News:
Brokerage
Posted: August 9, 2022
August 2022 message from the president of NYSCAR
The NYSCAR Board of Governors will be meeting on October 1 in Saratoga Springs, and the Nominating Committee will be meeting later this month.
NYSCAR is scheduling some courses for the Fall. On September 28th, a three-hour Exchange Course will be offered, “Creating Wealth Through 1031 Exchanges,” instructed by Russell Gullo, CCIM. The course is free for NYSCAR members ($50.00 for non-members). If you would like to take this course, please email Sherry Marr at [email protected].
Please watch your email for additional courses, including the cultural competency and implicit bias courses required for license renewal.
National Association of RealtorsC5 Summit - 3 Days of Commercial Real Estate Networking, Learning, & Deal-Making
C5 Summit is the ultimate commercial real estate event where attendees quickly connect with other leaders, stakeholders, and potential partners; engage in productive commerce and source capital; and, help redefine what community means through the partnerships they forge.
Network with influential leaders, build relationships with key decision-makers, learn about the latest trends, and start negotiating deals all at one centralized event. August 15-17, 2022. Registration is now open. Please visit https://registration.experientevent.com/ShowNAR224 for more information.
New York State Association of Realtors – DOS moves to implement CE changes
On July 20, the Department of State (DOS) published proposed rule-making updates to implement recent changes in education standards for real estate licensees, which were signed into law by gov. Kathy Hochul last December. Under the new law, licensees are required to take two hours of implicit bias and two hours of cultural competency education within the existing 22.5 hours of required continued education. Additionally, salespersons are required to take two additional hours of pre-licensing education in fair housing; and brokers are required to take an additional 32 hours of pre-licensing education of which 10 hours are devoted to fair housing. The DOS will be holding one public hearing on September 21 at 11:00 a.m. at 123 William St., Second Floor, New York. In addition, public comment on the new regulations will be accepted until September 26, 2022.
Legal Update course information
The one-hour Legal Update course, which is approved for continuing education (CE) credit on recent legal matters, will be held once a month and is instructed by an attorney. This is a course that you will be eligible to take one time in your license cycle as a NYS Association of Realtors member. The 2022 Legal Update course dates are:
- August 16,
- September 20,
- October 26,
- November 21, and
- December 12.
For more information, please visit https://nysar.us12.list-manage.com/track/click?u=890c3acd093da51fc947b4b1c&id=ee24e39713&e=b3b9c5e374.
Dana Crocker is the president of NYSCAR and a licensed associate broker at Hunt Commercial Real Estate, Liverpool, N.Y.
Tags:
Brokerage
MORE FROM Brokerage
REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium
Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced