Wednesday, May 16, 2018
Thursday, May 10, 2018
On 4-3-18 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 meeting was relatively brief, but did include some interesting comment, including:
- From January through March, there were 221 real estate complaints.
- New real estate brokerage course curriculum has been released to schools and is anticipated to be in place by 9-1-18. This curriculum includes 5 hours on office operations.
- Suggestions for changes to the industry included: (a) a requirement to place license numbers on marketing materials; (b) creating a system so that deceased broker's licenses are terminated and cannot be continued wrongfully by others; and (c) expanding eaccessNY to indicate when a salesperson / associate real estate broker / broker is inactive or suspended.
The next meeting was referenced to be June 1, 2018, but was not confirmed.
Thursday, May 03, 2018
We
never recommend a general form as each situation is unique and requires
specific information. However, sometimes in our Agency Disclosure classes we do reference the
Department of State's article called "Be Wary of Dual Agency".
Being a Dual Agent means your fiduciary duties are compromised on the individual level. Further, it's a direct deal where the seller/landlord & buyer/tenant both knowingly waive the conflict of interest permitting you to have compromised loyalties in neither negotiating on behalf of either party to a transaction.
A Dual Agent form should only be used when you represent both the seller/landlord & buyer/tenant. Additionally, no other agents are involved from your brokerage firm or another brokerage firm. You can use Dual Agent if you have a listing & you are acting as a selling agent by procuring a client to the listing.
We always recommend that large brokerage companies select Advanced Consent to Dual Agent with Designated Agent when clients are okay with it. You never know who will find a buyer for your listing or who will have a listing for your buyer.
Being a Dual Agent means your fiduciary duties are compromised on the individual level. Further, it's a direct deal where the seller/landlord & buyer/tenant both knowingly waive the conflict of interest permitting you to have compromised loyalties in neither negotiating on behalf of either party to a transaction.
A Dual Agent form should only be used when you represent both the seller/landlord & buyer/tenant. Additionally, no other agents are involved from your brokerage firm or another brokerage firm. You can use Dual Agent if you have a listing & you are acting as a selling agent by procuring a client to the listing.
We always recommend that large brokerage companies select Advanced Consent to Dual Agent with Designated Agent when clients are okay with it. You never know who will find a buyer for your listing or who will have a listing for your buyer.
Wednesday, May 02, 2018
The NY Department of State (DOS) is now ACTIVELY auditing real estate broker and salespersons websites for
compliance.
If you are NOT in compliance you are subject to:
You can also take advantage of our $99 special which includes 7 CE classes (including Deceptive & Misleading Advertising ONLINE).
If you are NOT in compliance you are subject to:
- Revocation
- Suspension
- $1,000 fine PER violation
- Censure
- Disgorgement of commission + interest
- You get charged with untrustworthiness & incompetency in the practice of real estate brokerage in the state of NY.
You can also take advantage of our $99 special which includes 7 CE classes (including Deceptive & Misleading Advertising ONLINE).
Tuesday, May 01, 2018
If you couldn’t make it to our in-person strategic negotiating CE class, no worries, we are currently cutting up the video and creating an online class version. Here’s a clip of what to expect. This real estate CE class will be available by the end of this year!
Andrew Lieb, Esq. announces exciting news about Lieb at Law, P.C.'s expansion including opening up a 40 seat compliance training center.
Monday, April 30, 2018
A licensee (salesperson or broker) can renew their license anytime within two years of the expiration date. Of course they cannot use the license once it is expired, but they do have two years to renew it before any penalties are imposed.
If the license is expired and has not been expired for over two years, they can renew the license online as long as there is a broker of record in place and they have completed the required continuing education. If they were terminated/cancelled by their previous broker, a broker must pick them up using the brokers eAccess account before they can submit an online renewal.
If the license has been expired for over two years, the record becomes null and void. At this point the licensee must retake and pass the NY licensing examination and can then reapply for a license. No continuing education is required to reapply as they are starting over. No qualifying education is required as long as they have a record in the Department of State system or can prove that they were previously issued a license.
Wednesday, April 25, 2018
As of April 12, 2018, companies in the State of New York are now exposed to liability for harassment of independent contractors in the workplace. The text of the new law can be found here. The New York State Human Rights Law previously only protected employees from sexual harassment. While the statute does not specify whether companies can be held liable for acts of their independent contractors who sexually harass other independent contractors, the statute does state that when determining whether a company is liable for the acts of the harasser, the “extent of the employer’s control and any other legal responsibility which the employer may have with respect to the conduct of the harasser” should be considered. This language appears to imply that companies such as real estate brokerages which subject independent contractors to substantial supervision (as required by 19 NYCRR §175.21(a) and Real Property Law §441(1)(d )), would be exposed to liability for all acts of harassment committed by their independent contractors. It is thus imperative that brokerage firms immediately implement sexual harassment policies and trainings for their independent contractors in addition to their employees to mitigate potential exposure.
Friday, April 20, 2018
Lieb at Law, P.C. is thrilled to announce Mordy Yankovich has joined the litigation team. Mordy's practice focuses on corporate, real estate and employment litigation and compliance. Mr. Yankovich represents companies in all aspects of litigation in federal and state courts and before administrative agencies. He prides himself on advocating zealously for his clients while providing constructive and honest counsel to achieve the best possible result.
In addition to litigating matters, Mr. Yankovich advises clients on compliance with federal, state and local laws and conducts trainings for employers, including anti-discrimination and anti-harassment trainings, to minimize clients’ potential exposure. Prior to working at Lieb at Law, P.C., Mr. Yankovich was a litigation associate with Jackson Lewis, P.C., a national law firm focusing on labor and employment law.
Mr. Yankovich is admitted to practice law in New York and New Jersey state courts, the U.S. District Court for the Eastern and Southern Districts of New York and the U.S. District Court of New Jersey. He received his law degree from Hofstra University School of Law where he was an articles editor of the Labor and Employment Law Journal and a member of the Dean’s List. Prior to law school, Mr. Yankovich graduated from Boston University with a B.S. in Public Relations and a minor in Economics.
When not advocating on behalf of his clients, Mr. Yankovich enjoys playing golf and tennis, creative writing, following the stock market, and spending quality time with his wife and 2 children.
In addition to litigating matters, Mr. Yankovich advises clients on compliance with federal, state and local laws and conducts trainings for employers, including anti-discrimination and anti-harassment trainings, to minimize clients’ potential exposure. Prior to working at Lieb at Law, P.C., Mr. Yankovich was a litigation associate with Jackson Lewis, P.C., a national law firm focusing on labor and employment law.
Mr. Yankovich is admitted to practice law in New York and New Jersey state courts, the U.S. District Court for the Eastern and Southern Districts of New York and the U.S. District Court of New Jersey. He received his law degree from Hofstra University School of Law where he was an articles editor of the Labor and Employment Law Journal and a member of the Dean’s List. Prior to law school, Mr. Yankovich graduated from Boston University with a B.S. in Public Relations and a minor in Economics.
When not advocating on behalf of his clients, Mr. Yankovich enjoys playing golf and tennis, creative writing, following the stock market, and spending quality time with his wife and 2 children.
