NYS 75-Hour Salesperson Overview:

Have you considered a career in real estate? Well here is some good news if you want to become a real estate agent. A recent survey of 65,000 conducted by CareerBliss ranked a career in real estate as one of the happiest jobs in the United States for multiple reasons.

  • You have the flexibility to create a work schedule that fits your lifestyle.
  • If you enjoy meeting new people, you have that opportunity almost every day.
  • Career advancement that is under your control and allows you financial freedom.

According to the Bureau of Labor Statistics, New York State ranks as the top paying state for realtors. The average salary you could expect after you become a real estate agent could be as much as $94,000 a year. Once you become a licensed real estate agent, the more time you put into your career, the more your income potential can grow.

Your Responsibility as a Salesperson: 

In New York State, you are required to obtain a license before you become a real estate agent. To be eligible to apply for this license, you must:
  • Be at least 18 years of age.
  • Provide a certificate of completion for the required 75-hour Real Estate Salesperson course.
  • Take and pass the School & State Exam with a minimum of 70% passing grade.
  • Have a New York state licensed Real Estate Broker that will sponsor you.

The Salesperson School & State Exam: 

Once you have successfully completed the 75-Hour Real Estate Salesperson course, you will be eligible to take the School & State Exam to become a Real Estate Agent. The School Exam is administered by Leap EDU at a Leap EDU location, while the State Exam is administered by the New York Department of State (NYDOS) only in a NYDOS approved testing location.

The School Exam: 

In order to schedule your School Exam please speak to a Leap EDU Career Specialist. You are permitted to bring a battery or solar operated, numeric-only calculator. Cell phones and other electronic devices are not permitted. You will be allowed 90 minutes to complete your test. To pass the exam, you will need to correctly answer 70 percent of the questions asked.

The State Exam: 

The State Exam requires you to create an account on eAccessNY to schedule your State Exam. When you schedule your exam, you will be asked to print your “Summary of Your Submission,” which will include your exam information and your candidate number.On the day of your exam, you will need to bring a government-issued photo ID and your “Summary of Your Submission.” You are also permitted to bring a battery or solar operated, numeric-only calculator. Cell phones and other electronic devices are not permitted. You will be allowed 90 minutes to complete your test. To pass the exam, you will need to correctly answer 70 percent of the questions asked.

Once successfully passing both your School & State Exam, you will need to find a sponsoring Broker in order to become a licensed Real Estate Agent. This can be accomplished by finding a job with a licensed Real Estate Brokerage. Upon finding a sponsor, you will then be permitted to complete your New York State Real Estate Salesperson Application to become a licensed Real Estate agent.

If your are searching for a licensed Real Estate Brokerage please feel free to visit our Job Placement Page

Types of Real Estate Salespersons: 

    Listing Agent 

    As a “Listing Agent” you will represent the properties that are being sold. You will be responsible for listing the seller's property through numerous media / social media outlets and or on the Multiple Listings Service (MLS). Marketing the property through various advertisements such as flyers, direct mail campaigns, open houses, and email blast will also be vital to the selling of the property.

    Buyer Broker /Agent 

    As a “Buyer Broker / Agent” you will represent the buyer who is looking to purchase a property. Typically, the client signs a “Buyer Representation Agreement”, which is designed to protect the Buyer Broker / Agent from losing their commission after spending their time and resources to show the buyer various properties. In return, the Buyer’s Agent shows their client a variety of properties until the client has found the property of choice.

    Dual Agent 

    A “Dual Agents” works for both buyer and the seller on the same property transaction. The Agent must discloses and get consents of both parties in the written notice of their relationship. As a “Dual Agent” you must also clearly explain the client's inability to provide exclusive fiduciary duties to either party, and neither party can expect the Broker’s undivided loyalty in a Dual Agent capacity. As a “Dual Agent” you get the benefit of receiving commission from both parties as well as have the option to lower your commission in order to close the deal rather than split it with another agent.

What topics will be covered?

Having to take a 75-hour course in real estate sales may sound like a lot at first. However, in comparison to educational requirements for other careers, it is one of the fastest training options to get a jump-start on a financially rewarding career.

During your course, you will learn the ins and outs if the New York real estate market, including learning about different types of properties, environmental concerns, property valuation and laws pertaining to contracts and fair housing.

You have options for completing your 75-hour course. These include a flexible 20-module program that can be completed at your own pace or an accelerated program where you could complete your required 75 hours a few weeks. This makes it easy to become a real estate agent even if you have a busy schedule.
Agency and Real Estate Brokerage
Learning the difference between an Agent and a Broker is a basic and essential factor. Understanding the fundamentals will allow you to grow in the Real Estate arena.
Commercial and Investment Properties
You will learn the foundations needed to provide commercial and investment real estate brokerage services. Understand what buyers and tenants expect you to know about various property types. How to do a Financial Analysis and how investors compare opportunities. You will also cover commercial leases, Requests for Proposal, and Letters of Intent.
Condominiums and Cooperatives
You will learn the difference between a CO-OP and a Condo. You will understand the difference between the two ownership forms. A description of the purchase analysis will be provided. Understanding the financing aspect of Condos and the the tax advantages.
Environmental Issues
Covering the real estate issues that deal with asbestos, lead, mold, and radon in residential and commercial structures. Understand disclosure and record keeping for the presence of health hazards and environmental issues.
Estates and Interests
We will cover the bundle of rights, land, real estate, real property, and personal property when pertaining to estates and interests. You will learn the uses of real property, freehold estates, leasehold estates, and forms of ownership. You will also review trusts and ownership of real estate by business organizations.
Human Rights and Fair Housing
This topic covers real fair housing laws and how to offer equal professional service to all. Learn about what is important to today’s real estate professional. Case studies help students apply the fair housing laws to real-world situations that they may encounter in their own businesses.
Income Tax Issues in Real Estate Transactions
Understanding the Taxpayer Relief Act of 1997 and learning about the Federal Income Tax Treatment. You will learn what are capital gains and review short-term gains, long-term gains, and the sale of a primary/principle residence $250,000/$500,000 rule. Federal tax rules on acquisition and subsequent financing will also be covered.
Independent Contractor / Employee
You will learn the nature of the independent contractor relationship, what defines an independent contractor, and the common law that deals with independent contractors. You will review the 1986 independent contractor laws and discuss compliance with the law. The main focus will be the elements of the independent contractor relationship.
Introduction to Construction
You will learn what land can be used for construction and the plans, building permits, codes, and certificates of occupancies that are required in the construction process. Topics to be reviewed are specific NY site requirements, site use, structure, and energy efficiencies. You will also review major systems such as heating, air conditioning, plumbing, and electrical
Land-Use Regulations
You will learn the bundle of rights that landowners have and the “As of Right Zoning”. You will review the private land use controls and deed restrictions covenants that pertain to state environmental quality review. You will also learn what power police have in regards to land owners, FHA approvals, and the zoning board of appeals.
License Law
You will learn the purpose of the licensing law and the different categories of licensure such as Real Estate Broker, Real Estate Associate Broker, and Real Estate Salesperson. Responsibilities of licensure, education requirements for obtaining licenses, the duties that are performed that require licensure, and maintaining a license are also covered.
Liens and Easements:
Mortgage Brokerage
You will learn the purpose of taxation and why we tax land and improvements as opposed to sales and income taxes. You will learn how to calculate real estate tax. You will review assessed values, tax rates, the various taxing jurisdictions. You will also learn how to protest assessments, who is responsible for tax assessments, tax liens, and about the grievance board.
This topic will cover all there is to know about mortgages. We will cover all bases like, how to choose the right lender, understanding interest rates and more. Recommending the right lender for your client is crucial when buying or selling a home for your client.
Municipal Agencies
You will learn the description and function of governing New York agencies such as city/town council, village board of trustees, planning board, zoning board, architectural review board, building department, planning department, and tax assessors.
Property Insurance
You will learn the purpose of Property Insurance and the choices that are made in purchasing property insurance. You will learn the difference types of policies, the standard coverage of home-property insurance, liability insurance, and medical insurance. Basic types of homeowners and tenant policies will be reviewed and the amount of insurance needed.
Property Management
Learn how to effectively manage a property. Topics ranging from property maintenance,risk management, sustainable practices, and working with the board associations. This is a comprehensive overview of many of the elements to consider when managing properties.
Real Estate Finance
You will learn how to properly deal with residential real estate financing and mortgage lending trends. This topic will cover special financing alternatives, government influences on real estate finance, new and affordable loans, seller financing, and all aspects of loans.
Real Estate Instruments - Contracts, Deeds, & Leases
Learn to negotiate contracts for your clients benefit and get the most. Understanding the laws of obtaining Deeds and executing leases will play a big role as well. The information taught in this topic will pay an instrumental role in your path to success.
Real Estate Mathematics
Almost every single transaction in real estate involves numbers, so therefore anyone pursuing a career in real estate should be proficient with numbers. This topic will help you perform numerical calculations with confidence. It will assist in sharpening the use of simple arithmetic in general, and in the field of real estate in particular.
Taxes and Assessments
You will learn the purpose of taxation and why we tax land and improvements as opposed to sales and income taxes. You will learn how to calculate real estate tax. You will review assessed values, tax rates, the various taxing jurisdictions. You will also learn how to protest assessments, who is responsible for tax assessments, tax liens, and about the grievance board.
The Law of Agency
The Law of Agency is the general area of commercial law dealing with a set of contractual, and non-contractual fiduciary relationships that involve the Agent, that is authorized and appointed to act on behalf of the client which is called the principal, to create legal relationships with a third party.
Title and Closing Costs
You will learn the significance of the title closing and why it’s important to those who attend. The functions of those who attend a closing, and the importance of recording acts and what will be done at closing. You will cover the consummation of a real estate transaction, existing liens against the real property, and how the purchaser will pay the balance of the purchase price. Closing costs and adjustments will also be taught.
Valuation Process
Learn the tools, techniques and process to how real estate is valued. You will learn how to identify the market value of a residential home and how to identify the market value of an income producing property. Understand the purpose of an appraisal. Increase your real estate transaction literacy and determine the fundamental building blocks of real estate value.