Learn about the benefits of online pre-license courses for NY real estate license
New York real estate is one of the most sought-after and valuable markets in the country and holds a unique appeal and charm in the eyes of buyers.
The Empire State is renowned for its world-class apartments, villas, penthouses, and luxury neighborhoods which command ultra-premium valuations from the wealthiest of buyers.
Manhattan, Brooklyn, Albany, Philadelphia, Rochester, and Buffalo are some of the hottest markets in NY with strong growth forecasts.
Home to sprawling urban metropolises, towering skyscrapers, historic landmarks, world-class lifestyle choices, and a diverse culture, New York is a global real estate hotspot with a distinctive appeal and timeless charm.
Working as a real estate agent in New York’s booming real estate landscape can be a rewarding and fulfilling career path.
Whether you want to build a profitable secondary income source or embark on a fulfilling, long-term career path in real estate, New York State can offer you the ideal launchpad for your professional goals.
Did you know that the top real estate professionals in NY can earn upwards of $180K annually and enjoy a flexible work-life balance?
If you are keen to pursue a career in NY real estate, now is a good time to enter the market and prepare for upcoming opportunities.
To work as a real estate agent and earn commissions, you will have to obtain your New York salesperson license first.
Getting your license is a mandatory requirement to work with clients in NY and help them buy and sell properties in the state.
One of the most important license requirements is completing qualifying education and meeting the licensing guidelines of the NYSDOS (New York State Department of State).
As per the NYSDOS, every applicant must complete the mandatory real estate pre-licensing course in New York to qualify for a salesperson license.
If you are keen to pursue a career in real estate but are not sure how to approach the education requirements, this article will answer all your questions in detail.
What is Pre-license Education important?
Pre-license education refers to an umbrella term that encompasses various courses and topics related to real estate and its laws, principles, processes, policies, and frameworks.
The purpose of pre-license education is to gain knowledge about the real estate industry, markets, and related aspects of working in the profession.
In New York, it is mandatory to complete pre-license education to become eligible for a real estate license and a career.
As per the New York State Department of State (NYSDOS), you must complete 77 hours of real estate license course in New York to take the state licensing exam.
Since passing the salesperson license exam in NY is mandatory for getting your license, completing education becomes an essential stepping stone to starting your career.
Many students often wonder whether completing pre-license education has any practical benefits beyond just a mandatory state requirement.
Let us walk you through some of the main benefits of pre-license education for your career:
1. You will gain knowledge:
Completing pre-licensing education will equip you with the knowledge and understanding of how the real estate industry works, its laws, principles, guidelines, and your duties and responsibilities.
Some of the courses you will cover during your education are:
- Principles of Real Estate
- State and Federal Laws
- Real Estate Finance
- Law of Agency
- Consumer Rights
- Promulgated Contract Forms
To work with clients, earn commissions, and stand out from the crowd, you must be knowledgeable and thorough about your profession.
2. Regulatory Compliance
In New York, it is mandatory for every aspiring professional to be legally compliant with the NYSDOS guidelines and regulations.
To obtain your license and work with clients, you must first complete pre-license education from a state-approved education provider.
Completing pre-license courses will help you become compliant with the NYSDOS licensing requirements so you can focus on your career growth and success.
3. Preparing for the exam
If you want to obtain your license, you must take and pass the NY salesperson licensing exam by scoring at least 75 percent or above on the test.
Completing pre-license courses will help you prepare for the multiple-choice questions you will face in the test.
Since the test curriculum is based on the topics you will cover during your 77 hours of education, the more you understand the courses, the better will be your preparation.
4. Opportunities for networking
During your pre-license course preparation, you will meet fellow students, peers, and experienced trainers and instructors which will help you grow your network.
Completing pre-license courses will give you the opportunity to forge professional relationships and learn from others.
Since real estate is a relationship driven industry, having a strong network will help you grow business opportunities and attract more clients.
Clearly, there are many pros of completing education yet despite that many students often wonder whether completing pre-license education is worth it or not.
5. Pre-Licensing Education Costs
Now that you have learned about why completing pre-license education is a must, let us take a closer look at what it costs.
As per the New York State Department of State (NYSDOS) education requirements, every applicant must complete 77 hours of pre-licensing education as a mandatory requirement.
Before deciding on an education provider, you must ensure that they are approved and accredited by the New York State Department of State (NYSDOS).
In NY, you can choose from a range of real estate colleges, schools, and online course providers that can help complete your education requirements and prepare for the exam.
Many pre-license education providers offer specific course packages and learning modules to meet the unique learning needs of students.
As a student, you will have the flexibility to choose between a physical, classroom-based real estate college, or enrolling in an online, virtual learning environment.
The best real estate online courses in NY are generally in the range of $199 to $700, depending on the course provider, medium of content delivery, and the course package.
You can choose the desired course package and format on the basis of your learning needs, timings, and preferences.
6. Benefits of working in NY real estate
In New York’s steadily growing and popular real estate landscape, there are abundant opportunities for growth and business development.
However, to achieve your goals, you must be prepared to put in the hours and efforts and invest in your career.
To stand out in a competitive market like NY real estate, you must be prepared to embrace education, knowledge, and develop a mindset of continuous learning.
Yes, you will have to work in a dynamic, competitive industry and face challenges but this experience will give you the opportunity to become financially independent and help people.
Let us walk you through some of the exciting and rewarding benefits of working as a real estate agent in NY.
7. High-income potential:
As a real estate agent, your earning potential is pretty much unlimited because the more deals you close, the more you can earn in commissions.
Real estate agents in NY can easily make a six-figure income annually in addition to additional commission and job perks.
Since there is no upper limit to how much money you can make in real estate, top agents can make as high as $200K in NY’s flourishing real estate landscape.
The best part is that as you grow in your career, you can choose to set your own commission rate to directly control your earnings.
8. Flexible schedule:
Better work-life balance and career flexibility are some of the most exciting benefits why people choose real estate as a career choice.
As a real estate agent in NY, you can establish your own work schedule and choose to define your own working hours.
Imagine having the flexibility to influence your work timings and appointments - as long as you are meeting your goals and targets, you need not worry about anything else and can choose to work as and when you like.
You can also choose your vacation hours, and time off and enjoy more professional independence which is unlike any traditional nine-to-five job.
9. Career independence:
The independence to steer your career’s trajectory on your own is an alluring benefit for many who crave professional autonomy.
If you have the entrepreneurial spirit in you and want to be your own boss, starting a career in NY real estate can help you achieve your goals.
Real estate agents can start their own agency and brokerage firms which allows you to choose your own clients, negotiate your commission, and close deals on your own.
At the beginning of your career, you will have to work under the supervision of a senior broker but as you gain experience and build your clientele, you can choose to chart your own professional path.
10. Lower barrier of entry:
Compared to other high-paying career paths, working in real estate does not require having a bachelor’s degree or spending years to get a college education.
You only need to fulfill the qualifying educational requirements established by the NYSDOS; you will be eligible for applying for a license.
To become a real estate salesperson in NY, you need a high school diploma or GED equivalent in education to get started.
The advantage is that you can easily enroll in an online NYS real estate course and even complete the pre-license education from anywhere.
After getting your license, you only need to complete additional continuing education courses every few years to maintain your license’s validity.
How to choose a Pre-license course in NY
If you are ready to embark on your journey to becoming a successful real estate agent in NY, the first step is to choose the right education provider to meet your goal.
Not all real estate colleges and courses are created equal - and to maximize your preparation and increase your odds of passing the NY salesperson licensing exam, it is important to choose the right education provider.
In NY, there are countless education providers offering a plethora of pre-license education courses and learning packages to students.
You can choose to join a classroom-based, real-world college environment or complete your 77 hours of pre-license education from an online New York real estate course.
The number one factor to influence your decision should be to ensure you are choosing a state-approved education provider only. This will help you learn from certified trainers with an updated, accurate curriculum.
Secondly, you must evaluate whether your education provider has a good pass rate or not. This will help you assess how good they are at helping students pass the licensing exam.