You must pass the NY real estate salesperson examination. You must not have any felonies on your record exceptions may apply. Register for your classes online or in person. Sign up for an eAccess account and successfully complete the NY Department of State Test a one hour exam given each Tuesday in lower Manhattan to meet the licensing requirements. Find a real estate office "sponsoring broker" where you will work and be supervised as a salesperson.
Click here to file your license online with the Department of State. Our class is offered in 20 separate numbered sessions. You can start any day, any time, with any session number. Sessions are independent of one another, so you can take them in any order.
However there is an extra charge for repeating sessions and the State does not all credit for repeat sessions. Once both exams are passed, you can apply for your license with your sponsoring broker. If you need help choosing a sponsoring broker, we have dozens of NY's top real estate firms that recruit daily! Click here to see the Salesperson Course schedule. Mornings: Start any weekday morning and finish in 20 weekday mornings. Afternoons: Start any weekday afternoon and finish in 20 weekday afternoons.
Weekends: Start any weekend and finish in 10 straight weekend days 5 consecutive weekends. Combine mornings, afternoons, and evenings in any sequence that is convenient for you. You are allowed a maximum of 7. Remedial Course Exam: Mondays at pm. Syosset: am any day courses are being given. Bayside: Every Wednesday at am. A clause addressing when the tenant is takes possession of the property. Signatures of the lessee and lessor. New York Real Estate Finance. If the loan-to-value ratio is.
What is the amount the buyer is mortgaging? The impact of borrowed funds to purchase property when capital is not available is called:. Time value of money. Rate of return. A developer wants to build single family homes, a few groupings of townhomes and a small apartment building along with a small park with basketball courts and walking trails.
This is an example of what type of zoning? Cluster zoning. Incentive zoning. Residential zoning. Commercial zoning. In eminent domain, what value is the owner entitled to as compensation for the taking of real property? Actual cost. Appraised value. Market value. Fair market value. What is the difference between Assessed Value and Appraised Value? One estimates the property value for insurance coverage and the other is used to compute property taxes.
One is used to determine what a bank is willing to lend for the property and the other is used to determine a return on a certain dollar investment.
One is used to determine a return on a certain dollar investment and the other is used to compute property taxes. One is used to compute property taxes and the other is used to determine what a bank is willing to lend for the property. In an appraisal of commercial property, which of the following criteria is used to determine the properties highest and best use? Physically possible. Financially feasible. Maximally productive. All of the above. In , the Federal Fair Housing Act was amended to include the following protected class:.
Familial status and mental and physical disability. Race or Color. Religion and national origin. Active income, as defined by the IRS, includes:. Interest income. Gain from sale of assets. Dividend income.
Real estate taxes are calculated based on:. An assessed value. An average value based on surrounding properties. The last sale price of the property. The square footage of the original blue print. To calculate realized gain, you must:. Add the selling expenses to the adjusted basis. Subtract the capital improvements from the sale price.
Subtract the adjusted basis from the sale price, less selling expenses. Add adjusted basis, sale price and selling expenses. When being compensated, the duties that require a real estate license include:. Listing or attempting to list real property. Negotiating terms of a real estate contract.
Leasing or renting for more than one person. All the above. John, Matt and Laura have decided to start their own dog walking business. John will have the bulk of the day-to-day responsibilities; Laura will be in charge of appointments and keeping the books while Matt will contribute money to get the business up and running.
They decide to rent a space in an unused plaza to use as their business location. What type of business organization have John, Matt and Laura formed?
S Corporation. Sole Proprietorship. Take your time to study and prepare yourself for the exam. To sell commercial real estate in New York, a standard Salesperson or Broker license is all that you need. If you wish to take on a career selling specifically commercial real estate, choose a broker that handles the types of deals that you want to be a part of. Check out StateRequirement Jobs to find open real estate jobs in your area! Email: Contact Us. Information on this page has been gathered by a multitude of sources and was most recently updated in December Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date.
StateRequirement and its members and affiliates are not responsible for any losses, monetary or otherwise. StateRequirement is not affiliated with any state, government, or licensing body. For more information, please contact your state's authority on insurance. When readers purchase services discussed on our site, we often earn affiliate commissions that support our work. Learn More. This test is purposefully difficult, but not impossible.
Be sure to pay attention during your pre-license course and take studying seriously. If you put the proper effort forth, we know that you can pass on your first attempt!
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