New York Real Estate Continuing Education
Continuing education in real estate is a specialized learning activity to provide new skills or enhance existing knowledge. It helps real estate agents, brokers, and salespersons to update their awareness of new rules and regulations in the industry. They can then practice in a manner that protects the interests of buyers and sellers.
Courses of continuing education that satisfy the requirements of individual state boards must be approved by the real estate commission of the respective states.
Key Takeaways
- Introduction to Real Estate Continuing Education in New York
- What is real estate continuing education?
- Importance of continuing education for real estate professionals
- New York Real Estate Continuing Education Requirements
- NY Real Estate CE Requirements for Agents
- NY Real Estate CE Requirements for Brokers
- NY Real Estate CE Requirements for Salespersons
- Overview of NYS Real Estate Broker Continuing Education Requirements
- New York City Real Estate Continuing Education
- Additional CE requirements for real estate professionals in NYC
- Specialized courses available for NYC real estate agents and brokers
- Benefits of taking NYC-specific CE courses
- Finding and Completing Real Estate Continuing Education Courses in New York
- Approved providers of CE courses in New York
- Online vs. in-person CE courses
Introduction to Real Estate Continuing Education in New York
What is Real Estate Continuing Education
Agents, brokers, and salespersons in the real estate industry need to complete continuing education (CE) requirements to maintain their real estate licenses each year.
The rules regarding CE are set in state laws and administered by the real estate commissions of the respective states. At the bottom of the scale are states like Illinois and Kentucky requiring only six credit hours of CE for sales agents. At the other end are California and Wyoming with 45 hours of CE for sales agents.
Real estate continuing education requirements vary between states during the renewal of licenses too. In Texas, for example, new agents must complete 90 hours of a Sales Apprentice Education (SAE) course before renewing a license the first time after 2 years. However, subsequent renewals require only 18 hours of CE.
Continuing education is not limited to real estate agents only. Brokers too have to complete specific CE courses before they can renew their licenses.
Importance of Continuing Education for Real Estate Professionals
The purpose of continuing education for real estate professionals is mainly to keep agents and brokers updated on the new industry rules. These regulations are issued by the state boards for real estate from time to time and those in the industry must be aware of it to provide better client service.
Apart from learning about the latest updates concerning the sector, it is also an opportunity for agents and brokers to refresh their existing knowledge base. It includes niches related to real estate investing and property management.
A study conducted about the effectiveness of continuing education showed that almost 87% of agents reported that they learned new things in CE courses. They could therefore deliver better client service. Not only does CE provides the chance to know about the new regulation but also helps to fill gaps in the existing skillsets.
New York Real Estate Continuing Education Requirements
New York Real Estate CE Requirements for Agents & Brokers
At a rough estimate, about 8500 real estate agents work in New Youk City alone. This figure is drawn from the Bureau of Labor and Statistics. While they have gone through 77 hours of pre-licensing coursework before getting their license, they have to follow NY real estate CE requirements for renewing it.
Before 2019, only real estate agents had to complete CE requirements while brokers were exempted from this provision. However, in a change of regulations by the New York state as of July 1, 2021, all licensees have to complete 22.5 hours of CE courses, regardless of whether an agent or a broker. This NYC real estate continuing education is essential to renew licenses every two years.
So, what are the compulsory courses that form a part of NY real estate continuing education requirements?
- Fair housing laws – 3 hours
- Education about agency – 1 hour (2 hours for first-time renewals)
- Ethical business practices – 2.5 hours
- Legal matters including court decisions related to the state of New York – 1 hour
These four courses account for 7.5 hours of the total required 15 hours.
Apart from the mandatory courses, the remaining 15 hours of coursework may be selected from a list of topics approved by the real estate state board of New York. These are:
- Fundamentals of Retail Leasing
- Agency Law
- Agency Relationship
- State Licensure and Fair Housing
- Multiple Offers, Handle with Care
- Commercial Ethics
- Common Misconceptions to Avoid
- Commercial & Investment Real Estate
- Personal Safety in Real Estate
- Avoiding Deceptive Practices
- Millennials: Challenging the Traditional Real Estate Model
- Liars, Cheaters, and Thieves: Averting Client Catastrophe
All real estate agents practicing in the state must complete the New York real estate continuing education requirements of 22.5 hours within the two years between one license renewal and another. This rule is applicable to holders of a broker license too.
NY Real Estate CE Requirements for Salespersons
As explained before, real estate license holders in New York state must go through CE of 22.5 hours every two years to be eligible to renew their licenses. Compulsorily included in this 22.5 hours CE are three hours of coursework relatedto fair housing and/or discrimination in the sale or rental of real estate.
Check the end of the course description for “NYCEM” which indicates it is an approved lesson against the number of hours. If you find “FH”, it shows that the course has a three-hour fair housing requirement.
A Guide to the NYS Real Estate Broker Continuing Education Requirements
New York State has recently revised the Real Estate Property Law related to NYS real estate broker continuing education requirements. From July 1, 2021, brokers are no longer exempted from continuing education requirements.
The amendment changes the requirements of the course for renewal of licenses for brokers and may be explained as follows (as per the real estate board).
“at least 2.5 hours of instruction pertaining to ethical business practices, at least 1 hour of instruction pertaining to recent legal matters governing the practice of real estate brokers and salespersons in New York which may include statutes, laws, regulations, rules, codes, department of state opinions and decisions, and court decisions”.
The main point here is that exemptions are not available anymore for continuing education for brokers with more than 15 years of experience in this field. They too must complete the 22.5 hours of CE starting July 1, 2021.
New York City Real Estate Continuing Education
Additional CE Requirements for Real Estate Professionals in NYC
A salesperson completing a state-approved course for brokers can claim credit for it during the current two-year licensing renewal period.
However, the broker course alone does not satisfy the CE requirements alone of agents. They have to go through 2.5 hours of ethical business practices and 1 hour of recent legal matters. The amendments now form a part of New York real estate continuing education requirements.
Additionally, while the 22.5 hours of CE remain the same, agents, brokers, and other licensed real estate professionals must complete two more topics, the details of which are given below.
- S.538-B: Licensees should take 2 hours of CE on “implicit bias” as a part of the 22.5 hours requirement as given in Article 12-A of the Real Property Law.
- S.979-A: Licensees must take two 2 additional hours of CE on cultural competency. It is also a part of the 22.5 hour-requirement as given in Article 12-A of the Real Property Law.
These are some of the additional requirements of CE for real estate professionals in NYC.
Specialized Courses Available for NYC Real Estate Agents and Brokers
The NYC real estate agents and brokers 22.5 hours of continuing education requirements can be categorized into two sections.
One is the 11 elective hours and the other is the 11.5 mandatory hours. The stipulation of elective hours can be fulfilled by taking any Department of State-approved continuing education qualifying course, whatever the topic might be.
This rule applies to all those in the New York real estate business such as salespersons, associate brokers, and brokers.
The only exemption to the NY real estate CE requirements is for attorneys who are admitted to the New York State Bar.
Benefits of Taking NYC-specific CE courses
The purpose of continuing is to ensure that agents and brokers are updated about the latest rules and regulations governing the industry in the state. These laws change from time to time and it is necessary to be aware of them to provide optimized services to clients.
The modules of CE are decided by the respective state boards of real estate keeping specific requirements in mind. Hence, CE courses in NY are related to the state and consider the exclusive real estate scenario in the state. If you are a practicing real estate professional in NY, courses and subjects that matter in the state will be important and beneficial for you.
Moreover, CE is not only about learning new things, but it also fills gaps in your existing knowledge base.
Finding and Completing Real Estate Continuing Education Courses in New York
Approved Providers of CE Courses in New York
If you are looking for approved providers for CE courses to fulfill NY real estate continuing education requirements, you will be spoilt for choice. Browse the Internet and you will come across providers in various locations ranging from the city metro areas to the suburbs.
In case you prefer in-person classes, you will surely get a centeror institution near you to minimize commuting distance. Such an issue does not arise of course if you opt for the convenience of online courses.
Online vs. In-Person CE courses
In today’s digital environment, online courses score over in-person classes on many counts. The most important is the convenience factor. Online classes use flashcards, e-textbooks, audio, and video lectures as teaching methods. All that you need to attend classes and study is access to an Internet-enabled device from any location of your choice.
However, if your learning style is traditional and you prefer face-to-face interaction where all doubts can be cleared immediately with the instructor, in-person classes should be preferred. You will also have hard copies of textbooks to make notes on margins, just as you did in school or college.
To get the best out of real estate continuation courses in New York,select the learning method you are more comfortable with.