How to become a real estate agent in New York

There are many common misconceptions about getting into real estate. So we asked a handful of current brokers from various firms to shed some light on what it takes to make it as a real estate agent.

Here are their top pieces of advice.

Don’t be embarrassed about being broke. “I think there’s a stigma about getting a real estate license being expensive. That’s just not true.” — John Larizadeh, New York, One Washington Square

Don’t start too late. “If you want to jump into it early, you have to be really dedicated. Real estate is not a lucrative job. It’s just a job, you know? But you have to have an absolutely different attitude when you do that, because it’s a field where you can earn a lot of money but also lose a lot of money in a short amount of time, and that’s what everyone always tells you — you have to work really, really hard.” — Sarah Cohen, team lead Chelsea NYC

Tread lightly with finances. “You will also face frustrations with payments. There are a lot of steps, a lot of paperwork, which can take up a lot of time. They’re like icebergs, actually.” — Andre DeLeo, broker, Chelsea NYC

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Think smart. “Think about real estate as a business. It’s just like any other business.” — Kevin Hennessy, team lead, Chelsea NYC

Remember, it’s a business. “You don’t have to jump into this as a career, because it’s hard and time-consuming and you get burnt out really so quickly. And you’ll have a really hard time making any money. If you do want to work it, go in as a side hustle. Do it on the side.” — Brian Trautwein,  Manhattan NYC

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Don’t try to get rich. “Not everyone has to make a million dollars. Real estate is not a form of employment where you go in and make a lot of money. If you work for someone else and you’re in a management position and you make your goal to make $10,000 or $15,000, but they’re making $100,000, you’re just not going to be on the same playing field. You can make that amount of money, but I would say, that’s not going to be the goal.” —Javier Palomarez, president and CEO of the Hispanic Chamber of Commerce of New York

Do your research. “A big misconception need to clear here that real estate is just about putting a sign in the front yard and going out and trying to sell homes. It’s not. You need to know the legalities, you need to know the regulations, you need to know how to market your listings, and all these other aspects that are associated with it. Once you’ve done that, that’s when you start seeing how you make some real money.” — Andre DeLeo

Don’t aim for No. 1. “This is a competitive industry. If you’re working your way up, you can become No. 1 in the city, but at the end of the day, you’re not going to be No. 1 in the county. What is important is having a stellar reputation that stands out in the market. By that, we mean, people know they can come to you for your services and that you have the reputation to provide it.” — Joe Ehrmann, Chelsea NYC

Legally, the top real estate deals — the ones in which agents get multiple deals and their profits are going to be significant — are reserved for the agents who win a competition or a competition. “To be No. 1 in that industry, a person has to take that title and then immediately turn around and put it in the bank, not spend it. So there’s a reason why it’s considered a profit-sharing program.” — Meghan Weber, New York

“If you’re really wanting to make big money, then the only real way to do it is to become a company or large owner-operator. But that’s very, very difficult, so it’s really about getting these leads in the first place. The only way to get leads is to connect with people through referrals.” — Fernando Torres, Manhattan NYC.

Even when you are top in the market, everyone wants you. “The No. 1 misconception that is on people’s minds is, ‘How can I make the most money in real estate?’ It’s really, like, ‘How can I make the most money in real estate in my most profitable sector?’ And the honest answer is that you’re going to make the most money by focusing on what your strengths are and you’re going to capitalize on the strengths that you have.” — Debra Halpern, NYC.

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Real Estate Resource NYC offered Online Review Course For NYS License Exam provides online review courses and interactive courses to give you an edge in the real estate market.