In the times in which we live today, the real estate business is struggling in many places with the dip in the price of real estate. There are so many properties for sale and the values have gone down significantly in some places. However, because real estate in New York City has stayed fairly strong during this economic downturn, it may be the best place to get started. The licensure process varies by state, so if you want to learn how to become a real estate agent in New York City, there are some specific steps to follow.
When learning how to become a real estate agent in New York City, the first thing that you need to do is get your real estate license. There are several schools in the state that offer the required 40 hour course. You then need to pass the department of state exam in order to receive your license. You must go through these procedures even if you have been previously licensed in another state.
The next step involved when learning how to become a real estate agent in New York City is finding a real estate broker to sponsor you. What that means is that they will take you under their wing and take responsibility for your actions. Don't just choose the first one that offers, but make sure you are able to find out about training involved, quotas to meet, how leads are generated, and other important aspects of the business.
After you find the right broker for you, you must then determine if you want to deal with rentals or with sales. In New York City, most of the available properties are rentals and a real estate agent is not salaried, but is paid in commission only, so you need to get into the business that is right for you and your salary needs. The same license is needed either way.
When learning how to become a real estate agent in New York City, you not only need to get your license, find the right broker, and decide on property type, but also you need to be prepared with a couple of months salary saved before going into the business full time as it may be difficult to get started as a new agent. Your office may also require you to purchase your own business supplies. More than likely, you will also need to be prepared to move fast as the competition can be strong for available properties.
Finally, when learning how to become a real estate agent in New York City, you need to find someone you can go to for help. This should be someone who has been in the business for several years and has a good reputation.