How to Become an Apartment Broker in New York

New York apartment brokers stay busy with plenty of real estate to sell or lease.

Becoming an apartment broker in New York can be a lucrative business provided you start with the right training and materials and develop a strong client list. New York real estate is always in high demand, providing relative job stability. An apartment broker is someone whose job it is to find an apartment, negotiate a price and close details for a client who pays them--usually a percentage of the cost of the sale, called commission. Apartment brokers can also help a client sell or lease their own apartment.

Instructions

1. 

   Earning your New York real estate license is the first step to becoming an apartment broker in New York.

   Earn your real estate license. Find a real estate school in New York that offers a certifying class. You will need to complete at least 40 hours of instruction. After completing your class, sign up for the Department of State exam. The State of New York requires acquiring 80 points or more to pass the real estate exam. After taking and passing the exam, you will be mailed your license. Without a proper New York real estate license, you will not be able to legally sell or lease real estate in New York, even if you are certified in other states.

2. 

   Partnering with a sponsor broker will help you get up and running.

   Seek out a sponsor broker. Your sponsor will be a licensed real estate agent or a group of licensed real estate agents who own a real estate office. Having a sponsor will help you learn the real estate industry ropes quicker than you would on your own. It will also protect you legally, as sponsors are responsible for the actions of new brokers in any real estate transaction. Join a company that will give you hands-on experience.

3. 

   Know your sales territory well.

   Know your sales territory. Clients moving into the city or looking for a certain neighborhood feel are going to rely on your expertise for the best area for their needs. It is up to you to be sure you know each area well. Besides knowing the neighborhood culture, know your way around your area. If your territory includes Manhattan, make sure you are not going to get lost in the busy city while showing clients apartments.

4. Build your client list. Finding clients who can afford to live in New York is the key to success. Find clients who want apartments in the areas with which you are familiar and who are looking for apartments in a realistic price range. It is vital to your business to have clients who have a positive experience. Focus on growing your client list through referrals. Clients who have a good experience with you will pass your name on to their friends.

References

• Is It Worth It To Get A New York Real Estate License?
• Real Estate Broker