How current events impact business & real estate

Monday, November 22, 2021

Real Estate Brokerage - 11/18/2021 NYS Board of Real Estate meeting summary

On November 18, 2021, the NYS Board of Real Estate continued its mission of optimizing the regulation of real estate brokers in our state by holding its meeting. 

To remind real estate brokers and salespersons, the public is welcome at these meetings where the public can bring comments from the floor. Its 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.

In summary, the following was discussed:

  • Exam Results - January through September 2021:
    • Salesperson = 20,046 applicants with a pass rate of 54%
    • Broker = 1,477 applicants with a pass rate of 57%Order U
  • License Enforcement - July through November 2021:
    • Complaints = 273
    • Investigations Completed = 188
    • Closed (no violations) = 26
    • Closed (warning / instruction letter) = 31
    • Closed (private resolution) = 7
    • Closed (abandoned) = 16
    • Closed (duplicate) = 9
    • Closed (insufficient evidence) = 51
    • Closed (civil matter jurisdiction) = 7
    • Hold (licensee action required prior to renewal) = 13
    • Referred for Disciplinary Prosecution - 28
  • Live distance education is still permitted 
The 2022 meetings are February 17th (1pm); July 21st (1pm); and November 17th (1pm). 

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