Real Estate Profession in NY
If you want to be a real estate agent in New York, keep in mind there are two types. A real estate broker and salesperson. The difference is the salesperson is required to perform a 75-hour course approved by the Secretary of State and to complete an exam to be accepted a license. A broker is two years of licensed experience or three years in the general field of real estate. The broker must also have 75-hour course for salesperson position and 45-hour course included for the broker position, plus the passed exam. The exam is administered by the Department of State. Also, must be of age, 18 years old, to be accepted in the real estate profession.
In 2006 more than 27,000, real estate brokers/salespeople were operating in New York according to the records. Why so many had attempted real estate business is that it seems easy to make a large sum of income. But in reality, it’s hard work, need there are the requirements, as earlier mentioned. The reason why it seems easy is that its small amount of training and money needed.
The salesperson real estate course has certain lessons required to learn. These lessons are estates and interests, real estate mathematics, liens and easements, licensing law and real estate regulations. There are nice places to learn courses at, Learning Annex, Baruch’s Real Estate Institute and New York Real Estate Institute to learn a large variety of courses. The Learning Annex cost a total of $275.00 because there’s the $50.00 materials fee for the classes and the $225.00 to take their courses. But the New York Real Estate Institute has been around since 1987 and had 50,000 students graduate.
With all these people joining the real estate profession, there is a big competition for amateurs and veterans. It isn’t easy to do this profession though. A realtor can go for a while without selling a property. There’s a thing called a commission, which is a listing for houses to be sold. The realtor needs to think about the market rate, which is six percent of the property’s sales price. There are rules if more than one realtor is involved in a property sale if that’s the case the money is split. It can be a doggy dog world and not everyone can win, but it never hurts to try.