How current events impact your business and real estate holdings

Friday, December 15, 2017

12-11-17 NYS Board of Real Estate meeting summary

On 12-11-17 the NYS Board of Real Estate continued its mission of optimizing the regulation of real estate brokers in our state by holding its meeting in NYC, Rochester and Albany. To remind real estate brokers and salespersons, the public is welcome at these meetings where the public can bring comments from the floor. It’s encouraged that Lieb School students attend these meetings to have your voices heard. 

"[T]he Board has general authority to promulgate rules and regulations affecting real estate brokers and salespersons in order to administer and effectuate the purposes of Article 12-A of the Real Property Law."

A complete video of the meeting is available on YouTube. It is noted that the meeting did not start until approximately 58:40 of the video. 
As the meeting was not well attended the only substantive discussion involved statistics from a year-to-date enforcement report as follows:
- 2353 complaints
- 1880 cases closed
- 242 referred to counsel for further review
- 315 audits conducted for licensees (94% compliant)

The 2018 meeting calendar is April 3, September 25, and December 11. 

While this meeting was brief, it should nonetheless serve as a reminder to real estate brokers, salespersons and associate real estate brokers that the threat of license law complaint is real as 2353 such complaints were made so far in 2017.