By Sydney Roy, Marketing Advisor @Manfredschool
Continuing Education is Required to Renew Your License
Every two years, real estate salespeople and brokers are required to complete 22.5 hours of approved continuing education including at least 3 hours covering the topics of fair housing and/or discrimination and one hour of Law of Agency (two hours if it is the licensee’s first licensing cycle). Beginning July 1, 2021 the Department of State will require that your 22.5 hours of continuing education will also include 2.5 hours of ethical business practices and at least 1 hour of recent legal matters governing the practice of real estate brokers and salespersons in New York.
Also notable is that the Department of State will no longer recognize the 15-year real estate broker continuing education exemption. Beginning July 1st, 2021 all brokers who are currently exempt will be required to complete continuing education. The new requirements are...
The mortgage industry continues to change annually. There are increased requirements for protecting the consumer, complying with time requirements, and increased disclosures. A seasoned MLO has witnesses these many changes and has likely come to expect new regulations and requirements flowing from the regulatory agencies on a regular basis. Experienced MLOs have learned to be well-prepared MLOs to confidently abide by new regulations and guidelines.
Staying complaint with updated and new mortgage laws is essential to remaining a well-prepared MLO. As processes become more streamlined, regulated, and protective of consumer safety, it is up to the mortgage loan originator to prepare for these changes and confidently adapt when they are implemented. Mortgage loan originators should set lifetime career goals to become highly skilled and accomplished in the mortgage field.
The most important aspect of the MLOs performance is to protect the consumer from any type of harm that could occur...
Real Estate Salesperson and Brokers: All NYS licensees are required to successfully complete 22.5 hours of approved continuing education, including at least 3 hours of instruction pertaining to fair housing and/or discrimination, 1 hour of instruction pertaining to Law of Agency, two hours if it is your first licensing cycle. within the two-year period immediately preceding a renewal.
NEW LAW AS OF JULY 1, 2021:
A new law regarding continuing education for real estate salespersons and brokers was recently adopted. Below is a summary of the major changes.