June 2020 message from the president of NYSCAR - by James Walker

It’s hard to imagine that we are almost half way through the year. I know we are all looking forward to getting back to work soon in a safe way during this very challenging time. I am appreciative of the front-line workers who are working around the clock for all of us. Our hearts and prayers go out to the victims of COVID-19 and their families.

As part of the new normal, I’ve participated in many Zoom meetings with leadership from around the state and the NYSCAR Board of Governors will also be meeting virtually in June. I hope you were able to take advantage of the National Association of Realtors legislative meetings that were held virtually a few weeks ago. A record 28,000 members registered for the event. (Please go to NAR.Realtor for conference sessions)

$100 million New York Forward Loan Fund to Help Small Businesses

Amid the ongoing COVID-19 pandemic, governor Andrew Cuomo announced the launch of the $100 million New York Forward Loan Fund to provide flexible and affordable loans to help small businesses, focusing on minority and women owned small businesses, that did not receive federal COVID-19 assistance. The state will take a smart, targeted approach for distributing these loans, focusing on businesses with 20 or fewer employees and less than $3 million in gross revenues. Businesses interested in receiving a loan should visit esd.ny.gov/nyforwardloans.
To read more, please CLICK HERE

NYS Association of Realtors New Fair Housing Regulation Effective June 20^th, 2020

A new fair housing regulation and an amendment to the advertising regulations have been approved and adopted by the Department of State. The final Notice of Adoption and final text will be published in the New York State Register. Below, please find a description of the regulations and the effective date. The new Fair Housing regulation addresses three items: Fair Housing Disclosure Form, Fair Housing Notice and the video and audio recording of all Fair Housing continuing education classes.
A copy of the regulation can be found at CLICK HERE

Fair Housing Disclosure Form

The new regulation 19 NYCRR 175.28 requires every licensee to provide the Fair Housing Disclosure Form to every prospective purchaser, tenant, seller or landlord (for all types of transactions: residential, commercial, vacant land, new construction etc.) at first substantive contact (the same as the agency disclosure form).
A copy of the Fair Housing Disclosure Form can be found at CLICK HERE

Fair Housing Notice

The new regulation 19 NYCRR 175.29 requires every broker’s office and branch office to post the Fair Housing Notice in the window of each broker’s office if other postings of any type are also on the window and if visible to persons on the adjacent sidewalk. If the broker’s office is unable to post in the window, the notice shall be prominently posted in the same location the business license is posted.
A copy of the Fair Housing Notice for posting can be found at CLICK HERE

Recording of Fair Housing continuation education classes

19 NYCRR 177.9 requires the audio and video recording of every continuing education class approved for “fair housing and/or discrimination in the sale or rental of real property or an interest in real property.”

Advertising Regulation Effective November 2^nd, 2020

The amendment to the advertising regulation, 19 NYCRR 175.25(d)(3)&(6), requires every broker (and associated licensees) that advertises the exclusive listing of another broker to clearly and conspicuously display the name of the listing broker preceded by one of seven permitted phrases. This would apply to any licensee displaying an IDX feed on their website. It will apply to both the grid or list view and the webpage that displays the listing. It is also applicable to paid advertisements through third parties.

The amended regulation also requires any licensee that pays a third party to place their advertisement when displaying another brokers exclusive listing, must have words to disclose that it is a paid advertisement including the word “advertisement” immediately following the name of the licensee.

A copy of the amended advertising regulation can be found at CLICK HERE

Please stay safe.

James Walker, CCIM, is the 2020 president of NYSCAR, Albany, N.Y.