Real Estate Industry Prevails: Court Determines that Landlords' Agents Can Be Paid by Tenants
On April 9, 2021, the Supreme Court of the State of New York, County of Albany, issued a ruling in favor of the real estate industry declaring that the Tenant Protection Act (TPA) does not apply to commissions that are paid by a tenant to a landlord’s agent. Therefore, a landlord’s agent may collect commissions from a tenant.
In 2020 the New York State Department of State (DOS) issued a guidance statement stating that the TPA prohibited a landlord’s agent from collecting a commission from a tenant. The New York State Association of Realtors, and several real estate organizations, challenged the DOS guidance statement and the Supreme Court granted a temporary injunction preventing the DOS from enforcing its guidance statement pending the outcome of the Supreme Court’s decision.
The Supreme Court’s April 9th decision called that DOS guidance statement an “error of law” and prohibited DOS from imposing any discipline on a landlord’s agent for collecting a commission from a tenant. Therefore, landlord’s agents are free to continue to collect brokerage commissions from a tenant without fear of discipline by the DOS. A copy of the decision can be found here.
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LIBOR’s International Residential Real Estate Business Survey Now Available
The 2021 Long Island Board of REALTORS® International Residential Real Estate Business Survey is now available. This important survey is being conducted in collaboration with the National Association of REALTORS®, to gather information about the size and characteristics of transactions with international clients. All are encouraged to respond, even if you've never worked with an International Client.
As a sign of our appreciation, participation in this survey qualifies you to win one of two $50 gift certificates. For more information and to take the survey, click here.
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FREE Member Fair Housing Classes in April, Sign-Up Now!
LIBOR launched a special series of FREE Fair Housing education courses in April, designed for members to celebrate Fair Housing Month. Each course is CE approved for 3 credits and will be held virtually. See the Upcoming Classes list below or click here for more information and to register.
NYSAR will also be offering free Fair Housing Programs in April and May, which are CE-pending or approved for 1 credit. Learn more.
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Travel Abroad Virtually with LIBOR: The Bahamas, Jamaica, and Trinidad & Tobago
Break out your shorts, sandals, and sunglasses! LIBOR is heading to the islands (virtually)! Join us for an overview of the Bahamas, Jamaica, and Trinidad &Tobago. Learn about the housing market, each countries culture, economy, foreign investments, incentives, restrictions and the transaction process from local industry professionals. Register here.
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Applications for 2022 Board Officer - Deadline Approaching
LIBOR’s Credential Review Committee will meet soon to review all candidate applications for the 2022 officer, to be elected by the Board of Directors, and the 2022/2023 director positions to be elected by LIBOR membership, in order to confirm that each candidate meets the minimum criteria set forth in the LIBOR Bylaws and Policy and Procedures Manual.
If you would like to seek election as an officer or director and have the Credential Review Committee review your application, you must complete the respective application form and return it to LIBOR no later than April 30, 2021 for officer positions and August 9, 2021 for director positions. Please visit LIRealtor.com to submit an application.
Seeking REALTOR® Scouting Scholarship Award Applications
LIBOR is now accepting applications for the REALTOR® Scouting Scholarship Award applications. Through the scholarship program, LIBOR will be awarding up to six $1,000 merit-based Scholarships to three New York Eagle Scouts and three New York Gold Girl Scouts. If you know a Girl or Boy Scout receiving their Gold award or Eagle rank this year, please encourage them to apply here.
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Nominations Now Open for 20 Under 40 Rising Stars in Real Estate Awards
20 LIBOR member real estate professionals, 40 years of age or younger will be chosen for their excellence in the areas of sales, leadership and community involvement and have demonstrated ingenuity, creativity, and leadership in their careers. Candidates represent what the selection committee considers an overall well-rounded REALTOR®.
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Precision Door Service of Long Island
Precision Door Service of Long Island provides an exclusive 15% off garage door services discount to LIBOR members, which includes new garage doors, garage door openers, and garage door repairs. To learn more and schedule your appointment, click here.
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Core Day
Thursday, April 15, 9:00AM – 5:00PM
7.5 Hrs. CE
NEW – The Virtual Agent 2.0
Friday, April 16, 10:00AM – 1:00PM
3 Hrs. CE
Real Myths…Fact or Fiction
Monday, April 19, 9:00AM – 5:00PM
7.5 Hrs. CE
Pricing Strategies for Listings and Listing Presentations
Tuesday, April 20, 9:00AM – 1:00PM
4 Hrs. CE
Real Estate Analytics Using Stratus and Excel Charts
Tuesday, April 20, 2:00PM – 4:00PM
2 Hrs. CE
FREE FH - Human Rights and Fair Housing
Wednesday, April 21, 10:00AM – 1:00PM
3 Hrs. CE
OneKey™ MLS and Stratus Changes
Wednesday, April 21, 10:00AM – 12:00PM
2 Hrs. CE
FREE FH - Human Rights and Fair Housing
Wednesday, April 21, 2:00PM – 5:00PM
3 Hrs. CE
All About Leases
Thursday, April 22, 9:00AM – 5:00PM
7.5 Hrs. CE
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Real Estate Market
Mortgage rates finally stopped their upward climb — at least temporarily. Here's what it means for the housing market.
Business Tips
One of the most important skills sales professionals need to possess is the ability to be a powerful presenter. Here is a list of a few things that every great presenter should know.
Home Improvement
These ideas will make you want to work overtime to transform that cluttered closet into a bona fide home office fit for a boss.
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On Wednesday of last week, LIBOR Government Affairs staff and membership met with newly elected Councilwoman Selvena Brooks-Powers. Here are some key takeaways from our meeting:
- Our office was able to congratulate the Councilmember on winning her seat in the 31st district special election. We also established the foundation for a relationship with her office that we look forward to continuing.
- Government Affairs discussed Intro #822, an existing co-op transparency bill proposed in city. Councilmember agreed with the need for transparency and will look into the details of this bill.
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NAR’s 2021 Legislative Meetings REGISTRATION
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Registration Still Open for NYSAR Virtual Lobby Day
Join your fellow REALTORS® from across the state virtually to advocate for important NYSAR legislative priorities on Tuesday, April 27. The first 300 members who register will receive a Lobby Day package in the mail from NYSAR.
State Legislature Passes $212 Billion State Budget
On April 7, the state Legislature passed a $212 billion state budget, reflecting an $18 billion increase over last year. The budget raises taxes by about $4 billion on high income earners and corporations in New York, increasing personal income tax rates for individuals earning more than $1 million per year and joint filers making more than $2 million, and increasing the corporate franchise tax rate for the next three years. This year’s budget also includes nearly $3 billion in combined federal and state funding for rent and homeowner relief. One measure that was not included in the budget was a proposal that would have created a new pied-a-terre property tax on second homes in New York City valued at over $5 million. NYSAR, along with other interested groups, opposed this measure. For further details on measures in the state budget, click here.
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Suffolk County-Wide Meeting
Date: April 19, 2021
Time: 9:30 AM
Location: Zoom
Special Guest: G. William James
Join the Suffolk County Chapters for "Google My Business, Ads & SEO" with Celebrated Google Expert, G. William James!
Nassau Tri-Chapter Meeting
Date: April 20, 2021
Time: 10:00 AM
Get all the important updates on Legal, Fair Housing, COVID Phase 2 - State of Emergency, Reasonable Accommodation Modifications, Commission Moratoriums on Rentals, and so much more!
Women’s Council of REALTORS®
Date: April 22, 2021
Time: 10:00 AM
"Home Styling for Selling and Dwelling" with Luisa Rizzo of Design Remix, Inc.!
The Commercial Network
Date: April 27, 20201
Time: 8:00 AM
Special Guest: TBA
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