ChatGPT, Chatsonic, BingChat, YouChat. No, these are not social media sites where you chat about your favorite recipes or movies. These are artificial intelligence (AI) chatbot sites where a person can enter a query and have a response generated by the computer, culling information from the vastness of the Internet. The results are human-like e-mails,…
Read MoreThe Banking Crisis, Commercial Real Estate, the Debt Ceiling, Fears of Recession In January and February, the stock market had rebounded nicely from a difficult 2022, and while interest rates remained at elevated levels, they were off of the highs reached in November. Both the stock market and real estate market seemed to stabilize somewhat…
Read MoreMost Realtors think that all the articles of the Code of Ethics apply in all situations. If you thought this, you’d be wrong. In New York State, there are two specific provisions of the Code of Ethics that do not apply. Because of the recent uptick in calls and e-mails regarding them, I thought it…
Read MoreVarious state and federal court decisions have been issued recently impacting the real estate industry. At the federal level, two important decisions have been issued relating to antitrust lawsuits involving the payment of real estate commissions and the Department of Justice’s investigation initiated in 2019 into the National Association of Realtors’ Clear Cooperation Policy and…
Read MoreAll New York state real estate Salespersons or Associate Brokers must place their licenses with a brokerage in order to conduct business. While you may not be an employee, the brokerage is required to monitor and supervise your activities. If a licensee violates the Department of State (DOS) rules and regulations relating to real estate…
Read MoreStone Soup—For those that haven’t heard this story, it’s about hungry travelers who say they are going to boil a big stone in a pot of water to make soup for everyone. While they say it’s delicious, they also say that it needs a little bit of garnish, which is missing, to improve the flavor.…
Read MoreOn Jan. 5, 2023, the Federal Trade Commission issued a proposed rule (see https://bit.ly/3T5ixuM] (“Notice of Proposed Rulemaking” or NPRM), that would ban employers from imposing non-compete clauses and agreements on employees. The public comment period for the NPRM ends on April 19, 2023. The rule’s genesis stems from an Executive Order issued by President…
Read MoreIt is an absolute pleasure to be writing this column. Not only is this the first time a Government Affairs Director has provided a column in many months, but also, this is my first opportunity to introduce myself to the HGAR membership. On top of that, we are weeks away from Lobby Day! My name…
Read MoreIn early 2023, it is clear that cryptocurrency, blockchain technology and the metaverse are on track for a significant recovery. In 2020 and 2021, increased interest in blockchain technology and significant investment in cryptocurrency and the metaverse became a major focal point for companies and investors alike. Throughout 2022, however, we witnessed what has been…
Read MoreAll Professional Standard rules and procedures are developed by the National Association of Realtors and are adopted by each state and local association. Some rules and procedures are required, but others are subject to individual association adoption. One of these optional procedures is the possible adoption of a Citation Program. A Citation Program is simply…
Read MoreYep, it’s that time of year again. The 2022 year has ended and Realtors can go to OneKey MLS and see the final 2022 real estate activity statistics. It’s also at this time of year that, inevitably, Realtors come out of the woodwork with all sorts of marketing to say, “I’m #1!” Sadly, for me,…
Read MoreReal estate investment and housing make up a very important and critical component of the U.S. economy. Housing averages roughly 15% to 18% of the Gross Domestic Product (GDP) annually. The National Association of Home Builders (NAHB) explains that the contribution of real estate and related services to GDP occurs in two ways: (1) “Residential…
Read MoreUsually, as the year comes to a close, I often do a “year in review.” However, this year I’d like to gaze into my crystal ball (actually, it’s a Magic 8 ball) and look at what the future might hold for the real estate industry. As many of you know our industry is under attack…
Read MoreAn essential and important element of any real estate transaction is the agreement entered into by the parties. There are a variety of agreements that are entered into by the various parties in a real estate transaction, such as the listing or agency agreement between the seller and the seller’s agent, the agency agreement between…
Read MoreThere are many critical issues real estate licensees and real estate attorneys should be aware of when it comes to representing the estate of a deceased individual. It is important for these professionals to have a basic knowledge of these issues before being formally engaged by an estate, the nominated representative of an estate, or…
Read MoreFor years, people have been able to eavesdrop on others. This had been done by wiretapping phones, electronic listening devices and cameras. Sometimes these devices are obvious; other times, they’re hidden. Today, home security systems and “nanny cams” are everywhere. Recently, NYSAR came out with new disclosure forms and recommended disclosure language relating to the…
Read MoreWhile many real estate professionals are familiar with the concept of adverse possession, few consider the issues that can arise when selling and purchasing real property. The concept has been around for ages. In its basic form, the concept allows a person who takes possession of real property, makes improvements to it, possesses it in…
Read MoreFor those of you that don’t recognize the quote, it’s from The Sixth Sense. It’s a great movie and truly worth rewatching, especially now. Because we’re approaching Halloween, I thought I would revisit the concept of stigmatized properties and what are an agent’s duties to disclose. Stigmatized properties come in many forms. The ones we…
Read MoreJust over a year ago, on Sept. 1, 2021, New York City and surrounding areas were severely affected by Hurricane Ida. In just a few hours that day, unprecedented flash flooding caused horrible death and devastation. The flooding caused by Ida took the lives of 29 people in New Jersey and 16 people in New…
Read MoreHave you ever run into a situation where your homeowner tells you that they’re not going to pay your commission? When I first became involved in the real estate world, I would hear these stories and how brokers would march down to the local courthouse to file a lien on a client’s property. This raised…
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