Broker Report
May 2023
News
Cold Calling Still Prohibited in New York
Real estate licensees may not make any unsolicited phone calls to a member of the public during a State of Emergency. General Business Law §399-z(5)(a) states, “It shall be unlawful for any telemarketer doing business in this state to knowingly make an unsolicited telemarketing sales call to any person in a county, city, town or village under a declared state of emergency or disaster emergency as described in sections twenty-four or twenty-eight of the executive law.” All other types of marketing such as mailers, billboards, social media, internet etc., are permitted. You may call a FSBO if you have an identifiable purchaser interested in the property. You are prohibited from calling the FSBO to solicit the listing. You may still perform business to business calls so long as you are calling the number provided as the business number. NYSAR is monitoring all of the current Executive Orders declaring a State of Emergency. To view the States of Emergency that are still in effect, click here.
NYS April 2023 Housing Market Report
“With interest rates continuing to be in flux and inventory of homes reaching record lows, closed sales across New York continue to fall.” To read the full April 2023 NYS Housing Market Report, click here.
Across the Association
In this edition of Across the Association, find out how Lobby Day 2023 went as we with talk with NYSAR members who were in the thick of the action. Watch now!
Diversity, Equity, & Inclusion (DEI) Summit
A two-day Diversity, Equity, & Inclusion (DEI) Summit, co-hosted by seven REALTOR® associations, including NYSAR, will be held June 5-6 at the Sleepy Hollow Hotel & Conference Center. Explore your understanding of DEI within your personal and professional career, review the correlation between fair housing and DEI, how DEI makes business sense, and the implicit biases that continue to plague the real estate industry. Register and learn more by clicking here!
NYSAR Legal Lines
Appellate Court Overturns Broker Victory in Lawsuit for Commission Due to Protection Period Not Being Applicable
In a recent court decision, a higher court overturned a broker’s prior court victory, entitling him to commission for negotiating leases for a landlord’s property. To read the NYSAR Legal Lines, click here!
Registration open for NAR NXT
Share your expertise, harness your potential and step into the spotlight at NAR NXT, The REALTOR® Experience, Nov. 14-16 in Southern California. Attendees, including real estate agents, brokers, real estate technology companies, and more, exchange ideas and experiment with cutting edge innovation at the industry’s largest real estate expo. For more information and to register, click here!
NYSAR awards program nominations open
Nominations for four NYSAR awards are being accepted until July 28, 2023.
Alan Yassky Distinguished Service Award:NYSAR will recognize up to two individuals who have made significant industry contributions.
2023 REALTORS® Honor Society
Recognizes board/association members for their REALTOR® association involvement during 2022.
Community Service Award
Recognizes up to three individuals who are involved in an endeavor in their community.
REALTOR® of the Year
Honors someone who is involved in activities at all levels of the association.
Learn more about any of the above awards.
Education
Upcoming Zoom Education Classes
Just as the weather is heating up so is the schedule of programming offered by NYSAR’s Education Department for the remainder this month and June.
On May 22-25, NYSAR hosts the 12-credit e-PRO Certification course with Randy Templeman. Focusing on the latest in real estate marketing, this course will teach you how to manage your time effectively by demonstrating ways to connect with consumers, market property online using social media and mobile apps while protecting your client data throughout the transaction process. Help all buyers achieve their dream of home ownership by incorporating inclusion and equality into your daily business practices.
Instructor Linda Lugo will teach you how to work effectively with diverse populations to avoid fair housing complaints on June 5-6 during the At Home With Diversity class. The course offers 6 CE hours including 3 in Fair Housing and 2 in Cultural Competency.
We will offer the NEW Home Finance Resource (HFR) certification course for the first time on June 12-13. Taught by Mike Smith, the 6 CE hour course is designed to provide you with the foundational education to enable you to explain key pieces of the loan origination process to buyers needing guidance on navigating mortgage and alternative financing options.
Top producing agent and instructor Jerry Cibulski will lead the Resort and Second Home Property Specialist certification class on June 14-15. Whether it be buying, selling or managing a resort property or second home for recreation, investment or development, learn the ins and outs at this 7.5 credit class.
We wrap up our month with the Military Relocation Professional (MRP) certification on June 28-29. Randy Templeman will lead you through the essentials on how to assist current military service members and veterans find housing solutions that best suit their needs including how to make the best use of their available benefits. Explore VA financing including who is eligible, what properties and transactions qualify, which lenders to contact, up-to-date loan limits and regulations and the process for a VA compromise (short) sale.
GRI courses offering 7.5 CE credits in May and June include GRI-4 Legal with Don Cummins, Esq. on May 25-26. Gain a complete understanding of how to operate your business without the risk of claims, fines and lawsuits. Advertising, contracts, deposits, disclosures, title insurance and settlement procedures will be reviewed. This course satisfies the 1-hour requirement in Recent Legal Matters for NYS license renewal.
Take your business to the next level and gain market share with GRI-2: Business on June 1-2 with instructor, Linda D’Amico. Learn the basics to build on: how to create an effective business plan; building support structures using assistants and teams; prospecting successfully and tapping into niche markets; and developing policies to avoid risk. On June 7-8, Randy Templeman will demonstrate how automated hardware, software and Apps can save you time and resources during GRI-8: Technology. Use the most current transaction tools, e-marketing and social media platforms to go mobile and paperless and streamline your business. Put the Code of Ethics to work for you, maximize your REALTOR® benefits and enhance your professionalism with GRI-1 Ethics with Lin Fields on June 21-22. This class satisfies NAR’s mandatory 3-year ethics training requirement and the NYS 2.5 ethics CE requirement. Demonstrate your value to buyers from listing to closing with GRI-5 Buyers on June 26-27. Instructor Katheryn DeClerck will teach you strategies to secure more buyer clients, show you how to lead clients through the entire home buying process and assure compliance with Fair Housing and Agency Representation laws. This class fulfills NYS Fair Housing and Agency CE requirements.
Short on Time and CE Credits?
We have several 2 and 3 credit hour courses coming up in NYS DOS required fields of credit, including Celebrate Diversity! with instructor Roseann Farrow, May 26 from 2 pm – 4 pm. Obtain 2 required credits in Cultural Competency while examining your cultural knowledge, attitudes, and behavior.
On June 9, 1 pm – 4 pm, we will offer a 3-credit class, Create and Maintain a WIN-WIN Relationship with Sellers. From prospecting for the listing to preparing and presenting a customized marketing plan, let Roseann Farrow show you how to ease clients’ apprehensions and help sellers achieve their transaction goals.
June 27, from 2 pm – 4 pm, join Linda Lugo for Cultural Competency and Literacy in Real Estate. Earn 2 credits in Cultural Competency and gain an understanding of different cultures to better assist consumers while staying within Fair housing guidelines. Explore cultural differences and cross-cultural business skills, examine how different cultures negotiate and make decisions. Learn about real estate practices around the world and how religion may influence personal lives and business habits.
NYSREEF May auction item
Join the world of Pickleball! Gather the whole family and enjoy this month’s NYSREEF Auction item -the SGSPORT Portable Pickleball Net Set with 4 Pickleball Paddles, Official Size Pickleball Net, 4 Outdoor Pickleballs and Carry Bag, Weather Resistance Strong Steel Frame. Bidding ends on May 31 at 5:00 p.m. Post your bid on the NYSREEF Facebook page.
NYSREEF Scholarship Update
Since 2004, the New York State Real Estate Education Foundation (NYSREEF) has awarded more than $441,213 in tuition scholarships for national REALTOR® designation courses. These courses help to provide participants with the latest industry-based information helping in the growth of their business and careers. The deadline for the next round of scholarships is July 31, 2023. Application information is available online.
Government Affairs
Record attendance at NYSAR 2023 Lobby Day
A record number of REALTORS® attended this year’s NYSAR Lobby Day in Albany on May 2. Over 400 REALTORS® traveled to the state Capitol to advocate on multiple housing-related issues. Those issues included addressing the state’s housing inventory and affordability challenges, opposition to “good cause” eviction, and support for legislation, including creating a first-time homebuyer savings account, increasing experience required for a broker’s license, additional fair housing measures in coops, and a technical amendment to the state’s telemarketing restrictions during states of emergency. NYSAR 2023 President John Vernazza and State Senator John Mannion (Central NY) provided opening remarks, and NYSAR Director of Government Affairs Mike Kelly provided a legislative overview of issues and Talking Points. Thank you to all who participated in another successful day of advocacy.
State lawmakers introduce first-time homebuyer savings account bill following NYSAR Lobby Day
Following NYSAR and REALTOR® Lobby Day advocacy efforts, legislation that would create a NYS first-time homebuyer savings account program (A.6933/S.6574) was introduced in the Assembly by Assemblymember Phil Ramos (Suffolk). The bill would allow individuals and families to take a state income tax deduction on annual deposits into the account (up to $5,000 for individuals and $10,000 for couples). Senator Jeremy Cooney (Rochester) carries the bill in the Senate. Support for this bill was one of NYSAR’s legislative priorities during its 2023 REALTOR® Lobby Day in Albany.
FHFA rescinds upfront fees based on DTI ratio
On May 10, following concerns expressed from NAR and other industry organizations, the FHFA announced that it has rescinded its proposed loan level pricing adjustment (LLPA) upfront fees based on borrowers’ DTI ratios greater than 40% for loans acquired by Fannie Mae and Freddie Mac. Additionally, the FHFA announced that it will schedule a Request for Input on another controversial proposed fee change which would increase fees on borrowers with credit scores over 680 and down payments from 5% to 24%. To read NAR’s full statement, click here.
Final State Budget summary
On May 2, state lawmakers approved a $229 billion state budget, nearly a month after the April 1 deadline. The final budget excluded any significant housing policy, including “good cause” eviction, raising the possibility that the issue of housing and tenant protections could be taken back up before the Legislature adjourns in June. The final budget includes a new mandate on all new construction to be all-electric beginning December 31, 2025 for buildings 7 stories or less, and larger buildings by December 31, 2028. Other major items in this year’s budget include modifications to the state’s bail reform laws to allow judges more discretion to set bail in violent cases, an increase in the state’s minimum wage to $17/hr. downstate and $16/hr. upstate by 2026 and then annually indexed to inflation, a new lead paint certification process for rentals outside of NYC, and allowing the revival of 14 charter schools in NYC. NYSAR will be monitoring expected regulatory proposals to implement the new electrification and lead certification laws and will be providing our perspective during any public comment periods. For a summary of this year’s state budget, click here.
Summaries of new climate-related laws in NYC
Following passage of NYC Local Law 154 of 2021, the construction of certain new buildings in NYC will not be allowed to utilize fossil fuel burning systems. The requirements will be phased in starting with lower rise (less than 7 stories) buildings in 2024 and taller (7 stories and up) buildings in 2027. Additionally, following passage of NYC Local Law 97 of 2019, most buildings in NYC over 25,000 square feet will be required to meet new energy efficiency and greenhouse gas emissions limits by 2024, with stricter limits coming into effect in 2030. The buildings covered by Local Law 97 will be required to file a report with DOB by May 1, 2025 detailing their annual greenhouse gas emissions. NYC Council Member Vicky Paladino is urging support for a bipartisan bill in the NYC Council (Int. 913) that would delay implementation of Local Law 97.
Click here for a detailed summary of Local Law 154.
Click here for a detailed summary of Local Law 97.
MEMBER PERK
NYSAR and UPS took the guesswork out, and put the easy in
Save 50% on Domestic Next Day/Deferred, 30% on Ground Commercial / Residential and up to 50% on additional services with UPS. In addition, NYSAR members can take advantage of UPS Smart Pickup® service for free. Learn more!
RPAC
NYSAR Members inducted into the NAR RPAC Hall of Fame
Congratulations to the following distinguished NYSAR members on their induction into the NAR RPAC Hall of Fame as part of the NAR Legislative Meetings in Washington, DC this past week. Thank you all for your generous RPAC support and leadership!
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New RPAC Merch Available!
RPAC Power Bank – Powered by RPAC
This portable charger will keep your devices charged so you’re ready to tackle your busy day.
Cost: $30 RPAC Investment
To order, click here!
May Auction Item – Yeti Cooler
Summer is just around the corner and this Yeti Cooler in Charcoal would be your perfect companion for a BBQ, sporting event, concert or just an afternoon of day drinking. The Yeti Roadie 24 is 20% lighter than previous models but don’t let that fool you, it’s still a superstar in the world of coolers. Taller than before, this model will hold a standard bottle of wine and much more! It measures 18 ½ “ L x 14 ½ W” x 17 ½”H. Bidding will end on Wednesday, May 31 at 5 p.m. To bid, visit the RPAC of NY Facebook page.
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.