Broker Report
June 2025
NAR Settlement Updates
NYSAR’s dedicated NAR lawsuit settlement webpage has all of the resources your members need, including FAQ’s for New York REALTORS® and more.
Model statewide forms and tutorial videos available
NYSAR has updated model statewide forms and instructional videos available for your members.
NEW NAR Consumer Guide: Working with a Real Estate Attorney
The latest NAR consumer guide focuses on Working with a Real Estate Attorney. This guide explains how real estate attorneys can assist throughout the homebuying process, including reviewing contracts, resolving title issues, and ensuring legal documents are properly completed.
News
Nominate a Member for a NYSAR Award
NYSAR is currently accepting nominations for the REALTOR® of the Year, Community Service and Alan Yassky Distinguished Service awards.
The REALTOR® of the Year Award is the highest honor the New York State Association of REALTORS® bestows on a member.
The Alan Yassky Distinguished Service Award recognizes an individual’s participation in local activities, state association, NAR, civic organizations, and individual accomplishments.
The Community Service Award seeks to honor up to three members who are actively involved in charitable organizations or causes in their local or state communities.
May New York State Market Report
Despite housing inventory across New York rising for the third consecutive month, home sales fell over 10 percent in May.
Beyond the License: How to Articulate Your Value as a Real Estate Broker
“Many agents underestimate the role of their broker. Here’s how to clearly communicate your impact—from risk management to reputation building—to help agents understand why your role is crucial to their success.”
Did you miss the NAR Legislative Meetings? Find out what happened!
If you missed the REALTORS® Legislative Meetings, the latest episode of the Advocacy Scoop Podcast shares key takeaways on tax reform wins, NAR’s 2025 priorities and national polling insights. Plus, get expert analysis from NAR tax specialists on how the new legislation could impact your business.
FREE Realtor.com Webinar: “Consultative Selling in a Competitive Market”
Join the FREE Realtor.com webinar on Tuesday, July 1 at 1 p.m. to explore the powerful approach of consultative selling, where building trust and creating value take center stage.
(Multiple sessions will be offered – click the link below to view all dates.)
Education
Understanding Co-Ops
June 26, 2025 | 9 a.m. to 12:30 p.m.
CE Hours: 3.5
Member Price: $30
Instructor: Barry Kramer
GRI-4: Legal (Graduate, REALTOR® Institute Designation Class*)
July 9-10, 2025 | 9 a.m. to 1 p.m.
CE Hours: 7.5, 1 in Recent Legal Matters
Member Price: $125
Instructor: Neil B. Garfinkel, Esq.
SRS: Seller Representative Specialist Designation
July 14-17, 2025 | 9 a.m. to 1 p.m.
CE Hours: 15; 2 in Agency
Member Price: $295
Instructor: Nancy Mosca
GRI-6: Sellers
July 21-22, 2025 | 9 a.m. to 1 p.m.
CE Hours: 7.5; 2 in Agency
Member Price: $125
Instructor: Jeffrey Decatur
SFR®: Short Sales and Foreclosure Resource (Certification Class)
July 23-24, 2025 | 9 a.m. to 1 p.m.
CE Hours: 6.5
Member Price: $125
Instructor: Randy Templeman
SRES: Seniors Real Estate Specialist Designation
July 28-31, 2025 | 9 a.m. to 1 p.m.
CE Hours: 12
Member Price: $295
Instructor: Nancy Mosca
*New professionals, licensed in New York State one year or less, now is the time to take advantage of the opportunity to take GRI Zoom courses for free! Take two GRI classes with NYSAR and get the third one on us! Classes must be taken over a one-year period. Contact the Education Department via email, [email protected] or call 518.463.0300 x219 for information.
Remember: Active REALTORS® who have earned and maintained their NAR-family designations/ certifications and are looking for a refresher, may retake a previously completed designation/certification course for only $50 and earn CE credit for doing so provided your dues are current!
Government Affairs
REALTOR® Priority Bills Pass at the End of State Legislative Session
The state Legislature concluded this year’s legislative calendar on June 13. Since January, NYSAR staff reviewed thousands of active bills while tracking daily progress of roughly 1,200 bills having both a positive and negative impact on REALTORS® and real estate in general. During the final days of session, NYSAR’s lobbying efforts saw successful passage of two priority bills by both houses. The introduction and passage of these bills come after the review and direction of NYSAR member-driven committees, including the Education Management and Legislative Steering committees.
The first bill that was passed limits certain “real estate service agreements”, including residential listing agreements, to a duration of no more than two years with an option for agreed upon renewals (A.5886-C/S.6361-B) in order to curb predatory long-term listing agreements of up to 30 to 40 years. The second bill approved by the legislature increases the number of years of experience required to obtain a real estate broker’s license from two years to five years (A.7691/S.5197). This bill was introduced to NYSAR’s legislative priority list several years ago following REALTOR® discussions and concerns around the impacts that a lack of broker experience has on transactions and supervision of salespersons and office managers. Both bills will be sent to Governor Hochul for her consideration before the end of the year.
NYSAR also heavily engaged state lawmakers to oppose several harmful bills working their way through the legislative process. Lobbying efforts saw the successful defeat of legislation (REST Act) that would have greatly expanded the authority of municipalities outside of New York City to declare a housing emergency for the purposes of adopting rent control (A.4877-A/S.4659-A). Extensive meetings and conversations with state lawmakers and staff also resulted in the defeat of legislation that would have authorized any municipality to create a Community Housing Fund (A.331/S.572). NYSAR opposed this bill on the basis that the funds’ revenue source would be supplied by imposing an additional real estate transfer tax on the buyer. Learn more.
New York REALTORS® Push for Housing Supply in Washington
On June 13, REALTORS® from across New York attended NAR’s REALTORS® Legislative Meetings in Washington D.C. During the week-long event, NYSAR members, led by respective Federal Political Coordinators (FPC’s), held individual meetings with New York’s Congressional delegation to discuss critical real estate issues, including housing supply, federal tax reform, independent contractor status and expanded health care options for REALTOR® members. The annual REALTORS® Legislative Meetings provide a unique opportunity for REALTORS® across the country to advocate for the real estate industry.
Update: Amended PCDS must be used beginning July 1, 2025
On September 27, 2024, Gov. Kathy Hochul signed into law an amendment to the Property Condition Disclosure Statement (PCDS) that added a new paragraph as part of question 36. The new paragraph states, “More information on “septic system operation and maintenance” can be found on the NYS Department of Health website in the informational health pamphlet made available by the Department of Health pursuant to section 396-s of NYS general business law”. The newly amended PCDS must be used beginning July 1, 2025. Learn more.
Update: NYC FARE Act Law now in effect
On Wednesday, a new law in New York City, known as the Fairness in Apartment Rental Expenses (FARE) Act, took effect changing the broker fee practice. The new law requires that a broker fee be paid for by whomever hired such broker, essentially prohibiting landlords from passing on a broker fee onto a tenant if that broker was hired by the landlord. NYSAR strongly opposed the legislation and warned that enactment would increase base rents. Already, increases in rents are being reported as a result of this new law. NYSAR was also part of a federal lawsuit against the city challenging the law and requesting an injunction. On Tuesday, a judge denied the preliminary injunction, however, did not dismiss the case, so the law remains enforceable for now. The city Department of Consumer and Worker Protection can fine brokers and companies that violate the law by charging or even requesting a fee. The fines start at $750 for first-time offenders, $1,800 for second offenses and $2,000 thereafter. Learn more.
RPAC
2025 RPAC Fundraising & Participation Update
As of May 31, RPAC of New York has raised $434,443 reflecting 33% toward our 2025 fundraising goal of $1.3 million. In terms of participation, 7,393 members have invested in RPAC, representing 41% percent toward our 2025Participation Goal of 17,844. These figures represent 12% of NYSAR’s total membership as invested in RPAC to date.
Local Board RPAC Events on the Calendar
The Spring/Summer RPAC Fundraising season is in full bloom across New York state with several local board events on the calendar, including BNAR’s Sunset Cruises and a New York Yankees game with HGAR.
NYSAR members inducted into the NAR RPAC Hall of Fame
Sending a great big CONGRATULATIONS to our eight distinguished NYSAR members inducted into the NAR RPAC Hall of Fame as part of the NAR Meetings held in early June! $50K Tier: Mike Coughlin, John Gerace, Sari Kingsley. $25K Tier: Irene Guanill, Donna Littlefield, Francine Reali, Joe Rivellino & Kira Witherwax. Great job team NYSAR!
June RPAC Auction Item – Mesa Torch Set of 3 by Solo Stove
Set of 3 Mesa Torches by Solo Stove will upgrade your outdoor living space! The torches are adjustable, feature a large flame in a durable steel frame vessel, bring plenty of style to your outdoor vibe plus a lifetime guarantee.
Bidding will end on Monday, June 30 at 5 p.m.
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.