The 2014 legislative session officially came to an end on Friday, June 20. Due to the active support and involvement of countless REALTORS from across the state, NYSAR successfully accomplished several of our legislative priorities this year including the passage by both the Senate and Assembly of three NYSAR supported bills. The first ensures the continued availability of FHA loans in New York. The second will require any builder who is contracting to construct a one- or two-family residence, under three stories in height, to provide the buyer with information on the installation of fire sprinklers prior to entering into a contract for construction of such dwelling. The third will codify the ability of brokers to offer rebates and incentives to buyers, sellers, tenants and landlords. NYSAR also successfully defeated legislation that would have required water quality tests as a condition of the transfer of any real property serviced by a well, and legislation to double the fines for violations of the real estate licensing laws.

Most importantly, NYSAR was able to prevent the passage of several bills that would have negatively impacted REALTORS. To read the full session overview, click here.