A Real Estate Salesperson recently asked the following question:

Question: "If a broker released my license, can I still take the CE 22.5 hours and get credit towards my license? Or do I have to wait until a broker hires me? "

Answer (from The Department of State of NY): A renewal license will be issued to any licensee eligible to renew who has not been expired over 2 years, has completed the 22.5 hours of continuing education or is exempt and is associated with a broker at the time of renewal. There is nothing in the continuing education regulations that require a sponsoring broker be in place to be eligible to complete continuing education.

• As to escrow, we now know that we must deposit all escrow money within 3 business days and hold it in a secure place like a safe until such time as its deposited in the bank.

• As to compensation, we have learned that if we are paid by more than one source, we no longer have to receive consent from all parties, just our client.

• As to advertising, we understand that business cards must include our license type.

• As to qualifying education, we know that we now need to learn 1 hour on the new topic of License Safety, but the topic of Property Insurance has been reduced to only 1 hour from 2. 

• Finally, with respect to continuing education, we no longer have to take a minimum of 3 hours in a course module, but can take only 1 hour when such a course is available (Lieb School is launching a 1 hour Agency Disclosure course very soon) and each hour is now only 50 minutes long (for bathroom breaks, etc.) whereas it used to be a 60 minute requirement. 

NY Real Estate Continuing Education 22.5 Credit 

License Renewal Course Package 

On 9/20/16 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 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.

In summary, the following was discussed:

1. The partnership between the Department of State and the Division of Human Rights to enforce fair housing laws; 
2. The new agency disclosure continuing education requirements as signed by the Governor into law earlier this month; 
3. Diversity being an approved topic for continuing education;
4. Notice of regulatory changes for the following topics will appear on the state register for 45 day comment period on 9/28/16: 19 NYCRR 175.1 (escrow and how much time can be held before deposited), 19 NYCRR 175.7 (consent of parties), 19 NYCRR 176.3 (license safety course and reduction in hours to property insurance course), 19 NYCRR 177.3 (allows training modules to be 1 hour rather than 3), 19 NYCRR 177.7 (allows the computating the computation from 60 to 50 minutes), and 19 NYCRR 175.25 (advertisements of business cards that license type be listed as a clarification); and
5. Changing point allocation for acting as listing agent and selling agent.