How to get Agent License

[James Ritter]

Hello Everybody,

I want to get my real estate license in both New York and in Georgia. I see that you have to be sponsored so I am not sure the route to take. (I have the Series 7 and Series 63 securities licenses so I understand sponsorship).

My question is how to I approach a broker to get licensed? I want to work as an independent agent as I am interested in Investment properties in both New York and Georgia but do not want to be forced in to an office.

Advice is appreciated

[Jonathan Makovsky]

@James Ritter

1. If you get licensed in NY you can apply for licensure through reciprocity in GA. (See the NYS website for all states that you can apply for reciprocity in: http://www.dos.ny.gov/licensing/realestate/re_reci...)

2. Finding a broker and working as an independent agent:

• a) Just about all brokers will qualify you as an Independent Contractor (IRS exemption to the rule), so there is almost nothing mandatory that they can impose on you. So there should be no such thing as "forcing you into an office" since this might make you an employee vs. an independent contractor - something that most RE brokerages are not interested in doing as it will be fairly costly to them.
• b) Speak to as many brokers as you can because they are all set-up differently: Some brokers impose high monthly fees because they carry a national brand name, but may have other benefits to offer you such as good lead generations and strong brand recognition. Other brokers have little to no monthly fees but you will be generating all the leads yourself. Also, some brokers may offer little fees but may take a high commission split and vice versa. You just need to shop around and speak to some to understand it more.

3. My three cents: 

• a) First focus on passing the exam; once you passed your exam then brokers will be more inclined to speak with you, than if you are planning to take the exam [even if you do follow through with it]. 
• b) If you will be generating most of your leads on your own AND you can prove to be a trustworthy "by-the-rule" agent, then you should be in a better position to negotiate with a broker, since they will not need to babysit you or cannibalize any of their own leads. 
• Really great thing about taking the RE exam in NYS is that you can take it online - I loved this feature.