“The top driver of our affordability crisis is the rising cost of rent and mortgages, and New Yorkers need our help.”
Incoming HGAR President Sejdi is an Associate Broker with HomeSmart Homes & Estates in White Plains. She served as President-Elect in 2024, Secretary in 2023, and Regional Director for Westchester County in 2022.
Rates at 6% are the new normal, and from a historical perspective they’re completely fine, especially given the strength of the economy and inflation adjusted wage gains over the past few years.
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
OneKey has established that effective Aug. 8, 2024, they will no longer display any offers of cooperating compensation to any cooperating brokers.
A significant portion of our end-of-session efforts was focused on opposing legislative proposals that would have negatively impacted New York’s real estate sector.
It is important for an attorney to inform the seller the Property Condition Disclosure Statement does not require a seller to make any independent investigations relating to the subject matter contained in each of the questions contained therein.
NAR had several topics it wanted HGAR and the rest of the Realtor community on the Hill that day to hammer home.
This dispute could have far-reaching implications beyond the real estate industry, as the split-decision ruling from the Circuit Court conflicts with the existing precedent of both the D.C. Circuit Court and the U.S. Supreme Court.
A noteworthy legislative amendment was the exclusion of “squatters” from the definition of “tenant” under the current tenancy laws.
It is important to note that while the new Good Cause Eviction Law went into effect in New York City immediately, other municipalities throughout New York State will need to opt-in by enacting this legislation if they so choose.
At the recent May 1, 2024, HGAR Board of Directors meeting, the Board voted on two association matters relating to the filing of arbitrations and administration of ethics complaints.
In the weeks leading up to heavy negotiations in Albany, HGAR personally educated more than two dozen elected officials on Good Cause Eviction and the most problematic aspects of valuing tenant protection over property rights.
The most common entities that run the risk of losing the limited liability protection are small, closely held corporations and LLCs made up of family members or a small number of shareholders and members.
New York has gone to great lengths to ensure that consumers are treated fairly. All licensees are now tasked with ensuring all members of the public are treated with equity to ensure that steering and all other forms of discrimination are rooted out and eliminated.
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