Appraisal News You Don’t Want to Miss!
Effective April 1, 2022, Fannie Mae now requires all appraisals of a Fannie Mae property to be completed using the ANSI standard for measuring Gross Living Area (GLA) and non-GLA. This is only applicable to Fannie Mae and no other lenders. Before the effective date, the ANSI standard was not utilized regularly by appraisers in New York. As a result of the new requirement, appraisals utilizing the ANSI standard may differ from prior appraisals, including square footage and the number of rooms. Learn more.
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Standard Operating Procedures Law Compliance Required by April 20, 2022
Recently, a number of laws have been passed in New York State pertaining to fair housing and these laws have a significant impact on real estate licensees. One of these laws requires real estate brokers who service residential homebuyers to create and publish “Standardized Operating Procedures” (the “SOP Law”) for their brokerage offices so that prospective homebuyers understand what will be required from them when working with a real estate broker. To view FAQ's regarding the SOP law, click HERE.
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Happening Tomorrow! Travel Abroad Virtually with LIBOR – Thailand
Join LIBOR's Global Committee for the next installment of "Travel Abroad Virtually with LIBOR" on April 21 at 9:00 am. Learn all about the Thai real estate market from our friends at Real Estate Sales and Marketing Association (RESAM) in Thailand. Register HERE.
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We Need More Mentors!
LIBOR has teamed up with NAR to help our neighbors find a future in Real Estate and provide inspiring mentors to help make that dream a reality. The NAR Spire 2022 Mentorship Program is a groundbreaking new initiative created to drive inclusivity in the real estate industry through mentorship and education. Get inspired by becoming a mentor HERE.
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April Marks Fair Housing Month
In honor of Fair Housing Month, LIBOR is offering three Fair Housing seminars with National Trainer Matt Difanis! Free for our members and approved for 3 hours of NYS CE, (also satisfies mandatory DOS 3-hour Fair Housing requirement). Register HERE. Also, stay tuned throughout the month for all things Fair Housing including valuable information, educational resources and more!
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2022 LIBOR International Residential RE Business Survey
LIBOR is proud to be offering the 2022 International Residential Real Estate Business Survey in collaboration with the National Association of REALTORS® (NAR). This important survey gathers information about the size and characteristics of transactions with international clients. The results are used by members, the media, and government and statistical groups. As a sign of our appreciation, participation in this survey qualifies you to win one of two $50 Amazon gift cards. Complete the survey HERE.
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Apply Now for a 2023 LIBOR Committee
Volunteering for Committees provides you an outlet to share your ideas and experiences, gives you an opportunity to network with industry professionals and can be an important part of your success! Complete the online application by May 27th to be considered for a 2023 committee appointment.
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Seeking YPN's 20 Under 40 Rising Stars in Real Estate Award Nominations
Are you a rising star in real estate? Are you a young professional who stands out from the crowd? Apply for LIBOR's 20 Under 40 Rising Stars in Real Estate Awards today. The application deadline is May 1, 2022. Learn more, and nominate yourself or a fellow REALTOR®, HERE.
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LIBOR Calls on REALTORS® Who Give Back for the 2022 REALTOR® Spirit Award
LIBOR is now accepting nominations for the 2022 REALTOR® Spirit Award, which recognizes REALTORS® who’ve made an extraordinary impact through volunteer community service. One winner will each receive a $5,000 grant for their community cause. Apply now or share with a REALTOR® that gives back to their community, HERE.
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Save With Avis and Budget
Members can enjoy savings of up to 30% off base rates through April 30, with Budget or Avis, plus great offers like a free upgrade, save on monthly rentals, and so much more. Learn more.
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Legal Update
Thursday, Apr 21, 1:00PM - 2:00PM
1 Hr. CE
Working With Seller's Price Properties Using Stratus CMA, Maps, & Public Record
Thursday, Apr 21, 10:00AM - 1:00PM
3 Hrs. CE
Fair Housing, Implicit Bias & Inclusion
Friday, Apr 22, 10:00AM - 1:00PM
3 Hrs. CE
Small Investment Properties
Monday, Apr 25, 9:00AM - 5:00PM
7.5 Hrs. CE
RPR Essentials: Desktop and Mobile
Monday, Apr 25, 2:00PM - 4:00PM
2 Hrs. CE
Collab Essentials: Desktop and Mobile
Tusday, Apr 26, 2:00PM - 4:00PM
2 Hrs. CE
NY Legal Update
In Person Class West Babylon RSC
Wednesday, Apr 27, 2:00PM - 3:00PM
1 Hr. CE
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Buying Tips
Competition is growing more intense heading into the spring season’s busy buying market. Real estate professionals recently discussed how their buyers are getting their offers on a home to stand out, besides increasing the amount they’re willing to pay.
Home Improvement
Kick spring cleaning into high gear, and troubleshoot cooling and irrigation systems for the warmer months ahead.
Mindfulness
Things at your job can still feel normal when the world and life events have you overwhelmed.
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Suffolk's IR 1135 Passed
On April 12th the Suffolk County Legislature unanimously passed IR.1135 Local law amending section A18-3 of the Suffolk County Administrative Code regarding fees for instruments presented for recording or filing to the County Clerk. In 2019, mortgage recording fees decreased from $300 to $200 per parcel temporarily, and was set to expire later this year. Suffolk Legislator Manuel Esteban (R- Dix Hills) introduced the later passed resolution making the $200 permanent. LIBOR gave testimony supporting the bill during the public hearing, as well a letter to each Legislator and to the County Executive’s office. For more information on the bill including text click HERE. The bill is expected to be signed by the County Executive in the coming days.
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NYSAR Lobby Day
NYSAR’s in-person Lobby Day is scheduled for Tuesday, May 10, 2022 at the Empire State Plaza, Meeting room 6 in Albany. RPAC of New York will also be hosting a “Night at the Museum and Dinner" at the Renaissance Hotel, scheduled for Monday, May 9 at 4 p.m. with dinner at 6:30 p.m. To register for Lobby Day and the RPAC fundraiser, click HERE. For complete details on NYSAR’s Lobby Day including hotel room blocks, click HERE.
IMPORTANT TO NOTE FOR ALL ATTENDEES: In order to enter the Capitol Building and Legislative Office building you MUST be able to provide proof of vaccination status. CLICK HERE for more guidance on New York States COVID-19 protocols.
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NYC Rent Guidelines Board Report Recommends Up to 9% Rent Increase on Two-Year Leases
The latest New York City Rent Guidelines Board report recommends rent increases of up to 4.5 percent for one-year leases and up to 9 percent for two-year leases on the city’s rent-regulated apartments in order to keep up with rising landlord costs. The board report found owners of rent-regulated apartments saw their operating costs rise by 4.2 percent over the last year. The Rent Guidelines Board will hold a series of meetings and hearings before any final recommendation on possible rent increases with a final vote due in June. Learn more.
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Lt. Governor Brian Benjamin Resigns After Arrest on Bribery Charges
New York Lieutenant Governor Brian Benjamin resigned on Tuesday following his arrest on several charges, including bribery. Benjamin was appointed Lieutenant Governor in September. Learn more.
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