Showing posts with label DOS. Show all posts
Showing posts with label DOS. Show all posts
Thursday, March 24, 2016
Monday, March 14, 2016
On 2/26/16 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, Buffalo 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."
The following pending regulations have moved forward and have one more required round of approval prior to being published in the State Register for public comment:
Pending Regulations:
1) Commingling of principal funds
2) Compensation of brokers
3) Additional license safety course
4) Changing the amount of hours from a course from 60 minutes required to 50 minutes required
5) Advertising regulations
6) Updates to the broker approval course
Next, the meeting shifted to a focus on Fair Housing in furtherance of the Governor's Fair Housing Initiative from February of this year. In support thereof, 19 NYCRR 175.17 was proposed to be amended and unanimously approved by vote. The new amended regulation will both broaden the protected classes to include all Federal, State, and Locally Protected Classes and clarify that a violation of Fair Housing, as determined by any local agency or a court of competent jurisdiction, shall be presumptive evidence of untrustworthiness in real estate brokerage wherein the Department of State may revoke a license.
In all, the meeting's apparent goal was to increase awareness and enforcement of Fair Housing, to alert agents about upcoming educational awareness and outreach planned by the Department of State, and to renew the State's focus and attention onto discrimination through a collaboration between the Department of State and the Department of Human Rights.
Wednesday, May 01, 2013
This past Friday, the NYS Department of State provided an Opinion Letter stating that the use of corporate titles by real estate agents, who do not actually hold such related authority, is misleading and impermissible.
On Friday evening attorneys and senior management at brokerage houses throughout the State were scrambling to address this issue immediately as many companies give out titles based upon agent's earnings as a reward as opposed to an implied authority and the companies needed to have a plan of action to address this change of understanding of Real Estate License Law.
Somehow the news got a hold of this Opinion Letter and now it is flying around at a rampant pace. So, what you should know is that your company can no longer permit you to utilize titles such as President, Vice President, Senior Vice President, Chairman, Vice Chairman, Managing Member, Director, Managing Director or anything else that is contained in the Business Corporation Law or Limited Liability Company Law as a term that implies authority. Instead, companies need to utilize titles without any correlated authority that does not exist.
Some articles flying around are:
The Real Deal - Brokers with false titles must now toe the line, regulators say
The Wall Street Journal - Titles Could Change for Some Real-Estate Brokers
Yet, there is no need to read the news, instead read the Opinion Letter for yourselves and understand why your companies are doing what they have to.
On Friday evening attorneys and senior management at brokerage houses throughout the State were scrambling to address this issue immediately as many companies give out titles based upon agent's earnings as a reward as opposed to an implied authority and the companies needed to have a plan of action to address this change of understanding of Real Estate License Law.
Somehow the news got a hold of this Opinion Letter and now it is flying around at a rampant pace. So, what you should know is that your company can no longer permit you to utilize titles such as President, Vice President, Senior Vice President, Chairman, Vice Chairman, Managing Member, Director, Managing Director or anything else that is contained in the Business Corporation Law or Limited Liability Company Law as a term that implies authority. Instead, companies need to utilize titles without any correlated authority that does not exist.
Some articles flying around are:
The Real Deal - Brokers with false titles must now toe the line, regulators say
The Wall Street Journal - Titles Could Change for Some Real-Estate Brokers
Yet, there is no need to read the news, instead read the Opinion Letter for yourselves and understand why your companies are doing what they have to.
Friday, January 25, 2013
Does Lieb
School report my completed credits to the Department of State (DOS)? Am I responsible for sending my
course certificates to the DOS? Credits received from Lieb School count towards the 22.5
required from the DOS for license renewal. Certificates provided at
each class serve as proof of credit hours (think of them as a receipt). After
each class, Lieb School submits to the Department of State, Bureau of
Educational Standards, all licensee information for successful completion of
each course. Upon license renewal, the DOS will require the
original signed certificates if you are selected for an audit. Make sure that
you keep your certificates in a safe place. In the event of an audit, the DOS will
cross reference the certificates with the student completion records received
by each school. You are responsible for completing all 22.5 credits
by your license renewal deadline date.
How
do I renew my New York State Real Estate License? License renewals must be
completed online through the Department of State eACCESSny website. Please note
that the renewal process requires licensees to validate education completion by
answering “Yes” to the Continuing Education question that confirms all CE
requirements have been satisfied. If you mistakenly answer “No”, the DOS
will not renew your license until they see all original course completion
certificates. You also have to hold onto the original course completion
certificates in the event of a license audit by the DOS.
If I
did not complete my continuing education requirements before my license
expiration date can I get an extension? Please refer to §177.6 in
the Real Estate License Law. The Department of State will only
grant extensions in bona fide hardship cases. Prior to your license expiration:
you must submit to the Department of State, a written request for the
extension, completed renewal form, fee, and original documentation demonstrating
your hardship; i.e., medical documentation.
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more questions answered...
Who
regulates my New York State Real Estate License? Your license is regulated by the Department
of State, New York (DOS) and NOT by
any real estate school or trade organization.
What are the Continuing Education requirements for real estate agents in NY? Every 2 years, licensed real estate brokers and salespersons in the State of New York are required to take 22.5 continuing education credits. The ONLY mandatory class requirement is at least 3 hours of instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest of real property, within the 2 - year period immediately preceding a renewal.
Are
there any exemptions for Continuing Education requirements for real estate
agents in New York?
Licensed
real estate brokers who are engaged full time in the real estate business and
who have been licensed for at least 15 consecutive years immediately preceding
license renewal. This exemption must have been met prior to July 1, 2008.
An attorney admitted to the New York State bar is also exempt from the
Continuing Education Requirement.
Am I
required to take a course in Fair Housing if my real estate license is
grandfathered? A NYS
real estate agent does not need to take a course in Fair Housing if they are
generally exempt by way of the "grandfather" factor. Please
refer the agent to Real Property Law section 441(3)(a) where it expresses the
requirement for real estate agents to take 3 hours in a fair housing and/or
discrimination course within a license renewal cycle. The link for the license
law where this is discussed is as follows: http://www.dos.ny.gov/licensing/lawbooks/RE-Law.pdf.
While
reviewing the license law, please refer your attention to the last sentence of
this requirement wherein it states: "The provisions of this paragraph
shall not apply to any licensed real estate broker who is engaged full time in
the real estate business and who has been licensed under this article prior to
July 1, 2008 for at least 15 consecutive years immediately proceeding such
renewal". This is the "grandfather" factor.
In
general, the only exception to the "grandfather" factor exemption is
for NAR's mandatory quadrennial ethics requirement for members of the National Association of REALTORS®. This has nothing to do with
licensing or the Department of State, New York.
If I
already completed a continuing education class, can I take the same topic
again for credit with a different school in NY within the same license renewal
cycle? Real
estate continuing education courses are assigned independent approval codes by
the Bureau of Educational Standards, Department of State, State of New
York. Licensed real estate agents may take multiple courses in the same
topic within each "two year cycle of renewal" as long as each course
has an independent approval code. Approval codes are assigned for each approved
course, not school and not course topic. It is
advised that you always check your records of previously completed approval
codes prior to registration for new courses within your cycle of renewal.
If I
already received credit for taking a continuing education course, can I
get credit for taking the same exact course in a different license renewal
cycle? Yes.
While New York State Real Estate License Law, 19 NYCRR 177.18(c), states:
"No continuing education course will be considered for continuing
education credit more than once within the two year cycle of renewal",
there is no specific regulation precluding taking the same continuing education
course anew in a subsequent and different license renewal cycle.
Do I
have to take an Ethics course to renew my license? Ethics training is not a required
course for a Real Estate Broker or Salesperson to maintain their license in
full force and effect with the Department of State, New York. Ethics courses
may be required by your local Board (trade organization), but are not required
to maintain your license with the Department of State of New York.
Wednesday, January 09, 2013
Continuing Education Questions and Answers for Licensed Brokers and Salespersons in New York.
What are the Continuing
Education requirements for real estate agents in NY? Every 2
years, licensed real estate brokers and salespersons in the State of New York
are required to take 22.5 continuing education credits. The ONLY mandatory class
requirement is at least 3 hours of instruction pertaining to fair housing and/or discrimination in
the sale or rental of real property or an interest of real property, within the
2 - year period immediately preceding a renewal.
Are there any exemptions for Continuing Education
requirements for real estate agents in New York? Licensed real estate brokers who are engaged
full time in the real estate business and who have been licensed for at least
15 consecutive years immediately preceding license renewal. This exemption must
have been met prior to July 1, 2008. An
attorney admitted to the New York State bar is also exempt from the Continuing
Education Requirement.
Am I required to take a course in Fair Housing
if my real estate license is grandfathered? A NYS real estate
agent does not need to take a course in Fair Housing if they are generally
exempt by way of the "grandfather" factor. Please refer the
agent to Real Property Law section 441(3)(a) where it expresses the requirement
for real estate agents to take 3 hours in a fair housing and/or discrimination
course within a license renewal cycle. The link for the license law where this
is discussed is as follows: http://www.dos.ny.gov/licensing/lawbooks/RE-Law.pdf.
While reviewing the license law,
please refer your attention to the last sentence of this requirement wherein it
states: "The provisions of this paragraph shall not apply to any licensed
real estate broker who is engaged full time in the real estate business and who
has been licensed under this article prior to July 1, 2008 for at least 15
consecutive years immediately proceeding such renewal". This is the
"grandfather" factor.
In general, the only exception to the
"grandfather" factor exemption is for NAR's mandatory quadrennial
ethics requirement for members of the National
Association of REALTORS®. This has nothing to do with licensing or the
Department of State, New York.
If I already completed
a continuing education class, can I take the
same topic again for credit with a different school in NY within the same
license renewal cycle? Real estate continuing education courses are
assigned independent approval codes by the Bureau of Educational Standards,
Department of State, State of New York. Licensed
real estate agents may take multiple courses in the same topic within each
"two year cycle of renewal" as long as each course has an independent
approval code. Approval codes are assigned for each approved course, not school and not course topic. It is advised that you always check your
records of previously completed approval codes prior to registration for new
courses within your cycle of renewal.
If I already received
credit for taking a continuing education course, can I get
credit for taking the same exact course in a different license renewal cycle? Yes. While New York State Real Estate License Law, 19 NYCRR 177.18(c),
states: "No continuing education course will be considered for continuing
education credit more than once within the two year cycle of renewal", there
is no specific regulation precluding taking the same continuing education
course anew in a subsequent and different license renewal cycle.
