If you want to become a realtor in New York State, you are in luck: It is easier than ever to do just that. There are a few legal requirements that you must meet, including being at least eighteen years old, passing a final exam, and taking a 75-hour real estate course NY from an approved New York school. The great news is that this is a course you can take quickly over a week, or on your own time. Regardless of your timeline of completion, this course will prepare you to become a realtor—a serious and professional job that can provide a solid career for the rest of your life
This course aims to prepare you to become a realtor, pass your final real estate exam and obtain your license. Here is a look at what is in this course.
A Broad Overview
It is important to realize that this 75 hour real estate course is meant to do more than just help you pass a final exam: It’s designed to help you build a career. As such, it is relatively intensive, consisting of 75 hours of study.
The 75 hours are broken down into 20 different lessons, with each lesson taking roughly 3.75 hours to complete. Real Estate is a broad field, so the content of this massive course load is also extensive.
Thankfully, there are a variety of ways you can complete this course. You can take it with any https://www.summitret.com/real estate training vendor approved by the New York Department of State, although there is no question that some vendors are better than others and can help you better prepare for this course. Furthermore, you can study online, in a self-directed manner, or take a live, in-person class. This, of course, all depends on your schedule and personal needs.
So, what’s in the course?
Real Estate Laws & Regulations
A huge part of becoming a realtor is fully understanding real estate law and working with local governments to ensure compliance for yourself, your agency, and your clients. As such, you will learn the following about real estate laws:
- Chapter 1 covers dealing with licensure laws and regulations, including what your license allows you to do.
- Chapter 2 includes reviews of the law of agency. This will help you better understand the legal relationship between yourself, your broker, and your clients. It will also review the disclosure requirements that you have as part of your license.
- Chapters 3-4: legal issues. There is no shortage of legal requirements of which you have to be mindful if you seek to become a realtor. These chapters will review a slew of these specific issues, including liens, easements, titles, closings, and overall costs.
- Chapter 5 covers contracts, which will ensure that you have a full understanding of all contracts that involve both sales and leases. This will review what needs to be in a leasing agreement and the rights of both parties that are involved in a lease.
- Chapter 7, mortgage brokerages. As a real estate agent, you have to work with a brokerage. This chapter reviews what that entails.
- Chapter 9, land use regulations, reviews the various regulations you will need to know and manage.
- Chapter 10, municipal agents. This chapter provides a broad overview of the various local and state agencies you will interact with as an agent.
- Chapter 13, human rights and fair housing. The federal government, New York state, and local governments all have laws that relate to housing discrimination and the right to access fair housing. This chapter will ensure that you fully understand these laws.
- Chapter 14, property insurance. This chapter reviews the requirements of insurance for sales, homeownership, and renters.
- Chapter 15, taxes and assessments, which can help you determine the overall tax burden of any real estate sale.
- Chapter 18, income tax issues. This chapter goes broader than the property or real estate transfer tax and reviews how home sales and ownership can impact your income tax.
Real Estate Financing
Financing and loans are, of course, a major part of the job, and one that you must fully understand as a real estate agent. As such, you can expect to learn the following from your 75 hour real estate course:
- Chapter 6, real estate finance. This chapter reviews the various financing methods for home purchases and how to apply for them.
- Chapter 8, real estate mathematics. Math is an important part of being a real estate agent, and this chapter will review the math skills you need to succeed.
- Chapter 12, valuation and pricing. This chapter will help you learn how to value and price a home.
Physical & Miscellaneous Issues
- Chapter 11, construction and environmental issues. An understanding of these two broad areas is absolutely required, as it can help you identify potential hazards and be aware of land mines for your clients.
- Chapter 16, condos and cooperatives, which involve a very different set of skills and knowledge than other home sales.
- Chapter 17, commercial & investment real estate. This section makes sure that you have a broader understanding of this sector of the real estate market.
- Chapter 19, property management. This chapter will give you an overview of property management principles.
- Chapter 20, safety. Sadly, all license holders must be aware of potential physical safety issues. This chapter helps you manage those issues and determine what you need to watch out for.
Start Your NYS Real Estate Salesperson Course Today!
If you are interested in taking this 75 hour real estate course – or any other real estate training courses in NY – check out Summit Real Estate Training. At Summit, we offer a variety of courses designed with your busy schedule in mind. You can take the courses online or in person. Additionally, we offer upgraded packages that come with practice tests, one-on-one tutoring, additional materials, and more. These courses help you pass your test and ensure that you are ready to become a New York realtor.