With all of the good news in the New York housing market recently, it would seem that 2010 is going to be one of the best years that New York licensed real estate agents have seen in years. For those agents that want an even bigger career boost this year, if you are at least 20 years old and have held an active real estate license in New York for two years, you could upgrade your real estate career with a New York real estate broker license.
There are several types of broker licenses that you can apply for. An Individual Broker license allows you to market yourself as a “Licensed Real Estate Broker” working under your name. If you wish to work under the supervision of another licensed broker, then you would want to apply for an Associate Broker license. This license requires the broker that you are working under to sign off as the broker of record on your license application. In addition, there are also Trade Name Broker, Partnership Broker, Limited Partnership Broker, Corporate Broker, Limited Liability Company and Limited Liability Partnership Broker licenses available.
If you do not have a New York real estate license with two years of experience, you can still qualify to get your broker license. The New York Department of State allows you to use three years of experience in another non-licensed area of real estate, or a combination of experiences, to apply for a broker license. There is an experience supplement that corresponds to each experience type. If you have a New York real estate license and have two years of experience, you will use supplement A. Without a license, but with three or more years of experience in the real estate field, use supplement B. Any combination of the experience types would use supplement C.
If you have not received a New York real estate license, then you will need to complete the 75 hours of pre-license real estate classes as well as the 45 hours of required broker courses that must be completed successfully before you will be permitted to sit for the New York State real estate broker examination. The pre-licensing course can be taken through a Department of Licensing approved online real estate school.
With all other qualifications met, only a passing grade on the broker examination remains. Once you have passed the exam, it is time to submit your application package to the Department of State. A completed application package should include the notification that you have passed your exam along with the original certificates from the pre-license and broker courses containing the raised seal. The appropriate experience supplement and application should be filled out entirely and the package submitted with the proper fee enclosed.
Experts predict a return to the sales rush that was once the norm for springtime in New York. Instead of enjoying the rebounding housing market in New York by earning fantastic commissions, drastically increase your income with yourNew York real estate broker license.
Want to find out if you have what it takes to be a Real Estate Agent or Broker?
About David Goldstein — David Goldstein is an Owner and Founding Partner of Colibri Real Estate, LLC. which operates online education providers Colibri Real Estate, Insurance License Express and License Tutor. Follow him on Twitter.