First things first - a little known tidbit about NY commercial real estate brokers. In NY (and I believe many other places as well), if you sell or lease commercial real estate you call yourself a broker. Not an agent, not a salesperson, not a realtor . . . a broker. If you're not a "broker" you may find this odd. Why? Because most of us aren't brokers!
Truth is, there are 2 legal designations -"Real Estate Salesperson" and "Real Estate Broker" (OK, there's also "Associate Broker," but I'm trying to keep this simple). Anyway, "Real Estate Salespeople" can do all the same things as brokers, except having a broker's license allows you to own a real estate brokerage firm. Since real estate salespeople aren't limited in what we can do, and since most of us work for a firm anyway, most of us don't have broker's licenses. Whatever the case, we all call ourselves brokers!
Now that I've clarified this, I'll get on to the point at hand. I'm a licensed NY Real Estate Salesperson. I've decided that I would like to get my NJ real estate license. I thought this would be a relatively simple process. As it turns out, it's a big pain in the ass. I'll walk you through it, in case you care.
In NJ, you must meet 3 main requirements to become a licensed real estate salesperson.
1) 70 hours of accredited real estate training
2) Pass the state exam
3) Be sponsored by a license real estate brokerage firm
In NY, however, you only need 45 hours of real estate training (at least until that changes to 75 in a couple months). As a result, NY has virtually no reciprocity with other states for real estate licenses (most states require 70+ hours). So, in order to get my NJ license, I had 3 options 1) take a 75 hour course in NJ, 2) show proof of 75 hours of education from an accredited masters degree, or 3) take the NY broker course (for 45 hours) and combine those hours with the hours I spent getting a NY real estate license to fulfill the requirement. This is easier said than done. Here's how it plays out.
1) Take 45 hour NY broker course (a few hundred bucks)
2) Send a letter to the NY Department of state to apply for Certification of Licensure - $20
3) Wait to receive Certification of Licensure
4) Send in certificate of completion of NY broker course and Certification of licensure to NJ Real Estate Commission (send in certified check for $25 + certified check fee)
5) Wait to receive waiver of education requirement for NJ Salesperson's license
6) Sign up for NJ Salesperson test ($60)
7) Study for NJ Salesperson test (Buy book - $45)
8) Schlep to NJ for Salesperson test
9) Get fingerprinted at a center in NJ
10) Submit proof that you passed test, met the education requirement, got fingerprinted and have a sponsoring broker to get license
As you can see, they don't make it easier on you. Oh well, at least I'm up to step 7!
Tuesday, May 6, 2008
How to get a NJ Real Estate Salesperson's License - If you're a NY Real Estate Salesperson
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8 comments:
Need some advice. I was going to get a license just to have it, if I ever decide to sell or buy real estate for myself in NJ. Taking a course and passing the test I can do, but how do I get sponsored by a broker to fulfill this requirement?
Thank you
Helen,
FYI, you don't need a real estate license of any sort to buy real estate for yourself or to sell your own real estate.
If "for myself" you mean that you want to act as a broker but not work for a real estate company, you will need a broker's license, not a salesperson's license, but you need to have experience and meet various qualifications to get one.
As for getting sponsored, your best bet is to call around to residential brokerage companies that would incur little to no overhead by bringing you on. I believe that most residential companies are eager to do this.
Michael,
I'm a licensed Real Estate Salesperson in New Jersey, and want to become licensed in New York State.
I am considered a "part-time" salesperson since I don't work 35 hours a week.
I do manage and have managed my own and others' properties for 4 years.
I got my license 6 years ago, and it has basically remained active by me paying the fees, but I haven't used it at all.
Norman
Hi Norman,
Is your question, how do you get a NY license if you have a NJ one? I haven't gone through the process, but I believe it's similar. You need to show proof that you have a license in NJ. However I do not believe there is any additional education requirement. You will most likely have to take the NY test as well.
Hi Michael,
Yes, my question is, How do I get my NY license if I already have my NJ license?
I know I will need to take the course, but how do I get excused from the 75 hours of education? I already took those hours when I took the course in NJ.
Norman
hi michael,
thanks so much the info....it should much easier to gather it through the web but oy veh...anyway, i have a slighty different dilema. i have been a ny broker for 15 years. do have to go through the salesperson routine in nj to become a broker or is there anyway to short-circut that? sounds like you are saying that yes, indeed, i'll have to be a nj salesperson for 3 years in order get brokers license. is this correct? i'm glad to know that with the proper documents i can bypass the actual nj salesperson course but the idea of working 3 years full-time for an nj agency when i have had my own company in the city for several years is too depressing to contemplate. hey, i'm not getting any younger.....lol...any suggestions?
Georgia,
I haven't tried to get an NJ broker's license, but I do believe you will have to "do your time" of 3 years as an NJ Salesperson. Here's a link that may help: http://www.state.nj.us/dobi/division_rec/licensing/reclicrequire.htm. If you hear anything differently, please let me know.
GETTING YOUR NJ SALESPERSON LICENSE AFTER GOING THROUGH ALL THAT.... (PRICELESS)
Believe me, it isn't all it's cracked up to be in NJ. NY market has the ability to remain in these hard times, but GOOD LUCK anyway. I see this is an old post, by now I'm sure you've gotten your license (and after reading all you had to do to get it, you're probably regretting it).
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