Communication from NYS Department of State

In accordance with Chapter 153 of the Laws of 2022, effective April 20, 2022: “Each real estate broker shall institute standardized operating procedures for the prerequisites prospective homebuyers must meet prior to receiving any services. Such standardized operating procedures shall include but not be limited to the following: (i) whether prospective clients shall show identification; (ii) whether an exclusive broker agreement is required; (iii) whether pre-approval for a mortgage loan is required”. For reference, the text of the law is available online here.

Starting April 20, 2022, every real estate broker operating within the State of New York must post such standardized operating procedures on each publicly available website and mobile device application they maintain. Additionally, each publicly available website and mobile device application operated by an associated agent or “team” of such broker, must have posted their broker’s standardized operating procedures or a direct link to such information on their broker’s website. Brokers must keep an archive of all standardized procedures, for as long as they are actively licensed, by having each amendment date stamped and notarized. All new procedures must be posted and made available, at each brokerage office and online, within 30 days of any changes. Real estate brokers are not, however, required to file their standardized operating procedures with the Department of State.

Brokers and their associated licensees must be in compliance with this new provision of law by April 20, 2022. In addition, law provides that any broker or salesperson operating under a brokerage license that fails to adhere to such operating procedures shall be subject to discipline.
Please visit the Department’s website for periodic updates and other important information here.

New York Real Estate Standard Operating Procedures

Pursuant to New York State law, Miriam Leah Paskus legal NY real estate broker is required to publish its Standard Operating Procedures that detail prerequisites that all prospective homebuyers (“Prospective Buyers”) must meet before they receive services from a New York real estate agent.

New York agents must implement these pre-services procedures uniformly with respect to any Prospective Buyer.

  • Prospective Buyer Identification. We do not require Prospective Buyers to provide identification to work with an agent. However, Prospective Buyers may be required to show proof of identification to (i) enter certain offices if required by the building’s security, (ii) attend an open house or showing at the direction of a homeowner or listing agent, or (iii) in any other circumstance as directed by a third party, including but not limited to, a seller or listing agent.
  • Buyer Representation Agreement. We do not require Prospective Buyers to sign an exclusive buyer representation agreement to work with us, however, a prospective buyer and agent may agree to utilize an exclusive buyer representation agreement.
  • Prospective Buyer Evidence of Pre-Approval. We do not require Prospective Buyers to provide confirmation of a loan or mortgage pre-approval to work with an agent; however, a third party, including a seller or listing agent, may require proof of pre-approval, including but not limited to, prior to attending a showing or open house or receiving an offer from the Prospective Buyer.