Real estate agent exams down in December

In December, 25 percent fewer people took the real estate sales agent exam compared to December 2007. The New York Real Estate Institute used to offer three exam sessions for potential sales agents per week, but has cut down to two sessions since July, which is also when the state increased the number of required hours for the licensing course from 45 hours to 75 hours. Long-time brokers say anyone starting out as an agent should have at least six months of cash saved because especially during the downturn, sales won’t come easily. And even during the boom years, real estate pros say eight in 10 new agents leave the business within the first year.