A license is required to buy and sell real estate in New York, regardless of whether you want to be a real estate agent or broker. The cost of getting a real estate license in New York varies depending on the type of license you are applying for. In addition, it will depend on the school at which you take your real estate pre-licensing course.
This blog will look at the total cost of obtaining a New York real estate broker license, including application fees, licensing fees, and other related costs.
If you’re considering becoming a real estate broker in New York, you’ll need to know the fees associated with obtaining a broker’s license. The process involves more than just a one-time fee, which can be daunting for anyone unfamiliar. We’ll also look at the types of licenses available and the steps needed to get your license.
Here are some costs associated with getting a real estate license in New York and whether it is worth it.
The first step to getting your real estate license in New York is to take the pre-licensing course. Local real estate schools typically offer this course for around 75 hours. The cost of this course can vary from school to school, but it usually ranges from $149 to $350+.
Once you have completed the pre-licensing course, you must pass the New York real estate licensing exam. The cost of this exam is $15.
Once you have passed the exam, you must apply for your New York real estate license. This application fee is $55.
When you add up the cost of the real estate school, the licensing exam fee, and the application fee, the total cost of getting a real estate license in New York is usually around $325+.
A career in real estate can be financially rewarding and personally satisfying. In New York, the median annual salary for real estate agents is $61,890, according to the Bureau of Labor Statistics. The top 10 percent of agents in the state make more than $119,310 annually. Additionally, the job outlook for real estate agents in New York is projected to grow 8 percent from 2016 to 2026, faster than the national average.
Still have questions about the costs of getting a broker's license? We have answered some of the most pertinent questions regarding the New York real estate broker license fees.
Renewing a real estate license in New York is $55 every two years.
The cost of getting a broker license in New York varies depending on the school you take your pre-licensing course from, but the total cost is usually around $325+.
Yes, you can apply for a New York real estate license online. The New York Department of State website has a system for online licensure applications.
Getting a real estate license in New York is a great way to start a rewarding career in real estate. The total cost of getting a real estate license in New York is usually around $325+, but this cost can vary depending on the school you choose to take your pre-licensing course from. Additionally, renewing a real estate license in New York is $55 every two years.
Those looking to deal or invest in New York real estate should know home prices and real estate values in NY. Learn more about real estate prices in our My Real Estate Trend resources.