Broker Report
March 2021
News
Registration open for NYSAR Virtual Lobby Day
Join your fellow REALTORS® from across the state virtually to advocate for important NYSAR legislative priorities on Tuesday, April 27. The first 300 members that register will receive a Lobby Day package in the mail from NYSAR.
For more information and updates, including Lobby Day FAQ’s, visit the NYSAR Lobby Day page by clicking here.
NYSAR Safety Minute video
Each month, NYSAR will reveal a “Safety Minute” video featuring 2021 NYSAR President David Legaz. These informational videos are designed to inform and instruct REALTORS® how to practice real estate safely. To visit the new NYSAR Safety page, which features links, infographics and videos, including the March 2021 video, click here!
Across the Association
Learn about the upcoming opportunities to get involved in NYSAR in the latest Across the Association video. Watch now!
March/April edition of NYS REALTOR® magazine
Learn more about National Fair Housing Month, the 2021 NYSAR legislative agenda, new Member Perks and more in the March/April issue of New York State REALTOR® magazine. Click here!
Across the Association
Learn more about the 2021 NYSAR Virtual Mid-Winter Business Meetings, the NSYAR FREE Legal Update course, NYSAR’s newest Member Perk and more in the latest Across the Association video. Watch now!
NYSAR Awards nominations open
Nominations are now being accepted for the REALTOR® of the Year Award, Alan Yassky Distinguished Service Award and Community Service Award. The deadline to apply is June 25. For more information about the awards and the application process, click here!
Education
Apply NOW for a NYSREEF scholarship
Want to earn a national designation? A New York State Real Estate Education Foundation scholarship will pay for half of the tuition! Learn more and apply at NYSREEF.org. Deadline to apply is July 31, 2021.
FREE Member Fair Housing Classes Sign-Up NOW!!
NYSAR is launching a special series of FREE Fair Housing education courses designed for NYSAR members to celebrate Fair Housing Month. Each class is CE pending and will be held via Zoom. To learn more, click here!
Position yourself as a leader in green real estate
Take advantage of this opportunity NOW! Only offering once in 2021. Register now!
GREEN Day 1: Resource-Efficient Home: Retrofits, Remodels, Renovations, and New Home Construction
March 23 – 24, 2021 – 9 a.m. – 1 p.m. (each day)
GREEN Day 2: Representing Buyers and Sellers of Resource-Efficient Homes
March 30 – 31, 2021 – 9:00 am – 1:00 pm (each day)
NYS Real Estate License Law Changes Impact You
Any real estate licensee renewing their license on or after July 1, 2021 is required to have completed 22.5 hours of continuing education (CE) credit.
This requirement includes:
• 1 hour on agency
• 2.5 hours on ethical business practices
• 3 hours on fair housing law
• 1 hour on recent legal matters
And this applies to you – even if you were exempt from CE before.
You can satisfy your license renewal requirements by taking broker/manager-focused education from top-notch instructors. And you can do it all without leaving your home or office. All sessions are offered via live broadcast on Zoom.
MANAGING RISK WITH YOUR POLICY MANUAL* 3 hours CE credit: 1–4 pm NYSAR Member Price: $50 Offered on Wednesday, April 28.
FAIR HOUSING REALITY CHECK* 3 hours CE credit: 1–4 pm NYSAR Member Price: $50. Offered on Wednesday, May 26.
ETHICAL & AGENCY ISSUES* 3.5 hours CE credit: 1–4:30 pm NYSAR Member Price: $50. Offered on Thursday, April 8 and Wednesday, June 9.
*Taught by Roseann Farrow, REALTOR® Emeritus, ABR, CIPS, CRB, e-PRO, GREEN, GRI, RSPS, SRES.
MONTHLY LEGAL UPDATE 1 hour CE credit: 10–11 am FREE to NYSAR Members. Offered on Wednesday, April 14, Friday, May 14, Monday, June 28, Monday, July 26, Monday, August 16, Monday, September 13, Wednesday, October 20, Thursday, November 18, and Tuesday, December 14. This course is taught by a NYSAR Attorney.
Take all of these courses and earn 10.5 hours of CE credit. Then select from NYSAR’s prestigious designation courses to complete your 22.5 hours for license renewal.
Government Affairs
State Legislature proposes $8 billion in new taxes as State Budget negotiations begin
This week, the state Senate and Assembly adopted their respective one-house budget proposals, moving the process to the negotiations stage between the Legislature and Gov. Andrew Cuomo. An on-time budget must be passed before April 1. Both houses of the state legislature have proposed budgets that include roughly $8 billion in new and increased taxes on businesses and wealthy New Yorkers. Some of those proposals include permanent graduated increases in the personal income tax rates on the state’s highest earners, an additional 1 percent tax on capital gains for those earning more than $1 million, applying the mortgage recording tax to any mezzanine debt or preferred equity investments, and an increase in the estate tax. The Senate also included language in its budget to decouple from the federal opportunity zones program, which the Assembly did not include. Additionally, the proposed pied-a-terre property tax on second homes in New York City valued at over $5 million was included in the Assembly’s budget, however excluded in the Senate’s budget. Learn more.
DHR: “Notice Disclosing Tenant’s Rights to Reasonable Accommodations for Persons with Disabilities”
On March 5, 2021, the NYS Division of Human Rights published sample language that can be used to satisfy new notice requirements by housing providers of tenants’ rights to reasonable accommodations for persons with disabilities, which went into effect on March 2, 2021. The DHR has titled the sample language “Notice Disclosing Tenant’s Rights to Reasonable Accommodations for Persons with Disabilities.” Every housing provider covered under Human Rights Law § 296.2-b and § 296.18-a must make the required disclosure to all tenants and perspective tenants in writing within 30 days of the beginning of their tenancy, or 30 days from the effective date of this provision for current tenants. Landlords should consult with their attorney as to timing and method of compliance. NYSAR is seeking clarification from DHR and will be providing further updates as such information is made available. Licensees needing to comply with the law may use the sample language provided by DHR. There is no requirement that the notice be signed by the licensee, landlord or consumer. Find more information on the DHR website, click here.
NYSAR-supported coop transparency bill introduced in Assembly
Earlier this month, Assemblymember Charles Lavine (Chair of the Assembly Judiciary Committee) introduced NYSAR-supported legislation that would create the Fairness in Cooperative Homeownership Act (A.5856/S.2846). This bill would establish reasonable timelines for coop boards to respond to prospective home purchasers throughout the application and review process in order to combat illegal discrimination. NYSAR staff met with Assemblymember Lavine’s office to encourage the inclusion of this bill in an Assembly fair housing package should they take one up this year.
Hudson Gateway Association of Realtors® launches call for action in Westchester County
Hudson Gateway Association of Realtors® recently launched a call for action urging the Westchester County Legislature to pass a bill requiring co-op boards to provide a reason in writing for application denials. HGAR launched a similar call for action in 2018 resulting in Westchester County enacting a law stating that when there is a rejection of a prospective purchaser by a co-op board, a declination letter must be sent to the Westchester County Human Rights Commission. To view the call for action, click here. You must be a Westchester County resident to take action.
President Biden signs latest COVID relief package
On March 10, Congress passed a $1.9 trillion coronavirus relief package known as the “American Rescue Plan of 2021.” New York will receive $100 billion in federal funding, including $12.6 billion in direct unrestricted funding. President Joe Biden signed the bill on March 11, 2021. The package includes several provisions that impact the real estate industry, including rental assistance, small business loans, state and local funding, extended unemployment benefits, and new money for housing counseling and a housing assistance fund. Funds will be available for New York to assist landlord and tenant rent relief. The details of how those funds will be distributed are part of the ongoing NYS Budget negotiations. To read NAR’s comprehensive write-up of the package, click here.
MEMBER PERK
Broker Owners have access to every option of group health insurance plans with MyBenefitAdvisor
MyBenefitAdvisor is now offering every option of group health insurance plans ( PPO, EPO, & Consumer- Driven High Deductible) from 7 health insurance companies in New York State to NYSAR Broker Owners. To learn more about the health insurance plans, click here!
RPAC
RPAC of New York Presents… “School for Spies” Virtual Escape Room Event
Kick-off NYSAR’s 2021 Virtual Lobby Day festivities by joining an interactive Virtual Escape Room event to benefit RPAC! On Lobby Day Eve on Monday, April 26, participate in “School for Spies” Virtual Escape Room. Cost: $50 RPAC Investment.
Register for the event when registering for NYSAR Lobby Day by clicking here!
March RPAC auction item – Robotic Vacuum
Make Spring cleaning a breeze this year with the Yeedi WiFi Robotic Vacuum Cleaner. This item features a super large dustbin, 130 minute runtime, compatible with Alexa & Google Assistant. Perfect way to remotely clean up Pet Hair, Carpets, Wood Floors and more. Thank you to 2021 RPAC Trustees Chair, Jacqlene Rose from the Otsego-Delaware Board for donating this item. Bidding will end Wednesday, March 31 at 5 p.m. To bid, visit the RPAC of New York 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% 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.