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How to start a real estate business in New York

Real estate agent, broker, investor, property manager, or short-term rental host.

Recommended structure
LLC
Typical startup cost
$1,000 – $20,000
State
New York

Step-by-step

  1. 1
    Form an LLC (one per property if investing) and get an EIN
  2. 2
    Get your state real estate license (if becoming an agent)
  3. 3
    Join a brokerage (agents) or set up your investment entity
  4. 4
    Open a business bank account per LLC
  5. 5
    Get E&O insurance (most brokerages require it)
  6. 6
    Set up a CRM (Follow Up Boss, kvCORE) and a Google Business Profile

Licenses & permits you'll likely need

  • State real estate license (agent or broker)
  • Property management license (some states)
  • Short-term rental permit (city/county)
  • DBA registration

Exact requirements vary by city and county. Confirm locally before you operate.

Insurance

  • • E&O (errors & omissions)
  • • General liability
  • • Landlord insurance (for rentals)

Tax notes

Real estate has incredible tax advantages — depreciation, 1031 exchanges, cost segregation. Get a real estate-savvy CPA.

Business banking

Investors should hold each property in its own LLC with its own bank account for liability protection.

Official New York filing links

File LLC / Corp with New York
New York Department of State
Search business name
Confirm your name is available
Apply for an EIN (IRS)
Free federal tax ID
See full New York resource page

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