Applicants for Real Estate Broker and Salesperson Licensure
Do I need to be licensed?
Generally, Article 12-A of the Real Property Law provides that anyone who, on behalf of another and for a fee, 1) negotiates a sale, exchange or rental of real property, 2) collects rent, or 3)
negotiates a commercial loan secured by a mortgage must be licensed as a real estate broker.
What is the difference between a real estate broker and a real estate salesperson?
A real estate broker is responsible for the supervision and conduct of the real estate brokerage business. He or she applies for and holds the license on behalf of the brokerage. This person is known
as the "representative broker." A real estate salesperson works for and is supervised by the representative broker. The salesperson acts as the representative broker's agent. All listings, although
perhaps negotiated by a salesperson, are accepted by the representative broker.
How do I become a real estate salesperson or broker?
In order to qualify for licensure as a real estate salesperson, an applicant must have satisfactorily completed a 75 hour salesperson qualifying education course in real estate approved by the
Secretary of State, and have passed a qualifying examination administered by the Department. An applicant who completed the 45 hour salesperson qualifying course prior to July 1, 2008 may complete
the 30 hour remedial course in order to qualify for licensure.
In order to qualify for licensure as a real estate broker, an applicant must have at least two years of experience as a licensed real estate salesperson or at least three years of experience in the
general real estate field (e.g., buying and selling your own property, managing property owned by your employer), have satisfactorily completed both the qualifying salesperson course of 75 hours and
an additional 45 hour real estate broker course as approved by the Secretary of State, and have passed a qualifying examination administered by the Department.
Who licenses mortgage brokers?
Anyone who negotiates or attempts to negotiate any mortgage loan other than a mortgage loan on residential property, in the state of New York, is required to be licensed as real estate broker, or as
a salesperson associated with a real estate broker. This license is issued by the NYS Department of State.
To negotiate a mortgage loan on residential property (one to four family building) registration with the New York State Banking
Department is required.
If I am a real estate management company, do I need a real estate broker's license?
That depends on what services you provide. If you collect rent or place tenants in vacant spaces on behalf of your landlord client, the answer is yes. If, on the other hand, your services are
strictly maintenance, the answer is no. you are not acting as a fiduciary (not handling another person's money).
Whom do I call if I am not sure whether I completed my 22.5 hours of continuing education during my license
term?
Contact the school(s) you attended. Schools are required by law to maintain course completion records for three years. You may request duplicate certificates from the school(s) in the event you are
audited.
In order to renew my salesperson license, I completed the 45-hour broker qualifying course. Can I apply the extra 22.5 hours to my next license term?
No. The law clearly states that continuing education must be completed within each license term.
I could not complete the continuing education, but I wish to renew my license anyway. Can I apply for an extension?
Please refer to §177.6 in the real estate law booklet. Extensions will only be granted in bona fide hardship cases. You must submit the following, preferably prior to your license expiration: a
written request for the extension, completed renewal form, fee, and original documentation demonstrating your hardship; i.e., medical documentation.
I think I might be exempt, but I am not sure when I originally became licensed. Can you tell me when I was first licensed?
No. The Department of State only maintains seven years of real estate records. You may possibly determine your original date of licensure if you know when you completed the salesperson course and how
long it took you after completing the course to apply for your license.
