Home Buying in New York>Question Details

Guy, Real Estate Pro in New York, NY

how long do you have to be an agent to open your own brokerage firm in manhattan?

Asked by Guy, New York, NY Mon Nov 11, 2013

Help the community by answering this question:


Anna Brocco’s answer
0 votes Thank Flag Link Mon Nov 11, 2013
Guy, first you need to be a licensed agent. As such you're required to work under an established brokerage. In New York State you need to close enough deals to reach the state required 1750 points. These points are achieved every time you tale a listing, rental or close a rental or sale deal. Check with DOS to see the point breakdown. For example, sale closings are worth 250 points. As such you'll need to close 7 deals to get to the 1750 points. Now you qualify to study for and take the NYS Brokers licensing exam.

Once you pass that exam, you are a Broker and you can open your own office immediately. Be aware if you are associated with a brokerage you'll get an Associate Broker license. You can arrange through the DOS for an independant Broker license. Good luck.
1 vote Thank Flag Link Mon Nov 11, 2013
Hi There,
You need to call New York State Board of Realtor to find out about any laws regarding Real estate there. I know in California you must be a Real Estate Broker in order to open your Brokerage Firm.
Good Luck
0 votes Thank Flag Link Tue Nov 12, 2013
In New York State you must obtain an ASSOCIATE REAL ESTATE BROKER LICEMCE.Than you can obtain a BROKER LICENCE.
0 votes Thank Flag Link Mon Nov 11, 2013
To open your own real estate brokerage office you need to get a Real Estate Broker License, which will be an affiliate license. After that you have to prove to the state that you can be a broker of record through your sales history. The state wants to make sure that you can survive on your own.
Good Luck
0 votes Thank Flag Link Mon Nov 11, 2013
thanks david, I was told you have to be a salesperson for 2 years... do you have to show a certain number of sales during that period? how do they determine if you can make it?
Flag Mon Nov 11, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer