NYS Division of Human Rights presented a great talk by Bryan Greene, General Deputy Assistant Secretary, Office of Fair Housing and Equal Opportunity at the US Department of Housing and Urban Development on 4/25 & 4/26 of this year concerning Emerging Fair Housing Issues.

To watch the video, click here.

Under the JOBS Act (Jumpstart Our Business Startups Act), crowdfunding is alive and will be available for equity investors in the coming months.

Crowdfunding is a means for start-ups to obtain capital without all of the SEC red-tape that typically accompanies offerings to accredited investors.

Under the JOBS Act, funds will be available through intermediaries operating funding portals. An intermediary for real estate professionals to keep their eyes on is PropertyPeers. Visit their site by clicking here.

To learn more about crowdfunding in the JOBS Act, click here.

Now start thinking about how you can raise capital to become the next real estate tycoon.

At Long Island Education Board we have always believed in Education and we offer many continuing education courses to help raise the knowledge base of our local agents. Yet, we can't do it all and we point agents who really want to differentiate themselves to NYU's Schack Institute of Real Estate. Currently, NYU offers an M.S. in Real Estate that educates "from initiating and analyzing to negotiating, financing, and closing the transaction". Take a look by clicking here and see if this Masters Degree is right for you.

We believe in Education and strongly recommend that agents take the initiative to become further educated in real estate.

Its often said that real estate agents are engaging in the unauthorized practice of law, but what about CPAs, Financial Planners, Property Managers and the like engaging in the unauthorized practice of real estate brokerage. Better yet, what is real estate brokerage in the first place?

Lets start with the Department of State's take on the matter. On their website, the Department of State has a FAQ section for Real Estate Salespersons that reads as follows:


If I am a real estate management company, do I need a real estate broker's license?
That depends on what services you provide. If you collect rent or place tenants in vacant spaces on behalf of your landlord client, the answer is yes. If, on the other hand, your services are strictly maintenance, the answer is no. you are not acting as a fiduciary (not handling another person's money).

So, does this provide the answer? Some may think yes, but when you dig a little deeper you should think about the words utilized in the answer as they actually present more questions than just simple answers. The key word that comes to attention is the term "tenants". After all what is a tenant and what isn't?


To illustrate with some questions:

• Is the NYC Park Commission granting a private corporation the right to operate an enterprise on a percentage rental basis for 20 years a tenancy? 
• What about a business broker affecting a lease of an operating hotel premises?
• How about renting a cooperative unit on an hourly basis?