New York State Real Estate Exams
Congratulations! - You have taken the first step necessary to join the real estate industry. Selling real estate can be challenging, rewarding, and extremely profitable since the real estate industry is a dynamically growing field. Licensed, knowledgeable, and qualified salespeople are always in demand.
To become a successful realtor, you must first pass the real estate sales exam.
US Real Estate Exams will help you pass your New York State Real Estate Exam by providing you with numerous questions you can expect to see on the actual exam. With access to over 3,000 practice questions, you will gain the confidence and knowledge you need to pass your exam on the first try. Once you have passed your exam, you will be ready to join the exciting field of real estate.
Benefits of purchasing and taking US Real Estate Practice Exams:
- 3,000+ practice exam questions: You will be presented with questions that you will find on the actual New York State Real Estate Exam plus answers and explanations for each, to help you learn.
- On-line admittance: Once you have purchased the state practice exam, you can take the test aNew Yorktime, aNew Yorkwhere from aNew York computer – Just login.
- Instant scoring: Our system lets you know right away if your answer is right or wrong and explains the correct answer for interactive, productive learning
- Indefinite access: Continue to practice and re-take your practice exams until you are prepared to pass the actual exam with flying colors.
- Our staff is helpful and knowledgeable: If you have a content question, simply fill out the form on our support page and someone will assist you
- We guarantee that you will pass: Our students have a 99% passing rate. We are so certain you will pass your exam that we guarantee it – or your money back!
What you need to know about the New York Real Estate Exam:
1. New York State Requirements:
Age: You have to be at least 18 years old.
Citizenship: You must be a U.S citizen or legal alien. You do not need to be a resident of New York State to acquire a New York State Real Estate Sales License.
Courses: All applicants must complete a 45-hour course at an approved training facility. The course is offered at colleges, universities and your local REALTOR association. Once the course is completed, a certificate will be provided.
An exemption from taking a real estate course will be granted if one of the following criteria is met:
- You graduated with a law degree that is recognized by the state of New York’s American Bar Association
- You happen to be a member of the bar in another state
- You earned a real estate degree from an accredited institution
2. Pass/fail statistics for New York State
4 out of 10 people, who take the New York State Real Estate Exam, fail on their first try. The secret to passing is being prepared! People fail because they do not know the material, did not have experience with the test questions or did not complete the exam quickly enough. You can avoid all of these issues by taking our practice exams.
3. Cost of taking the exam
There is a $15 fee to take the exam in New York State – this fee applies every time the exam is taken and is non-refundable.
4. Where New York State Exams are offered
The New York State Real Estate exam is offered in New York City, AlbaNew York, Binghamton, Buffalo, Franklin Square, Hauppauge, Newburgh, Plattsburgh, Rochester, Utica, and Watertown. You may find a complete listing, as well as dates and times, by going to the Department of State’s website at: http://www.dos.state.New York.us
If you pass, you will receive a letter within 24-72 hours with your results. You will also receive a temporary letter from DOS indicating you are authorized to practice real estate selling in New York State. If you fail the test, DOS will send you a failure notification, your license application and license fee.
Please be sure to bring with you the following items with you:
- A check or money order payable to the DOS in the amount of $15 to cover the exam fee
- If you are disabled, bring a letter stating that fact, and the kind of disability. Special accommodations will be arranged for your convenience
- Two #2 pencils and eraser
- Photo ID. You will be fingerprinted for identification purposes
- You will be permitted to use a calculator as long as it is quiet.
- If you are an out-of-state applicant, you must present an irrevocable consent form. This form can be downloaded from the DOS website at: http://www.dos.state.New York.us
The license may be expedited for an additional $50 fee, which should be submitted with your application fee. This service is only offered at certain locations including, but not limited to New York City, Rochester, or AlbaNew York.
Once you pass the exam, you have two years to find a sponsoring broker and submit your application for licensure. If you fail to do so, you will be required to retake the exam.
If you currently have a real estate license from aNew York of the following states: Arkansas, Connecticut, Georgia, Massachusetts, Nebraska, Oklahoma, Pennsylvania, or West Virginia, you are not required to take the New York State Real Estate Exam. Simply contact the DOS, pay the fee and obtain your license.
About the New York State Real Estate Exam
- The test takes approximately one hour to complete.
- The test is comprised of 50 multiple-choice questions
- All answers are recorded on a Scantron answer sheet
- You must get 35 out of 50 questions (70%) in order to pass the test
- The exam consists of reading, writing, and math questions
- All math questions will be basic real estate math computations
- To pass the test you must be proficient in real estate principles and must know the responsibilities and obligations of licensed sales people
- You must know the law regarding real estate transactions
The New York State Exam covers seven specific areas:
Property Ownership and Land Use Controls and Regulations
Laws of Agency
- Classes of Property
- Property Characteristics
- Types of Ownership
- Descriptions of Property
- Government Rights in Land
- Public Controls
- Environmental Hazards and Regulations
- Private Controls
- Water Rights
- Special Categories of Land
Valuation and Market Analysis
- Law, Definition and Nature of Agency Relationships, Types of Agencies, and Agents
- Creation of Agency and Agency Agreements
- Responsibilities of Agent to Seller/Buyer as Principal
- Disclosure of Agency
- Disclosure of Acting as Principal or Other Interest
- Termination of Agency
- Commission and Fees
- Appraisal Regulations
- Methods of Estimating Value
Transfer of Property
- General Concepts
- Types of Loans
- Sources of Financing
- How to Deal with Lenders
- Government Programs
- Mortgages/Deeds of Trust/Notes
- Financing/Credit Laws
- Loan Brokerage
Practice of Real Estate and Mandated Disclosures
- Title Insurance
- Tax Aspects
- Trust Account Management
- Fair Housing Laws
- Record Keeping Requirements
- Agent Supervision
- Permitted Activities of Unlicensed Sales Assistants
- DOS Jurisdiction and Disciplinary Actions
- Licensing, Continuing Education Requirements, and Procedures
- General Ethics
- Property Management/Landlord-Tenant Rights
- Commercial/Industrial/Income Properties
- Material Facts Affecting the Property
- Need for Inspection and Obtaining/Verifying Information
- Listing Agreements
- Buyer Broker Agreements
- Offers/Purchase Contracts
- Counteroffers/Multiple Counteroffers
Note: This list was developed by the DOS and should be used as a general guideline only.
We have covered everything you need to know about taking the New York Real Estate Exam. The last step is learning the material. If you follow all rules, guidelines, and requirements, prepare for the test properly and take our practice exams, you should have no problem passing the test the first time!