New York Real Estate Exam Overview

Welcome to OpenExamPrep's FREE New York Real Estate exam prep guide. This comprehensive resource covers New York-specific regulations, licensing requirements, and state real estate laws you need to know to pass your exam.

About the New York Real Estate Exam

The New York real estate salesperson examination is administered on behalf of the New York Department of State (DOS). The exam tests your knowledge of:

• Real estate principles and practices
• New York Real Property Law
• Agency relationships in New York
• Contract law and property disclosures
• Fair housing and ethics
• Residential and commercial transactions

Exam Structure

Important: New York does NOT provide a numerical score - you are simply told pass or fail. This makes practice exams crucial to gauge your readiness.

New York Department of State (DOS)

The New York Department of State oversees real estate licensing in New York. The Division of Licensing Services is responsible for:

• Licensing real estate salespersons and brokers
• Approving pre-license and continuing education providers
• Investigating complaints and disciplinary matters
• Enforcing New York Real Property Law
• Protecting consumers in real estate transactions

DOS Contact Information

Pre-Licensing Education Requirements

2-Hour Implicit Bias Requirement

For applications submitted after December 21, 2022:

• An additional 2-hour course on implicit bias is required
• Covers fair housing and discrimination awareness
• Must be completed before taking the licensing exam
• This brings total education to 77 hours

Pre-License Course Final Exam

Your pre-license course includes a final exam:

• 70% minimum passing score required
• Maximum 2 attempts allowed
• Must be physically proctored in New York State
• Online proctoring not permitted for final exam

License Application Process

Step-by-Step Process

1. Meet Basic Requirements

   • Be at least 18 years of age
   • No GED or high school diploma required
   • Be of good moral character

2. Complete Pre-License Education

   • Finish 75-hour salesperson course
   • Complete 2-hour implicit bias course
   • Pass course final exam with 70%
   • Final exam must be proctored in NY

3. Schedule and Pass State Exam

   • Register for exam
   • Pay exam fee ($15)
   • Pass with 70% (53/75)
   • Results reported as pass/fail only

4. Submit License Application

   • Apply within 2 years of passing exam
   • Pay license fee ($55)
   • Include sponsoring broker information

5. Affiliate with a Broker

   • Must work under licensed NY broker
   • Broker supervises your activities

Important Timeframes

Note: New York's 2-year validity for exam scores is generous compared to many states.

Unique New York Requirements

No Numerical Score

New York only reports pass or fail on the licensing exam:

• You will NOT receive a percentage score
• Makes practice exams essential for preparation
• If you fail, no indication how close you were

Proctoring Requirement

The pre-license course final exam must be:

• Physically proctored (in-person)
• In New York State
• Online proctoring NOT acceptable
• Plan travel if taking online course

No Education Requirements

Unusually, New York does NOT require:

• High school diploma
• GED
• Any post-secondary education

You only need to be 18+ and complete the real estate education.

Sponsoring Broker Required

All New York salespersons must work under a supervising broker:

• Cannot work independently
• Broker must supervise all activities
• Broker information required for license application

License Fees Summary

Note: New York has one of the lowest exam fees in the nation at just $15.

Broker License Requirements

To upgrade to a broker license:

Continuing Education (CE) Requirements

What This Guide Covers

This FREE study guide focuses on New York state-specific content:

Chapter 1: DOS & Licensing

• New York Department of State structure
• License requirements (77 hours)
• Salesperson vs. broker licensing

Chapter 2: New York Agency Law

• Agency relationships in New York
• Disclosure requirements
• Duties to clients and customers

Chapter 3: New York Contracts & Disclosures

• Purchase agreements
• Property disclosure requirements
• Lead paint and other disclosures

Chapter 4: New York Property Law

• Property rights in New York
• Rent regulations (especially NYC)
• Cooperative and condominium law

Note: This guide covers ONLY New York state law and practices.

New York Market Considerations

Unique Market Factors

New York's real estate market has distinctive characteristics:

1. NYC vs. Upstate

   • Dramatically different markets
   • NYC density and pricing
   • Upstate rural and suburban

2. Rent Regulations

   • Rent stabilization laws
   • Rent control in some areas
   • Important for NYC market

3. Cooperatives

   • Common in NYC
   • Board approval process
   • Different from condominiums

4. High Transaction Costs

   • Transfer taxes
   • Mansion tax
   • Attorney involvement common

Regional Considerations

• Manhattan: Ultra-high values, co-ops common
• Brooklyn/Queens: Gentrification, condos
• Suburbs: Single-family focus
• Upstate: Lower prices, different dynamics

Exam Day Tips

What to Bring

• Two forms of ID (primary must be government-issued photo ID)
• Exam confirmation
• Arrive 30 minutes early

Exam Strategy

• 90 minutes for 75 questions
• About 1.2 minutes per question
• Need 53 correct (70%)
• Remember: No numerical score given

Key Focus Areas

• New York Real Property Law
• Agency disclosure requirements
• Fair housing (including implicit bias)
• Property disclosure rules

Next Steps

Ready to begin? Here's your action plan:

1. Complete this FREE study guide - Read all chapters
2. Take chapter quizzes - Test your knowledge
3. Review NY regulations - Study state-specific content
4. Practice with full exams - Aim for consistent 80%+ (since no score given)
5. Complete 77 hours education - Including implicit bias course
6. Pass course final exam - Proctored in NY
7. Schedule and pass state exam - $15 fee
8. Apply for license - $55 fee within 2 years
9. Find sponsoring broker - Required for activation

Let's get started with Chapter 1: DOS & Licensing!