GSAR Broker Report - GSAR annual census must be returned by Oct. 3

Inside this issue: Return Census by Oct. 3 • Pay MLS dues by Oct. 3 • Broker attribution solution coming soon • Sign up for Broker Involvement Program and more

Business Intel

GSAR annual census must be returned by Oct. 3

The deadline to complete the GSAR annual census was Sept. 15. Completing the census is an annual requirement for brokers under the GSAR bylaws. Failure to meet the Oct. 3 deadline will result in the termination of services. Email compliance@cnyrealtor.com with questions.

Pay overdue MLS fees before Oct. 3 to avoid service shut off

CNYIS MLS dues were payable by Sept. 15. Anyone who did not pay by that date was charged a late fee of $30. Both the dues and late fee must be paid by Oct. 3 to avoid having their service shut off on Oct. 4. There will be a fee of $75 to reinstate your membership after that date. Office access will be shut off on Oct. 18 if dues are not paid. Dues may be paid via your member portal.

Don't miss the Parade of Homes REALTOR® Day on Oct. 14

The annual Parade of Homes will take place at Old Town Estates, 4916 Horizon Terrace in Syracuse from Oct. 13 to 23. REALTOR® Morning, sponsored by Solvay Bank, will be on Oct. 14. All REALTORS® are welcome and a NYS real estate licensee ID card will be required to enter. Registration is required for the breakfast only. The first 250 to register will receive a voucher for a free breakfast.

National Flood Insurance Program expiring Sept. 30

The National Flood Insurance Program’s (NFIP) authority to provide flood insurance is currently set to expire at midnight on Friday, Sept. 30. The National Association of REALTORS® is urging Congress to approve a long-term extension within a broader spending package currently being negotiated. NAR is providing guidance on what this means for upcoming closings and several proactive steps your clients can take.

Missouri class action notifications to be distributed

As noted by NAR in June, class action attorneys will soon begin to notify members of the class in the Sitzer/Burnett class action lawsuit in Missouri. Notices are typically distributed through a range of communications, including emails and paid advertisements, and for this case are expected to begin on Sept. 28.

The plaintiffs in this class action lawsuit are raising questions about how broker compensation is paid. Although the judge granted class certification in the case in April, in no way does that reflect on the actual or perceived merits of the plaintiffs’ claims. The ruling was procedural in what is yet to be a lengthy process and now allows others who have allegedly been affected to join the litigation as plaintiffs. As is common and expected, class action attorneys now begin to notify members of the class of their right to opt out, even before the validity of the case has been decided.

The message of the notices is: The Sitzer/Burnett v. NAR lawsuit may have an impact on the rights of anyone who recently sold a home in or near Missouri using a real estate agent and paid compensation to the buyer’s representative. The targets of these notices will be anyone who sold a home after April 29, 2014, via the MLSs in Columbia, Mo., Kansas City, Mo., Springfield, Mo., or St. Louis (and after April 29, 2015, in Kansas City, Kan., or in Illinois near St. Louis).

Should you or your agents receive questions from consumers about broker services and commissions, NAR has created a simple consumer website specific to these class action cases: r ealestatecommissionfacts.com.

The question in the case of Sitzer/Burnett v. NAR is why brokers representing home sellers often pay the compensation of brokers representing home buyers. This practice underpins local broker marketplaces where brokers compile centralized listings of all properties for sale and invite other brokers to cooperate in finding a buyer.

The reason this practice has worked so well for so long is because it provides the greatest economic benefits for both buyers and sellers; creates greater access and equity for first-time, low/middle-income and all buyers; and enables minority and small-business brokers to compete with larger brokers. From 2010 to 2020, local broker marketplaces enabled 6.3 million more people to realize the American dream of homeownership and helped homeowners build $8.2 trillion of housing wealth.

Broker attribution solution launching soon

CNYIS is actively working to activate a solution for complying with the National Association of REALTORS® updated policy on Listing Attribution on Internet Data Exchange (IDX) displays and Virtual Office Websites (VOW). You must display the Broker Attribution field on your IDX feed to be in compliance. Brokers will receive an email with instructions on how to proceed once the solution is live. Please watch for this email.

As a reminder, the updated NAR Rule: Section 18.2.12 of the NAR® Summary of 2022 MLS Policy Changes:

All listing displayed pursuant to IDX shall identify the listing firm, and the email or phone number provided by the listing participant in a reasonably prominent location and in a readily visible color and typeface not smaller than the median used in the display of listing data.

Have a referral for the salesperson qualifying course?

Brokers who have referrals for the GSAR Salesperson Qualifying Course via Zoom starting on Oct. 4 can contact Daniel Mizon, GSAR director of Professional Development and New Member Onboarding, on Oct. 3 and 4 to register them. Call 315-457-5979 x 224. The 75-hour, multi-day course runs through Dec. 7 and is the first step individuals must take to earn their salesperson's license. The cost is $525.

Please note: GSAR will not be offering a new member onboarding this week

The Greater Syracuse Association of REALTORS® will not be offering a new member onboarding session this week. Applications may be submitted to Tibbetts@cnyrealtor.com for processing for the Oct. 6 onboarding at 10 a.m. Starting on Oct. 12, onboarding will resume its regular schedule on Wednesdays at 2 p.m.

Housing Market News

Central NY median selling price reaches new high for third consecutive month

For the third month in a row, the Central New York housing market has set a new high-water mark for its median home selling price, reaching $201,000 in August, according to the housing market report released today by the Greater Syracuse Association of REALTORS^® (GSAR). The median selling price was up 8.4% compared to last August and broke last month’s record of $200,000. July 2022 closed sales fell by 8.1% percent compared to last July. Read more.

Legislative News: Washington, Albany and here at home

Get involved! Sign up for the Broker Involvement Program

The Broker Involvement Program provides broker-owners with a quick and effective tool to rally their agents on critical legislative issues affecting the real estate industry. Here's what the Broker Involvement Program offers:

A voice on Capitol Hill - The program is an opportunity to bring a strong and united REALTOR® voice to members of Congress. With more than 16,000 broker-owners and 450,000 agents in the program, the REALTOR® voice will be heard loud and clear.
An easy-to-manage solution - Nothing needs to be downloaded and there is no cost to the broker. NAR gives the broker-owner or managing broker access to the Broker Portal.
Proven results - Calls for Action response rates are significantly higher when agents receive their message from their broker. Nearly 40 percent of all responses on Calls for Action were from agents in the Broker Involvement Program.

Learn more about the program or join today!

REALTOR® Party Mobile Alerts (RPMA), NAR’s advocacy texting platform, offers REALTOR® Associations and REALTORS® a way to stay connected directly from their cell phone or tablet. When a national or state legislative call for action is launched, subscribers get a short text message, containing information to take action. Sign-up today!

For your next office meeting

Encourage your agents to sign up for October classes

Please highlight these upcoming classes during your next office meeting and encourage your agents to take advantage of the learning opportunities:

Effective Communication Tools - Oct. 11 from 9 a.m. to noon
How to Find Those Adjustments: Peek Inside Appraisals - Oct. 12 from 10 a.m. to 1 p.m.
Fair Housing: It's Everyone's Right - Oct. 18 from 9 a.m. to noon
Crash Course in Contracts - Oct. 19
Standards-Based RE Photography Editing - Oct. 26 from 9 a.m. to noon

Visit cnyrealtor.com for details and registration.

Join the Cayuga County Chapter in celebrating fall on Oct. 6

The Cayuga County Chapter will celebrate the season with its Fall Networking and Charity event on Oct. 6 from 4 to 7 p.m. at The Seneca Riverside, 9345 Stickle Rd., Weedsport.

Please consider supporting this event by bringing an item valued at $50 or more to be auctioned off to benefit the Humanitarian Aid for Ukraine Fund through the St. Peter and St. Paul Ukrainian Catholic Church. Checks and cash are welcome.

The cost for the event is $15 for members and $20 for non-members through Oct. 3. After that date and through Oct. 6, the cost will be $20 for members and $25 for non-members. Register her e.

Thank you to Major Sponsor Howard Hanna Real Estate Services. Sponsorships are available. Email GSAR to learn more.

This year's annual Annual PATH Auction will be on Oct. 11 from 5 to 9 p.m. at LaParrilla on the Water, 24E. 1st St., Oswego. All proceeds from the event will benefit Oswego County Opportunities Program to Assist Teenage Homeless (PATH) program. PATH is a transitional living program for homeless young people between the ages of 16 and 21. It is designed to help them learn independent living skills, continue their education and become responsible members of the community. PATH also provides clothing, school supplies, health care assistance, transportation and more.

Please consider supporting this event by bringing an item valued at $50 or more to be auctioned off to benefit PATH. Dean Cummins will be our auctioneer.

The cost for the event is $20 for members and $25 for non-members through Oct. 7. After that date and through Oct. 11, the cost will be $25 for members and $30 for non-members. Register here.

Thank you to: major sponsors Fulton Savings Bank, Howard Hanna Real Estate Services, Paragon Home Loans and the Oswego County Chapter; food sponsor Weaver, Mancuso, Brightman PLLC; dessert sponsor Movement Morgage; and cheese platter sponsor Century 21 Galloway Realty.

Additional sponsorships are available. Email GSAR to learn more.

Background, credit checks are fertile ground for lawsuits

Property managers and other real estate professionals routinely conduct background and credit checks in the course of business. Be vigilant: You could be sued for not adhering to federal and state regulations when gathering and sharing sensitive consumer data.

The latest “Window to the Law” video from the National Association of REALTORS® details your duty to comply with the Fair Credit Reporting Act when handling this data, including a consumer’s credit and rental history as well as other personal data. Aside from the federal law, state consumer data laws vary widely, says NAR staff attorney Mike Rohde. “Regardless of jurisdiction, consumer reports must only be used for a permissible purpose, which includes evaluations connected with credit, employment, insurance and rental housing,” he adds. Watch the video.

Town of Hastings law requires inspection of building sewers for all property sales

The Town of Hastings in Oswego County has made all property sales within the town contingent upon inspection of building sewers. Illegal connections of sump pumps, gutters, basement drains, etc. have caused a significant amount of “clean water” into the town’s sewer system causing issues. Town officials indicate that flows during heavy rains have been as much as eight times the flow during normal weather. “The excessive infiltration causes issues from every stretch of the system,” said Tony Bush, Town Supervisor. “Upsizing the entire system to handle the flow would cost millions of dollars that can be saved if everyone does their part. These illicit connections have always been against our law, but now we have a plan for regular inspections.” The modification to the Town’s Sewer Use Law requiring inspection upon property sale/transfer was passed in May and become effective immediately. Contact Mark Bombardo for inspections or questions at 315-668-2326 ext. 3 or Hastingscode@hotmail.com.

REALTOR® Safety Month is coming to an end; have you checked out these safety resources

REALTORS® face job-related risks every day. You can avoid risky situations by being aware of potential dangers and taking precautions. As REALTOR® Safety Month comes to a close, you can help the industry achieve the goal of reducing safety incidents by reviewing these five Safety Action Items for REALTORS®: