E-News Weekly
November 25, 2023
REALTOR® NEWS
REALTOR® Magazine: Buyer Representation is Not a Thing of the Past NAR Attorneys say
As the National Association of REALTORS® plans to appeal a class-action verdict, real estate professionals can continue to serve the best interests of their consumers and should maintain clear communication with them about compensation. To read the full REALTOR® Magazine article, click here.
For post-trial guidance from NAR President Tracy Kasper, click here.
NYSAR Professional Standards/Code of Ethics video series
NYSAR recently wrapped up a Professional Standards/Code of Ethics video series project. These videos were produced with the help of a committee of your peers and represent situations that are very common in daily real estate practice. There are a total of 11 videos in the series and they are designed to be educational, instructional and a reminder of the Code of Ethics you live by every day. Watch Article 5: “Insider Trading: Not Just for Wall Street,” by clicking here.
NYS October Housing Market Report
“As interest rates inched closer to eight percent, sales of homes across the Empire State dipped once again in October.”
To read the full NYS October Housing Market Report, click here.
Watch “The Skinny” video to give clients an easy-to-understand overview of today’s market.
Also, download the monthly stats infographic.
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.
Register now for Triple Play 2023!
Grow and succeed in your real estate career! Registration is now open for the 2023 REALTORS® Triple Play Convention & Trade Expo, which will be held Dec. 4–7 in Atlantic City, N.J.
Register before October 17 and save $30. For more information, click here!
Education
November 28-29, 2023| 9:00 AM to 1:00 PM
Certified International Property Specialist – CIPS: Asia/Pacific & International Real Estate
Hours: 7.5; Including 2 in Cultural Competency | Instructor: Linda Lugo
Members: $150
Learn the intricacies of navigating transactions in India, the Philippines, UAE, China, Japan, Australia, and other Asia/Pacific Rim countries. Identify important laws, historical information, cultural norms, geographic factors, investment patterns and trends in various markets that will assist you in facilitating transactions. This class is one of the electives that maybe taken as part of the CIPS Designation requirements along with the 2 required CIPS Courses (Local Markets and Transaction Tools) which NYSAR will offer in June 2024. There is no prerequisite. You must take the required classes before this course. Register Now!
November 28-December 1, 2023 | 9:00 AM to 1:00 PM
GREEN NAR Designation Course
Hours: 13.25 | Instructors: Matthew Dean and Randy Templeman
Members: $295
Apply green knowledge to enhance your business while also helping to create a more sustainable, healthy world. As regulations and codes change, consumer demand for these homes is increasing. What makes a high-performance home; how does it work? Learn where to find advice and sources of information to help homeowners improve their home performance — from low-cost fixes and DIY projects, to retrofitting and replacing systems, to big budget remodeling projects and new construction. Discuss challenges in valuing resource-efficient homes and how to position yourself as the local expert in this growing sector of the market. Register Now!
As a reminder, active REALTORS® who have earned NAR-family designations/certifications and are looking for a refresher, may retake a previously completed designation/certification course for only $50, provided your dues are current.
View the full Zoom Education Calendar
Government Affairs
City of Newburgh is latest locality to consider imposing rent regulation under state’s ETPA
The City of Newburgh recently released the conclusions of a residential rental vacancy study that revealed the city has a vacancy rate of 3.93 percent. Since the vacancy rate is below the 5 percent threshold, the city would be eligible to declare a housing emergency, which would authorize the regulation of certain residential rents under the state’s Emergency Tenant Protection Act (ETPA). Under the ETPA, properties with six or more legally established residential units built before January 1, 1974, would qualify for regulation. A public hearing will take place on December 11, after which the city council will consider whether or not to move forward with a possible vote to declare a housing emergency and evoke ETPA protections. The one-square-mile Village of Nyack adopted rent regulations earlier this month and the Village of Croton on Hudson voted to expand rent regulations. Learn more.
NYISO to keep 4 NYC peakers running past planned 2025 retirement to maintain reliability
The New York Independent System Operator (NYISO) will keep four peaker plants operating past their expected May 2025 retirement date in order to maintain an adequate electric reliability margin in the nation’s most populous city, grid officials said in a Short-Term Reliability Process Report published Monday. In July, the ISO concluded New York City will face a 446 MW deficit in its reliability margin beginning in the summer of 2025 due to rising demand and new emission limits on peaker plants. New restrictions and stricter rules on emissions are significantly contributing to energy reliability according to these reports. Learn more.
Con Edison ends Westchester gas hookup moratorium
Con Edison declared an end to a prohibition on new gas service in parts of Westchester County, allowing new buildings and customers to hook up starting in December. The utility notified the state Public Service Commission on Friday that it would lift the moratorium that took effect in March 2019 after repeated warnings. Con Ed cited lower demand forecasts and additional gas flowing into its territory from a pipeline upgrade. The utility plans to communicate the end of the moratorium with local officials and customers. It will notify customers on an interest list who inquired about gas service during the moratorium.
Rep. Santos will not seek reelection
Embattled Republican Rep. George Santos said he won’t seek reelection in 2024 after a bipartisan House subcommittee investigating him published a report that found “substantial evidence” the Long Island and Queens lawmaker knowingly committed a series of ethics violations and potential crimes. Learn more.
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RPAC
Congratulations SIBOR!
The Staten Island Board of REALTORS®, in collaboration with their YPN chapter, hosted an RPAC Bowling Night this past week that raised over $1,000 for RPAC. The event featured food, drink, bowling and plenty of fun in the name of RPAC, thank you SIBOR and congratulations on a successful event.
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Get all of the latest news at www.nysar.com. You are receiving this information as a member of the New York State Association of REALTORS®. NYSAR occasionally sends information regarding association programs and services as well as industry news to its membership. Manage your NYSAR email subscriptions. Unsubscribe from ALL NYSAR emails.
New York State Association of REALTORS®, 130 Washington Ave., Albany, NY 12210 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. 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.