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Changes in Licensure Laws

HIGHLIGHTS TO THE CHANGES IN REAL ESTATE PROPERTY LAW;

TO BECOME A SALESPERSON

  • On July 1, 2008, the educational requirements for a salesperson's license increase instruction from 45 hours to 75 hours

 TO BECOME A BROKER
  • Educational requirements for a broker's license remain at 45 hours
  • If you received your Salesperson license from the New York Department of State prior to July 1, 2008, you only took a 45 hour licensing course. As of July 1, 2008, Salesperson licensing courses have increased to 75 hours. If you want to apply for a Broker's license you need to take those additional 30 hours of the Salesperson's course as well as the 45 hours Broker's course.
  • Applicant has to have worked at least two years, formerly one, as a licensed real estate salesperson, or has had equivalent experience in general real estate business for a period of at least three years, formerly two years
  • Minimum age for a broker has been raised to twenty, from nineteen
  • The new bill will eliminate the current exemption from continuing education requirements for those brokers licensed after the effective date of July 1, 2008, who do not have fifteen years of consecutive licensure by that time

 

NEW FOR BOTH A SALESPERSON AND A BROKER

  • Real estate license identification cards shall now need to contain a photograph of the licensee
  • As of January 1, 2017, The New York Department of State requires the 22.5-hour continuing education requirements now include at least 1 hour of Agency training (2 hours during your first licensing period) in addition to the mandated minimum of 3 hours of Fair Housing/Anti-Discrimination training. 

TO READ THE COMPLETE DETAILS OF THE NEW REAL ESTATE PROPERTY LAW


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Find out the full content of Chapter 183 amended Section 440 of the Real Property Law stating increased educational requirements and miscellaneous changes.