You’re lucky to see more than two stars over the capital

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At the edge of a slim park dividing Sihanouk Boulevard, an advertising sign insults most views east. It obscures the top of Independence Monument, which commemorates a modern achievement and is a two-minute walk from the sign. One end of the NagaWorld complex lurks above the trees at right.

They are immense, nearly blinding in intensity and grotesquely damaging to the experience of living in Phnom Penh.

They are advertising displays mounted on brutally big columns, except in the case of the NagaWorld casino and hotel complex, where Continue reading

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State admits to limited policing of us brokers

(Flickr photo by Metropolitan Police)

Real estate brokers in the state number 52,855, nearly half them in New York City.

Number of complaints filed with New York’s Department of State last year: 952.

Those figures were reported by the Real Deal in a piece about how hard will be enforcement of new advertising rules.  (I reported on the changes previously.)

Given what most consumers think of real estate agents and the number of times that I alone have observed violations of state law, those numbers just don’t square with reality.

There’s a simple explanation. Continue reading

Brokerage firms not rushing to eliminate titles

A new opinion letter from the New York Department of State about the misuse of corporate titles by real estate agents has drawn a muted response from the city’s brokerages.

Peters

The one-and-half-page letter said the use of titles such as “vice president” was dishonest and misleading, amounting to prohibited false advertising unless the holders of real estate licenses actually were corporate officers.

“We’ll wait and see what unfolds,” Continue reading

Say good-bye to real estate VPs, SVPs and EVPs?

The New York Department of State says in a stunning opinion letter distributed Monday by the Real Estate Board of New York (REBNY) that many of us real estate salespersons and associate real estate brokers, including me, are violating the law.

Associate Attorney Whitney A. Clark states in the letter that those of us who adopt or receive corporate titles such as vice president on upward are in violation of the real property law if we are not actually officers of the corporation — for example, any incorporated brokerage.

In the one-and-a-half-page missive, which amounts to a bombshell, Clark declared: Continue reading

Brokers breaking law could face severe penalties

When I wrote about proposed new advertising rules for real estate brokers, I was unable to find specific penalties.

Now Whitney A. Clark of the Department of State has enlightened me with a response to my search for answers, and the good news is that virtually all violations of New York Real Property Law can produce the same costly punishments. Continue reading

State to tighten advertising rules for real estate

Few buyers and sellers of residential real estate believe everything in advertisements placed by brokers and agents.

Neither does New York’s Department of State (DOS), which is proposing to implement new rules as a consumer protection to replace its informal advertising guidelines.  In a notice about the change published on Oct. 24, it said:

After consulting with the New York State Board of Real Estate, however, it was determined that enforceable regulations were required in order to adequate protect the public from dishonest and misleading advertising practices.

Covered by the rule is Continue reading