On Jan. 31, the New York State Department of State issued further guidance with respect to the Statewide Housing Security and Tenant Protection Act of 2019 and the Housing Stability and Tenant Protection Act of 2019 (the “2019 Acts”) [see https://bit.ly/2xA6lth] passed on June 14, 2019. The publication, entitled “The Guidance for Real Estate Professionals…
Read MoreNEW YORK—Terming the recently released guidance by the Department of State on brokerage commissions as “misguided” and “harmful,” the New York State Association of Realtors and the Manhattan-based Real Estate Board of New York announced on Feb. 7 their intent to file suit against New York State charging that the DOS overstepped its legal authority.…
Read MoreALBANY—The New York real estate industry, particularly downstate, is reeling from guidance recently released by the Department of State that now among other changes regarding regulations on landlords and agents, prohibits a landlord’s agent from collecting a broker/fee commission from a tenant in residential rental transactions. The guidance, part of a sweeping update released by…
Read MoreIn December, this column focused on the extensive multi-year investigation conducted by Newsday (see https://bit.ly/357OA3L) and the widespread fair housing violations and discrimination taking place on Long Island. The Newsday investigation opened the eyes of the real estate industry to the discrimination that is still taking place many decades after the enactment of the original…
Read MoreI got a call yesterday. It’s the type of call I get regularly. The call usually goes something like this: “If a listing is “off market” on the MLS, this means that I can reach out to the homeowner and attempt to list the property, right? My answer: “Well… not really. It depends.” There was…
Read MoreALBANY—In response to recent published reports of alleged fair housing discrimination on Long Island, the Real Estate Board of New York on Dec. 16 approved new regulations for real estate professionals to help combat housing discrimination. The new regulations, which the New York State Real Estate Board approved today, mandate enhanced disclosures by real estate…
Read MoreAs technology continues to develop, the fine line of what is permissible and impermissible continually gets rubbed away. Most recently, the issue of staging has jumped to the forefront and perhaps it’s beneficial that we address it as it relates to virtual reality. Traditional Staging Standard staging has been popular for decades. With the desire…
Read MoreA recent article in Newsday, “Long Island Divided” (See https://bit.ly/357OA3L), has shed a critical light on the discriminatory practices, which at times were blatant and at other times more subtle, that were taking place in the real estate industry. While the investigation focused on the real estate market in Long Island, the behavior uncovered by…
Read MoreAs we all know, time waits for no one and as the clock continues to tick, the lives we lead are subject to change. This includes everyone who holds a real estate license. As time marches on, we all have to adjust, change and grow. Change in NAR Code of Ethics Training Requirement On Nov.…
Read MoreThe real estate industry is going through notable changes. New changes are being proposed to the Advertising Regulations (Section 175.25) of the New York State Department of State’s Regulations, as well as the introduction of new policies by the National Association of Realtors. These and other recent developments are coming at a time when the…
Read MoreWASHINGTON—U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr issued a Memorandum of Understanding on Oct. 28 between the two agencies that sets what the two agencies say is “prudential guidance on the appropriate use of the False Claims Act for violations by Federal Housing Administration lenders. “This agreement clearly…
Read MoreIn a recent decision, Widlitz v. Douglas Elliman, LLC, (see https://bit.ly/2AZ2BTH), the plaintiff commenced an action against her real estate broker and attorney based on a variety of claims, such as breach of fiduciary duty, negligent misrepresentation and fraudulent misrepresentation, because the newly constructed condominium unit she was in contract to purchase did not have…
Read MoreIt’s Halloween, so let’s delve into the darker side of real estate with a ghost story and a discussion on a Realtor’s duty to disclose. The Story Stambovsky v. Ackley, 169 A.D.2d 254 (N.Y. App. Div. 1991), was a lawsuit that has been talked about for years and has had far-reaching impact on the industry.…
Read MoreAs Realtors, you have a duty to do what’s in the best interest of your clients. This includes marketing a client’s property to the best of your ability. This has created the trend of “Coming Soon” and “Office Exclusive” marketing. Although these may sound beneficial to the client, they create challenges that can quickly get…
Read MoreIn a recent decision, Sanjana v. King (see https://bit.ly/2kDGf5K), the Appellate Division, First Department, affirmed the Supreme Court’s decision, (see https://bit.ly/2Mw924T) which held that a seller could retain the purchasers’ down payment of $110,000 as liquidated damages where the purchasers failed to timely cancel the contract of sale in accordance with its terms when the…
Read MoreHealth insurance is of the utmost importance to every American no matter what profession they are in. It can determine what type of care someone gets and what level of care they can afford. Realtors are independent contractors and, in most cases, cannot obtain health care through their brokerage affiliation. If the Realtor is a…
Read MoreSince the passage of the Statewide Housing Security and Tenant Protection Act of 2019 (the “2019 Act” or “Act”) [see https://bit.ly/2xA6lth] on June 14, 2019, the Hudson Gateway Association of Realtors, Inc. has been receiving many inquiries regarding the act. Among some of the commonly asked questions relate to: (1) whether the 2019 Act applies…
Read More“Show me the Money!” That is one of the most memorable sports movie quotes in history. I challenge anyone to say that they never heard it or that they haven’t said it themselves. Realtors should say, “Show me the commission!” The problem is, sometimes they’re entitled to it, other times they’re not. So, here’s a…
Read MoreOn June 14, 2019, Gov. Andrew Cuomo signed into law the controversial Statewide Housing Security and Tenant Protection Act of 2019 [see https://bit.ly/2xA6lth]. The act went into effect immediately and it significantly modifies and expands the existing rent regulations. The act changes both the legal and business landscape in the New York real estate market…
Read MoreDid you know that you can be fined/sued for photos that appear on your webpage that you never personally posted? Well, you can, but you can also protect yourself… and you should! Photograph Copyright A copyright is a legal device that gives the author of a creative work the sole right to publish and sell…
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