New York Real Estate Institute

Professional classes include real estate and title closing

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New York Real Estate Institute

New York Real Estate Institute

Our Take

New York Real Estate Institute (NYREI) is an educational institution headquartered in New York that offers an array of real estate and professional courses on campus and online. These courses include pre-licensing for agents and brokers, as well as continuing education and exam prep courses. Seminars and entrepreneurship training programs are available as well. It’s a good option for those who want to work in the real estate industry in New York because it provides courses for different stages of your real estate career. 

  • Pros & Cons
  • Key Takeaways
  • Company Overview
Pros & Cons
Pros
  • Student benefits

  • Financial assistance

  • Job placement

Cons
  • No live chat option

  • No mobile app

  • Only offered in New York

Key Takeaways
  • New York Real Estate Institute offers online and on-campus real estate pre-licensing courses for salespeople and brokers.
  • Continuing education classes, exam prep, and career courses are available.
  • New York salesperson licensing course packages start at $189.
Company Overview

New York Real Estate Institute was founded in 1987 and is a member of the Real Estate Education Association. Its goal is to offer flexible class schedules at convenient locations to help build the real estate experts of the future. The school focuses on providing quality instruction and expert career advice and takes a novel approach by offering a weekly, rotating course for salespeople that can be started anytime.

The school’s mission is to provide a higher standard of real estate learning and puts emphasis on each course assisting students in furthering their knowledge of the industry's professional standards and conduct. Courses are offered online and on five New York campuses located throughout Manhattan, Long Island, Brooklyn, Queens, and West Chester.

  • Year Founded 1987
  • Kinds of Courses Prelicensing, continuing education, exam prep, appraiser, and investing classes
  • Number of States Where Courses Are Offered 1
  • Price $189+ for pre-licensing package
  • Contact Telephone: 212-967-7508
  • Official Website www.nyrei.com

NYREI is not one of our top-rated real estate schools. You can review our list of the best online real estate schools for what we think are better options.

New York Real Estate Institute is an educational institution that offers courses in real estate, real estate appraisal, mortgage, and real estate investing. You can choose between online or on-campus options. The online courses can be started as soon as you sign up and are offered in a self-paced format. The school offers a wide variety of course topics at varying times throughout the week and weekend. It is licensed and found employment for more than 100,000 of its former students. It’s well regarded throughout New York and licenses more New York real estate agents than any other school.  

New York has a lot of tourists and visitors and thus it’s important to know different building’s policies on short-term rentals. New York real estate classes teach about condo bylaws, the difference between condos and co-ops, and rules for temporary rentals which are helpful for practicing agents and brokers. 

Pros Explained

  • Student benefits: These include discounts on healthcare, discounts on courses for certain professionals such as police looking to transition careers, and discounts on file saving and sharing software. 
  • Financial assistance: The school offers payment plans and accepts some workforce vouchers to help pay tuition, as well as the VA GI bill. Contact the school for specifics. 
  • Job placement: Students have access to job placement tools, lists of companies that are currently hiring, hiring events, career coaching, and introductions to sponsoring brokers.

Cons Explained

  • No live chat option: 24/7 customer service isn’t available so if you have a question after hours, you will need to send an email or wait until the school is open again. 
  • No mobile app: Courses aren’t as easily taken on the go because there isn’t a mobile app so it may restrict you to studying at home or at your office computer. 
  • Only offered in New York: If you want to get licensed in another state or multiple states, this isn’t the school for you. It strictly focuses on New York. 

Available Courses

NYREI offers pre-licensing real estate agent courses, pre-licensing courses for brokers, exam prep, and continuing education classes. Continuing education classes are required to keep your license in good standing and help refresh your industry knowledge, and keep you up to date on new topics. 

Additionally, there are a variety of real estate-related courses including mortgage broker classes, appraiser classes, notary courses, and classes on real estate investing and entrepreneurship, as well as forums and seminars. This is convenient if you want to pursue two fields of study from the same school or if you’re already working in real estate and want to expand your knowledge or specialize in a niche such as helping real estate investors find properties. 

Salesperson Pre-Licensing

Salesperson pre-licensing courses are usually offered on one of the five New York campuses or as self-paced online courses. Customer support and instructor support are included with all salesperson classes. The online self-paced pre-licensing course is $189 and just includes the course. A textbook is an additional $45 and exam prep also needs to be purchased separately. 

In addition to the self-paced course, there are three pre-licensing packages usually taken in a classroom but now offered live online. The Basic Package is $495 and includes the course and lifetime job placement assistance. The Professional Package is $750 and also includes an intro to real estate seminar, two sessions of school exam tutoring, and a $50 credit towards continuing education. The Platinum Package includes everything from the Professional Package plus a hard copy of the textbook, additional practice exams, additional tutoring sessions, guidance counselor and career advisor, and 10% off other NYREI classes. 

All courses satisfy the required 75 hours of New York real estate material and include student support and instructor support. They also include updated New York real estate laws and regulations, practice math questions, and real estate glossaries of commonly used terms. 

Exam Prep

New York Real Estate Institute offers an exam prep package for $49.99. It’s online and includes four 75 question practice exams to help you prepare for the state exams. Once you purchase exam prep, it works on any device, is accessible immediately, and is good for 90 days. It also comes with a guarantee that if you don’t pass the state exam, you will get your money back. Customer support is included to answer any questions. All material has been updated through 2020 and is based on New York real estate regulations. 

Additionally, there are additional exam prep books available in the bookstore starting at $45 and the Pre-licensing Platinum package includes exam prep. 

Continuing Education

New York Real Estate Institute offers individual and packages of continuing education classes for both real estate agents and brokers. Course topics include green buildings, commercial real estate, landlord-tenant law in New York, and 1031 exchanges. Classes vary from 3.75 to 11 hours and individual class prices range from $40 to over $275 depending on the topic. Most classes can be taken online or in a classroom and schedules are posted on the website. 

If you purchase a continuing education package, it includes the 22.5 required hours to renew your real estate license; it's offered online and is priced at $189 (as of August 2021). Topics include social media ethics, agency concepts and disclosure, contracts, fair housing, and real estate legal matters. 

Other Courses

In addition to the standard pre-licensing, exam prep, and continuing education courses, New York Real Estate Institute also offers the following additional courses:

  • Appraisal Licensing
  • Home Inspection Licensing
  • Mortgage Loan Originator
  • Investment Courses and Forums
  • Real Estate Entrepreneur Training Programs
  • Seminars
  • Notary classes and additional career courses

Course formats and costs vary but many students find it helpful to be able to take classes in other disciplines to learn more about different parts of the industry such as real estate investing. 

New York real estate is much different than real estate in most other states, especially if you’re working in the New York City area. Most contracts involve a lawyer and you will need to be familiar with condo bylaws and the rules of co-ops because both property types are common. 

Course Format

There are two class formats: online and in-person. Classes are offered 24/7 online and seven days a week at varying campuses with daytime and nighttime schedules. NYREI offers one of the most flexible class schedules with more class times than most other schools. Some live classes are currently being offered as livestream.  

All real estate licensing and continuing education courses are certified by The New York Department of State. This means that the school is legitimate and teaches the appropriate courses to receive and renew your real estate license in the state of New York. Pre-licensing courses include the required 75 hours of real estate practice coursework and include topics such as agency, property basics, and valuation. Courses are designed to be engaging with chapter reviews, colorful videos, and quizzes designed to prepare students for the licensing exam. 

Instructors

The instructors at New York Real Estate Institute are all real estate industry experts and top professionals in their respective fields. Some of the instructors have also authored real estate licensing textbooks and other books on real estate topics that are for sale in the online book store. However, there aren’t any bios on the school’s site so you can't read about their background. 

Once you sign up for a class, you will be given the instructor’s contact information and office hours availability. 

Reputation

New York Real Estate Institute is well known in New York as a top real estate school and on its website it claims to have a high exam passage rate of 95% on agent pre-licensing courses. Former students have positive reviews on the site and third-party sites praising the knowledgeable instructors and the variety of classes and class times. However, NYREI is not accredited by IDECC or ARELLO. This means the school didn’t meet either of the institutions’ strict accreditation criteria. 

Price 

New York Real Estate Institute offers courses for current and aspiring real estate agents and real estate brokers who are working in or want to work in New York. The online courses for pre-licensing are currently reduced from $199 to $189 (as of August 2021) but can change at any time. These online courses are competitively priced and are on the lower-end compared to other schools. On-campus pre-licensing course packages start at $495. Exam prep classes start at $49.99 and continuing education packages that meet the license renewal requirements are reduced from $199 to $189. 

Customer Service 

You can reach customer service at New York Real Estate Institute on their website www.nyrei.com through an online contact form or by phone at 1-212-967-7508. The school has customer service agents answering the phones Monday to Thursday from 8 a.m to 8:30 p.m, Friday from 8 a.m. to 6 p.m, and Saturday and Sunday from 8 a.m to 2 p.m. EST.

You may also find the answer to one of your questions on their site in the FAQs. Additionally, once you sign up for a class, you will get the contact information for your instructor and can contact them during their availability which is via email and over the phone–each instructor sets their own availability.  

Competition: New York Real Estate Institute vs. Real Estate Express

Real Estate Express is an IDECC and ARELLO accredited online real estate school, meaning that the school has met the high standards for online education that both institutions have. It teaches real estate classes online in two formats: livestream and self-paced, but it doesn’t have any campus locations. The school has positive former student reviews and is part of a large real estate education group of companies, McKissock. Pre-licensing courses are available in 34 states and continuing education classes are offered through its partners in all 50 states. 

We compared Real Estate Express with NYREI because both schools offer pre-license, exam prep, and continuing education classes online in New York as well as career resources on their websites. However, there are some differences as well. Real Estate Express is accredited and offers classes in numerous states in two online formats which is why we recommend choosing these courses. 

  New York Real Estate Institute Real Estate Express 
Pricing $189+ for pre-licensing in New York $216.30+ for pre-licensing in New York
Courses Offered Real estate licensing continuing ed, exam prep, notary, and more  Real estate licensing, exam prep, and continuing ed 
Number of States Courses are Offered  50 
Course Format  Self-paced online and in classroom  Live online and on-demand 
Final Verdict

New York Real Estate Institute is a viable option if you’re interested in attending real estate courses with the intention of working somewhere in New York. Some of its advantages include its job placement resources, flexible schedules, and multiple professional classes and seminars. 

However, it isn’t IDECC or ARELLO certified and only offers courses in New York. This may influence your decision to choose another school that is certified and offers courses in multiple states for a more affordable price.

Our Methodology: How We Review Real Estate Schools

We researched and analyzed numerous facets of each real estate school with a quantitative approach in mind. Some of the elements considered include costs of the classes, course formats, accreditation, and former student reviews. We also look at the overall reputation of the provider, geographic areas where the courses are available, and instructor qualifications. Additionally, we assess how easy it is to navigate the website and whether it includes additional student resources such as blogs, webinars, and career tips.