New York Real Estate Prelicense Courses Online
New York Real Estate Salesperson License Online

The objective of this course is to prepare an aspiring salesperson for the New York Real Estate pre-licensing exam. The course seeks to do this by guiding the student from an understanding of New York Real Estate License Law and administrative codes to a comprehension and internalization of agency law.

NY Real Estate Salesperson License 75.0 Hours  $229.00 
Module 1: Real Estate License Law Rules and Regulations

• Introduction

• Lesson 1: Licensure
  • o Introduction
  • o A. Purpose of Licensing Law
  • o B. Categories of Licensure
  • o C. Responsibilities of Licensure
  • o D. Education Requirements for Licensure
  • o E. Duties That Require Licensure
  • o F. Exemptions from Licensure
  • o G. Maintaining a License
  • o Lesson Assessment

Continued Below

• Lesson 2: Guidelines and Regulations
  • o H. Change of Association and Termination of Association
  • o I. Dual Licensure for Brokers and Salespersons
  • o J. License Renewal and Continuing Education
  • o K. Regulations Affecting Brokers and Salespersons: Article 12A, Real Estate License Law
  • o L. Guidelines on Advertisements
  • o M. Common Violations of License Law
  • o N. Liabilities And Penalties for Violation of Law or Regulations
  • o O. Unlicensed Assistants Guidelines
  • o P. Article 14: Property Condition Disclosure Act
  • o Q. Disclosure of Uncapped Natural Gas Wells: Section 242 of Real Property Law
  • o R. Case Studies Involving Disciplinary Proceedings Instituted by Department of State
  • o Lesson Assessment
  • • Key Terms Review
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Module 2: Law of Agency

• Introduction
• Lesson 1: Fundamentals of Agency
  • o 1. Introduction
  • o A. The Real Estate Agent
  • o B. The Agent as Fiduciary
  • o C. Agency and Brokerage: Are They Synonymous?
  • o D. The Creation of Agency
  • o E. Agency Alternatives
  • o F. Subagency/Subagent or Buyer's Broker?
  • o G. Dual Agency
  • o H. Consensual Dual Agency: Does it Work?
  • o I. Agency Relationships
  • o J. Termination of Agency
  • o K. Forms and Disclosure Policy
  • o L. Disclosure Requirements under Section 443 of the Real Property Law
  • o M. Completing the Signature Page
  • o Lesson Assessment
  • • Lesson 2: Independent Contractor Employee
  • o A. The Nature of the Independent Contractor Relationship
  • o B. Independent Contractor or Employee
  • o C. Common Law
  • o D. 1986 Independent Contractor Laws: New York State
  • o E. Compliance with 1986 Law
  • o F. Elements of Independent Contractor Relationship
  • o Lesson Assessment
  • • Key Terms Review

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Module 3: Legal Issues

• Introduction
• Lesson 1: Estates and Interests
  • o A. Introduction
  • o B. Uses of Real Property
  • o C. Freehold Estates
  • o D. Leasehold Estates
  • o E. Forms of Ownership
  • o F. Trusts
  • o G. Ownership of Real Estate by Business Organizations
  • o Lesson Assessment
  • • Lesson 2: Liens and Easements
  • o A. Encumbrances
  • o Types of Liens
  • o Effect on Liens and Title
  • o Priority of Liens
  • o Subordination Agreements
  • o Deed Restrictions
  • o Types of Easements
  • o Creating and Terminating an Easement
  • o Lesson Assessment
  • • Lesson 3: Deeds
  • o A. Definition and Purpose of Deeds
  • o C. Essential Elements of a Deed
  • o D. Forms of Deeds
  • o E. Conveyance after Death
  • o Lesson Assessment
  • • Lesson 4: Title and Closing Costs
  • o Introduction
  • o The Title Closing
  • o Closing Costs and Adjustments
  • o Lesson Assessment
  • • Key Terms Review

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Module 4: The Contract of Sales and Leases

• Introduction
• Lesson 1: Leases
  • o A. Definition
  • o B. Types of Leasehold Estates
  • o C. Standard Lease Provisions
  • o Lesson Assessment
  • • Lesson 2: Contracts
  • o A. Definition
  • o B. Types of Contracts
  • o C. Essentials of a Valid Contract
  • o D. Sales Contract
  • o E. The Use of Binders
  • o F. Purchase Offers
  • o G. Installment Sales Contract
  • o H. Lease with Option to Buy/Right of First Refusal
  • o I. Contracts Affecting Brokers
  • o J. Statute of Frauds GOL 5-703 sub. 2
  • o Lesson Assessment
  • • Lesson 3: Contract Preparation
  • o A. What Form of Contract to Use
  • o B. Data Required for Contract Preparation
  • o C. Verifying Property Description
  • o D. Who Prepares the Contract?
  • o E. The Mortgage Contingency
  • o F. The Down Payment
  • o G. Contract Procedures
  • o H. Customs and Practices Regarding Signing of Contract
  • o Lesson Assessment
  • • Key Terms Review

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Module 5: Real Estate Finance

• Lesson 1: Introducing Real Estate Finance
  • o A. Mortgage
  • o B. Duties of a Mortgagor
  • o C. Sale of a Property that has a Mortgage
  • o D. Recording of the Mortgage
  • o E. General Types of Mortgages
  • o F. Specific Loans and Payment
  • o G. Government Backed Loans
  • o H. Secondary Markets
  • o I. Truth in Lending
  • o J. PMI
  • o K. Lender’s Criteria for Granting a Loan
  • o Lesson Assessment
  • • Lesson 2: Predatory Lending
  • o What is Predatory Lending?
  • o Subprime Loans
  • o Fraud
  • o Predatory Lending Laws
  • o Lesson Assessment
  • • Key Terms Review

Module 6: Land Use Regulations

• Introduction
• Lesson 1: Why Land Use Planning?
  • o A. Bundle of Rights and “As of Right Zoning”
  • o B. The Need to Plan for the Future
  • o C. Private Land Use Controls
  • o D. Police Power
  • o E. The Planning Board
  • o F. The Zoning Board of Appeals
  • o Lesson Assessment
  • • Key Terms Review

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Module 7: Construction and Environmental Issues

• Introduction
• Lesson 1: Construction
  • o Introduction
  • o A. Land Use
  • o B. Site Requirements
  • o C. Site Use
  • o D. Structure
  • o E. Structural Tie-in of All Components
  • o F. Energy Efficiencies
  • o G. Tie-In of Insulation with Structural Components
  • o Lesson Assessment
  • • Lesson 2: Major Systems Heating - Air Conditioning, Plumbing and Electrical
  • o A. Ventilation
  • o B. Types of Heating Systems and Components
  • o C. Electrical
  • o D. Mandated Guarantees and Warranties
  • o Lesson Assessment
  • • Lesson 3: Overview of Today’s Main Environmental Issues
  • o A. Longstanding Issues
  • o B. Contemporary Issues
  • o Lesson Assessment
  • • Lesson 4: Agent’s Role
  • o Impact on a Salesperson/Broker
  • o Liability on Salesperson/Broker
  • o Lesson Assessment
  • • Key Terms Review

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Module 8: Valuation Process and Pricing Properties

• Introduction
• Lesson 1: Valuation and Pricing
  • o A. Differences Between Appraisal, Valuation, and Evaluation
  • o B. Difference between Value, Price, and Cost
  • o C. Comparative Market Analysis
  • o D. Residential Market Analysis
  • o E. Salesperson’s Role
  • o F. Highest and Best Use
  • o G. Site Valuation
  • o H. Three Approaches to Value
  • o I. Pricing Properties
  • o Lesson Assessment
  • • Key Terms Review

Module 9: Human Rights and Fair Housing
• Introduction
• Lesson 1: Fair Housing
  • o Pressure from Society
  • o Broker’s Responsibility
  • o Salesperson’s Responsibility
  • o Federal Laws
  • o New York State Law
  • o Exemptions and Exceptions
  • o Types of Discrimination
  • o Responsibility in the Legal Sense
  • o The Fair Housing Agent
  • o Cease and Desist Lists
  • o Non-Solicitation Orders
  • o Lesson Assessment
  • • Key Terms Review

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Module 10: Real Estate Mathematics

• Introduction
• Lesson 1: Percentages
  • o Commissions
  • o Interest
  • o Appreciation and Depreciation
  • o Points
  • o Lesson Assessment
  • • Lesson 2: Calculating Area and Length
  • o Square Feet
  • o Irregular Lot Size
  • o Perimeter
  • o Acre
  • o Hectare
  • o Price per Square Foot
  • o Lesson Assessment
  • • Lesson 3: Basic Mortgage Qualifying
  • o Mortgages
  • o Lesson Assessment
  • o Lesson 4: Rates
  • o Real Property Transfer Tax
  • o Mortgage Recording Tax
  • o Real Property Tax
  • o Lesson Assessment
  • • Key Terms Review

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Module 11: Municipal Agencies

• Introduction
• Lesson 1: Agencies and Their Functions
  • o City/Town Council Elected
  • o Village Board of Trustees Elected
  • o Adoption of Laws and Ordinances Including Zoning Ordinance and Cluster Zoning Approval
  • o Adoption of Budget and Tax Rate
  • o Planning Board: Appointed
  • o Zoning Board of Appeals
  • o Architectural Review Board
  • o Conservation Advisory Council/Wetlands Commission
  • o Historic Preservation/Landmark Commission
  • o Building Department
  • o Planning Department
  • o Tax Assessor
  • o Receiver of Taxes/Treasurer
  • o City/Town/Village Engineer
  • o County Health Department
  • o Lesson Assessment
  • • Key Terms Review

Module 12: Property Insurance

• Introduction
• Lesson 1: Property Insurance Basics
  • o The Purpose of Property Insurance
  • o Choices in Purchasing Property Insurance
  • o Types of Policies
  • o Standard Coverage on a Home-Property, Liability, Medical
  • o Basic Types of Homeowners and Tenant Policies in New York
  • o The Amount of Insurance Needed
  • o Problems in Obtaining Insurance
  • o Cancellation and Non-Renewals of a Policy
  • o The Cost of Homeowner’s Insurance
  • o Insurance Policy Deductibles
  • o Other Types of Property Insurance
  • o Real Estate Agent’s Role
  • o Lesson Assessment
  • • Key Terms Review

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Module 13: Taxes and Assessments

• Introduction
• Lesson 1: Taxes and Assessments
  • o A. Purpose and Reasons for the Taxation of Real Estate
  • o B. Why Tax Land and Improvements?
  • o C. Calculation of Real Estate Taxes
  • o D. Assessed Value
  • o E. Tax Rate
  • o F. Various Taxing Jurisdictions
  • o G. Equalization
  • o H. Special Assessment Districts
  • o I. Exemptions
  • o J. Protesting Assessments
  • o K. Tax Assessor
  • o L. Grievance Board
  • o M. Small Claims Assessment Review
  • o N. Protesting Commercial Property Assessments
  • o O. Tax Liens
  • o P. Agent Responsibilities
  • o Lesson Assessment
  • • Key Terms Review

Module 14: Condominiums and Cooperatives

• Introduction
• Lesson 1: Condominiums
  • o A. Define Condominium
  • o B. Condo Issues
  • o C. Letters of Intent
  • o D. Price Changes
  • o E. Certificate of Occupancy
  • o F. Flipping/Simultaneous Closings-Developer's Policy
  • o G. Title Issues in the Purchase of Condominiums
  • o H. Closing Costs
  • o Lesson Assessment
  • • Lesson 2: Cooperatives
  • o A. The Definition of a Cooperative and Shares
  • o B. Due Diligence Issues
  • o C. Documents Needed by Agent for Sale/Purchase of Co-ops
  • o D. Financing
  • o E. Cooperative Board Application and Interview Preparation
  • o F. Primary Residency vs. Subletting Issues in Co-ops
  • o G. Define and Differentiate a "Condop" from a Condominium and Cooperative Property
  • o Lesson Assessment
  • • Key Terms Review

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Module 15: Commercial and Investment Properties

• Introduction
• Lesson 1: Characteristics of Real Property Investments
  • o Characteristics of Real Property Investments
  • o Investment Property Types
  • o C. Property Analysis and Terminology
  • o Lesson Assessment
  • • Key Terms Review

Module 16: Income Tax Issues In Real Estate Transactions

• Introduction
• Lesson 1: Income Tax Issues in Real Estate Transactions
  • o Taxpayer Relief Act of 1997
  • o Lesson Assessment
  • • Key Terms Review

Module 17: Mortgage Brokerage

• Introduction
• Lesson 1: Mortgage Brokerage
  • o What is a Mortgage Broker?
  • o Requirements and Responsibilities of a Mortgage Broker
  • o Dual Agency Disclosure under the Banking Law for those who are also

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Real Estate Brokers

  • o Mortgage Broker vs. Mortgage Banker
  • o The Role of a Mortgage Broker in the Real Estate Transaction
  • o Lesson Assessment
  • • Key Terms Review

Module 18: Property Management

• Introduction
• Lesson 1: Introduction to Property Management
  • o Introduction
  • o The Management Agreement
  • o Skills Required of a Property Manager
  • o Differences Between Markets
  • o Obligations to Owner
  • o The Management Field
  • o Examples
  • o Lesson Assessment
  • • Key Terms Review

18 quizzes (5 questions each), 1 final exam (75 questions)

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New York Real Estate Prelicense Courses Online
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