NYSCAR-backed candidates win elections, changes to N.Y.C. COPA Bill, NAR launches new online resource

Realtor-backed candidates win elections; Democrats sweep statewide elections in NY and secure veto-proof majorities in State Legislature
This year’s November 3 General Election produced widespread victories for Democrats across New York State and the nation. In New York, Democrats swept statewide elections for governor, attorney general and comptroller, regained a two-thirds supermajority in the State Senate, and expanded the existing two-thirds supermajority in the State Assembly. New York’s Congressional delegation will likely now consist of 20 Democrats and six Republicans, a net gain of one seat for House Democrats. Nationally, Democrats in the U.S. Senate and House of Representatives will decide who will be the next Senate majority leader and speaker of the House. Likely candidates for these leadership positions include current Senate minority leader Chuck Schumer and House minority leader Hakeem Jeffries, both from New York. NYSAR was successful in its efforts to support pro-Realtor state lawmakers and candidates through RPAC and NYSAR’s Independent Expenditure committee (New York State Association of Realtors Fund). Following this election, NYSAR staff will be reaching out to all newly elected state lawmakers to familiarize them and their staff with our association and Realtor priorities.

NYSAR Lobbying Results in Significant Changes to New York City COPA Bill
After more than six years of opposition and lobbying efforts by NYSAR (and other real estate trade groups), which included meetings with City Council members, submitting written testimony, and launching multiple Calls for Action, the New York City Council passed the Community Opportunity Purchase Act (COPA). COPA will grant a first right of refusal to non-profit groups in New York City, requiring property owners to provide these entities with the opportunity to purchase a distressed multifamily building prior to publicly listing it for sale. Mayor Mamdani is expected to sign the bill into law. Realtors lobbying efforts contributed to the final bill being much different and far less expansive than the original bill. Changes to the bill include:

The original bill would have applied to nearly all of New York City’s multifamily buildings with three or more units. The bill that passed applies to a subset of properties deemed financially or physically distressed by the Department of Housing Preservation and Development (HPD), which are estimated to amount to less than 1% of the multifamily buildings that were sold in 2025. This final bill exempts owner-occupied buildings with five or fewer units, and all properties with fewer than four units.

The final bill has shorter timelines than the original bill. The final bill includes a maximum delay in the sale of the property of 145 days. The original bill would have required the property owner to notify HPD at least 180 days prior to taking an action that would result in a sale of the property, such as listing it.

An amendment to the bill exempts larger properties (more than 100 units) that are subject to affordability restrictions, such as 421-a or 485-x.

Another amendment limits HPD’s ability to extend the timeline for a first offer of purchase by no more than 5 days, rather than an indefinite extension. 

NAR Launches New Online Resource to Help Realtors Prevent, Detect,  and Report Real Estate Fraud
The National Association of Realtors launched “Protecting Your Clients and Your Business From Fraud,” a new online resource that provides information that helps members prevent, detect, and report potential real estate fraud of all kinds. The resource is designed to help members get to their next transaction with more confidence. Real estate fraud is increasing, and AI makes voice cloning and impersonations more convincing. According to the FBI, individuals lost $275 million to real estate fraud in 2025.

Fraud can happen at any stage of a real estate transaction. That’s why the resource is designed for busy agents and brokers to use throughout a real estate transaction. The first section focuses on prevention, recognizing that the most effective way to combat fraud is to stop it before it occurs. The section on detecting fraud identifies red flags that members should be alert to throughout the lifecycle of a transaction, including before a listing, during a transaction, when closing, and after closing. The report section features the steps members should take once they have identified fraud.

“Fraud is a major issue and challenge within the real estate industry. It is important that real estate agents and brokers understand how to protect themselves and their clients,” said Nia Duggins, NAR’s senior policy representative of business issues. “This new resource is just the latest example of NAR working to ensure that members are educated, equipped and empowered to avoid, prevent, and mitigate real estate fraud.”

The resource covers a wide range of fraud threats and includes basic cyber-hygiene practices to help better protect agents’ transactions, including multifactor authentication and password managers. For brokerages, it offers guidance on creating written fraud-response procedures, training agents and staff, and educating clients about scams.

“Real estate transactions are attractive targets for fraud because they involve large sums of money, tight deadlines, multiple parties, and extensive electronic communications,” said Austin Perez, NAR’s senior policy representative. “Most consumers only buy or sell a home a few times in their lives, while real estate professionals navigate transactions every day. That experience puts real estate professionals in a unique position to help clients recognize red flags, slow down, verify information, and avoid common fraud schemes.”

NAR will continue to update the resource to cover the latest types of fraud. The resource is available at nar.realtor/fraud.

The National Association of Realtors is involved in all aspects of residential and commercial real estate. The term Realtor is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes—from written buyer agreements to negotiating compensation—visit facts.realtor.