Real Estate Certifications
Real Estate Salesperson License
The course has increased from 45 hours to 75 hours. A salesperson applicant will be required to show proof of completing 75 hours of approved education. Those salesperson applicants who completed the 45 hour salesperson course prior to July 1, 2008 may complete the additional 30 hour qualifying course to satisfy the 75 hour requirement.
Real Estate Broker License
A broker applicant will be required to show proof of completing 120 hours of approved education. Broker applicants will be required to show proof of completing the 45 hour salesperson course, the 30 hour remedial course and the 45 hour broker course or the 75 salesperson course and the 45 hour broker course. You must be 20 years of age to become a NYS Licensed Broker. Also, you must have 2 years experience as a New York State Salesperson before becoming a New York State Broker.
New York Real Estate Salesperson's Supplement Course (30-Hour)
This 30-hour supplement course is for students who have successfully completed the 45-hour New York Real Estate Salesperson's course and now need to meet the new 75-hour licensing course requirement. Topics include license law and regulations, law of agency, real estate instruments, estates and interests, real estate financing, land use regulations, an introduction to construction, valuation, human rights issues, fair housing law, real estate mathematics, and environmental issues.
Differences Between a Salesperson and a Broker
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 "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.
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.
Effective with renewals that expire on or after July 1, 2008, applicants must complete 22.5 hours of approved continuing education, in which at least 3 hours must include fair housing and/or discrimination in the sale or rental of real property or an interest in real property. Any real estate broker who is not exempt from the continuing education requirements by July 1, 2008, will not longer be eligible for the exemption. Any currently exempt licensees who do not maintain their consecutive licensure will lose their exemption.
Exemptions From Continuing Education Requirements
- Attorney who holds a license and is admitted to the NYS Bar
- Real estate broker who, prior to July 1, 2008, has 15 consecutive years of combined licensure as a salesperson and a broker and who is actively engaged in the real estate business at the time of renewal.
Note: Brokers who fail to renew their licenses by the expiration date of that license will loose their "consecutive years" and will no longer be exempt.
Introduction to Commercial Real Estate
The learning objective of this course is to provide a comprehensive approach to the basic elements to commercial real estate. This course will explore the components of commercial valuations and how such methods are utilized to impact investment strategies. Introduction to commercial real estate will provide the opportunity for discussion of the various categories of commercial properties and the financial elements that influence such financial investments.
Real Estate Finance
This course is designed to help build strong finance principles in residential real estate financing and mortgage lending trends. This course will cover new and affordable loans, government influences on real estate finance and special financing alternatives, including seller financing, loans for self employed borrowers and annual updates on the latest loan limits. 7.5 hours.
This course covers the principles of real property management, including the role of an effective managing agent, accounting systems and financial controls, human relations, leases, marketing and developing management checklist. Property management and managing risk is a vital function that assist real estate professionals to cope with properties under management and sales of such properties while minimizing potential risk exposure. 7.5 hours.
Fair Housing - The learning objectives is to explore the fair housing laws from historical perspectives and to understand the historical development of residential segregation as it relates to Federal Housing Acts. This course will help students to understand the Fair Housing Amendments Acts and the protected classes it protects and to also explore discrimination in advertising and other forms insensitive discriminatory behavior and the enforcement role of the Justice Department, Federal Courts and Housing urban Development (HUD). 7.5 hours.
Textbooks are available at the York College Book Store, located in the Academic Core Building on the First Floor, (718) 262-2882.