NYS real estate license requirements now include agency-related coursework

Dec 27, 2016
A new law has taken effect that requires agency-related coursework to be included within a real estate licensees' 22.5 hours of continuing education. Licensees making their first renewal are required to complete two hours of agency-related coursework, while all other licensees are required to complete one hour of agency-related coursework. This change does not apply to those brokers that are exempt from continuing education requirements.
The law of agency is one of the most important duties for a real estate licensee. Many Department of State enforcement actions against licensees relate to violations of agency law. This new education requirement will help you serve your customers and clients better, and reduce your risk for prosecution by the DOS.
Specifically, the coursework will help improve your understanding of the relationships created between buyers/sellers, landlords/tenants and the real estate professional representing them during the real estate transaction. Understanding what fiduciary duties are owed, the proper use of the agency disclosure form, and the ability to properly represent clients in various forms of agency are critical for all individuals involved in the transaction.

Learn more here.
Featured Content

Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.