Supra Fees Increase | Effective July 20, 2019

*eKey Basic Monthly - $18.90 + plus $1.51 Tax = $20.41

*eKey Prof. Monthly - $31.15 + plus $2.49 Tax = $33.64

*Insurance Yearly - $29.95 + plus $2.40 Tax = $32.35

Members Be Aware!

It has come to the boards attention that a former member/agent has asked a couple of agents to look at their listings and would need the key because, their Supra was not working.

This person is no longer licensed and does not have Supra Access.

If someone you're not familiar with states their Supra isn't working and request access, check the Department of State to see if they are currently licensed, or call the board office.

Raffles, Sweepstakes & Giveaways


Recently, we have been asked been about raffles at Broker Opens, Open Houses, and other events. Raffles are covered under NYS laws on gambling and gaming and not under license law. The following information is provided for your knowledge only from S. Anthony Gatto, Esq (General Counsel & Director of Legal Services, New York State Association of REALTORS®, Inc.):

There are a number of factors to take into consideration when determining the "legality" of a raffle, sweepstake or giveaway. Brokers wishing to engage in such activities should discuss such matters with their attorney as there may be filings required depending on the type, frequency and "prize" of the raffle, sweepstake and/or giveaway. Furthermore, there may be other issues relating to obligations of the winner to report such monies as a "prize" as miscellaneous income.

As the matter is a legal issue outside of the scope of licensure, brokers should consult with their attorney as to whether they want their associated licensees conducting such activities as it is actually the broker doing so.

While we are happy to send Broker Open flyers to all of the agents to help you advertise your event, if your information includes a raffle, we will eliminate the portion about the raffle prior to sending it out.

The new Multi-Use Addendum Form is now available in printable forms.

DOS Division of Licensing Services notice of Change to regulation 175.23 Records of transaction to be maintained.

a) Each licensed broker shall keep and maintain for a period of three years, paper and/or electronic records of each transaction effected through his or her office concerning the sale [or mortgage] of [one- to four-family dwellings] real property used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons improved by a one-to-four family dwelling, or a condominium or cooperative apartments but shall not refer to unimproved real property upon which such dwellings are to be constructed. Records to be kept and maintained shall contain:
(1) the names and addresses of the seller[,] and the buyer, [mortgagee, if any,] (2) the broker prepared purchase contract or binder, or if the purchase contract is not prepared by the broker, then the purchase price [and resale price, if any,] and the amount of deposit [paid on contract](if collected by broker), (3) the amount of commission paid to broker, (4) [or g]the gross profit realized by the broker if purchased by him or her for resale, [expenses of procuring the mortgage loan, if any, the net commission or net profit realized by the broker showing the disposition of all payments made by the broker. In lieu thereof each broker shall keep and maintain, in connection with each such transaction a copy of (1) contract of sale, (2) commission agreement, (3) closing statement, (4) statement showing disposition of proceeds of mortgage loan.] (5) any document required under Article 12-A of the Real Property Law and (6) the listing agreement or commission agreement or buyer-broker agreement.

(b) Each licensed broker engaged in the business of soliciting and granting mortgage loans to purchasers of one to four family dwellings shall keep and maintain for a period of three years, a record of the name of the applicant, the amount of the mortgage loan, the closing statement with the disposition of the mortgage proceeds, a copy of the verification of employment and financial status of the applicant, a copy of the inspection and compliance report with the Baker Law requirements of FHA with the name of the inspector. Such records shall be available to the Department of State at all times upon request.](b) In some transactions, the broker may not be provided a copy of the documents required to be maintained by subdivision (a) of this section. In such instances, the broker will not be found to have violated the requirements of this section.

A message from Jefferson County Real Property Tax Services :

"As you are probably aware, all governments are being asked to cut costs while maintaining core services. Jefferson County Real Property Tax Services is not immune from those pressures.

Over the past several years, we have been making as much information available online so the public and your members would be able to access the information.Currently everything from current tax rates, assessment and tax rolls and general information is available on our website at www.co.jefferson.ny.us/index.
aspx?page=224


We also have an interactive site (Imagemate Online) that allows for a search of our database on various criteria.
Imagemate Online

There is also current tax bill information along with a tax calculator that is available. There is also historical tax bill information available in most cases back to 2006. One of the nicest part of the site is the maps section. It allows for the viewing of the current tax maps of the parcel being searched along with a quick link to google maps.

For those that may not have a smart phone or internet access, we have public access computers in our office that are available to search for all the information I previously mentioned.

I bring this to your attention with the hope that you would inform your membership of the information. While we have always strived to provide information by the phone, we may be forced to delay immediately filling requests for information readily available online to a time available basis. Also if there is any information that we don't have online that your organization feels would be helpful, please let us know. If not prohibited by statute, we can try to make it available."

Thank you for your assistance.

Paul Warneck, Director.
Real Property Tax Service.

TAX CREDIT: Did you know that members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the tax credit? For more information straight from the IRS..... http://www.irs.gov/newsroom/article/0,,id=215594,00.html

List of MLS Members NOT Needed
9/15- You do NOT need to give out copies of our companies. Lance had the following memo from our Installation Dinner speaker, John Goldman:

Lance,
Licensing Counsel has confirmed that the subject Reg. has in-fact been repealed. The Licensing Law Booklet was apparently never updated.

I apologize to you and your membership for the mis-information I presented at Thursday's presentation. Please pass on the correct information to your membership.

Sincerely,
John A. Goldman
License Investigator 3/District Manager
Upstate Enforcement Units
New York State Department of State
Division of Licensing Services

9/11-At our Installation Dinner last night, John Goldman License Investigator 3/District Manager for the NYS Department of State stated that when taking a listing, licensees need to give the client a copy of the firms in the MLS.

He cited in license law section 175.24 (Exclusive listings—residential property), letter c, section 1 (emphasis added).

(c) If an exclusive listing of residential property is obtained by a broker who is a member of a multiple listing service:
(1) he shall give to the homeowner a list of the names and addresses of all member brokers

To help you comply, we have created a list for you to use and put it under "Agency List" in the "Printable Forms" section. You can click here or along the side bar. We will update this as needed.

Advertising Guidelines
NYS Law requires that you put the name of your brokerage and the brokerage's phone number in every advertisement you do.

So, if you are doing an individual ad in a newspaper, online (including website, Craig's List, etc.), on TV, and so forth, you must have (at the minimum) the following:

John Doe, Broker (or) John Doe, XXX Realty

315-xxx-1000
in the ad.

NYS Law states in 19 N.Y. Comp. Codes R. & Regs. 175.25:

* Section 175.25.* Advertising.
(a) All advertisements placed by a broker must indicate that the advertiser is a broker or give the name of the broker and his telephone number.


(b) All advertisements place by a broker which state that property is in the vicinity of a geographical area or territorial subdivision must include as part of such advertisement the name of the geographical area or territorial subdivision in which such property is actually located.

Other items you may have in the ad:

Property Description, etc.

Your name (as it appears on your license) & License type (Licensed Real Estate Broker or Lic. R.E. Broker;
Licensed Associate Real Estate Broker or Lic. Assoc. R.E. Broker; or Licensed Real Estate Salesperson or Lic. R.E. Salesperson)

home or cell number

designations

anything else that is true and accurate


Further Information:

The Code of Ethics and NYS Law requires you to be truthful in your advertising, including any electronic advertising (like Craig's List, etc.). In addition, all principal brokers and appraisers are responsible for the content of any advertising done by licensees under their license, including websites.

Article 12
REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional. (Amended 1/08)

More specifically, Standard of Practice 12-8 states:

Standard of Practice 12-8
The obligation to present a true picture in representations to the public includes information presented, provided, or displayed on REALTORS®' websites. REALTORS® shall use reasonable efforts to ensure that information on their websites is current. When it becomes apparent that information on a REALTOR®'s website is no longer current or accurate, REALTORS® shall promptly take corrective action. (Adopted 1/07)

TAXES ALERT or "Why did my deal fall apart?"

One of our affiliates sent the following:

Good Afternoon,
I'm not sure if this is appropriate to address with the Board of Realtors, but we seem to be experiencing somewhat of a trend in property taxes listed on the MLS information as being incorrect. I'm not talking about a matter of a few dollars.

Just today, I've confirmed taxes on 2 city properties where the MLS info posted reflects taxes of $800 and $1,400 lower than what the true taxes are. I know the board doesn't police this information, but can it be mentioned to the Realtors and broker owners discrepancies of this size make or break a customer being able to afford the home? I'm sure they don't want to be involved in any "the deal fell apart at the closing table" transactions. Thank you for listening!

CRAIG'S LIST PROBLEMS

Rob Moyer sent us the following information:

Today I received the following inquiry on an ad I have posted on Craigslist. It didn't seem right to me so I googled the phone number. I found a link to a web site, which I have also attached. If you get this from a Craigslist posting DO NOT call the number. This is like our 900 numbers, you are automatically charges a very high amount for calling the number. - Rob

http://www.mycharlottesvilleblog.com/?p=3385&cpage=1

Hi there,

I am interested in viewing one of your properties, could you please call me on my foreign mobile +882 135 503 23 to setup a time. As I am travelling at the moment I am unable to pickup emails regularly so please call.
Kind regards,
Liz Casey
---------
Mobile: +882 135 503 23
Email: lizcasey@zapak.com

2009 First-Time Homebuyer Tax Credit Facebook Page now available.

As part of the Feel at Home in NY campaign, NYSAR has created a Facebook page highlighting the 2009 First-Time Homebuyer Tax Credit. The page is a great way to educate the public about the tax credit as well as to direct prospective buyers to nysar.com and the "Find a REALTOR" section. Become a fan now and spread the word!


http://www.facebook.com/pages/2009-First-Time-Homebuyer-Tax-Credit/109701365588?ref=share#/pages/2009-First-Time-Homebuyer-Tax-Credit/109701365588?ref=ts

Did you know that the DOS Licensing Hearing Decisions are online at http://www.dos.state.ny.us/ooah/? Click on "decisions" and search by profession or key word or words.

CREDIT CARDS
By popular request, the Jefferson-Lewis Board of REALTORS® can now accept credit cards for payment. We can handle Visa, MasterCard and Discover. We request a $10 minimum.

To use a credit card, fill out the credit card form which is now in Printable Forms on the website and fax (782-3541) or mail to the office. Or call our office (782-1322) with your card information. If you're in the neighborhood, stop into our office.

Your credit card can be used for classes, Supra bills, annual dues. Brokers can pay for MLS access or forms.

Please be wary of a situation like this:

Doris Olin reports a John of Transcend Marketing who targets real estate offices by offering to optimize their websites. Then, he makes repetitive charges on your credit card. Please be careful!!!

John DiNicola, representing "International Relocation Services" is visiting local real estate offices promising them exclusivity. He charges $1950 per year for his services. If less than 10 referrals are made to him in a year, no refunds are made. Some offices have taken him up on his offer and lost their money, since he did not receive enough referrals.

We have been asked to post information on the "Uncapped Natural Gas Well Disclosure - Effective January 1, 2007." A sample form from NYSAR's site is posted in the "Forms" section of "Printable Forms."

Brief summary from NYSAR's website:

Sellers are now required to disclose the presence of uncapped natural gas wells to prospective purchasers effective on 1/1/07 verbally or in writing

Sellers must disclose prior to the signing of any listing agreement or agreement to market the property in any way

REALTORS® should advise sellers that disclosure is required where applicable

INFORMATION ON THE HOME EQUITY THEFT PREVENTION ACT

Effective February 1, 2007, the "Home Equity Theft Prevention Act" will take effect in New York State. The act amends §595-a of the Banking Law and adds §265-a of the Real Property Law. The basic premise of the act is to protect individuals who are currently in default of their mortgage obligation (the act defines "default" as being two (2) months or more behind in their mortgage payments) or in foreclosure (either through the filing of a Lis Pendens or by the property appearing an active property tax lien sale list).

The act is applicable for all contracts relating to the sale/purchase of real property in New York where the seller is in default and/or foreclosure and the purchaser is not going to occupy the property as a primary residence. In the event that the act is applicable, New York REALTORS® should be aware of the requirements set forth in the act.

Any contract (including binders) entered into on or after February 1, 2007 that fall under the act are required to have the following items included:

1. All contracts must be in type equal to twelve point boldface in English (or in English and Spanish if Spanish is the primary language of the seller).
2. All contracts are to be effective on the fifth business day after the date on which the contract was executed. Cancellation within the five business days occurs when the seller, or their representative, personally delivers written notice of cancellation to the address specified in the covered contract or sends a letter via facsimile or other means of written communication, United States mail, or through an established commercial letter delivery service, indicating cancellation to the business address of the equity purchaser listed on the covered contract. Proof of facsimile delivery or proof of mailing creates a presumption that the notice of cancellation has been delivered. Within ten days following receipt of a notice of cancellation, the purchaser shall return without condition any original contract and any other documents signed by the seller as well as any fee or other consideration received by the purchaser from the seller. Cancellation of the contract shall release the seller of all obligations to pay fees to the purchaser.
3. The entire agreement of the parties shall include, but are not limited to, the following terms:
a. The name, business address, and the telephone number of the equity purchaser;
b. The address of the residence in foreclosure or, where applicable, default;
c. The total consideration to be given by the equity purchaser in connection with or incident to the sale;
d. A complete description of the terms of payment or other consideration including, but not limited to, any services of any nature which the equity purchaser represents he or she will perform for the equity seller before or after the sale;
e. The time, if any, at which physical possession of the residence is to be transferred to the equity purchaser and the residence vacated by the equity seller;
f. The terms of any rental or lease agreement;
g. The terms of any reconveyance arrangement;
h. A notice of cancellation shall appear on the contract in immediate proximity to the space reserved for the equity seller's signature and shall be in at least fourteen-point bold type if the contract is printed or in capital letters if the covered contract is typed. The notice must contain the name of the equity purchaser and the date and time by which the covered contract must be cancelled. The notice shall be completed by the purchaser. Figure A is a sample copy of the notice required by the act.
i. The covered contract shall be accompanied by a form completed by the equity purchaser in duplicate, captioned "notice of cancellation" in at least twelve-point bold type if the covered contract is printed or in capital letters if the covered contract is typed. This form shall be attached to the covered contract, shall be easily detachable, and shall contain in type of at least twelve-point if the covered contract is printed or in capital letters if the covered contract is typed, the following statement written in the same language as used in the covered contract. Figure B is a sample copy of the notice of cancellation required by the act.
j. The purchaser shall provide each seller with two copies of the covered contract and attached notice of cancellation. The purchaser shall accurately enter the date on which the right to cancel ends.

If the purchaser is in violation of the provisions of the act, the transaction may be voidable by the seller for up to two years following the date of recording of the conveyance. If the residential property was subsequently transferred to a bona fide purchaser prior to the filing of a notice of rescission, the bona fide purchaser is not subject to the rescission by the seller.

Any term in a contract limiting the liability of a purchaser as it relates to the provisions of the act shall be null and void and at the option of the seller can render the contract null and void. Likewise, any section requiring arbitration relating to the provisions of the act shall be null and void at the option of the seller.

REALTORS® should be aware as to whether or not a seller is in foreclosure or default of their mortgage. If it is found that the seller is, and the purchaser is not going to occupy the property as their primary residence, the REALTOR® should be fully aware of the provisions of the act and provide the appropriate notices set forth in the act.

Could your client be a victim?
The Board Office has received several reports of Watertown area break-ins where the intent was to steal copper. You may want to warn clients who are owners of vacant properties to take precautions.

The Board Office has also received several reports of a family who enters listed vacant homes as a squatter. They work through a REALTOR and "give you a good line." They look first for pre-occupancy before the sale closes. The name is Swartzfigure.

The following is a message regarding the recently signed Commission Escrow Act from Anthony Gatto, NYSAR Legal Counsel. We will be changing our listing contract accordingly.

As all of you know, the Commission Escrow Act was signed into law by the Governor. As a result, effective January 1, 2009, all listing agreements should contain a mandatory disclosure as required under the statute. I have included the section of the statute [Real Property Law section 294-b(4)(k)] that addresses the requirements. The disclosure must be included on listing agreements in clear and conspicuous boldface type. If there is no disclosure on the listing agreement, the broker will be unable to utilize the provisions of the Commission Escrow Law. If the broker uses a listing agreement that does not contain the mandatory disclosure and then attempts to utilize the provisions of the act, he/she may be subject to disciplinary action by the Department of State.

NYSAR would recommend that each board/MLS change their listing agreement accordingly by including the disclosure as required by the act. In the event you are unable to have new listing agreements by January 1, 2009, an addendum may be attached to the listing agreement. In order to minimize any potential liability, the addendum should be labeled clearly such as "XYZ Multiple Listing Service Exclusive Right to Sell Addendum". The addendum must contain the disclosure below and be signed by the seller and licensee to be valid. This should only be used as a short term solution and it must be emphasized that it be signed at the same time as the listing agreement.


RPL section 294-b(4)(k) states as follows:

The provisions of this subdivision shall only apply when the written contract of brokerage employment contains the following notice to the seller in clear and conspicuous bold face type:

"At the time of closing, you may be required to deposit the broker's commission with the county clerk in the event that you do not pay the broker his or her commission as set forth herein. Your obligation to deposit the broker's commission with the County Clerk may be waived by the broker."

NYSAR will be releasing additional items including numerous webinars on the Commission Escrow Act during the last quarter of the year.

Attention all Brokers and Agents

The Dept. of State has done away with Drop Cards, Change of Association cards, and License Renewal cards. These tasks must all be done ONLINE now.

Please note BROKERS: if you are dropping agents or bringing on an agent who is switching into your office, we need a print screen of this before processing it, so we can file it away

Click the link below to access the eAssessNY site. From there, set up an account (follow the simple instructions in the yellow box)...

eAccessNY

Thank you!

NOTICE

Agency disclosure form webinar now available online

Real estate licensees throughout New York State will be required to use the new agency disclosure form beginning January 1, 2008. In late November, NYSAR Legal Counsel Anthony Gatto, Esq., hosted an online seminar in which changes to the form were discussed and questions about the form were answered.

NYSAR members can access this pre-recorded webinar at their convenience by visiting the Library Section or the Legal Resources Section of nysar.com. Among other topics, Gatto discusses the form's new definition of broker's agent as well as numerous other changes aimed at simplifying the form.

To disclose or not disclose, that is the question...

I have been asked about when you need to disclose/can't disclose facts about properties and what the circumstances are for each. Here are 3 resource pages on the NYSAR site.

Sex offender (see also below)
http://www.nysar.com/members/legal/megan.asp

Stigmatized property
http://www.nysar.com/members/legal/compend/e16disclosure.asp

Disabled group home
http://www.nysar.com/members/legal/compend/e16disclosure.asp

More Sex Offender Information originally posted in June 2005:
I have asked several times about whether or not a licensee needs to disclose if a sex offender lives near a listing.
I received the following answer from Dona Clark, Lisense Investigator III, NYS Department of State Division of Licensing Services on Thursday, May 26, 2005:

"A real estate broker does not have a duty a duty to disclose regarding a sex offender living in the neighborhood unless they are directly asked....they then must provide an honest and forthright answer."

A resource for your customers and clients is the NY Sex Offenders Registry at http://criminaljustice.state.ny.us/nsor/.

Do I have to disclose the presence of a registered sex offender to the buyer?

Article 2 of the Code of Ethics states a REALTOR cannot conceal pertinent facts about the property. It further states that a pertinent fact is not something deemed to be "non-material" by law or regulation as not being subject to disclosure. The leading case in New York is Glazer v. LoPreste. The ruling states that a seller's agent has no duty to voluntarily disclose any information to a potential buyer absent a fiduciary or confidential relationship. Therefore, a buyer's agent has an affirmative duty to disclose the presence of a registered sex offender to a potential buyer. As of now, the Glazer v. LoPresete ruling protects seller's agents from liability based on the facts and circumstances of that particular case. It is plausible that if the facts were different and a buyer specifically asks if a sex offender lives in the neighborhood, the seller should disclose or refer them to the sex-offender registry. Any other answer may subject the REALTOR to potential liability.

(source: NYSAR's Legal Hotline FAQ http://www.nysar.com/members/legal/legalhot.asp#ja05)

There has been some confusion on when an agent should apply to the Association. The broker or principal appraiser is responsible for dues and fees from the minute the license or 30 day letter (temporary license) is issued by the NYS Department of State. If a new agent has joined your office, he/she should be applying the same day.

A 30 day letter IS the same as a license. There is no need to wait until the permanent license is issued before the agent applies.

We do periodic spot checks of the Department of State website to check licensees in each office. To avoid being back-billed, or having someone report your office for having agents that are not accounted for in the dues formula, please make sure that new licensees have their application in as soon as they join your office.

8/2005
As of September 1, residents can get their credit report for free and their credit score for a little more.

The following is an excerpt from the Newsday article that appeared on 8/21 which states in part:

"The three reporting agencies set up a national clearinghouse to handle requests for free reports, accessible at www.annualcreditreport.com. If you don't go through the clearinghouse, you will be charged.

"To get your report, you need to provide your name, address, Social Security number and date of birth. But to verify your identity, you also may have to give more specific information, such as your monthly mortgage payments.

"You must still pay for your credit score, which puts a number on your credit-worthiness. There are several credit-scoring systems, but a common one, FICO, has a range from 300 to 850. A score of 700 or more often qualifies you for the best terms.

"The charge for your score at each company is about $5, and you can order it while ordering your report. Consumer advocates say it's worth the money, especially because the reporting agencies often provide information on the steps you can take to improve your score."

ATTENTION!
If you want to do business on Fort Drum, you need to get a solicitation permit. You need to contact Karen Harwood in DCA (Directorate of Community Activities). She can be reached at 772-5844 or by visiting her in Clarke Hall.

THIS PERMIT DOES NOT GET YOU ON POST. You need to have a contact on post.

I have heard from several agents recently about occasions where an agent has shown a property only to learn that a purchase offer on the property was accepted before the agent had even shown the property.

I want to remind you that Standard of Practice 3-6 (Article 3) of the Code of Ethics was amended in 2004 to read:

"REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation."

This can be done easily by using the "pending" or "pending show" options or by using the "remarks" section and noting it in there. The "remarks" section shows on the full summary only and is NEVER to be given to a buyer client or customer.

(Please note that the duty to reveal the existence of a purchase offer does not obligate you to reveal the terms of the offer.)

-Lance