Broker Report

Update on the use of corporate titles
Recently, the New York State Department of State, Division of Licensing Services has indicated it would be auditing licenses and the use of corporate titles. On April 26, 2013, the DOS issued an opinion on the use of corporate titles by associate brokers and/or salespersons who are not licensed as a real estate broker. Many brokers and their associated licensees were not happy with the DOS opinion, so a follow up request was made to consider other alternatives.  The DOS responded with an opinion directly in line with the first opinion and further clarifying the restrictions on corporate titles. As both opinions state, no licensee other than an individual licensed as a real estate broker may use a corporate title in any manner. NYSAR also published an article specifically addressing corporate titles in a team setting.  A copy of the article can be found here.

Monthly housing market memo now available 
Each month NYSAR President CJ DelVecchio issues a housing market memo with talking points and statistical information that real estate brokers can use when discussing the market with their agents, clients and the media. The monthly memo, which is now available by clicking here, covers first quarter and March 2018 statewide housing sales and median selling price, as well as new listings, pending sales, days on market, average sales price, percentage of list price received, housing affordability, inventory of homes for sale, and months’ supply of inventory.  Additionally, a localized monthly report has been provided to your local board/association.

Please Note: NYSAR will issue its monthly housing market press release on Monday, April 23, at 10 a.m. This report is embargoed until that time.

If you have any problems accessing the report, please contact the NYSAR Communications Department.

Warning: Possible phishing attempt and spam email alert
If you receive an email claiming to be from "REALTOR Party via DocuSign," it is not from the National Association of REALTORS. The email contains an attachment. Do not open any attachments or click any of the links, which may ask for passwords. NAR will never ask you for your DocuSign credentials. Additionally, members should be aware of a suspicious email being deployed with the subject line: "ANNUAL REPORT TO ALL MEMBERS OF NATIONAL ASSOCIATION OF REALTOR (NAR)" from the email address Please note that official NAR emails will come from a or email address and include proper branding, messaging, contact information and opt-out provisions. Learn more

NYSAR continues to protect its members from potential legal issues

NYSAR is pleased to report that the New York State Court of Appeals recently published its decision in the Congel v Malfitano matter supported in part by NYSAR’s Legal Action Fund. The case involved a partnership that was dissolved by a minority partner contrary to what was contained in the fully executed partnership agreement. NYSAR joined a number of real estate related entities supporting the legal theory that the procedures and terms of dissolution set forth in the partnership agreement should have been followed. Fortunately, the court decided the matter consistent with the position of NYSAR and the other entities. This was an extremely important issue that would have negatively impacted those NYSAR brokerages that were formed as partnerships and rely on the partnership agreement to be the controlling document when it is time for dissolution. A copy of the decision can be found here.

Free NYSAR Tech Hotline coming soon!
NYSAR's free Tech Hotline will be launching this summer, and will feature on-call experts available five days a week to assist you with your technology-related issues. Watch your mail in the coming months for more information.  

Make your voice heard – sign up for the Broker Involvement Program
The Broker Involvement Program provides you, the broker, with a quick and effective tool to rally your agents and send a clear united voice to our state and federal leaders on critical legislative and regulatory issues affecting our industry. Quickly enroll here, and read more information from the Broker Involvement Program brochure.

Receive your Calls for Action via text message!
Text the word “NYREALTOR” to 30644 to sign up for REALTOR Party text message alerts. It takes less than a minute, and will only notify you a few times a year when there is an important REALTOR issue to take action on. 

NYSAR meets with Assembly housing chair on coop transparency bill
NYSAR staff met with Assemblyman Steven Cymbrowitz (D-Brooklyn), chair of the Committee on Housing, and Assembly counsel staff to discuss the advancement of cooperative transparency legislation (A.10084/S.7523). The bill would improve transparency by establishing a clear timeline for the receipt, acknowledgement, completion and acceptance/denial of a cooperative purchase application. These efforts on the state-level are in conjunction with similar efforts to introduce and advance legislation before the New York City Council. NYSAR will continue to update members on any progress.

NY enacts $168 billion budget, rejects real estate transfer tax increases
Gov. Andrew Cuomo and the state Legislature finalized a $168.3 billion on-time state budget on March 31. The budget closes a $4.5 billion deficit and excludes roughly $1 billion in new taxes and fees proposed by the governor and state Assembly. NYSAR was pleased to see the exclusion of two real estate transfer tax increases from the final budget, which were originally proposed in the Assembly one-house budget. The final budget includes provisions to decouple state tax law from federal revenue code, create a new optional payroll tax program that employers would enroll into, and allow for the creation of tax deductible state and local charitable contribution funds, which has municipalities looking for IRS guidance and questioning how to implement such funds. The Business Council also has a budget summary here.

Residential fire sprinkler push after Trump Tower fire
The New York City Council Housing and Buildings Committee Chair Robert Cornegy announced that he will introduce a bill to require the installation of residential fire sprinklers at all residential buildings with four or more apartments. The New York State Association of Fire Chiefs also announced it will increase its efforts to support local and state regulations to require all new homes to include fire sprinkler systems. The State Code Council excluded a requirement that would have mandated the installation of fire sprinkler systems in all new one and two-family homes in 2015.

Vote Tuesday, April 24, if you are in a special election district
Two State Senate seats and nine state Assembly seats will be filled by upcoming special elections on Tuesday, April 24. There is a heightened focus on the state Senate races after the recent move by the Independent Democratic Conference to join the mainline Democrats, which could impact what party controls the Senate in the coming months. The Assembly Districts with a special election are the: 5th, 10th, 17th, 39th, 74th, 80th, 102nd, 107th, and 142nd Assembly districts. The Senate Districts with a special election are the 32nd and 37th Senate Districts. Read more on the races here. Check if you can vote in one of the special elections here.

Report finds rising costs for rent-stabilized landlords as housing advocates push for rent freeze
The Price Index of Operating Costs report is one of several surveys the Rent Guidelines Board takes into account before its final vote in June on whether to allow landlords of rent-stabilized housing to increase rent. According to the report, fuel costs and real estate taxes saw the largest increases. The board will discuss the findings of the price index and hear testimony from apartment owners and tenants in advance of its preliminary vote on April 26. Read the full report here. A final vote is expected in June.

NYSAR member named one of NAR’s 30 Under 30 class of 2018 
Congratulations to Charles “Chip” Murphy, Hunt Real Estate, Rochester, NY for being named one of the National Association of REALTORS’ 30 Under 30 Class of 2018. He collected the most votes during the online voting period, guaranteeing him a spot in this year’s class. According to the award criteria, he illustrates the most stellar traits in customer service, community involvement, and business acumen. Congratulations Chip! Learn more

REALTOR of the Year and Community Service Award nominations due by June 15
NYSAR is seeking nominations for the 2018 REALTOR of the Year Award. The award, which recognizes the outstanding personal leadership skills, and the industry and civic commitment of one NYSAR member, will be presented during the NYSAR Fall Business Meetings. In addition, NYSAR will recognize up to three REALTORS for their activities supporting their community with the Community Service Award. The deadline to nominate is June 15. Click here for the ROTY nomination form. Click here for the Community Service Award nomination form.  

Good Neighbor Awards deadline is May 4
The National Association of REALTORS’ REALTOR Magazine is seeking nominations for the 2018 Good Neighbor Awards. The program recognizes REALTORS whose extraordinary commitment to community service has helped make their communities better places to live. Entries must be received by Friday, May 4. Learn more.

Register today for the Office Depot Discount Program webinar on May 15
Join NYSAR for a free webinar at 2:30 p.m. on Tuesday, May 15, to learn about the advantages of buying your office supplies through Member Perk partner Office Depot/OfficeMax. When you use this exclusive member discount, you can save up to 80 percent on thousands of items. Most orders of $50 or more are eligible for free delivery to your home or office. Register today!

The digital version of New York State REALTOR magazine is now available
Your digital edition of the March/April 2018 New York State REALTOR magazine is available now. In this issue, New York State REALTOR magazine celebrates the 50th anniversary of the Fair Housing Act with: perspectives on the Fair Housing Act from NAR fair housing partners; fair housing FAQs; how personal letters from buyers can lead to fair housing implications; and more. Read the issue now.

Bid on the April RPAC auction item – Michael Kors bag
Bidding will end at the close of business on Monday, April 30. To place a bid, call Derick King at 518-463-0300 x238, email or join the RPAC Facebook group.

Contributions are not deductible for income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. You may contribute more or less than the suggested amount. You may refuse to contribute without reprisal and the National Association of REALTORS, the New York State Association of REALTORS or any of its local boards or associations will not favor or disfavor any member because of the amount contributed. 70 percent of each contribution is used by your state PAC to support state and local political candidates. Until your NYSAR PAC reaches its PAC goal 30 percent is sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a; after NYSAR PAC reaches its RPAC goal it may elect to retain your entire contribution for use in supporting state and local candidates.

Featured Content

The March/April digital edition of New York State REALTOR is now available!

New York State REALTOR magazine celebrates the 50th anniversary of the Fair Housing Act with: perspectives on the Fair Housing Act from NAR fair housing partners; fair housing FAQs; how personal letters from buyers can lead to fair housing implications; and more. Read the latest issue.
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