Flipper/Rehabber · Patchogue, NY · Member since 2015 · 73 posts · 29 votes
Hi BP. I just finished the required 75 hours of class time to get my NY real estate salesperson's license and wondering if anyone can tell me their typical fees/arrangements in NY with their sponsoring broker and give any recommendations? I already have experience as a real estate paralegal, title closer and mortgage loan officer so I really just want the license to use for my own investing. Was surprised to find out that you cannot register to take the NY state test unless you already have a sponsor broker.
I want to be completely upfront to any broker I approach that I'm planning to use the license strictly for my own investment purposes and hopefully can work out a straight fee arrangement. My real estate background means I'd be very low maintenance for them but not sure what to propose in terms of arrangements and fees? Any suggestions I'd greatly appreciate. Thanks!
Hi @James Caruso. You don't actually - I was wrong about that. You are able to take the test from your school where you take the 75 hour course as well as the state exam but once you pass both and want to get your actual license, then you have to provide the broker's name and ID number online and he or she will have to go online and agree to sponsor you. Then that broker will be mailed your license. I have now passed the test and am still interviewing brokers so you'll have time after if you want to go ahead and get the tests out of the way first. Good luck!
Hi, who did you both end up going with? I'm preparing for my move to NY and I started to do some research online. I want to be able to get my license before I arrive there and finding a sponsoring broker is part of my to-do list.
Hi @Samir Goel. I'm happy with them but you are completely independent so if you know the forms to use to put in an offer, create a listing, etc, then it's great. Had I not worked for a traditional broker first, I'd be lost! So if you have some basic knowledge, I'd definitely recommend but if not, then Id say it's best if you go elsewhere initially where you can get some agent training. Good luck!
Im just about to take my salesperson exam for New York . Looking for any advice how to find sponsor brokerage . Any tips would be appreciate it .
Thank you
Malgorzata, the school you took the class through should have some companies that advertise. What are you looking to do, commercial, residential? And what areas?
Find someone who looks like a market leader in the area and contact them.
@Malgorzata Gorniak Manhattan is a big island. You should try to become an expert in a certain area first. Find a firm that you think can offer you the tools to succeed. No one can do the ground work for you. Interview multiple firms!