broker's
License |
|
| Some of the requirements to become a broker are: | |
• |
be at least 19 years of age |
• |
have successfully completed the 45-hour salesperson's course |
• |
be actively licensed as a salesperson for at least one year (experience must be documented) or demonstrate at least two years in a related field |
• |
attend a minimum of 90% of an approved broker’s course and pass the final exam |
• |
pass the New York State exam |
• |
Attorneys admitted to the bar in NYS are exempt from the educational, exam and experience requirements, but must submit an application and fee. |
| License renewal fees are the same as the original issue fees. | |
| For license renewals, reciprocity and other information, please contact the NYS Department of State by phone at 518-474-4429 or via email at info@dos.state.ny.us. | |
**Call
the Department of State or the school where you took the course to receive
a license application.** |
|