Study Materials
Master every topic of the exam, in plain language.
Principles of Real Estate
This chapter covers the foundational concepts every New York salesperson must understand: what real property is, the rights that come with ownership, how estates and interests are defined, and the basic principles of value. Master these ideas first, because the law, contracts, and finance topics all build on this vocabulary. Note that specific figures and rules can change over time, so confirm current details with the New York Department of State.
New York License Law and Agency
This chapter covers New York's license law under Article 12-A of the Real Property Law, the agency relationships salespersons form, mandatory agency disclosure, and fair housing obligations. Agency is the single most heavily tested area, so learn the fiduciary duties and disclosure timing thoroughly. Because the Department of State periodically updates rules, forms, and protected classes, always verify current requirements.
Real Estate Contracts
This chapter explains the contracts that drive real estate transactions, from listing agreements to purchase contracts. You will learn the elements that make a contract valid, how offers and counteroffers work, common contingencies, and remedies for breach. New York's attorney-centered custom means contracts are often reviewed by lawyers, and practices vary by region.
Real Estate Finance
This chapter covers how buyers pay for real estate, focusing on mortgages, loan types, key clauses, and the math of interest, points, and ratios. You will also see how the primary and secondary mortgage markets work and how federal disclosure laws protect borrowers. Practice the calculations, since finance questions often involve numbers.
Real Estate Practice: Appraisal, Property Management, and Math
This chapter brings together the applied skills of a working salesperson: estimating value through appraisal, managing property for owners, understanding leasehold estates, and performing everyday real estate math. Practice the calculations for area, commissions, and returns, since these appear often. Remember that agents should recommend professionals for tasks outside their expertise, such as inspections and formal appraisals.
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