New York City has one of the most competitive real estate job markets in the country.
At the end of 2021, around 60,000 real estate agents were active in New York City alone—with the industry expecting to grow by 3.8% at the end of this year.
The key to getting your real estate career started is to find the right school to help you prepare for the pre-licensing exam. However, knowing which one to choose can be overwhelming.
In this article, we discuss some of the best New York real estate schools and everything you need to know about them.
We also outline some of the state’s requirements for becoming a salesperson and how to make the most of your studies.
Why Do You Need to Enroll in Real Estate School?
The New York Department of State requires all aspiring real estate agents to complete a pre-approved licensing course.
This is to teach you all of the basic skills, laws, and terms you will need to know in order to work in real estate.
Enrolling in a registered real estate school is the only legal way to obtain the required coursework that you will need to study for the exam.
One of the other key benefits of enrolling in a real estate school is that they keep their material up to date with the latest industry regulations.
This ensures that you only study the most up-to-date information for the real estate exam.
Once you have completed the coursework, the real estate school you enrolled in will also issue you with an official certificate of completion.
This has to be submitted to the New York Department of State before you take the exam
Not only will real estate schools provide you with the necessary coursework for your initial New York real estate license, but many of them also offer continuing education.
These are post-licensing courses that help active real estate agents stay up to date with any new industry regulations or laws.
The state of New York requires all active real estate agents to take continuing education courses when they renew their licenses.
How Much Does Real Estate School Cost in New York?
Although the prices will vary from school to school, you can expect to pay between $200-$900 for the study material.
Some of these packages may also include practice tests and answers, as well as career and studying resources.
Self-Paced vs. Scheduled Courses
Many real estate schools offer either self-paced online courses or live-streamed classes with a fixed schedule.
Choosing a self-paced course may be more convenient if you want to work at your own speed.
These courses are also more flexible, which means that you can fit them into your schedule when it works best for you.
You can also enroll in scheduled classes that are live-streamed during the week.
This gives you the opportunity to ask the instructor questions in real-time and may help you to understand the work a bit better.
Online classes also allow you to meet some of the people that you may be working with one day.
How Do I Start Practicing Real Estate in New York?
There are a few different requirements that you will need to meet before you can start practicing real estate in New York.
It’s important to note that you must be 18 years old and have a current New York state driver’s license or ID card to start the licensing process.
You will also need to complete the required 75 hours of pre-licensing coursework and pass the New York real estate exam with a score of 70%.
After you have passed the real estate exam, you will be able to apply for your license.
The state will evaluate your test results and any other documentation you submit before approving your application.
Once your application has been approved, you’ll receive your license to start practicing real estate.
An active and licensed broker must be willing to employ you and provide you with mentorship after you receive your license.
The state requires licensed agents to complete 22.5 hours of post-licensing coursework every two years.
When you renew your license after two years, you will need to enroll for a continuing education course to ensure that your real estate knowledge is up to date.
What Can I Expect from New York Real Estate Schools?
As we’ve mentioned before, real estate schools are designed to help you pass the licensing exam and become a successful agent.
Here is a list of some of the topics you may cover during your pre-licensing coursework:
- State License Law and Regulations
- Legal Complications
- Law of Agency
- Land Use
- Construction and Environmental Concerns
- Fair Housing
- Insurance and Taxes
- Commercial and Investment Properties
- Condominiums and Cooperatives
- Property Management
Real estate schools like REPG will also be able to provide you with practice exams that contain sample questions from the actual test.
The best way to pass the final exam is to pay attention to the types of questions the practice exams ask and how you should answer them.
This will help you feel more confident when you write the actual exam because you will be more familiar with its structure and requirements.
The Top Three Things to Look for in a New York Real Estate School
Since enrolling in a real estate school is the first step toward getting your license, it’s important that you choose the right one.
Let’s take a closer look at some of the most important factors to consider when choosing an online real estate school.
Course Pricing and Inclusions
The price of the coursework is often one of the most important factors when choosing a real estate school.
Not only do you need to ensure you get value for your money, but you should also consider course packages and what material is included.
Real estate schools that offer practice exams with their coursework—without a substantial additional fee—are usually good options.
Variety of Learning Methods
It’s important to note that not all of the real estate schools will offer material that’s suited to your learning needs.
The real estate school you choose should reflect the learning method that you are most comfortable with.
For example, if you are someone who prefers text-based learning a school like REPG would be a good fit. We’ll go into more detail about our real estate courses later in this article.
How Long You’ll Have Access to the Coursework
Choosing a real estate school that gives you access to your coursework for a few months is a good option if you want to study at your own pace.
Most schools will allow you to access the material for up to three months, while others may give you access for up to a year.
To decide what time frame will work best for you, draw up a detailed schedule to see how you can fit your studies into your daily routine.
This will give you a much better idea of how much time you will need to get through all of the coursework before writing the exam.
Here Are the 9 Best Real Estate Schools in NYC
Now that you know what to look for, here are some of the best online real estate schools that can help you kickstart your career.