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Broker Report

October 2019

NEWS

Multiple Listing and Emerging Issues advisory board proposes MLS policy to fuel broker cooperation
The National Association of REALTORS is considering a change in the association’s MLS policy aimed at creating greater cooperation between brokerages within MLSs. The “Clear Cooperation Policy“ proposal is straightforward: brokers who are MLS participants must share listings with other brokers in the MLS if those listings are being publicly marketed. NAR is seeking member feedback on the policy before the association’s Multiple Listing Issues and Policies Committee addresses it at the REALTORS Conference & Expo in San Francisco at their meeting on Saturday, November 9 from 9 a.m.-12 p.m. in the Moscone West, Room 2014, Level 2. To submit questions and concerns about the Clear Cooperation Policy to NAR, click here.

UPCOMING EVENTS

Register for Triple Play REALTOR® Convention & Trade Expo
Every December for nearly 20 years, thousands of REALTORS®, brokers, appraisers, and other real estate professionals head to Atlantic City for the largest real estate convention and trade show of its kind in the U.S. Triple Play REALTOR® Convention & Trade Expo, which will be held December 9-12 in Atlantic City, boasts four days of education with the opportunity to earn FREE CE credit, an expansive two-day Trade Expo with more than 325 vendors, nightly social events and, so much more! Register online by October 15 for early-bird pricing of just $89 – a $50 savings compared to registering onsite.

GOVERNMENT AFFAIRS

Federal judge dismisses NY lawsuit challenging SALT cap
A federal judge dismissed a lawsuit filed by New York and three other states on Oct. 14, which argued that the $10,000 cap on state and local tax (SALT) deductions was unconstitutional. Gov. Andrew Cuomo stated that New York would consider an appeal. Learn more.
 
NAR spotlights guidance on flood insurance and disclosures
Flood-related disclosures can generate legal and ethical questions. REALTORS are also reminded that flooding is a material fact to a real estate transaction, and failure to disclose flood damage can result in liability. NAR Associate Counsel Deanne Rymarowicz answers these questions and more in this month’s Window to the Law video. NAR’s state by state flood disclosure survey can be found here.
 
DOS proposes updated rule for advertisements not listed with a broker
The Department of State published an updated rule regarding advertisements not listed with a broker. The proposed rule clarifies the requirements around the use of third-party advertising by a broker, including when such advertisement references property subject to an exclusive listing agreement with another broker. The rule is subject to a 60-day comment period. The final adopted rule will not be published until January or February of 2020 and will take effect 180 days after final publication. You may view the text of the rule here. REALTORS® may comment on the proposed rule by contacting the Department of State at david.mossberg@dos.ny.gov.

RPAC

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October RPAC auction item – Two Nights at Lake Placid's Mirror Lake Inn
Enjoy a two-night stay at Lake Placid's Mirror Lake Inn. Includes lodging, tax, gratuities, and breakfast for two each morning. Bidding ends October 30. To bid, visit the RPAC of New York Facebook group or contact Derick King at (518) 463-0300 ext. 238 or by email at dking@nysar.com. 

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% 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% 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. 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% 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% 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 September/October Digital edition of New York State REALTOR is now available!

Find out what local boards are doing to protect their members in our REALTOR Safety Month feature, get a little more clarity on the Housing Stability and Tenant Protection Act of 2019, check out the exciting fundraisers that local RPAC's did this summer and much more in the September/October issue of New York State REALTOR magazine. Read the latest issue.
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