The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-30
To Aid in Enforcement of
New Realty License Law

The full cooperation Of the New York
State Association of Real Estate Boards
in helping to enforce the new Gibbs
McWhinney bill to license and regulate
real estate brokers and statesmen In
cities and in Westchester and Nassau
counties is pledged to the State Tax
Commission by H. II. Garfield, president
Of the State association. In q state
ment issued last week regarding the
new law. Mr.. Garfield says:
This successful result OF our long
continued efforts to secure increased
legal protection in realty transactions
for the general public and the estab-
lished. legitimate real estate broker and
salesman, Is due to the splendid CO.
operation of the twenty-six local real
estate boards comprised in this asso-
citation, as we'll as the loyal support of
the Real Estate Board of New York.
On October / next new era will dawn
flor those engaged in the business of real
estate in New York, for after that date
the real estater, the leaster, the curb
stoner and the fly by night promoter will
have to seek other fields OF endeavor.
1.-THE State of New York may now
take it's rightful place with those thirteen
other progressive States in the Union
which have adopted similar real estate
license laws, and thus have legislated
directly against fraudulent practices.
Misrepresentation and dishonesty in
realty transactions.
I'VE need feel no regretsin accepting
law limited in its application to the
cities of the State and the suburban
counties OF Westchester and Nassau.
adjoining New York city, The law APP
plies to such a vast majority Of our
population that It gives adequate pro-
lection to those communities where
realty transactions are most active
The introduction Of the limited bill was
agreed upon only after careful investi-
CATION and extended conferences had
convinced us that there would be abso-
lutely no chance to again pass the State
wide bill. which hadsbeen vetoed In 1921
by the Governor.
"The passage of the bill through the
Legislature was secured only by con-
slant watchfulness and untiring en-
deavor. In addition to the opposition
OF the same group OF New York land
lords who appeared against the bill last
year, q considerable number OF Brook
Ign brokers vigorously opposed the
measure in its passage through the AS
sembly. This opposition failed, how
ever, with the final vote of So to 10 for
the bill. Ten or more additional votes
OL
been cast for the measure IL they had
been needed.
"On behalf of the State Association
desire to thank all those of our MEM
bers who aided US so theoretically, the
officers and committees of the Real Es-
tate Board OF New York and the mem
bers of the Legislature who personally
supported our cause.
I'VE pledge our full cooperation to the
State Tax Commission In putting the
law into operation"
The following are some OF the impor-
tant features of the license law:
% The law takes effect October I,
1922, ION and after which date no per-
son, copartnership or corporation shall
engage In or follow the business or oc-
cupatlon Of. or hold himself or itself
out. or act temporarily or otherwise as
a real estate broker or real estate sales
man In a city and in Westchester and
Nassau counties without first procuring
a license therefor from the State Tax
Commission"
CD Applications for licenses shall
state: (a) name and residence address
OF applicant. including each member Of
a copartnership and each officer of a
corporation: Obj place OF business; (c)
business or occupation Heretofore en-
gagged In for period OF two years; (d)
such further information as the State
Tax Commission may reasonably re-
duire TO determine trustworthiness.
CD Each licensed real estate broker
shall maintain a definite place OF busi-
ness (may be established in ones
home).
90 License fees are: First class
cities, brokers s25, statesmen So second
class cities. brokers SIG. statesmen So /:
all other cities, brokers $40. statesmen 81.
Payable annually. One-half OF the fees
received by the State revert TO the
counties and cities from which col
lected.
(5) License issued to a corporation
or copartnership entities only one Of
ficer or partner thereof TO act as a
broker. Each other officer or partner
acting as a broker is required TO take
out an additional license, the fee for
which shall be one-half the regular fee.
(e) Power OF revocation OF licenses
given to the State Tax Commission for
missfatemcnt in application. fraud or
fraudulent practices demonstrated un-
trust worthiness or incompetency, or a
violation Of any provision Of the act.
(7) Action OF state Tax Commission
in revoking or suspendlng licenses Is
subject to court review by writ on
certiorari.
ts) Splitting OF commissions IL pm
hibited Commissions may be DIVIDED
only by licensed brokers or statesmen In
localities where the law is applicabe.
CD Statesmen are prohibited from ac-
cepting more than one compensation
for service rendered.
(1o) Actions to collect commissions