50% in 3 Months
According to the Board of Real Estate MeetingThere were 6,610 exam takers during the period
Lieb School - where the law is followed
Showing posts with label DOS. Show all posts
Showing posts with label DOS. Show all posts
Wednesday, January 15, 2020
There were 6,610 exam takers during the period
Lieb School - where the law is followed
Tuesday, January 14, 2020
248 in 3 months
According to the Board of Real Estate MeetingOf which DOS:
- 121 closed
- 2 withdrawan
- 2 duplicates
- 19 civil matter
- 9 resolved
- 8 no violation
- 24 no jurisdiction
- 11 insufficient evidence
- 43 were holds placed on licensee's record to address brefore renew
- 6 were referred to counsel for a hearing
Lieb School - where the law is followed
Thursday, October 05, 2017
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.
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.
Friday, September 15, 2017
On September 12, 2017 the Department of State (the “Department”) filed a Notice of Adoption to establish cease and desist zones for parts of Bronx and Queens Counties. The regulations relating to these zones will go into effect on October 1, 2017 and will expire on October 1, 2022.
After several public hearings and obtaining information from homeowners within the designated zones, the Department concluded that regulations were necessary to protect individuals unwanted, intense and repeated solicitations.
While the zones are in effect, it will be unlawful for any licensed real estate broker or salesperson, or any other person regularly engaged in the business of buying and selling property to solicit a homeowner within the zone that has filed a notice with the Department requesting not to receive such solicitations. A list of homeowners that have filed such statements will be available on the Department’s website for free, or available for purchase for $10.00. The Department expects the first list to be available beginning December 1, 2017.
Sending solicitations to a homeowner that has registered with the Department can result in monetary fines, suspension or revocation of licensure. If necessary, enforcement proceedings will commence after January 1, 2018.
The zones include the following parts of Bronx and Queens Counties:
Bronx County:
All the land west of the Eastchester Bay south of Griswold Avenue to Bruckner Expressway; thence southerly along the Bruckner Expressway/Throgs Neck Expressway to Layton Avenue; then easterly to the Eastchester Bay.
Queens County:
The sections of the area of land in the County of Queens, City of New York, within the neighborhood commonly referred to as College Point, and more specifically bounded by and described as follows:
Beginning at the intersection of interstate 678 and the East River; thence southerly along interstate 678 to the intersection of interstate 678 and 14th Avenue; thence westerly along 14th Avenue to College Point Boulevard; thence southerly along College Point Boulevard to 28th Avenue; thence westerly to Flushing Bay; thence northeasterly along Flushing Bay and the East River to the point of the beginning.
The sections of the area of land in the County of Queens, City of New York, within the neighborhoods commonly referred to as: Bay Side, Bay Terrace and Murray Hill, and more specifically bounded by and described as follows:
Beginning at the intersection of the Cross Island Parkway and 149th Street; thence southerly along 149th Street to 46th Avenue; thence easterly along 46th Avenue and continuing along Hollis Court Boulevard to interstate 495; thence easterly along interstate 495 to the Cross Island Parkway; thence northerly along the Cross Island Parkway to the point of the beginning.
If you have any questions regarding the cease and desist zones for Bronx or Queens Counties, you may email questions to the Department at: licensing@dos.ny.gov, or contact 518-474-4429. Call Center Representatives are available from 8:30am to 4:30pm Monday through Friday except on Legal Holidays.
Tuesday, January 31, 2017
The Real Estate License Law regulations at 19 NYCRR 175.1, 175.7, 176.3, 177.3, 177.7 & 175.25 have been amended.
The industry now has new understandings of escrow requirements, compensation, advertising, qualifying education and continuing education as of January 4, 2017.
Summary of New Understandings:
- 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.
The full amended regulations are as follows:
Section 175.1 of Title 19 NYCRR is
amended to read as follows:
Section
175.1. Commingling money of principal.
A real estate broker shall not commingle the money or other property of
his principal with his own and shall at all times maintain a separate, special
bank account to be used exclusively for the deposit of said monies and which
deposit shall be made [as promptly as practicable] within three business
days. Until such time as the
money is deposited into a separate, special bank account, it shall be
safeguarded in a secure location so as to prevent loss or misappropriation. Said monies shall not be placed in any
depository, fund or investment other than a federally insured bank
account. Accrued interest, if any, shall
not be retained by, or for the benefit of, the broker except to the extent that
it is applied to, and deducted from, earned commission, with the consent of all
parties.
Section
175.7 of Title 19 NYCRR is amended to read as follows:
Section 175.7. Compensation.
A real estate broker shall
make it clear for which party he is acting and he shall not receive
compensation from more than one party except with the full knowledge and
consent of [all parties] the broker’s client.
Section 176.3
(a) of Title 19 NYCRR is amended to read as follows:
Section 176.3. Subjects for study--real estate
salespersons.
(a)
The following are the required subjects to be included in the course of study
in real estate for licensure as a real estate salesperson, and the required
number of hours to be devoted to each subject:
Salesperson's
Course
Subject
Matter: Hours:
License
Law and Regulations ................................... 3
Law
of Agency ................................................. 11
Legal
Issues .................................................. 10
The
Contract of Sales and Leases .............................. 3
Real
Estate Finance ........................................... 5
Land
Use Regulations .......................................... 3
Construction
and Environmental Issues ......................... 5
Valuation
Process and Pricing Properties ...................... 3
Human
Rights and Fair Housing ................................. 4
Real
Estate Mathematics ....................................... 1
Municipal
Agencies ............................................ 2
Property
Insurance ........................................... [2] 1
License
Safety ........................................... 1
Taxes
and Assessments ......................................... 3
Condominiums
and Cooperatives ................................. 4
Commercial
and Investment Properties .......................... 10
Income
Tax Issues in Real Estate Transactions ................. 3
Mortgage
Brokerage ............................................ 1
Property
Management ........................................... 2
Instruction
................................................... 75
Final
Examination ............................................. 3
TOTAL
..................................................... 78
Section 177.3
(g) of Title 19 NYCRR is amended to read as follows:
(g) a detailed outline of the subject matter
of each course or seminar containing at least 22½ hours of instruction, or of
each course module containing at least [three hours] one hour of
instruction, together with the time sequence of each segment thereof, the
faculty for each segment, and teaching techniques used in each segment;
Section 177.7
of Title 19 NYCRR is amended to read as follows:
Section 177.7. Computation of instruction time.
To
meet the minimum statutory requirement, attendance shall be computed on the
basis of an hour equaling [60] 50 minutes.
Section 175.25
(d)(2) of Title 19 NYCRR is amended to read as follows:
Section 175.25. Business cards.
(2) Notwithstanding subdivision (c) of this section, business
cards must contain the business address of the licensee, license type,
and the name of the real estate broker or real estate brokerage with whom the
associate real estate broker or real estate salesperson is associated. All
business cards must also contain the office telephone number for the associate
real estate broker, real estate salesperson or team.
