Removal of “Grandfathering Clause” for all NYS Real Estate Licensees & Addition of New Required CE Topics for All Licensees.
This bill was signed into law by Governor Cuomo on 10-23-19.
This new law will immediately affect all broker and salesperson license renewals that are DUE ON OR AFTER: 07-01-2021
If your license renewal date is BEFORE 07-01-2021, then these changes will not affect you until the next renewal after that. due AFTER 07-01-2021
Summary of required CE topics for all Broker & Salespersons (new additions are in bold italics) :
22.5 hours of CE must be taken no more than 24 mo. preceding your renewal date which is on or after 7-1-2021. The specific requirements of some of those CE hours are listed below:
OF the TOTAL 22.5 Hours required, the following CE hours/topics must be included:
3 hours of Fair Housing
1 hour Law of Agency
2.5 hours of Business Ethics **(the NAR Code of Ethics taken for CE meets this criteria)
1 hour instruction on NYS real estate legal matters governing the practice of real estate brokers and salespersons which may include statutes, laws, regulations, codes, department of state opinions/decisions/court
cases.**(attending the NYSAR Legal Update and turning in the yellow CE card at their mid-winter or fall meetings accomplishes this requirement)
=’s 7.5 of required CE hours on the above topics/courses
Example: 22.5 CE Hours – 7.5 CE Hours (courses as above) = 15 additional CE hours needed of licensee’s choice. Can be obtained via any course taken which has been NYS approved for Real Estate CE (continuing education) credits.
Please CLICK HERE to read the text of the law Removal of Grandfathering Clause is at the bottom of the bill in red. (Section 2 lines 11-15)