Every real estate agent must work under a sponsoring broker to maintain a Real Estate Salesperson License in NY. Finding the right broker for you is very important. You want to choose a broker that you are comfortable with and can mentor you. Do not base choosing a broker solely on the commission split. Obviously, that is an important factor but 100% of nothing sold is $0.00. 

As a new agent, you are going to need training, mentoring, support, and a company that is willing to stand beside you and your goals. You have a lot of choices. Do your homework. Interview with brokers. Different real estate agents have different goals and personalities so do not choose a broker just because you personally know someone who works there. What is a good fit for them, may not be a good fit for you. All Brokerages WANT you. Keep in mind, this is not your typical job interview. You are interviewing them and they will tell you why you should join their team. If you were hiring...

As a new Real Estate Salesperson, you will need to work under a “sponsoring broker.” The brokerage you choose to align yourself with will be the foundation of your new business, providing you with ongoing mentor-ship and the backing of it’s excellent community reputation. Here are 5 key characteristics of a good sponsoring broker, you should look for:

1. Commission Split 

Most importantly, commission split percentages differ from broker to broker. Although this is important, remember not to base your entire decision off commission split. There are many other factors to consider. That being said, commission splits affect earning potential, making it an important factor. Make sure to be aware of what commission you should expect from your real estate sales. Or you can check the white label agent sponsorship, where you own your brand and the business. Also, as a white-label partner, you get to keep 100% of your commission.

2. Mentor-ship and Support

As...

Real Estate Salesperson and Brokers: All NYS licensees are required to successfully complete 22.5 hours of approved continuing education, including at least 3 hours of instruction pertaining to fair housing and/or discrimination, 1 hour of instruction pertaining to Law of Agency, two hours if it is your first licensing cycle. within the two-year period immediately preceding a renewal. 

NEW LAW AS OF JULY 1, 2021:

A new law regarding continuing education for real estate salespersons and brokers was recently adopted. Below is a summary of the major changes.

• The amendment changes the course requirements for renewal. Specifically, new mandatory hours of education now include: "at least 2.5 hours of instruction pertaining to ethical business practices, at least 1 hour of instruction pertaining to recent legal matters governing the practice of real estate brokers and salespersons in New York which may include statutes, laws, regulations, rules, codes, department of state...