A spokeswoman for the Department of State did not immediately respond to a request for comment. The Real Estate Board, which represents major developers, property owners and brokers in New York City, will be joined in the lawsuit by the New York State Association of Realtors, a statewide organization with nearly 60,000 brokers. The two groups said the Department of State, before issuing the guidance, should have sought input from the real estate industry and presented it for review before the state’s Board of Real Estate. “These regulations will severely and wrongly impact the incomes of hard-working real estate professionals,” said Jennifer Stevenson, the president of the New York State Association of Realtors. “It is unconscionable that a serious disruption of the marketplace has occurred without any industry input or even proper review by the state Board of Real Estate.”

Source: New York Times February 07, 2020 21:19 UTC