Becoming an Agent in NY

[Account Closed]

Hello all,

I'm currently in process to become a RE agent in NY as part of my overall plan to become an investor. I started the 75 hour course, and while studying I came across a potential hitch in my plans, specifically this clause in my text:

"It should be noted that salespersons and associate brokers may never hold

• officer positions (or have officer titles in a corporation) or
• positions as a general partner in either a general partnership or limited partnership"

I spoke to one of my family members who is an agent, and unfortunately, he couldn't clear that up for me, as he is not an investor. Are there any NY agents who are also investors? Can you be a member or owner of an LLC without running afoul of NYS? If not, do you have any idea why there is this prohibition?

[George Hermann]

I believe what your reading applies to a change made a few years ago regarding the titles that can be used in a real estate firm. There can be only one "Broker". everyone else operates under their brokers license. You can be a licensed sales person or an associate broker, nothing else. In the past agents could be called a vice president, etc. This is no longer permitted in New York. I hope that helps.