A "real estate broker" means any person, firm, limited liability company or corporation, who, for another and for a fee, commission or other valuable consideration, lists for sale, sells, at auction or otherwise, exchanges, buys or rents, or offers or attempts to negotiate a sale, at auction or otherwise, exchange, purchase or rental of an estate or interest in real estate, or collects or offers or attempts to collect rent for the use of real estate, or negotiates or offers or attempts to negotiate, a loan secured or to be secured by a mortgage, other than a residential mortgage loan, as defined in §590 of the Banking Law, or other incumbrance upon or transfer of real estate, or is engaged in the business of a tenant relocator, or who, notwithstanding any other provision of law, performs any of the above stated functions with respect to the resale of condominium property originally sold pursuant to the provisions of the General Business Law governing real estate syndication offerings. It is the responsibility of licensees to understand the Real Estate License Law, where a more detailed definition of "real estate broker" can be found, including information about different types of brokers:
• Individual Broker • Associate Broker • Trade Name Broker • Limited Partnership Broker • Corporate Broker
LICENSE LAW — pdf It is the responsibility of licensees to understand the Real Estate License Law.
§179.1 Qualifying experience - THIS REGULATION HAS BEEN SUPERSEDED BY STATUTORY CHANGES AND IS NO LONGER VALID (Please see below changes*).
An applicant for licensure as a real estate broker must possess one year of full-time experience as a licensed real estate salesperson under the supervision of a licensed real estate broker or the equivalent full-time experience in general real estate business for a period of at least two years.
*Applicants seeking licensure as a real estate broker based on experience as a real estate salesperson must be licensed as a real estate salesperson for a minimum period of 2 years.
Applicants seeking licensure as a real estate broker based on equivalent experience in general real estate business must possess at least 3 years experience in real estate business equivalent to that of an active real estate salesperson.