PROFESSIONAL INSTITUTE FOR REAL ESTATE TRAINING (PIRT)

July 2008 Newsletter

Happy July and the 4^th!

I hope you are all enjoying the wonderful weather and taking advantage of it to make lots of $$ and sales!

I’ve been tearing my hair out with the DOS and the July 1 changes! Finally, it has come and gone and we are getting ready to get the classes in gear.

This is a synopsis of the changes ‘borrowed’ from the NYSAR newsletter for those of you who haven’t read it!

A brief outline of the laws is set forth below:

· For all individuals wishing to become a licensed salesperson, the real estate qualifying course requirement has increased from 45 hours to 75 hours.

· Any salesperson who has previously taken the 45-hour course and wishes to become a broker must take an additional 30 hours of training set forth by the Department of State. This will bring the salesperson to a total of 75 hours of salesperson training as required under the new law. They must also complete the 45-hour broker qualifying course, giving them a total of 120 hours of approved instruction.

· In order for a licensed salesperson to apply for a broker’s license, the salesperson must wait two years from the date of initial licensure instead of one.

· Those salespersons applying for licensing as a broker may use the initial salesperson course if the application is within eight years of taking the course, rather than four years.

· Branch offices of any brokerage must be under the direct supervision of the licensed broker, a representative broker of the entity holding the license or by an office manager who is an associate broker. Salespersons can no longer act as an office manager.

· Computer-based and distance learning qualifying courses are now permitted if approved by the Department of State, but require a proctored final exam.

· All pocket cards issued by the Department of State to licensees will now have a photograph of the licensee.

· Any individual obtaining a broker’s license from this point forward who is engaged full time in the real estate business and who has been licensed for at least 15 consecutive years will no longer be eligible for the CE exemption.

· Any real estate licensee who renews their license from now on will be required to complete 22.5 hours of continuing education, three hours of which must include approved fair housing/discrimination education. Any licensee who has already completed their 22.5 hours that did not contain at least three hours of approved fair housing will be required to complete the additional education prior to renewal.

Please visit the Department of State website for complete details. Click here to view their Frequently Asked Questions.

Real estate advertising guidelines

In June 1994, the New York State Department of State (DOS) Division of Licensing Services adopted the Real Estate Advertising Guidelines. This document helps guide real estate brokers and salespeople as they place mass media advertisements.

I have had a lot of people inquiring about the Remedial Course – at this time we are still awaiting textbooks and information from the publishers. As soon as it is available, I will be posting it on www.pirtonline.com We will also be getting approvals for the Remedial course to be offered ONLINE! There is an examination that will have to be taken, but the course can be done ONLINE.

Costs?? Unknown at this time.

I have a Salespersons Qualifying Course (the 75 hour course) scheduled for the following dates:

September 18, 19, 20, October 2, 3, 4, 16, 17 and 18 2008

Times – 9:00 a.m. until 5:00 p.m.

The location will be the Days Inn, 110 Commerce Park Drive, Watertown.

The course cost will be $425.00 – the book will be included with the course cost.