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Showing posts with label NY Real Estate License. Show all posts
Showing posts with label NY Real Estate License. Show all posts

Monday, April 17, 2017

NY Department of State Update for License Renewal (Applications and Fees)

department of state , License Renewal
NY Department of State Update for License Renewal (Applications and Fees)
This is a direct note from the New York, Department of State.

This notification is to inform you of an increase in Real Estate original and renewal application fees, effective immediately.

The new application fees are as follows: Real Estate Broker Application $155, Real Estate Branch Office Application $155, Real Estate Salesperson Application $55.   

Please stop using the old applications immediately.  The new applications are available on the Department of State website, here are the links:

http://www.dos.ny.gov/forms/licensing/0036-f-a.pdf  (Broker Application)

http://www.dos.ny.gov/forms/licensing/0039-f-a.pdf (Branch Office Application)

http://www.dos.ny.gov/forms/licensing/0022-f-a.pdf  (Sales Application English)

http://www.dos.ny.gov/forms/licensing/0022-a-ES.pdf (Sales Application Spanish)

http://www.dos.ny.gov/forms/licensing/0022-a-HT.pdf  (Sales Application Haitian Creole)

http://www.dos.ny.gov/forms/licensing/0022-a-IT.pdf (Sales Application Italian)

http://www.dos.ny.gov/forms/licensing/0022-a-KO.pdf (Sales Application Korean)

http://www.dos.ny.gov/forms/licensing/0022-a-RU.pdf (Sales Application Russian)

http://www.dos.ny.gov/forms/licensing/0022-a-SC.pdf (Sales Application Chinese)

Also, as a result of an ongoing Real Estate Licensee Qualifying Audit, we are finding that many licensees are noncompliant. The majority of noncompliant licensees state they did not know, and were not told, that prior to applying for a license education, requirements include completion of the 75 hour course, passing the final school exam and receiving a certificate of completion.
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Tuesday, January 31, 2017

ALERT - Amended Real Estate Brokerage Regulations

department of state , DOS
ALERT - Amended Real Estate Brokerage Regulations
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.
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Friday, January 06, 2017

2016 SURVEY RESULTS ARE IN! Agency Disclosure ONLINE ranked BEST Real Estate CE

Agency Disclosure , Andrew Lieb
2016 SURVEY RESULTS ARE IN! Agency Disclosure ONLINE ranked BEST Real Estate CE


Nearly 100 NY Real Estate Agents concluded that Lieb School’s Agency Disclosure ONLINE CE course is the best real estate course on the market.

Surveys were conducted after each student completed the course. Below are some highlights: 
  • Best Instructor Ever.
  • Andrew is riveting and brilliant. A joy to watch and learn from.
  • Andrew can take a difficult to understand topic and make it easy to follow and comprehend.
  • Andrew Lieb is the only instructor that can keep me interested and awake when the content becomes boring. He is intelligent, well prepared, & entertaining. He is the only instructor for me.
  • I think Andrew Lieb is passionate and extremely knowledgeable. He makes an otherwise confusing subject easy to interpret and absorb!!!!
  • I loved the live interactions. Great sense of humor and outgoing personality made it interesting.
About The Course
  • THEEEEE BEST!!!!! Enough said. Period.
  • The best overall experience I've had. Thanks!
  • He breaks it into parts that makes so much sense, and keep you on your toes. No sleeping in this class@ :-) Even online, he makes it very interesting! 
  • I have had the opportunity to take this course in person and online and felt that this online format allowed me to better understand the subject. Particularly the section where you go through each possible way of filling out the form and what type of agency makes sense for what type of consumer. I feel more knowledgeable and confident with agency after completing this online course.
  • Was in the dark, now I see the light!!!!!!
  • This course exceeded my expectations and gave me a fresh perspective on the use of the Agency Disclosure form. I will be amending the way I present the form given the information I received and my improved understanding of the document.


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Monday, October 03, 2016

Continuing Education Requirements for New York Licensed Real Estate Brokers and Salespersons

Agency Disclosure , conflicts of interest
Continuing Education Requirements for New York Licensed Real Estate Brokers and Salespersons
New York Real Estate Salespersons and Brokers are regulated by the Department of State, New York (DOS) and are required to complete 22.5 Continuing Education credits within a 2 year license renewal period.  License renewal dates can be found on the New York State Real Estate License (look for license expiration date). 

 As of 01/01/2017, Licensed NY Real Estate Salespersons and Brokers must take the following Continuing Education courses in their renewal cycle:

  • 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
  • 2 Hours of Agency Disclosure for the initial two-year licensing term and at least 1 hour of Agency Disclosure in subsequent renewal cycles. 
If you are grandfathered in, the new continuing education requirements do not apply.  

  • Draw your attention to this paragraph "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 first, two thousand eight for at least fifteen consecutive years immediately preceding such renewal."

In addition to the New York State Continuing Education requirements, member's of the National Association of REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time within four-year cycles. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®. The current cycle will end Dec. 31, 2016. 

 Lieb School offers a license renewal package that satisfies ALL of the requirements above. 

Or you can purchase individual courses here:


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Friday, September 23, 2016

Lieb School Launches 22.5 CE License Renewal Course Package | Online Video Classes | $99.00

Agency Disclosure , Andrew Lieb
Lieb School Launches 22.5 CE License Renewal Course Package | Online Video Classes | $99.00

NY Real Estate Continuing Education 22.5 Credit 

License Renewal Course Package 

(click for online classes preview - turn sound on)
Anywhere and anytime you can finish all 22.5 hours of real estate continuing education as long as you have internet access. Lieb School’s online license renewal package includes video, audio and interactivity to get the job done without making you want to gouge your eyeballs out. Satisfies Department of State, New York Real Estate Continuing Education Requirements for License Renewal.

 Courses include:

  • Deal Killers (3 CE Credits)
  • Conflicts of Interest (3 CE Credits)
  • Agency Disclosure (8 CE Credits)
  • Divorce Deals (4.5 CE Credits)
  • Fair Housing Act (4 CE Credits)
The first course in this package is Deal Killers, where you will learn how to comprehensively negotiate a deal with substance and understand how to lock in your commission through creating a paper trail proving that you addressed substantially all of the essential terms of the transaction while negotiating the deal. Next, Conflicts of Interest will teach you the role of each player in a transaction and how to avoid an ethical claim that can otherwise ruin your career. Following, you will learn the whole enchilada about agency disclosure including an easy to follow 12 scenario explanation of which form to give and when. After you have mastered how to fill out the agency disclosure forms, Divorce Deals will show you how to navigate through all of the complexities of selling a marital residence and share with you interesting insights of what your clients are going through during their divorce process. Last but certainly not least, after completing the Fair Housing Act course, you will learn the nationwide standard for anti-discrimination laws in residential housing and how to perform your job while avoiding lawsuits, which New York State is actively pursuing against real estate brokers today.

 After trying Lieb School’s ONLINE classes, you will never want online education from any other provider. Lieb School’s leading distance education combines the latest interactive technology, license law education and continuing edutainment.

 Each course includes a video from a live classroom setting that was instructed by premiere lecturer Andrew Lieb, Esq. Content is thereafter broken down in order to simplify the learning experience so that students can absorb our field’s complex materials without being overwhelmed.

 *Prices Subject to change
** Must complete the courses 6 months from the date you registered

CLICK HERE TO REGISTER



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