Passing the real estate exam on the first try
Taking a test is a common anxiety for many people, especially when it will determine whether you get a license needed for your career. To become a New York real estate salesperson, you must pass the licensing exam. Taking this high-stakes test can be stressful, but there are steps you can take to relieve your anxiety. In this blog post, we will go through the requirements for getting your New York real estate license and how to pass your exam.
What are the New York Real Estate License Requirements?
To get your license and become a real estate agent in New York, you must meet the following criteria:
- be 18 years of age at the time the application is submitted
- have successfully completed the Department of State approved qualifying course
- have successfully completed the New York State real estate salesperson examination
- be sponsored by a New York State licensed real estate broker
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What to Expect On Your NY Real Estate Exam
The exam consists of 75 multiple-choice questions based on the 75-hour pre-licensing curriculum. You have 1 1/2 hours to complete the test and need to answer 70% of the questions correctly to pass.
Review What’s on the NY Real Estate Exam
Real estate licensing exams are extensive and require memorization. Since you completed the pre-license course, you shouldn’t encounter many surprises on the New York real estate exam. The exam covers:
- State License Law and Regulations
- Law of Agency
- Legal Issues
- Land Use
- Construction and Environmental Issues
- Fair Housing
- Insurance and Taxes
- Condominiums and Cooperatives
- Commercial and Investment Properties
- Property Management
Take NY Real Estate Exam Preps
Take advantage of the available materials to help you pass the exam. Exam practice tests allow you to identify your strengths and weaknesses and pinpoint sections you need to work on. Taking the practice tests will also help you get familiar with the time allotted, the types of questions on the exam, and how questions are worded. Memorize the math formulas to solve common real estate calculations such as profit and loss, mortgage interest, down payments, commissions, and closing prorations. Carefully read the questions to determine exactly what is being asked. Regardless of the specific numbers and scenarios in the question, if you use the correct formula, your answer should be correct.
Find a Study Partner
Studying with someone who is also preparing for the licensing exam will keep you motivated and be mutually advantageous. You help each other learn while holding each other accountable. You’ll be motivated to not only do well on the exam, but to make sure that your friend does well, too. While you review the pre-license course materials, take notes and highlight key concepts. Use flashcards to quiz each other on major concepts. Study for no more than 60 minutes before taking a break.
Get Plenty of Sleep and Food
It is important to maintain your health before taking an exam. Get at least eight hours of sleep for several days before the exam and eat a full meal the day of the test. Taking practice tests on the day of your real estate exam can increase your anxiety and tension. Remember to relax, breathe, and remain calm. Concentrate only on the material presented on the exam.
Keep track of the time and manage it wisely, but don’t rush. Read every sentence and word carefully. It’s harder to answer correctly if you’ve misunderstood the question. It’s easy to overlook words such as “all” and “none” and mistake “is” and “if” for each other. Test makers are aware of common mistakes and assumptions and test to make sure you’re paying attention. They may include an answer that would be correct for a misconstrued question, so watch out.
Don’t Miss the Details
It’s easy to miss details when you are overwhelmed taking a big licensing exam. Ensure that your question number corresponds to the number on your answer sheet. One mistake will jeopardize the entire test, and you may not have time to fix it. If you don’t know an answer, make an educated guess. Answer all of the questions and don’t leave any empty spaces on your answer sheet.
Find a Sponsoring Broker and Complete the New York State Real Estate License Application
Once you have passed the exams, it is time to find a licensed broker for sponsorship. Until a broker sponsors you and you complete your salesperson application, you can’t sell or rent real estate in New York. Once you have aligned with a sponsoring broker, it is time to complete the real estate salesperson application. This can be completed through your eAccessNY account. Log on, input the sponsoring broker’s license number, enter all the required personal information, and pay the $50 application fee.
Once you submit your application, your sponsoring broker will log into their eAccessNy account and provide authorization for the application. At this point, the Department of State will review the details of the application and mail the real estate license via USPS to your address. Passing the New York real estate exam is not as hard as you think if you are prepared, calm, and thorough. Commit to the steps above, and you should pass the test no problem and become a licensed real estate agent.