N.Y. Comp. Codes R. & Regs. tit. 19 § 179.3

Current through Register Vol. 46, No. 51, December 18, 2024
Section 179.3 - Experience point schedule
(a) Experience points shall be credited an applicant in accordance with the following schedule:

REAL ESTATE BROKER POINT SYSTEM FOR LICENSED SALESPERSON ACTIVITY ONLY

Category

Point Value

RESIDENTIAL SALES:

1. Single Family, condo, co-op unit, multi- family (2 to 8-unit), farm (with residence, under 100 acres)

250

2. Exclusive listings

10

3. Open listings

1

4. Binders effected

25

5. Co-op unit transaction approved by seller and buyer that fails to win Board of Directors approval

100

RESIDENTIAL RENTALS:

6. Rentals or subleases effected

25

7. Exclusive Listings

5

8. Open Listings

1

9. Property Management

- Lease renewal

2

- Rent collections per tenant/per year

1

COMMERCIAL SALES:

10. Taxpayer/Storefront

400

11. Office Building

400

12. Apartment Building (9 units or more)

400

13. Shopping Center

400

14. Factory/Industrial warehouse

400

15. Hotel/Motel

400

16. Transient garage/parking lot

400

17. Multi-unit commercial condominium

400

18. Urban commercial development site

400

19. Alternative sale type transaction

400

20. Single-tenant commercial condo

250

21. Listings

10

COMMERCIAL LEASING:

22. New Lease-aggregate rental $1 to $200,000

150

23. New Lease-aggregate rental $200,000 to $1 million

250

24. New Lease-aggregate rental over $1 million

400

25. Renewal-aggregate renewal $1 to $200,000

75

26. Renewal-aggregate rental $200,000 to $1 million

125

27. Renewal-aggregate rental over $1 million

200

28. Listings

10

COMMERCIAL FINANCING:

(includes residential properties of more than four units):

29. $1 to $500,000

200

30. $500,000 to $5,000,000

300

31. Over $5,000,000

400

MISCELLANEOUS:

32. Sale vacant lots, land (under 100 acres)

50

33. Sale vacant land (more than 100 acres)

150

34. Other must be fully explained. -

TOTAL POINTS NEEDED:

3500

(b) An applicant shall have the burden of establishing to the satisfaction of the department that the applicant actually performed the work associated with the real estate transaction claimed as experience credit.

N.Y. Comp. Codes R. & Regs. Tit. 19 § 179.3

Amended New York State Register May 20, 2015/Volume XXXVII, Issue 20, eff.5/20/2015