Date: 11/23/16

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Date: 11/18/16

NY AGENCY REQUIREMENT

NY AGENCY REQUIREMENT

Date: 11/18/16

Questions & Answers about The National Association of REALTORS® (NAR) Quadrennial Ethics Requirement:

Questions & Answers about The National Association of REALTORS® (NAR) Quadrennial Ethics Requirement:

 

The current quadrennial time frame is:

January 1, 2013 through December 31, 2016.

 

Q:     Who must take the code of ethics course?

A:        The National Association of REALTORS® mandates that every REALTOR take an Ethics class once every four years (called a quadrennial). The only exception are those members who applied and were approved for Emeritus status. If you’re uncertain whether you have Emeritus status, please contact NAR at 1-800-874-6500.

 

Q:     If I’m Grandfathered and don’t have to take continuing education, do I have to take an ethics course?

A:        Yes, NAR still requires you to take an ethics course.

 

Q:     Do referral agents have to take an ethics course?

A:        If you are acting only as a referral agent and not selling or listing homes then ‘no’ you do not have to take ethics.

 

Q:     Do Appraisers have to take an ethics course?

A:        If your status is ‘REALTOR®’ then ‘yes’ you need to take the ethics class. The USPAP class does not meet NAR’s requirements.

 

Q:     Do Attorneys have to take an ethics course?

A:        If you have a ‘REALTOR®’ status then ‘yes’ you must take the class even though you are exempt from continuing education.

 

Q:     How do I find out if GCAR has my ethics completion certificate?

A:        Go to GCAR.com and log into IMS Services. Under ‘Personal Services,’ click on: ‘Your Education History,’ then click on ‘Personal Education Tracking.’ The last line under the completed column will have a date if GCAR has your certificate, if not the field will be blank.

 

Q:     If GCAR doesn’t have my ethics certificate, but I took it, what do I do?

A:        Fax your ethics certificate to GCAR: 518-464-0196. We will update the system and report to NAR your completion status.

 

Q:     I need to take an ethics class, what do I do?

A:        Take an upcoming class through GCAR- Click here to sign up – see classes below:

 

Q:     What happens if I don’t take a code of Ethics course by December 31, 2016?

A:        NAR requires that we suspend members from all services until they have fulfilled the requirement.

 

Q:     I’ve completed my ethics requirement for this quadrennial, when do I have to take the class again?

A:        NAR changed the requirement starting January, 2017 mandating that one code of ethics class is required once every TWO years. Therefore, you’ll have to complete a class in 2017 or 2018.

 

Q:     I have questions for NAR, how do I get in touch with them?

A:        Call: 1-800-874-6500.

Date: 11/1/16

How to become a Real Estate Salesperson

GCAR’s Real Estate Professional Institute

How to become a Real Estate Salesperson:

In order to qualify for licensure as a real estate salesperson, an applicant must have satisfactorily completed a 75-hour salesperson qualifying education course in real estate approved by the Secretary of State, and have passed a qualifying examination administered by the Department of State.

The Greater Capital Association of REALTOR’S® school: The Real Estate Professional Institute, offers the 75- hour required salesperson licensing class which starts people on the career path of becoming a licensed REALTOR® in New York State.

75- Hour Salesperson Licensing Course:

Course fee is due at time of registration:

$400 (includes textbook)

A licensing candidate may take the course final examination only upon satisfactory completion of the attendance requirements: students must be in attendance for 90% of the course. Any student absent for more than 7.5 hours will not be eligible to sit for the final exam. An exam score of 70% must be achieved in order to successfully complete the course. A make up exam is available in the event the course exam is not passed. Successful completion of both attendance and exam requirements entitles the licensing candidate to sit for the New York State licensing examination.

Registration Information:

Download the brochure with schedule and registration form: click here. Mail or fax the registration form and payment to GCAR/Real Estate Professional Institute. If you are unable to download the registration form, please contact the education department at (518-464-0191 x15) or disom@gcar.com to have a brochure mailed to you.

You can also register in person at the GCAR office at 451 New Karner Road, Albany, NY 12205 Monday thru Friday between 9:00am and 4:00pm.

Salesperson’s Course Topics:

  • License Law & Regulations

  • The Law of Agency

  • Legal Issues

  • The Contract of Sales and Leases

  • Real Estate Finance

  • Land Use Regulations

  • Construction and Environmental Issues

  • Valuation Process and Pricing Properties

  • Human Rights and Fair Housing

  • Real Estate Mathematics

  • Municipal Agencies

  • Property Insurance

  • Taxes and Assessments

  • Condominiums and Cooperatives

  • Commercial and Investment Properties

  • Income Tax Issues in Real Estate Transactions

  • Mortgage Brokerage

  • Property Management

    NYS Requirements for Licensing as a SALESPERSON are:

  • Be at least 18 years of age

  • Be a United States citizen or be a legal, permanent resident

  • Have no felony convictions (contact NY Department of State for clarification)

  • Complete the 75-hour licensing course (and pass the final course exam)

  • Pass the NY Department of State Salesperson licensing exam ($15)

  • Have a sponsoring New York State Broker (you do NOT need a sponsoring broker to take the 75 Hour Course or the exams. See FAQs below)

  • Apply for a Salesperson license ($50 for two years)

As of July 1, 2008, the Salesperson and Broker’s requirements have changed. Click here for more information.

If you have any questions in regards to the Salesperson Course, please contact Debbie at (518) 464-0191 x15 or disom@gcar.com

GCAR also offers this class online, click here for details

To contact the New York State Department of State with licensing questions, call 518-474-4429.

Frequently Asked Questions:

What happens if I take the course but am not ready to apply for my license? Your 75 hour course completion certificate is good for eight years. If you are not ready to apply for your license at the end of the course, you must hold on to your certificates until you are ready. Remember the NYS exam results are good for two years.

I had a license many years ago but let it lapse. Do I have to go through the licensing procedure again? If you took the 45 hour licensing course before July 1, 2008, this certificate is still valid. If your license expired more than two years ago, you will have to take the NYS exam again before you can renew your license. If your license expired less than two years ago, you only need to compete the 22 1/2 hours of continuing education before you renew your license. In either case, your broker must sign the renewal form.

If I miss a portion of the Qualifying Course what happens? According to the New York Department of State, you must complete 90% of the class time in order to pass the course. In other words, if you miss more than 7.5 hours of the entire class, you will automatically fail.

Who needs a license? According to Article 12-A of the Real Property Law,“anyone who negotiates any form of real estate transaction for another and for compensation of any kind in the State of New York” needs a license.

What is the difference between a broker and a salesperson? A broker is the owner or corporate officer of the firm. The broker sponsors, trains, and supervises all the real estate activities of the agents for which he/she is responsible. A salesperson works for and under the direction of the sponsoring broker.

Do I need a sponsoring broker to take the course? No, many people take the course for personal reasons and have no intention of getting a license. You also do not need a sponsoring broker to take the State exam. You do need a sponsoring broker at time of license application.

For more FAQ’s on licensing click here