The trade association recently announced that it will offer an advanced course for residential brokers who "wish to achieve a level of knowledge over and above the standard state requirement." Essentially, it will be the equivalent of a Master's degree in real estate brokerage.

The course will be taught in 10 different sections and, just like college, assignments may include oral presentations, book evaluations and, eek, essays! The $350 fee covers all the course materials, as well as "refreshments" (apple juice and graham crackers, no doubt).

Make sure to review your resume before enrolling, though, as the course will not be made available to industry rookies. In order to be eligible, applicants must have a minimum of three years experience as a licensed New York City broker and have completed at least 30 transactions totaling $30 million in sales or $12 million in rental deals.

Perhaps the best part of the new course is that, upon completion, brokers will be able to put the acronym NYRS (New York Residential Specialist) after their names. At the very least, all those people that chose real estate over law and medicine will finally have something to show their disappointed parents.

"This type of recognition will allow brokers to stand out among their peers and use the credential as a way to raise the bar for the industry as a whole," REBNY's President Steve Spinola said in a press release about the course.

Some brokers are skeptical, though.

"This sounds absurd," one broker who wished to remain anonymous told The Observer. "I can tell you right now that I will not be plunking down $350 for this."