New York Real Estate Salesperson ExaminationNew York State Specific Laws and RegulationsEasy
A New York real estate broker is preparing to renew their license. Which of the following is a mandatory continuing education requirement for all licensees?
- AA minimum of 3 hours in commercial real estate transactions.
- BAt least 2 hours of agency disclosure, including at least 1 hour of buyer agency and 1 hour of seller agency.
- CCompletion of a 3-hour course on property management best practices.
- DA 1-hour course on environmental hazards specific to New York State.
Show answer & explanationAnswer & explanation
Correct answer: B. At least 2 hours of agency disclosure, including at least 1 hour of buyer agency and 1 hour of seller agency.
New York State real estate license renewal requires specific continuing education. Among these, a crucial component is agency disclosure, ensuring licensees are up-to-date on their obligations to both buyers and sellers.
Why the other options are wrong
- A. Commercial real estate is not a mandatory continuing education topic for all licensees.
- C. Property management best practices are not a mandatory continuing education topic for all licensees.
- D. While environmental issues are important, a specific 1-hour course on NY environmental hazards is not a mandatory CE requirement for all licensees.
NY Real Estate CE: Agency
New York State real estate licensees must complete mandatory continuing education, including specific hours dedicated to agency disclosure, covering both buyer and seller agency.
- Required for license renewal
- Includes 2 hours of agency disclosure
- Must cover 1 hour of buyer agency and 1 hour of seller agency
Memory trick: Renewing your NY license? Remember the Agency ABCs: Always Be Compliant!