Real Estate Salary of a New York Agent

New York Real Estate SalaryUnderstanding The Real Estate Salary A New York Agent

The real estate salary of a New York agent depends on a number of factors. Working as a real estate agent in New York can be a very lucrative job. New York City real estate is particularly expensive, especially in Manhattan. Some luxury apartments and condominiums are in the six figure range, and this can mean a large commission for the agent. It is important to keep in mind, however, that no agent will get a large real estate salary overnight. They need to gain experience, which can mean a lot of networking and minimal showings when they first start out. Currently, the reported average real estate salary of a New York agent is around $130,000 per year, but this amount can vary from Realtor to Realtor.

Many successful agents in New York sell multiple homes each year, which means multiple commissions, and if the homes are in the six or seven figure range, the yearly real estate salary can exceed the average

Networking Increases Your New York Real Estate Salary

Once an agent has obtained their license and is either working for a broker or independently, there are a variety of ways to meet potential clients and increase their listings. Often times, brokers will help a new agent by assigning them their own listings, but for the most part, it is all about networking.  To get started networking, real estate agents should spend 2-3 hours making cold calls and volunteering to answer the phone calls of potential buyers that come into the brokerage. Many times, with virtual brokerages, phone calls can be forwarded to agent’s mobile phones.

This is a common practice that helps both new and established agents increase their real estate salary,  introduce themselves to potential home buyers as well as people that are looking to place their home on the market.  Getting broker calls forwarded to your mobile phone tends to be a win-win situation. For new agents, it allows them to become familiar with the process of taking calls from interested parties, as well as gives them experience in pitching their services. For new and established agents, one phone call could mean a listing or a sale, which can turn into a generous commission, the possibility of referrals and a higher real estate salary.

Hard Work Equals A Larger Real Estate Salary

The real estate salary of a New York real estate agent  depends on how much time and effort they wish to put in to their career. Cold calling, internet marketing, and volunteering to sit in on open houses are all ways for an agent to introduce themselves to potential clients. This is the type of business where the phrase, “where there’s a will, there’s a way” can really ring true. Real estate agents that work hard to obtain listings and clients will find that their efforts will definitely pay off in the long run, with a nice real estate salary and a long list of clients and referrals. With the current upswing of the real estate market, this is a great time to become a New York real estate agent.

Jobs In Real Estate – How To Work From Home in New York

jobs in real estateNew York Jobs In Real Estate – How To Work From Home

The New York real estate market is on the rise, perfect for anyone looking for jobs in real estate . Real estate agents have flexible schedules, and can work from the comfort of home, and agents have the opportunity to become extremely successful in New York real estate in just a short matter of time. New York homes, especially in Manhattan are expensive, and this means a hefty commission for the agent. Today, many jobs in real estate allow New York agents work virtually, which is both cost effective and time saving.

Step 1 – Obtain a Real Estate License

In order qualify for jobs in real estate as a agent in New York, you must first take the required courses and pass your real estate exam. The New York Real Estate Institute offers the required courses as well as courses for continued education. They are also the only school in New York that offers recruitment opportunities with some of New York’s top real estate brokerage firms. The classes are taught by experienced professionals who already have jobs in real estate, and they offer both online and classroom settings. The online option is a great choice for anyone who has a day job or family commitments and would prefer taking courses from home.

Real estate agents are required to complete 75 hours of training, and they must pass the New York State licensing exam. They must also be sponsored by a licensed broker, and hold a clean criminal record. Once the required courses are complete and the agent has passed their state exam, they can start seeking work in the New York real estate market.

Many agents are able to secure jobs in real estate with their sponsor, and others will work independently. Agents can conduct much of their business, including setting appointments for showings and conducting virtual meetings, from the comfort of their own homes, which is a definite plus to working as an independent real estate agent. It may take a while before an agent has multiple listings and clients, which is why networking is extremely important in the real estate business. Agents introduce themselves to the community in a variety of ways, including cold calling, internet marketing, and conducting open houses.

Step 2 – Find A New York Cloud Based Real Estate Brokerages

Finding jobs in real estate at virtual brokerages are is a winning situation. Cloud based real estate brokerages in New York allow agents to work from the comfort of their homes, save money on overhead, as well as increase productivity by focusing on networking and bringing in new clients. Cloud-based companies are becoming increasingly popular, as they eliminate the need for landlines, and using a virtual platform means agents can access all of the company information from their phones, laptops, and pretty much any hand held media device. Jobs in real estate are on the rise, as the housing market is on an upswing, and working as an agent in New York can open up the door for a variety of job opportunities.

Step 3 – Start Making Money As A New York Real Estate Agent

Once you choose one of the many jobs in real estate , you  can definitely make a nice income. In New York, commissions can be very high, especially on million dollar homes and apartments. It is important to note that just because an agent has obtained their license, this does not mean that they will be immediately bringing home hefty commissions. The average salary for a New York real estate agent is around $130,000 a year, but this amount definitely varies. Successful agents who have been working jobs in real estate for a long time can make a lot more than the average, and new agents may make less than the average. This is why networking is so important in the real estate industry.

Finding and landing jobs in real estate t in New York can definitely be exciting, and the possibility of making a lot of money is very high. By taking the proper steps in obtaining a license, agents can enjoy the freedom of working from home while earning a very comfortable income.

How To Be A Real Estate Agent In New York

New York How To Be A Real Estate AgentLearn How to be a Real Estate Agent in New York

Real estate agents are the individuals working for and supervised by a real estate broker at the brokerage. If you are interested in knowing how to be a real estate agent in the State of New York, you’ll need to pass its examination for candidates before you can pick up the license.

Education and Licensing

You must be licensed as a real estate salesperson by the Division of Licensing Services of New York’s Department of State before you can become a real estate agent in New York. A number of options are available to you depending on your circumstances.

The most common option is for you to take a course that qualifies you to become a salesperson in New York. These courses will begin to teach you how to be a real estate agent. Said course must provide you with at least 75 hours of instruction and must come from an educational institute that has been approved by the Department of State. Once you’ve completed your education, you can then take the examination offered by the Department of State. This examine will test your knowledge on how to be a real estate agent. Pass that examination and you will become eligible to receive your license in New York.

Alternatively, if you’ve completed a real estate course with 45 hours of instruction that qualified you to become a salesperson prior to July 1 of 2008, you can take a remedial course with 30 hours of instruction in lieu of the educational requirement to learn how to be a real estate agent that came into effect after that date.

You may also be able to secure a waiver for the educational requirement if you’ve had previous education on the topic. At a minimum, you’ll need to submit a written request for a waiver that includes proof of your completion of an appropriate course in real estate, a description of the course, and detailed information about both its course content and the hours spent on each topic. Be warned that this course must have offered at least 75 hours of instruction on how to be a real estate agent. Alternatively, if you’ve completed a Bachelor’s Degree while specializing on the topic of real estate, you might be able to secure a waiver for the educational requirement so long as you provide the Department of State with an official transcript of the time you spent in college.

Renew Your License

Once you’ve completed your education on how to be a real estate agent and received your license to do so in New York, be warned that you’ll need to renew your license on a regular basis. You’ll be contacted through either post or email, depending on if you’ve signed up for eAccessNY before this happens, so you’ll have time to get it done. Each time you get your license renewed, you’ll need to pass a continuing education course with 22.5 hours of instruction to prove that you are up to date with new laws and rules on how to be a real estate agent. The only people who are exempt from this rule are attorneys with a real estate broker’s license who have been admitted to the New York State Bar or real estate brokers who have been in the business for 15 years prior to July 1 of 2008.

Getting the Position

Once you’ve secured your license, you can start working as a real estate agent in New York. However, you’ll be better off if you’ve already made arrangements before you took the examination. One of the best ways to get your foot in the door and get hands on experience on how to be a real estate agent,  is to work at a real estate office as something other than a salesperson to familiarize yourself with the work and build contacts before you get your license. Remember that your education as a salesperson should not end with the course, and that you’ll get further ahead if you can find someone to mentor you.

Tips For First-Time Home Buyers

Ready to buy your first piece of New York Real Estate? Great. But before you get started, here are few 8 tips to keep your head out of the clouds and keep your feet on the pavement.

  1. The dream home does exist, but you may have to work a little after your home purchase to get it. Bottom line, its okay to be strict about what you want, but you need to be realistic. Even if your home is custom built and bran new, it will never be “perfect”. Be prepared to make adjustments and settle on a few amenities, especially in New York.
  2. When you are searching for New York apartments, do you your homework first before you start looking. Otherwise you will just be frustrated. Decide what you really want, keep that in mind (write it down!) and then start searching for New York apartments and condos for sale.
  3. Before you even think about searching for anything, go through your credit reports with a fine tooth comb. Make sure that you have enough money saved to cover your down payment, closing costs and any other hiccups along the way. Make sure your finances are in order. 
  4. Why wait to get your loan? Knowing how much you are approved for will give you the edge you need when negotiating the purchase price. New York apartment sellers will not take you seriously if you are not pre-qualified. They don’t want to waist there time on shady buyers.
  5. Know what you like and don’t budge on your taste. Asking your friends, family and co-workers what they think about a property will cause you to be confused and unsure. Choose two people that you really trust and who know you well give their input.
  6. Time your move. If you start looking too early, you could be up for disappointment when properties sell fast. Find out when you are moving. Factors like your current lease or home will help estimate your move date.
  7. When looking for a New York apartment think about the future. Do you want to move into a bigger place now as you prepare for a family? Do you want to buy a small home? Do you plan to have income property? Answers to these questions will dictate what you are looking for as well as the type of loan you need.
  8. Don’t max out your loan and your savings. If you do, you won’t have any money left over to maintain your home, decorate your home or for anything else.

 

 

Why You Need A Realtor

Choosing a real estate agent to help you you buy or sell real estate in New York is imperative for your success. Why? Because…

Real Estate Is Complex

Buying or selling real estate in New York is a complex process, one that includes:

  • Disclosure Forms
  • Inspection Reports
  • Mortgage Documents
  • Insurance Policies
  • Closing Statements
  • Contract Writing
  • Due Diligence
Trying to do this on your own cannot on be difficult, but time consuming and possibly detrimental to your investment and finances. Choosing Gad Realty to help guide you through the home buying or selling process can help you avoid delays and costly mistakes. Why?

Real Estate Is Time Consuming

In New York, even in a strong market, New York City apartments stay on the market for atleast 60 days. Can you afford to give up 60 days of your schedule negotiating and marketing? Once an offer is made, add 30 to 60 more days before the deal is closed and an offer is accepted.

Real Estate Has It’s Own Language

CMA, Transfer Tax, and COE are all just a few words that real estate professionals speak along the way. If you don’t know the lingo, which can be overwhelming, you need a real estate agent.

Real Estate Changes Fast

Even experienced real estate agents have to keep up with new laws and regulations to make sure they are in compliance. Every market is different, every neighborhood is different and every loan is different. Even if you have bought or sold real estate before, it isn’t the same as before. Having a Gad Realty agent on your side whose living is based on knowing the ins and outs of real estate is crucial to a successful transaction.

Real Estate Agents Are Objective

Buying or selling real estate is an emotional process for a buyer or seller. Sometimes emotions can dictate decisions in pricing and negotiations. When people try to put a price on home, family, lifestyle, etc… well, they are not always in their right minds. Having an objective real estate agent from Gad Realty can help you stay focused and reach realistic goals.

 

10 Home Staging Tips

Staging a home can affect the listing price and offers coming in for your home. Here are 10 staging tips you can utilize to make sure you put your best foot forward in this competitive market.
  1. Curb Appeal – It’s not just for the suburbs. The first impression you make is critical. What does it say about your house? Minor details can make a big difference. As a realtor is fumbling with the lock box, your potential buyer is noticing the little details; fresh paint on the door, the condition of the hardware, the decorative touches on the mailbox. To a potential buyer, the exterior of the condo is a sneak preview of what’s inside.
  2. Repairs- Now is the time to take care of the long-neglected “honey do” list. Your home should shine with pride of ownership, because creating the impression that the house is well maintained will bring you a better offer. Overlooking small repairs may lead buyers to assume you haven’t taken care of the big things, and this is when they will begin actively looking for problems that they might otherwise not notice. A home inspector recently confessed that he will spend more time in homes that have obvious neglect. How will your home fare under that sort of additional scrutiny?
  3. Paint – Step away from the paint brush! If your painting skills aren’t top-notch, call a professional. The quality of the job is just as important as the colors you pick, so don’t waste your effort and money if you haven’t the time—or skill—to do the job right. A home stager can help you pick out colors that will work with existing carpet or cabinetry, and can improve the visual flow of your space with colors that transition gracefully from one are to the next. The right color can also create an environment neutral enough to appeal to a broad range of buyers. Bold colors can be dramatic…or they can be a deal breakers. Why take a chance?
  4. Wallpaper– Just say “no!” Ditto with bold colors and “theme” rooms. Your personal style, however tasteful, will most likely not be the taste of the prospective buyer. Décor needs to be neutral enough that it can accommodate any furnishing style without major changes. Further, using a variety of different textures or colors of carpet and flooring can negatively impact the visual flow of the house. New floor coverings can make the difference between receiving an offer and taking a price reduction that will cost you far more than new flooring.
  5. Furniture– Tasteful furniture doesn’t have to cost a lot. If you need furniture for your new home, buy it now. Furniture mismatches and hand-me-downs make for poor flow and often occupy valuable square footage, both physically and visually. This is a great time to “hand-meup” to your favorite charity, and get a tax deduction. When it comes to furnishings, keep the best, get rid of the rest. If new furniture isn’t an option, you can slipcover classic or transitional upholstered pieces and paint dated wood pieces for a fresh look that won’t break the bank. If you have too many “matchy” pieces in your décor, it may be time to edit a few. Don’t purchase an entire set (even if it is a deal) of bedroom or living room furniture if all the pieces do not fit in the room. A few non-matching accent pieces will complement the space and add interest and dimension.
  6. Clutter-You CAN take it with you…for a price. Think about the real dollars associated with boxes and storage, plus the time, energy and cost of moving all that “stuff”. Do you really NEED it? Maybe it’s time to redefine “need”. Getting rid of unused or tired items will allow you to move with ease into your new space. Most importantly, your current house will feel more spacious and be easier to maintain while on the market.
  7. Style– Does your design style need a shrink? Does your home have multiple personalities? Too many design styles leave a room confusing and lacking drama. It can be difficult to make pieces of varying scale and color work together in same room. “Eclectic” is a great look when done tastefully, but pulling it off can be challenging, even for the pros. A few antique pieces make for great accents, but too many pose a challenge and can make a home feel like grandma lives there. Your home’s architecture should determine style of the furnishings. Stagers and decorators often choose “transitional” pieces because whey will work with almost any architectural style or period, and well with existing pieces.
  8. Carpet in Kitchens and Baths – Yuck! Need I say more?
  9. Odors– You can’t sell it if you can smell it! Because our olfactory senses quickly become conditioned to smells, the  homeowner is probably not in the best position to assess the smell (or preferably the lack there-of) of the home. Get an objective opinion from a fastidious friend, keeping in mind that women have a more highly developed sense of smell than men. Common sources of unpleasant odors are cooking methods (frying and spices), pets, damp basements, smoking, and infants. If you detect a problem, identify the source, and let a stager help you choose the best strategy to eradicate the odor.
  10.  Hire it done! – It is important to be realistic about your skill level. Even if your skills could land you a show on HGTV, keep in mind the amount of time it will take you to do any given task…and then double your estimate. Your best bet is to get help from friends and family or “hire it out”. Keep your expectations reasonable and use your time for the things you’re confident doing, or that only you can do.