GETTING STARTED IN REAL ESTATE
So, you think you'd like to get a real estate license, ehh? You'd like to quit that horrid day job and make a zillion dollars, ehh? You love people and this is a way to help them, ehh? Well, it's not as easy as you think to get a real estate salesperson's license in New York and it can be harder to keep one. This is a small crash course in getting a real estate license in New York State.
Once again, keep in mind, we can't endorse any real estate companies, but I will give you hints along the way as to how to choose one.
1. Do I need experience to become a salesperson?
No!! New York does not require any experience to become a salesperson -- not so however once you are licensed and wish to become a broker.
2. Can I be a broker without being a salesperson?
No!!! Can you be the boss before knowing how to do the job? Uh uh.. nope.. no way!
3. What kind of a person should I be if I want to sell real estate?
Any kind will do, but hopefully you will not get into the business just because you like people! LOL That changes... trust me! You need to want to help people find their dream home, but you also must like contact with all facets of the general public, be able to handle disappointment and rejection, realize it is a commission only job and you won't receive a regular salary, like to drive a lot (there are times you will show many homes to a customer!), work odd hours (it's not just 9-5) and know that in the end you are doing a service for general public that they 'think' they don't need you for.
4. Do I need any formal education to become a salesperson?
You do not need to be a high school graduate to become a licensed real estate salesperson, but you will need to complete a 45 hour salespersons' prequalifying course before you can receive a license.
5. How much money can I make in real estate?
How busy do you want to be? How energetic are you? These are questions only you can answer. You will make $$ based on what you put into the business. Remember - it's commission only.
6. What does it cost to get into real estate?
That varies by county, but you can expect the cost of your prelicensing course, the NYS exam ($15 each time you take it), the cost to join the local board of Realtors, the cost to join the Multiple Listing System in your area, and there may be a charge to join the firm you wish to affiliate with. When you add all of this together, you are looking at approximately $750-1,000 before you make a dime in the business.
7. Do I have to join a real estate board?
If the broker you are going to affiliate with is a member of the local board of Realtors, then you must be a member of the board as well. Check with the local board in your area -- this is not always cast in stone. You DO NOT have to be affiliated with a broker to take the salespersons' course.
8. Can I work part time? Can I keep my day job?
If you choose to join a firm that accepts part time agents, then yes, you can work part time. You should ask the broker you interview with if they accept part time agents -- many do but some don't. Some feel unless you put your heart and soul into the business full time, you would not be advantageous to their firm. They feel that with the cost of training and the like, unless you are full time, you will not reciprocate back with full time work.
9. How do I choose a broker?
Read the paper -- check the sales help wanted's. Many brokers advertise. If not, look around and see who is advertising in the area you want to work in, and CALL THEM! The worst they can do is say, NO, We are not hiring new salespersons. Ask your friends who they know that might be in the real estate business and hiring. Cold call in the phone book. Remember, as a salesperson, you are the commodity. Without you, the broker would have no agents - so investigate and ask.
10. What is the process of getting a license?
First you have to take a prelicensing course - whether it is with PIRT or another accredited school in New York. Once you get your course under your belt, you will have to take the NYS examination. It is given at various locations in NY. As we are based in Watertown, the state exam is given every other month at the Dulles State Office Building, Washington St, Watertown. However, you must register with the Department of State to take the exam - you cannot simply walk in and take it. The dates can be found at the DOS web site, www.dos.state.ny.us under the licensing menu. If you do NOT plan to affiliate with a broker immediately do not take the state exam right away -- from the time you take the state exam and pass it, you must affiliate with a broker within one year. If you don't, you will have to take the state exam again. If you plan to wait, the length of time the course is good for is (at this writing) unlimited -- it doesn't expire.
Now that you have passed, and you have chosen a broker to affiliate with, you will need to check with them as to the procedures for the office and if they are a member of the local board of Realtors.