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Realtors applaud new stricter training standards

Thu, Oct 2nd 2008 12:00 am
By JAMES FINK
Business First

Becoming a licensed real estate agent in New York has gotten a little tougher.

And no one is complaining.

Quite the opposite. As of July 1, the basic real estate licensing program that certifies entry-level agents was increased from a 45-hour series of educational modules to 75 hours. The change, many years in the making, has been championed by real estate associations across New York, including the Buffalo Niagara Association of Realtors.

"It makes us all that much more professional," said James Knight, BNAR president and a broker with M.J. Peterson Real Estate Corp. "It makes for better-educated agents and gives us a little more teeth."

Across the board, real estate insiders are applauding New York's decision to beef up entry-level requirements.

The decision had been openly debated for a number of years as the real estate industry strove for tighter professional standards. Most agree that the increase will not serve as a deterrent for those seriously interested in making real estate their profession.

"It's not going to scare away any potential candidates," said Lou Izzo, Hunt Real Estate Corp. president. "The new requirements are only going to benefit the incoming new agents. I don't see the new requirements as much of an issue."

Anticipating the expanded entry-level requirements and wanting to emphasize educational programming, the BNAR built a larger conference and seminar room in its new Amherst headquarters. The association moved from Sylvan Parkway to John James Audubon Parkway during the summer. Gone is its cramped classroom; in is a learning center where students will work through a variety of new training modules.

Salvatore Prividera Jr., spokesman for the New York State Association of Realtors, said the new training modules cover myriad emerging topics. Among them:

• Commercial and investment properties.

• IRS Code 1031 real estate tax-exchange property transactions.

• Insurance.

• Buying and selling condominiums and co-ops.

• Tax implications for owners.

• Fair-housing issues.

"The changes are a recognition that a 45-hour course just isn't enough for proper training," Prividera said. "Training is so important. We want our agents - all agents - to better serve the consumer."

Besides the 75-hour course, agents have to complete other educational requirements throughout their careers. That includes taking a 22.5-hour continuing education course every two years.

"It's high time," said Susie Lenahan, M.J. Peterson Real Estate Corp. vice president. "Education is so important. I'm all for it."

Susan Foster, a 22-year veteran with Gurney Becker & Bourne, said with so many changes taking place in the real estate field, all agents can benefit from increased educational standards. Foster compared the program to continuing education that other professional fields endorse or require.

"Real estate has changed so much," Foster said. "Asking someone to complete a 75-hour course is not a lot to ask. The more education and training you get, the better you will be and the better it will be for your clients."