# אז מה למעשה סוכן נדל”ן בניו יורק צריך לדעת? State the purpose of…
# אז מה למעשה סוכן נדל”ן בניו יורק צריך לדעת?
State the purpose of the NY licensing law, the Department of State and the Board of Real Estate.
Explain the rules for obtaining a license in New York, state the types of licenses and their respective requirements.
Explain the New York real estate licensing exam requirements, procedures and policies.
Define and explain the rules for license issuance, license information changes and branch office management.
Define and explain the rules for license renewal, continuing education and reciprocity.
Identify at least five Department regulations including handling of kickbacks and proper advertising.
Name three allowed and three prohibited activities for unlicensed assistants and list at least five licensee activities that violate NY license law.
Explain the hearing process and list the penalties for violating the license law.
Identify and explain the four sections of a hearing decision.
Define the following agency terms: agency, principal, client, agent, fiduciary and customer.
List the duties licensees owe to clients and to customers.
List and explain the types of real estate agencies allowed in NY and explain the NY rules for commissions.
Name the federal antitrust statutes and explain these antitrust terms: price fixing, boycotts, market allocation and tie-in agreements.
Define the agency terms and parties involved in agency and subagency relationships.
Define dual agency and explain the rules for disclosure and designated agency.
Explain the various single agency relationships and how they are used.
List the ways agency relationships may be terminated.
Define the different types of listing agreements.
Describe provisions that are typically found in listing agreement forms.
Explain how and when to use the agency disclosure forms.
Discuss other required disclosures, including the property condition disclosure.
Describe the difference between an employee and an independent contractor and explain the elements of the independent contractor relationship.
Discuss laws governing independent contractors – both New York State Law and the IRS Code.
Identify and explain property rights.
Describe the difference between real property and personal property and identify uses of real property.
Define the different types of freehold and leasehold estates.
Explain different forms of ownership.
Describe ways businesses can own real estate and discuss condominium and cooperative ownership.
Define a lien and discuss lien types.
Explain the different types of specific liens and discuss lien priority.
Describe easements and encroachments.
Describe essential elements of a deed, including legal descriptions.
Explain the different types of deeds.
Describe how deeds are transferred after death and discuss adverse possession and accession rights.
Define a title closing and describe what happens at closing.
Discuss title and homeowner’s insurance and explain the requirements of the real estate Settlement and Procedures Act (RESPA).
Describe how the seller’s and buyer’s costs are handled at closing.
Explain prorations and discuss the Closing Disclosure form.
Describe different types of leasehold estates and identify the rights and obligations of the parties.
Describe various aspects of standard lease provisions.
Explain how leases are terminated and identify types of leases.
List and explain different types of contracts and their classifications.
Describe the essentials of a valid contract and under what conditions the contract could terminate.
Explain the provisions of a sales contract, including an installment sales contract, and describe a lease with option to buy.
Discuss contract preparation, including which form to use, what data is needed for the contract prep, and who prepares the contract.
Explain mortgage contingencies and issues surrounding down payments and describe contract procedures.
Discuss the issues surrounding a mortgage, including mortgage clauses, payments, fees, foreclosures, and how a property with an existing mortgage can sell.
Identify specific types of loans and explain their repayment plans.
Describe the aspects of a conventional loan, including advantages and disadvantages and the need for private mortgage insurance (PMI).
Explain a number of loan options that can put a conventional loan within a borrower’s reach.
Discuss a number of government-backed loans; including FHA, DVA, RHS, and SONYMA.
Describe the basic mechanics of money flow in the secondary mortgage market and define the major players involved in its activities.
Explain the process and key determinants of mortgage lending underwriting; including such decision variables as buyer income, LTV ratios, and quality of the collateral.
Describe the general nature of modern predatory lending practice and its most common offenses.
Describe the significant forms of private and state environmental land use control including deed restrictions, covenants, and the SEQR.
Define and describe salient forms of public land use control including sale disclosures, taxation, eminent domain, building codes and permits
Describe the classifications of zoning and the various land use restrictions imposed by each zoning type.
Identify the principal activities that comprise municipal planning and management including master plan development and key zoning actions such as moratoria, housing development approvals, and zoning appeals.
Identify and describe land use and site requirements necessary for construction pertaining to building permits, codes, wells, waste, energy, and site use.
Describe the principal aspects and components of a building’s structure including the foundation, framing, flooring, roofing, and walls.
Describe further elements of building construction including insulation, mechanical systems, heating, and A/C systems.
Describe further elements of building construction including plumbing systems, electrical systems, and safety systems.
Describe principal long-standing environmental issues, their specific inherent hazards, related legislation, and remediation methods.
Identify and describe the current environmental issues of asbestos, lead paint and radon, and summarize related regulation and remediation efforts.
Identify and describe the current environmental issues of indoor air quality, mold, formaldehyde insulation, and PCBs, and summarize related regulation and remediation efforts.
Define and describe key environmental legislation and the current issues of underground storage tanks, electromagnetic fields, and CFCs.
Describe and differentiate key valuation concepts, types of value, and principles of value.
Describe the components of a residential market analysis including the types of properties used to derive analysis results.
Explain the characteristics and mechanics of the sales comparison, income and cost approaches to valuation.
Explain the general mechanics and steps involved in preparing a Comparative Market Analysis (CMA).
Cite and describe principal federal fair housing laws, their central thrust, how they are enforced, and the general responsibilities these laws impose on brokerage practice.
Describe additional fair housing laws, particularly New York’s Human Rights Law, and the central thrusts of this legislation.
Explain the nature of various forms of discrimination in lending and brokerage and how testers contribute to enforcement of anti-discrimination laws.
Describe specific ways licensees can conduct their practice to avoid discrimination and reduce their exposure to related liabilities.
Describe what a city, town council, planning board, zoning board and architectural review board does.
Discuss functions related to building and planning departments.
Explain the role of various municipal employees.
Identify equations for, and compute real estate commissions, loan interest and points, and property appreciation and depreciation.
Identify equations for, and compute mortgage payments and real property area and length measurements.
Identify equations for, and compute mortgage underwriting ratios and ad valorem and property transfer taxes.
Define property insurance and the major types of coverage.
Explain how to determine how much insurance a property owner needs.
Discuss alternative ways to purchase insurance and various policy topics such as deductibles, cancellations, non-renewals and the agent’s role.
Identify General Safety Concerns
Establish methods for Safety in the Office
Recognize methods for Safety on the road, at open houses, and in home offices
Understand licensee safety issues
Identify liability issues regarding accidents and injuries
Explain how to reduce risk for licensees
Discuss the purpose of taxation and how real estate taxes are assessed and calculated.
Describe the reassessment procedure in New York and equalization between taxing jurisdictions.
Discuss special assessments and tax exemptions.
Explain how property owners can contest and appeal tax assessments, and the possible outcomes.
Describe the principle documents that legalize the formation of condominium dwellings including the declaration, articles of incorporation, bylaws, and offering plan.
Identify the various legal instruments and procedures involved in offering, acquiring and flipping a condominium unit.
Describe key issues that impact the buyer in a condominium purchase including CCRs, closing costs, title insurance, taxes, and financial qualification.
Characterize the legal concept of a cooperative and describe the documents and procedures involved in the legal organization of a cooperative.
Describe the co-op “board package,” the buyer approval process, and the legal concept of the “condop.”
Identify and describe critical investment concepts that impact residential and commercial property investment
Describe the various types of real property and their general investment characteristics
Contrast the advantages and disadvantages of investing in a specific type of investment property.
Explain how to derive net operating income of an investment property.
Describe the steps used in deriving pre-tax cash flow, taxable income, and cash flow after-tax for an investment property.
Describe the elements of an income property’s operating statement and how it is used to derive cash-on-cash return
Explain the general methods used to estimate an income property’s operating results using such tools as comparables, location characteristics, ratio analysis and cap rates.
Identify essential dynamics and characteristics of commercial leasing practice including its purposes, advantages, rights issues, how space is measured, and common area considerations.
Describe various ways leases are structured and how lease costs are established and managed over a lease term.
Describe the central thrusts of principle lease clauses in commonly used commercial leases.
Identify key tax issues relating to buying and selling residential homes, including income tax liability and capital gain or loss.
Calculate profit or loss and capital gains on the sale of residential and commercial property.
Define and describe Section 1031 tax-free exchanges and the qualifications the IRS imposes on capital gains tax treatment.
Describe the impacts of deductible financing, points and depreciation on real property tax liability.
Describe the requirements to become a mortgage broker and mortgage banker, borrower disclosures and penalties for violations.
Discuss the differences between mortgage brokers and mortgage bankers, and their roles in the lending process.
Describe the functions performed by a property manager and property management agreements.
Discuss skills that are necessary to being an effective property manager.
Explain the obligations a property manager owes to an owner.
את התגובות המקוריות לפוסט ניתן לקרוא בתחתית דף הפוסט הנוכחי באתר או בקישור לפוסט בפייסבוק וכמובן שאתם מוזמנים להצטרף לדיון
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