On December 21, 2021 Gov Hochul signed significant changes to regulations covering the real estate industry. Many of the changes addressed fair housing with significant changes to how real estate licensees, salespersons, associate brokers and brokers conduct business across New York. While the original legislation included an effective date of July 1, 2022 some of the changes will require significant work on the part of the Division of Licensing Services, course providers, and brokers. The new dates address the need for additional time to implement the new regulations. New implementation dates are:
Adding 2 Hours of implicit bias education for licensees within the 22.5 hours required CE: September 21, 2022
Adding 2 Hours of Cultural Competency education for licensees within the 22.5 hours required CE: September 21, 2022
Requiring brokerages to institute standard operating procedures and submit them to the DOS and post on websites, mobile apps and in offices: April 20, 2022 (Maybe extended for the regulatory process)
Increasing pre-licensing broker and salesperson course hour requirements to 152 hours and 77 hours respectively. Increases the time focused on fair housing from 4 hours to 6 hours: December 21, 2022.
Adding $40 surcharge to broker fees and $10 to salesperson fee: Implemented January 20, 2022
Increasing the maximum fine for real estate license violations from $1,000 to $2,000 with new funds dedicated to anti-discrimination in housing fund: Implemented January 20, 2022
Requiring two years’ experience as an associate broker before designation as an office manager; establishes a standard of supervision of salespersons and associate brokers by office managers equivalent to licensed broker: Now in Effect