Recent Legislation revising the Real Estate Property Law with regard to the continuing education requirements for real estate salespersons and brokers was recently adopted. Below is a summary of the major changes:
- The amendment changes the course requirements for renewal. Specifically, new mandatory hours of education now include: “at least 2.5 hours of instruction pertaining to ethical business practices, at least 1 hour of instruction pertaining to recent legal matters governing the practice of real estate brokers and salespersons in New York which may include statutes, laws, regulations, rules, codes, department of state opinions and decisions, and court decisions”.
- The amendment also REMOVES the 15-year real estate broker continuing education exemption and now requires all brokers who are currently exempted to complete continuing education starting July 1, 2021.