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N.Y. Real Property Law Section 440 Definitions 1. Whenever used in this article "real estate broker" means any person, firm, limited liability company or corporation, who, for another and for a fee, commission or other valuable consideration, lists for sale, sells, at auction or otherwise, exchanges, buys or rents, or offers or attempts to negotiate a sale, at auction or otherwise, exchange, purchase or rental of an estate or interest in real estate, or collects or offers or attempts to collect rent for the use of real estate, or negotiates or offers or attempts to negotiate, a loan secured or to be secured by a mortgage, other than a residential mortgage loan, as defined in Banking Law § 590 (Licensing) section five hundred ninety of the banking law , or other incumbrance upon or transfer of real estate, or is engaged in the business of a tenant relocator, or who, notwithstanding any other provision of law, performs any of the above stated functions with respect to the resale of condominium property originally sold pursuant to the provisions of the general business law governing real estate syndication offerings. In the sale of lots pursuant to the provisions of article 9-A (Subdivided Lands) article nine-A of this chapter , the term "real estate broker" shall also include any person, partnership, association or corporation employed by or on behalf of the owner or owners of lots or other parcels of real estate, at a stated salary, or upon a commission, or upon a salary and commission, or otherwise, to sell such real estate, or any parts thereof, in lots or other parcels, and who shall sell or exchange, or offer or attempt or agree to negotiate the sale or exchange, of any such lot or parcel of real estate. For purposes of this subdivision the term, "interest in real estate" shall include the sale of a business wherein the value of the real estate transferred as part of the business is not merely incidental to the transaction, and shall not include the assignment of a lease, and further, the transaction itself is not otherwise subject to regulation under state or federal laws governing the sale of securities. In connection with the sale of a business the term "real estate broker" shall not include a person, firm or corporation registered pursuant to the provisions of article twenty-three-A of the general business law or federal securities laws. 2. "Associate real estate broker" means a licensed real estate broker who shall by choice elect to work under the name and supervision of another individual broker or another broker who is licensed under a partnership, trade name, limited liability company or corporation. Such individual shall retain their license as a real estate broker as provided for in this article; provided, however, that the practice of real estate sales and brokerage by such individual as an associate broker shall be governed exclusively by the provisions of this article as they pertain to real estate salespersons. Nothing contained herein shall preclude an individual who elects to be licensed as an associate broker from also retaining a separate real estate broker’s license under an individual, partnership, trade name, limited liability company or corporation. 3. "Real estate salesperson" means a person associated with a licensed real estate broker to list for sale, sell or offer for sale, at auction or otherwise, to buy or offer to buy or to negotiate the purchase or sale or exchange of real estate, or to negotiate a loan on real estate other than a mortgage loan as defined in Banking Law § 590 (Licensing) section five hundred ninety of the banking law , or to lease or rent or offer to lease, rent or place for rent any real estate, or collects or offers or attempts to collect rent for the use of real estate for or in behalf of such real estate broker, or who, notwithstanding any other provision of law, performs any of the above stated functions with respect to the resale of a condominium property originally sold pursuant to the provisions of the general business law governing real estate syndication offerings. 4. "Tenant relocator" means any person, firm, corporation, partnership, limited liability company or any legal entity whatsoever, which, for another and for a fee, commission or other valuable consideration, supervises, organizes, arranges, coordinates, handles or is otherwise in charge of or responsible for the relocation of commercial or residential tenants from buildings or structures that are to be demolished, rehabilitated, remodeled or otherwise structurally altered. 5. "Association, associated; or associated with" whenever used in this article shall be deemed to make reference to a salesperson’s relationship with their broker. Nothing in this article shall be deemed or construed to be indicative or determinative of the legal relationship of a salesperson to a broker nor shall any provision of this article be deemed or construed to alter or otherwise affect the legal responsibility of a real estate broker to third parties for the acts of anyone associated with such broker pursuant to this article. 6. "Office manager" means a licensed associate real estate broker who shall by choice elect to work as an office manager under the name and supervision of another individual broker or another broker who is licensed under a partnership, trade name, limited liability company or corporation. An associate real estate broker shall be required to have been active as a licensed associate broker for at least two of the four years preceding appointment as an office manager. Such individual shall retain their license as a real estate broker as provided for in this article and shall be required to exercise the same duty of supervision over salespersons and associate brokers as a licensed real estate broker; provided, however, that the practice of real estate sales and brokerage by such individual as an associate broker shall be governed exclusively by the provisions of this article as they pertain to real estate salespersons. Nothing contained in this subdivision shall preclude an individual who is licensed as an associate broker who elects to work as an office manager from also retaining a separate real estate broker’s license under an individual, partnership, trade name, limited liability company or corporation. Source: Section 440 — Definitions , https://www. nysenate. gov/legislation/laws/RPP/440 (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 440-A License required for real estate brokers and salespersons No person, co-partnership, limited liability company or corporation shall engage in or follow the business or occupation of, or hold themselves or itself out or act temporarily or otherwise as a real estate broker or real estate salesperson in this state without first procuring a license therefor as provided in this article. No person shall be entitled to a license as a real estate broker under this article, either as an individual or as a member of a co-partnership, or as a member or manager of a limited liability company or as an officer of a corporation, unless they are twenty years of age or over. No person shall be entitled to a license as a real estate salesperson under this article unless they are over the age of eighteen years. No person shall be entitled to a license as a real estate broker or real estate salesperson under this article who has been convicted in this state or elsewhere of a crime, unless the secretary makes a finding in conformance with all applicable statutory requirements, including those contained in article twenty-three-A of the correction law, that such convictions do not constitute a bar to licensure. No person shall be entitled to a license as a real estate broker or real estate salesperson under this article who does not meet the requirements of General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law . Notwithstanding anything to the contrary in this section, tenant associations and not-for-profit corporations authorized in writing by the commissioner of the department of the city of New York charged with enforcement of the housing maintenance code of such city to manage residential property owned by such city or appointed by a court of competent jurisdiction to manage residential property owned by such city shall be exempt from the licensing provisions of this section with respect to the properties so managed. Source: Section 440-A — License required for real estate brokers and salespersons , https://www. nysenate. gov/legislation/laws/RPP/440-A (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 441 Application for license 1. Form. (a) Any person, copartnership, limited liability company or corporation desiring to act as a real estate broker or any person desiring to act as a real estate salesperson on or after the first day of October, nineteen hundred twenty-two, shall file with the department of state at its office in Albany an application for the kind of license desired, in such form and detail as such department shall prescribe and conforming to the requirements of General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law , setting forth the following, if the application be for a broker’s license: (i) The name and residence address of the applicant, and if an individual the name under which they intend to conduct business. (ii) If the applicant be a copartnership the name and residence address of each member thereof and the name under which the business is to be conducted; or, if the applicant be a limited liability company, the name of the company, and the name and residence of each of its members; or, if the applicant be a corporation, the name of the corporation and the name and residence address of each of its officers. (iii) The place or places, including the city, town or village, with the street and number, where the business is to be conducted. (iv) The business or occupation theretofore engaged in by the applicant, or, if a copartnership, by each member thereof, or, if a limited liability company, by each member thereof, or, if a corporation, by each officer thereof, for a period of two years, immediately preceding the date of such application, setting forth the place or places where such business or occupation was engaged in and the name or names of employers, if any. (v) The form, information and statement required by General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law . (b) Such further information as the department may reasonably require shall be furnished by the applicant including sufficient proof of having taken and passed a written examination and answered such questions as may be prepared by the department to enable it to determine the trustworthiness of the applicant if an individual, or of each member of a co-partnership or each member of a limited liability company or each officer of a corporation for whom a license as a broker is asked, and their competency to transact the business of real estate broker in such a manner as to safeguard the interests of the public. In determining competency, the department shall require proof that the person being tested to qualify to apply for a broker’s license has a fair knowledge of the English language, a fair understanding of the general purposes and general legal effect of deeds, mortgages, land contracts of sale, and leases, a general and fair understanding of the obligations between principal and agent, has taken a class on cultural competency training, a general and fair understanding of the laws, rules and regulations pertaining to fair housing and discrimination in the sale or rental of real property or an interest in real property, as well as of the provisions of this section. The applicant must also furnish proof that they have attended for at least one hundred fifty-two hours and has successfully completed a real estate course or courses approved by the secretary of state as to method and content and supervision which approval may be withdrawn if in the opinion of the secretary of state said course or courses are not being conducted properly as to method, content and supervision, and that either the applicant has actively participated in the general real estate brokerage business as a licensed real estate salesperson under the supervision of a licensed real estate broker for a period of not less than two years or has had the equivalent experience in general real estate business for a period of at least three years, the nature of which experience shall be established by affidavit duly sworn to under oath and/or other and further proof required by the department of state. Computer-based and distance-learning courses may be approved by the department so long as providers demonstrate the ability to monitor and verify participation by the applicant for the specified time period. Notwithstanding the foregoing authority to approve computer-based and distance-learning courses, the department may prescribe that specified subjects or hours must be presented in a classroom setting. For purposes of this section, cultural competency is defined as understanding cultural norms, preferences and challenges within our diverse communities. (c) In the event the applicant shall be a licensed salesperson under this article and shall have submitted acceptable proof pursuant to the provisions of either paragraph (d) of subdivision one-A of this section or paragraph (a) of subdivision three of this section of having attended and successfully completed seventy-seven hours of an approved real estate course or courses, six hours of which have been focused on fair housing and discrimination in the sale or rental of real property or an interest in real property, within eight years of the date of the application, the department may accept and credit same against the one hundred fifty-two hours required hereunder. (d) The one hundred fifty-two hours of an approved real estate course or courses required by paragraph (b) of this subdivision shall include instruction on fair housing and discrimination in the sale or rental of real property or an interest in real property as described in paragraph (e) of subdivision three of this section and instruction on the licensed real estate broker’s responsibility for ensuring that each licensed real estate salesman under such broker’s supervision is in compliance with his or her obligations under applicable federal, state, and local laws, rules, and regulations pertaining to fair housing and discrimination in the sale or rental of real property or an interest in real property. 1-A. (a) Every application for a real estate salesperson’s license shall set forth: (i) The name and residence address of the applicant. (ii) The name and principal business address of the broker with whom they are to be associated. (iii) The business or occupation engaged in for the two years immediately preceding the date of the application, setting forth the place or places where such business or occupation was engaged in, and the name or names of employers if any. (iv) The length of time they have been engaged in the real estate business. (v) The form, information and statement required by General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law . (b) Each applicant for a salesperson’s license shall provide such further information as the department may reasonably require, appearing at such time and place as may be designated by the department, to take a written examination and answer such questions as may be prepared by the department to enable it to determine the trustworthiness of the applicant and the applicant’s competence to transact the business of real estate salesperson in such a manner as to safeguard the interests of the public, including the applicant’s working knowledge of the basic concepts of law pertaining to contracts, real property, agency and this article which govern conduct of such business, knowledge of laws, rules, and regulations pertaining to fair housing and discrimination in the sale or rental of real property or an interest in real property, mastery of basic skills needed to perform the applicant’s duties, working knowledge of the ethical obligations of a real estate salesperson, and knowledge of the provisions of the general obligations law pertaining to performance of the applicant’s duties. (c) Each application for either a broker’s or salesperson’s license under this article shall be subscribed by the applicant; or if made by a co-partnership it shall be subscribed by a member thereof, or if made by a corporation it shall be subscribed by an officer thereof, and shall conform to the requirements of General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law . Each application shall contain an affirmation by the person so subscribing that the statements therein are true under the penalties of perjury. An application for a license shall be accompanied by the appropriate license fee, as hereinafter prescribed in this article. (d) Anything to the contrary herein notwithstanding, on and after the effective date of this paragraph, no salesperson’s license or conditional license shall be issued by the department unless the application therefor has been accompanied by proof that prior to such application the applicant has attended at least seventy-seven hours and successfully completed a real estate course or courses approved by the secretary of state as to method and content and supervision, which approval may be withdrawn if in the opinion of the secretary of state said course or courses are not properly conducted as to method, content and supervision. Computer-based and distance-learning courses may be approved by the department so long as providers demonstrate the ability to monitor and verify participation by the applicant for the specified time period. Notwithstanding the foregoing authority to approve computer-based and distance-learning courses, the department may prescribe that specified subjects or hours must be presented in a classroom setting. 2. Renewals. Any license granted under the provision hereof may be renewed by the department upon application therefor by the holder thereof, in such form as the department may prescribe and conforming to the requirements of General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law , and payment of the fee for such license. In case of application for renewal of license, the department may dispense with the requirement of such statements as it deems unnecessary in view of those contained in the original application for license but may not dispense with the requirements of General Obligations Law § 3-503 (Required information and statement in applications for licenses to conduct occupations) section 3-503 of the general obligations law . A renewal period within the meaning of this act is considered as being a period of two years from the date of expiration of a previously issued license. The department shall require any applicant, who does not apply for renewal of license within such period, to qualify by passing the written examination as provided herein, and may require any licensee who has not yet passed the written examination, and who cannot reasonably prove to the satisfaction of the department, that he can meet the competency requirements, to pass the written examination before a renewal of license shall be granted; provided, however, that a person who failed or was unable to renew his license by reason of his induction or enlistment in the armed forces of the United States shall not be required to take or pass such examination. 3. (a) No renewal license shall be issued any licensee under this article for any license period commencing November first, nineteen hundred ninety-five unless such licensee shall have within the two year period immediately preceding such renewal attended at least twenty-two and one-half hours which shall include at least two hours of cultural competency training, at least three hours of instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest in real property, at least two hours of instruction pertaining to implicit bias awareness and understanding, at least two and one-half hours of instruction pertaining to ethical business practices, at least one hour of instruction pertaining to recent legal matters governing the practice of real estate brokers and salespersons in New York which may include statutes, laws, regulations, rules, codes, department of state opinions and decisions, and court decisions and at least one hour of instruction pertaining to the law of agency except in the case of the initial two-year licensing term for real estate salespersons, two hours of agency related instruction must be completed, and successfully completed a continuing education real estate course or courses approved by the secretary of state as to method, content and supervision, which approval may be withdrawn if in the opinion of the secretary of state such course or courses are not being conducted properly as to method, content and supervision. For those individuals licensed pursuant to subdivision six of § 442-G (Nonresident licensees) section four hundred forty-two-g of this article , in the individual’s initial license term, at least eleven hours of the required twenty-two and one-half hours of continuing education shall be completed during the first year of the term. Of those eleven hours, three hours shall pertain to applicable New York state statutes and regulations governing the practice of real estate brokers and salespersons. To establish compliance with the continuing education requirements imposed by this section, licensees shall provide an affidavit, in a form acceptable to the department of state, establishing the nature of the continuing education acquired and shall provide such further proof as required by the department of state. For purposes of this subdivision, "implicit bias" shall mean the attitudes or stereotypes that affect an individual’s understanding, actions and decisions in an unconscious manner. (b) Notwithstanding the provisions of section four hundred one of the state administrative procedure act, except as provided in this paragraph, no license issued under this article shall continue in effect beyond the period for which it is issued if the proof of attendance required hereunder is not submitted and accepted prior to such expiration date. The department in its discretion may however issue a temporary renewal license for such period of time it deems appropriate to permit the submission of the required proof of attendance when the failure to submit such proof is not due to the fault of the licensee. (c) (i) The secretary of state shall promulgate rules establishing the method, content, setting and supervision requirements of the continuing education real estate course or courses provided for in this section. In establishing the requirements for the continuing education course or courses, the secretary of state shall permit alternatives with respect to content and method of presentation in consideration of the type of brokerage practiced and the availability of the sources of such course or courses in different areas of the state. Each course shall have an established curriculum composed primarily of real estate practice and professional responsibility and ethics and properly prepared written materials of the subject matter which shall be distributed as part of the course. It shall be taught by a qualified faculty with attorneys presenting legal subjects. Credit shall be awarded on the basis of one hour for each sixty minutes of actual attendance and records shall be maintained of attendance at each session which shall be transmitted to the department at the conclusion of the course. Computer-based and distance learning courses may be approved by the department so long as providers demonstrate the ability to monitor and verify participation by the licensee for the specified time period. (ii) The secretary of state shall require approved faculty to sign and affirm, under penalty of perjury, a document, approved by and submitted electronically to the department of state, attesting to compliance with all applicable statutory and regulatory requirements pertaining to the instruction of the established curriculum. The secretary of state shall promulgate penalties for faculty that fail to meet the obligations required under this section and department of state regulations including, but not limited to, the temporary suspension of their instructor certificate for the first such failure and the revocation of their instructor certificate for any subsequent failure. (d) The state real estate board, created pursuant to § 442-I (State real estate board) section four hundred forty-two-i of this article , shall not have the power to promulgate any rule, regulation or guidance requiring continuing education for real estate brokers or salespeople except those requirements set forth in subdivisions two and three of § 442-K (Powers and duties of the state real estate board) section four hundred forty-two-k of this article . (e) The secretary of state shall, upon notice and a public hearing, promulgate rules establishing the content of the instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest in real property required by paragraph (a) of this subdivision. Such instruction shall include, but not be limited to, courses on: (1) the legacy of segregation, unequal treatment, and historic lack of access to opportunity in housing; (2) unequal access to amenities and resources on the basis of race, disability, and other protected characteristics; (3) federal, state, and local fair housing laws; and (4) anti-bias training. 4. The fees provided for by this section shall not be refundable. Source: Section 441 — Application for license , https://www. nysenate. gov/legislation/laws/RPP/441 (updated Dec. 23, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 441-A License and pocket card 1. The department of state, if satisfied of the competency and trustworthiness of the applicant, shall issue and deliver to them a license in such form and manner as the department shall prescribe, but which must set forth the name and principal business address of the licensee, and, in the case of a real estate salesperson, the name and business address of the broker with whom the salesperson is associated. 2. Terms. A license issued or reissued under the provisions of this article shall entitle the person, co-partnership, limited liability company or corporation to act as a real estate broker, or, if the application is for a real estate salesperson’s license, to act as a real estate salesperson in this state up to and including the date in which the license by its terms expires. 3. Place of business; business sign required. Except as otherwise provided in this article, each licensed real estate broker shall have and maintain a definite place of business within this state, and shall conspicuously post on the outside of the building in which said office is conducted a sign of a sufficient size to be readable from the sidewalk indicating the name and the business of the applicant as a licensed real estate broker, unless said office shall be located in an office, apartment or hotel building, in which event the name and the words "licensed real estate broker" shall be posted in the space provided for posting of names of occupants of the building, other than the mail box. Where the applicant for a real estate broker’s license maintains more than one place of business, the broker shall apply for and the department shall issue a supplemental license for each branch office so maintained upon payment to the department of state for each supplemental license so issued the same fee prescribed in this article for a license to act as a real estate broker. Each such branch office shall be under the direct supervision of the broker to whom the license is issued, or a representative broker of a corporation or partnership or manager of a limited liability company holding such license, or a duly appointed office manager. Such fee shall accompany such application and shall be non-refundable. For purposes of this subdivision, the principal residence of a real estate broker or salesperson shall not be deemed a place of business solely because such broker or salesperson shall have included the residence telephone number in their business cards. 4. Display of license. The license of a real estate broker shall be conspicuously displayed in his principal place of business at all times. Licenses issued for branch offices shall be conspicuously displayed therein. The display of a real estate broker’s license, the term whereof has expired, by any person, partnership, limited liability company or corporation not duly licensed as a real estate broker for the current license term is prohibited. 5. Change of address. Notice in writing in the manner and form prescribed by the department shall be given the department at its offices in Albany by a licensed real estate broker on their own behalf and on behalf of each salesperson associated with them of any change in their or its principal business address. The filing fee of ten dollars for each licensee named therein shall accompany such notice. Such change by a licensee without such notification shall operate to suspend their license until such suspension shall be vacated by the department. 6. Pocket card. The department shall prepare, issue and deliver, with the assistance of the department of motor vehicles, to each licensee a pocket card in such form and manner as the department shall prescribe, but which shall contain the photo, name and business address of the licensee, and, in the case of a real estate salesperson, the name and business address of the broker with whom they are associated and shall certify that the person whose name appears thereon is a licensed real estate broker or salesperson, as may be. Such cards must be shown on demand. In the case of loss, destruction or damage, the secretary of state may, upon submission of satisfactory proof, issue a duplicate pocket card upon payment of a fee of ten dollars. 7. License term. From and after the date when this subdivision shall take effect, the term for which a license shall be issued or reissued under this article shall be a period of two years. 8. Death of broker. A license issued to a real estate broker who was, at the time of their death, the sole proprietor of a brokerage office may be used after the death of such licensee by their duly appointed administrator or executor in the name of the estate pursuant to authorization granted by the surrogate under the provisions of the surrogate’s court procedure act for a period of not more than one hundred twenty days from the date of death of such licensee in order to complete any unfinished realty transactions in the process of negotiation by the broker or their salespersons existing prior to their decease. There shall be endorsed upon the face of the license, after the name of the decedent, the words "deceased", the date of death and the name of the administrator or executor under whose authority the license is being used. The period of one hundred twenty days may be extended upon application to the secretary of state, for good cause shown, for an additional period not to exceed one hundred twenty days. A license expiring during such period or extension shall be automatically renewed and continued in effect during such period or extension. No fee shall be charged for any such license or renewal thereof. 9. Except for changes made on a renewal application, the fee for changing an address on a license shall be ten dollars. 10. Except for changes made on a renewal application, the fee for changing a name or for changing the status of a real estate broker’s license shall be one hundred fifty dollars. The fee for changing a salesperson’s name shall be fifty dollars. 11. If a real estate salesperson shall leave the service of a real estate broker, the real estate broker shall file a termination of association notice on such form as secretary may designate. The salesperson’s license may be endorsed to a new sponsoring broker upon the establishment of a new record of association filed with the department of state. The fee for filing a record of association shall be twenty dollars. 12. Whenever any person licensed as a real estate broker or real estate salesperson is convicted in this state or elsewhere of a felony, of a sex offense, as defined in subdivision two of Correction Law § 168-A (Definitions) section one hundred sixty-eight-a of the correction law or any offense committed outside of this state which would constitute a sex offense, or a sexually violent offense, as defined in subdivision three of Correction Law § 168-A (Definitions) section one hundred sixty-eight-a of the correction law or any offense committed outside this state which would constitute a sexually violent offense, such real estate broker or real estate salesperson shall within five days of the imposition of sentence, transmit a certified copy of the judgment of conviction to the department of state. Source: Section 441-A — License and pocket card , https://www. nysenate. gov/legislation/laws/RPP/441-A (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 441-E Denial of license complaints notice of hearing 1. Denial of license. The department of state shall, before making a final determination to deny an application for a license, notify the applicant in writing of the reasons for such proposed denial and shall afford the applicant an opportunity to be heard in person or by counsel prior to denial of the application. Such notification shall be served personally or by certified mail or in any manner authorized by the civil practice law and rules. If the applicant is a salesperson or has applied to become a salesperson, the department shall also notify the broker with whom such salesperson is associated, or with whom such salesperson or applicant is about to become associated, of such proposed denial. If a hearing is requested, such hearing shall be held at such time and place as the department shall prescribe. If the applicant fails to make a written request for a hearing within thirty days after receipt of such notification, then the notification of denial shall become the final determination of the department. The department, acting by such officer or person in the department as the secretary of state may designate, shall have the power to subpoena and bring before the officer or person so designated any person in this state, and administer an oath to and take testimony of any person or cause their deposition to be taken. A subpoena issued under this section shall be regulated by the civil practice law and rules. If, after such hearing, the application is denied, written notice of such denial shall be served upon the applicant personally or by certified mail or in any manner authorized by the civil practice law and rules, and if the applicant is a salesperson, or has applied to become a salesperson, the department shall notify the broker with whom such applicant is associated. 2. Revocation, suspension, reprimands, fines. The department of state shall, before revoking or suspending any license or imposing any fine or reprimand on the holder thereof or before imposing any fine upon any person not licensed pursuant to this article who is deemed to be in violation of § 442-H (Rules of the secretary of state) section four hundred forty-two-h of this article , and at least ten days prior to the date set for the hearing, notify in writing the holder of such license or such unlicensed person of any charges made and shall afford such licensee or unlicensed person an opportunity to be heard in person or by counsel in reference thereto. Such written notice may be served by delivery of same personally to the licensee, or by mailing same by certified mail to the last known business address of such licensee or unlicensed person, or by any method authorized by the civil practice law and rules. If said licensee be a salesperson, the department shall also notify the broker with whom they are associated of the charges by mailing notice by certified mail to the broker’s last known business address. The hearing on such charges shall be at such time and place as the department shall prescribe. 3. Power to suspend a license. The department, acting by such officer or person in the department as the secretary of state may designate, shall have the power to suspend a license pending a hearing and to subpoena and bring before the officer or person so designated any person in this state, and administer an oath to and take testimony of any person or cause his deposition to be taken. A subpoena issued under this section shall be regulated by the civil practice law and rules. Source: Section 441-E — Denial of license; complaints; notice of hearing , https://www. nysenate. gov/legislation/laws/RPP/441-E (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 441-F Judicial review The action of the department of state in granting or refusing to grant or to renew a license under this article or in revoking or suspending such a license or imposing any fine or reprimand on the holder thereof or refusing to revoke or suspend such a license or impose any fine or reprimand shall be subject to review by a proceeding brought under and pursuant to article seventy-eight of the civil practice law and rules at the instance of the applicant for such license, the holder of a license so revoked, suspended, fined or reprimanded or the person aggrieved. Source: Section 441-F — Judicial review , https://www. nysenate. gov/legislation/laws/RPP/441-F (updated Sep. 22, 2014; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 442 Splitting commissions 1. No real estate broker shall pay any part of a fee, commission or other compensation received by the broker to any person for any service, help or aid rendered in any place in which this article is applicable, by such person to the broker in buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium or cooperative apartment unless such a person be a duly licensed real estate salesperson regularly associated with such broker or a duly licensed real estate broker or a person regularly engaged in the real estate brokerage business in a state outside of New York; provided, however, that notwithstanding any other provision of this section, it shall be permissible for a real estate broker to pay any part of a fee, commission, or other compensation received to an unlicensed corporation or an unlicensed limited liability company if each of its shareholders or members, respectively, is associated as an individual with the broker as a duly licensed associate broker or salesperson. 2. Furthermore, notwithstanding any other provision of law, it shall be permissible for a broker properly registered pursuant to the provisions of article twenty-three-A of the general business law who earns a commission on the original sale of a cooperative or homeowners association interest in real estate, including condominium units to pay any part of a fee, commission or other compensation received for bringing about such sale to a person whose principal business is not the sale or offering of cooperatives or homeowners association interests in real property, including condominium units in this state but who is either: (i) a real estate salesperson duly licensed under this article who is regularly associated with such broker; (ii) a broker duly licensed under this article; or a person regularly engaged in the real estate brokerage business in a state outside of New York. Except when permitted pursuant to the foregoing provisions of this section no real estate broker shall pay or agree to pay any part of a fee, commission, or other compensation received by the broker, or due, or to become due to the broker to any person, firm or corporation who or which is or is to be a party to the transaction in which such fee, commission or other compensation shall be or become due to the broker; provided, however, that nothing in this section shall prohibit a real estate broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant who is buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium or cooperative apartment. Such fee, commission, or other compensation must not be made to the seller, buyer, landlord or tenant for performing any activity requiring a license under this article. Source: Section 442 — Splitting commissions , https://www. nysenate. gov/legislation/laws/RPP/442 (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 442-A Compensation of salespersons restrictions No real estate salesperson in any place in which this article is applicable shall receive or demand compensation of any kind from any person, other than a duly licensed real estate broker with whom they associated, for any service rendered or work done by such salesperson in the appraising, buying, selling, exchanging, leasing, renting or negotiating of a loan upon any real estate. Source: Section 442-A — Compensation of salespersons; restrictions , https://www. nysenate. gov/legislation/laws/RPP/442-A (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 442-B Discontinuance or change of salesperson’s association report When the association of any real estate salesperson shall have been terminated for any reason whatsoever, their broker shall forthwith notify the department of state thereof in such manner as the department shall prescribe. Where change of such salesperson’s association is the basis for such termination, the salesperson’s successor broker shall forthwith notify the department of such change in such manner as the department shall prescribe, such notice to be accompanied by a fee of one dollar. No real estate salesperson shall perform any act within any of the prohibitions of this article from and after the termination for any cause of their association until they thereafter shall have become associated with a licensed real estate broker. Source: Section 442-B — Discontinuance or change of salesperson's association; report , https://www. nysenate. gov/legislation/laws/RPP/442-B (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 442-C Violations by salespersons broker’s responsibility No violation of a provision of this article by a real estate salesperson or employee of a real estate broker shall be deemed to be cause for the revocation or suspension of the license of the broker, unless it shall appear that the broker had actual knowledge of such violation or retains the benefits, profits or proceeds of a transaction wrongfully negotiated by their salesperson or employee after notice of the salesperson’s or employee’s misconduct. A broker shall be guilty of a misdemeanor for having any salesperson associated with their firm who has not secured the required license authorizing such employment. Source: Section 442-C — Violations by salespersons; broker's responsibility , https://www. nysenate. gov/legislation/laws/RPP/442-C (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 442-G Nonresident licensees 1. A nonresident of this state may become a real estate broker or a real estate salesperson by conforming to all of the provisions of this article, except that a nonresident broker regularly engaged in the real estate business as a vocation who is licensed and maintains a definite place of business in another state, which offers the same privileges to the licensed brokers of this state, shall not be required to maintain a place of business within this state. Anything to the contrary herein notwithstanding, if any state prohibits or restricts the right of a resident of this state to become a licensed nonresident real estate broker or salesperson, then the issuance of such a license to an applicant resident in such state shall be similarly restricted. The department of state shall recognize the license issued to a real estate broker or salesperson by another state as satisfactorily qualifying them for license as broker or salesperson, as the case may be, under this section; provided that the laws of the state of which they are a resident require that applicants for licenses as real estate brokers and salespersons shall establish their competency by written examinations but permit licenses to be issued to residents of the State of New York duly licensed under this article, without examination. If the applicant is a resident of a state which has not such requirement then the applicant must meet the examination requirement as provided herein and the department of state shall issue a license to such nonresident broker or salesperson upon payment of the license fee and the filing by the applicant with the department of a certified copy of the applicant’s license issued by such other state. 2. Every nonresident applicant shall file with his application or renewal application an irrevocable consent on a form prescribed by the department of state submitting himself to the jurisdiction of the courts of this state and designating the secretary of state of the state of New York as his agent upon whom may be served any summons, subpoena or other process against him in any action or special proceeding. Such process may issue in any court in this state having jurisdiction of the subject matter, and the process shall set forth that the action or special proceeding is within the jurisdiction of the court. 3. Service of such process upon the secretary of state shall be made by personally delivering to and leaving with him or his deputy or with any person authorized by the secretary of state to receive such service, at the office of the department of state in the city of Albany, duplicate copies of such process together with a fee of five dollars if the action is solely for the recovery of a sum of money not in excess of two hundred dollars and the process is so endorsed, and a fee of ten dollars in any other action or proceeding, which fee shall be a taxable disbursement. If such process is served upon behalf of a county, city, town or village, or other political subdivision of the state, the fee to be paid to the secretary of state shall be five dollars, irrespective of the amount involved or the nature of the action on account of which such service of process is made. If the cost of registered mail for transmitting a copy of the process shall exceed two dollars, an additional fee equal to such excess shall be paid at the time of the service of such process. Proof of service shall be by affidavit of compliance with this subdivision filed by or on behalf of the plaintiff together with the process, within ten days after such service, with the clerk of the court in which the action or special proceeding is pending. Service made as provided in this section shall be complete ten days after such papers are filed with the clerk of the court and shall have the same force and validity as if served on him personally within the state and within the territorial jurisdiction of the court from which the process issues. 4. The secretary of state shall promptly send one of such copies by registered mail, return receipt requested, to the nonresident broker or nonresident salesperson at the post office address of their main office as set forth in the last application filed by him or her. 5. Nothing in this section shall effect the right to serve process in any other manner permitted by law. 6. Notwithstanding any other provisions of this article, the department of state shall grant a real estate broker or a real estate salesperson license to an applicant who is a member of the household of a member of the armed forces of the United States, national guard or reserves and was a member of such household before such member of the armed forces relocated to the state who submits satisfactory evidence of licensure, certification or registration to practice an equivalent occupation issued by a state, territory, protectorate or dependency of the United States, provided that such license, certification or certificate of registration was current and effective within one year of the date of the individual’s application for licensure in New York, was granted in compliance with standards that are, in the judgment of the secretary, no less rigorous than those required for licensure in New York. If such standards for licensure, certification or registration are deemed by the secretary to be less rigorous than those required for licensure in New York, the secretary shall permit an applicant to submit evidence in a form acceptable to the department of state to demonstrate the applicant’s competency and trustworthiness. If such evidence is sufficient in the judgment of the secretary, the secretary shall grant a real estate broker or real estate salesperson license. Source: Section 442-G — Nonresident licensees , https://www. nysenate. gov/legislation/laws/RPP/442-G (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 442-L After-the-fact referral fees 1. No real estate broker or salesperson, in any place in which this article is applicable, shall demand or receive a referral fee or compensation of any kind for (i) a referral from any person or other entity relative to finding a seller after a bona fide listing agreement has been signed, (ii) a referral from any person or other entity relative to finding a buyer after a bona fide offer to purchase is accepted, or (iii) a referral from any person or other entity relative to finding a property after a bona fide buyer’s agency agreement has been signed, unless reasonable cause for payment of such compensation exists. 2. A violation of this section shall be a violation of this article and shall constitute a deceptive act or practice within the meaning of section three hundred forty-nine of the general business law. Source: Section 442-L — After-the-fact referral fees , https://www. nysenate. gov/legislation/laws/RPP/442-L (updated Sep. 22, 2014; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 443 Disclosure regarding real estate agency relationship form 1. Definitions. As used in this section, the following terms shall have the following meanings: a. "Agent" means a person who is licensed as a real estate broker, associate real estate broker or real estate salesperson under § 440-A (License required for real estate brokers and salespersons) section four hundred forty-a of this article and is acting in a fiduciary capacity. b. "Buyer" means a transferee in a residential real property transaction and includes a person who executes an offer to purchase residential real property from a seller through an agent, or who has engaged the services of an agent with the object of entering into a residential real property transaction as a transferee. c. "Buyer’s agent" means an agent who contracts to locate residential real property for a buyer or who finds a buyer for a property and presents an offer to purchase to the seller or seller’s agent and negotiates on behalf of the buyer. d. "Listing agent" means a person who has entered into a listing agreement to act as an agent of the seller or landlord for compensation. e. "Listing agreement" means a contract between an owner or owners of residential real property and an agent, by which the agent has been authorized to sell or lease the residential real property or to find or obtain a buyer or lessee therefor. f. "Residential real property" means real property used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons improved by (i) a one-to-four family dwelling or (ii) condominium or cooperative apartments but shall not refer to unimproved real property upon which such dwellings are to be constructed. g. "Seller" means the transferor in a residential real property transaction, and includes an owner who lists residential real property for sale with an agent, whether or not a transfer results, or who receives an offer to purchase residential real property. h. "Seller’s agent" means a listing agent who acts alone, or an agent who acts in cooperation with a listing agent, acts as a seller’s subagent or acts as a broker’s agent to find or obtain a buyer for residential real property. i. "Dual agent" means an agent who is acting as a buyer’s agent and a seller’s agent or a tenant’s agent and a landlord’s agent in the same transaction. j. "Designated sales agent" means a licensed real estate salesperson or associate broker, working under the supervision of a real estate broker, who has been assigned to represent a client when a different client is also represented by such real estate broker in the same transaction. k. "Broker’s agent" means an agent that cooperates or is engaged by a listing agent, buyer’s agent or tenant’s agent (but does not work for the same firm as the listing agent, buyer’s agent or tenant’s agent) to assist the listing agent, buyer’s agent or tenant’s agent in locating a property to sell, buy or lease respectively, for the listing agent’s seller or landlord, the buyer agent’s buyer or the tenant’s agent tenant. The broker’s agent does not have a direct relationship with the seller, buyer, landlord or tenant and the seller, buyer, landlord or tenant can not provide instructions or direction directly to the broker’s agent. Therefore, the seller, buyer, landlord or tenant do not have vicarious liability for the acts of the broker’s agent. The listing agent, buyer’s agent or tenant’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent, buyer’s agent or tenant’s agent will have liability for the broker’s agent. l. "Tenant" means a lessee in a residential real property transaction and includes a person who executes an offer to lease residential real property from a landlord through an agent, or who has engaged the services of an agent with the object of entering into a residential real property transaction as a lessee. m. "Landlord" means the lessor in a residential real property transaction, and includes an owner who lists residential real property for lease with an agent, whether or not a lease results, or who receives an offer to lease residential real property. n. "Tenant’s agent" means an agent who contracts to locate residential real property for a tenant or who finds a tenant for a property and presents an offer to lease to the landlord or landlord’s agent and negotiates on behalf of the tenant. o. "Landlord’s agent" means a listing agent who acts alone, or an agent who acts in cooperation with a listing agent, acts as a landlord’s subagent or acts as a broker’s agent to find or obtain a tenant for residential real property. p. "Advance consent to dual agency" means written informed consent signed by the seller/landlord or buyer/tenant that the listing agent and/or buyer’s agent may act as a dual agent for that seller/landlord and a buyer/tenant for residential real property which is the subject of a listing agreement. q. "Advance consent to dual agency with designated sales agents" means written informed consent signed by the seller/landlord or buyer/tenant that indicates the name of the agent appointed to represent the seller/landlord or buyer/tenant as a designated sales agent for residential real property which is the subject of a listing agreement. 2. This section shall apply only to transactions involving residential real property. 3. a. A listing agent shall provide the disclosure form set forth in subdivision four of this section to a seller or landlord prior to entering into a listing agreement with the seller or landlord and shall obtain a signed acknowledgment from the seller or landlord, except as provided in paragraph e of this subdivision. b. A seller’s agent or landlord’s agent shall provide the disclosure form set forth in subdivision four of this section to a buyer, buyer’s agent, tenant or tenant’s agent at the time of the first substantive contact with the buyer or tenant and shall obtain a signed acknowledgement from the buyer or tenant, except as provided in paragraph e of this subdivision. c. A buyer’s agent or tenant’s agent shall provide the disclosure form to the buyer or tenant prior to entering into an agreement to act as the buyer’s agent or tenant’s agent and shall obtain a signed acknowledgment from the buyer or tenant, except as provided in paragraph e of this subdivision. A buyer’s agent or tenant’s agent shall provide the form to the seller, seller’s agent, landlord or landlord’s agent at the time of the first substantive contact with the seller or landlord and shall obtain a signed acknowledgment from the seller, landlord or the listing agent, except as provided in paragraph e of this subdivision. d. The agent shall provide to the buyer, seller, tenant or landlord a copy of the signed acknowledgment and shall maintain a copy of the signed acknowledgment for not less than three years. e. If the seller, buyer, landlord or tenant refuses to sign an acknowledgment of receipt pursuant to this subdivision, the agent shall set forth under oath or affirmation a written declaration of the facts of the refusal and shall maintain a copy of the declaration for not less than three years. f. A seller/landlord or buyer/tenant may provide advance informed consent to dual agency and dual agency with designated sales agents by indicating the same on the form set forth in subdivision four of this section. 4. a. For buyer-seller transactions, the following shall be the disclosure form: NEW YORK STATE DISCLOSURE FORM FOR BUYER AND SELLER THIS IS NOT A CONTRACT New York state law requires real estate licensees who are acting as agents of buyers or sellers of property to advise the potential buyers or sellers with whom they work of the nature of their agency relationship and the rights and obligations it creates. This disclosure will help you to make informed choices about your relationship with the real estate broker and its sales agents. Throughout the transaction you may receive more than one disclosure form. The law may require each agent assisting in the transaction to present you with this disclosure form. A real estate agent is a person qualified to advise about real estate. If you need legal, tax or other advice, consult with a professional in that field. DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIPS SELLER’S AGENT A seller’s agent is an agent who is engaged by a seller to represent the seller’s interests. The seller’s agent does this by securing a buyer for the seller’s home at a price and on terms acceptable to the seller. A seller’s agent has, without limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller’s agent does not represent the interests of the buyer. The obligations of a seller’s agent are also subject to any specific provisions set forth in an agreement between the agent and the seller. In dealings with the buyer, a seller’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. BUYER’S AGENT A buyer’s agent is an agent who is engaged by a buyer to represent the buyer’s interests. The buyer’s agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer’s agent has, without limitation, the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer’s agent does not represent the interests of the seller. The obligations of a buyer’s agent are also subject to any specific provisions set forth in an agreement between the agent and the buyer. In dealings with the seller, a buyer’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyer’s ability and/or willingness to perform a contract to acquire seller’s property that are not inconsistent with the agent’s fiduciary duties to the buyer. BROKER’S AGENTS A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyer’s agent (but does not work for the same firm as the listing agent or buyer’s agent) to assist the listing agent or buyer’s agent in locating a property to sell or buy, respectively, for the listing agent’s seller or the buyer agent’s buyer. The broker’s agent does not have a direct relationship with the buyer or seller and the buyer or seller can not provide instructions or direction directly to the broker’s agent. The buyer and the seller therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyer’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyer’s agent will have liability for the acts of the broker’s agent. DUAL AGENT A real estate broker may represent both the buyer and the seller if both the buyer and seller give their informed consent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary duties to the buyer and seller. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the buyer and seller. An agent acting as a dual agent must explain carefully to both the buyer and seller that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the buyer and seller are giving up their right to undivided loyalty. A buyer or seller should carefully consider the possible consequences of a dual agency relationship before agreeing to such representation. A seller or buyer may provide advance informed consent to dual agency by indicating the same on this form. DUAL AGENT WITH DESIGNATED SALES AGENTS If the buyer and the seller provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer and another sales agent to represent the seller to negotiate the purchase and sale of real estate. A sales agent works under the supervision of the real estate broker. With the informed consent of the buyer and the seller in writing, the designated sales agent for the buyer will function as the buyer’s agent representing the interests of and advocating on behalf of the buyer and the designated sales agent for the seller will function as the seller’s agent representing the interests of and advocating on behalf of the seller in the negotiations between the buyer and seller. A designated sales agent cannot provide the full range of fiduciary duties to the buyer or seller. The designated sales agent must explain that like the dual agent under whose supervision they function, they cannot provide undivided loyalty. A buyer or seller should carefully consider the possible consequences of a dual agency relationship with designated sales agents before agreeing to such representation. A seller or buyer may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by ____________________ (print name of licensee) of ____________________________ (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the: ( ) Seller as a ( ) Buyer as a (check relationship below) (check relationship below) ( ) Seller’s agent ( ) Buyer’s agent ( ) Broker’s agent ( ) Broker’s agent ( ) Dual agent ( ) Dual agent with designated sales agents For advance informed consent to either dual agency or dual agency with designated sales agents complete section below: ( ) Advance informed consent dual agency. ( ) Advance informed consent to dual agency with designated sales agents. If dual agent with designated sales agents is indicated above: ____________________ is appointed to represent the buyer; and ____________________ is appointed to represent the seller in this transaction. (I)(We) acknowledge receipt of a copy of this disclosure form: Signature of { } Buyer(s) and/or { } Seller(s): ____________________ ____________________ ____________________ ____________________ Date:_______________ Date:_______________ b. For landlord-tenant transactions, the following shall be the disclosure form: NEW YORK STATE DISCLOSURE FORM FOR LANDLORD AND TENANT THIS IS NOT A CONTRACT New York state law requires real estate licensees who are acting as agents of landlords and tenants of real property to advise the potential landlords and tenants with whom they work of the nature of their agency relationship and the rights and obligations it creates. This disclosure will help you to make informed choices about your relationship with the real estate broker and its sales agents. Throughout the transaction you may receive more than one disclosure form. The law may require each agent assisting in the transaction to present you with this disclosure form. A real estate agent is a person qualified to advise about real estate. If you need legal, tax or other advice, consult with a professional in that field. DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIPS LANDLORD’S AGENT A landlord’s agent is an agent who is engaged by a landlord to represent the landlord’s interest. The landlord’s agent does this by securing a tenant for the landlord’s apartment or house at a rent and on terms acceptable to the landlord. A landlord’s agent has, without limitation, the following fiduciary duties to the landlord: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A landlord’s agent does not represent the interests of the tenant. The obligations of a landlord’s agent are also subject to any specific provisions set forth in an agreement between the agent and the landlord. In dealings with the tenant, a landlord’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. TENANT’S AGENT A tenant’s agent is an agent who is engaged by a tenant to represent the tenant’s interest. The tenant’s agent does this by negotiating the rental or lease of an apartment or house at a rent and on terms acceptable to the tenant. A tenant’s agent has, without limitation, the following fiduciary duties to the tenant: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A tenant’s agent does not represent the interest of the landlord. The obligations of a tenant’s agent are also subject to any specific provisions set forth in an agreement between the agent and the tenant. In dealings with the landlord, a tenant’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the tenant’s ability and/or willingness to perform a contract to rent or lease landlord’s property that are not inconsistent with the agent’s fiduciary duties to the buyer. BROKER’S AGENTS A broker’s agent is an agent that cooperates or is engaged by a listing agent or a tenant’s agent (but does not work for the same firm as the listing agent or tenant’s agent) to assist the listing agent or tenant’s agent in locating a property to rent or lease for the listing agent’s landlord or the tenant agent’s tenant. The broker’s agent does not have a direct relationship with the tenant or landlord and the tenant or landlord can not provide instructions or direction directly to the broker’s agent. The tenant and the landlord therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or tenant’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or tenant’s agent will have liability for the acts of the broker’s agent. DUAL AGENT A real estate broker may represent both the tenant and the landlord if both the tenant and landlord give their informed consent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary duties to the landlord and the tenant. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the tenant and landlord. An agent acting as a dual agent must explain carefully to both the landlord and tenant that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the landlord and tenant are giving up their right to undivided loyalty. A landlord and tenant should carefully consider the possible consequences of a dual agency relationship before agreeing to such representation. A landlord or tenant may provide advance informed consent to dual agency by indicating the same on this form. DUAL AGENT WITH DESIGNATED SALES AGENTS If the tenant and the landlord provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the tenant and another sales agent to represent the landlord. A sales agent works under the supervision of the real estate broker. With the informed consent in writing of the tenant and the landlord, the designated sales agent for the tenant will function as the tenant’s agent representing the interests of and advocating on behalf of the tenant and the designated sales agent for the landlord will function as the landlord’s agent representing the interests of and advocating on behalf of the landlord in the negotiations between the tenant and the landlord. A designated sales agent cannot provide the full range of fiduciary duties to the landlord or tenant. The designated sales agent must explain that like the dual agent under whose supervision they function, they cannot provide undivided loyalty. A landlord or tenant should carefully consider the possible consequences of a dual agency relationship with designated sales agents before agreeing to such representation. A landlord or tenant may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form. This form was provided to me by _____________________ (print name of licensee) of __________________ (print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the: ( ) Landlord as a ( ) Tenant as a (check relationship below) (check relationship below) ( ) Landlord’s agent ( ) Tenant’s agent ( ) Broker’s agent ( ) Broker’s agent ( ) Dual agent ( ) Dual agent with designated sales agents For advance informed consent to either dual agency or dual agency with designated sales agents complete section below: ( ) Advance informed consent dual agency. ( ) Advance informed consent to dual agency with designated sales agents. If dual agent with designated sales agents is indicated above: _________________________ is appointed to represent the tenant; and _________________________ is appointed to represent the landlord in this transaction. (I) (We) _____________________________________________ acknowledge receipt of a copy of this disclosure form: Signature of { } Landlord(s) and/or { } Tenant(s): ______________________________________________________ _______________________________________________________ Date: _______________ Date: ________________ 5. This section shall not apply to a real estate licensee who works with a buyer, seller, tenant or landlord in accordance with terms agreed to by the licensee and buyer, seller, tenant or landlord and in a capacity other than as an agent, as such term is defined in paragraph a of subdivision one of this section. 6. Nothing in this section shall be construed to limit or alter the application of the common law of agency with respect to residential real estate transactions. Source: Section 443 — Disclosure regarding real estate agency relationship; form , https://www. nysenate. gov/legislation/laws/RPP/443 (updated Aug. 19, 2022; accessed Aug. 1, 2026).

N.Y. Real Property Law Section 443-A Disclosure obligations 1. Notwithstanding any other provision of law, it is not a material defect or fact relating to property offered for sale or lease, including residential property regardless of the number of units contained therein, that: (a) an owner or occupant of the property is, or was at any time suspected to be, infected with human immunodeficiency virus or diagnosed with acquired immune deficiency syndrome or any other disease which has been determined by medical evidence to be highly unlikely to be transmitted through occupancy of a dwelling place; or (b) the property is, or is suspected to have been, the site of a homicide, suicide or other death by accidental or natural causes, or any crime punishable as a felony. 2. (a) No cause of action shall arise against an owner or occupant of real property, or the agent of such owner or occupant, or the agent of a seller or buyer of real property, for failure to disclose in any real estate transaction a fact or suspicion contained in subdivision one of this section. (b) Failure to disclose a fact contained in subdivision one of this section to a transferee shall not be grounds for a disciplinary action against a real estate agent or broker licensed pursuant to this article. (c) As used in this section, the terms "agent", "buyer" and "seller" shall have the same meanings as such terms are defined in § 443 (Disclosure regarding real estate agency relationship) section four hundred forty-three of this article . 3. Notwithstanding the fact that this information is not a material defect or fact, if such information is important to the decision of the buyer to purchase or lease the property, the buyer may, when negotiating or making a bona fide offer, submit a written inquiry for such information. The buyer or the agent of the buyer shall provide the written request to the seller’s agent or to the seller if there is no seller’s agent. The seller may choose whether or not to respond to the inquiry. The seller’s agent, with the consent of the seller and subject to applicable laws regarding privacy, shall report any response and information to the buyer’s agent or to the buyer if there is no buyer’s agent. If there is no seller’s agent, the seller shall inform the buyer’s agent, or the buyer if there is no buyer’s agent, whether or not the seller chooses to provide a response. 4. This section shall preempt any local law inconsistent with the provisions of this section. Source: Section 443-A — Disclosure obligations , https://www. nysenate. gov/legislation/laws/RPP/443-A (updated Sep. 22, 2014; accessed Aug. 1, 2026).

A real estate broker shall not commingle the money or other property of his principal with his own and shall at all times maintain a separate, special bank account to be used exclusively for the deposit of said monies and which deposit shall be made within three business days. Until such time as the money is deposited into a separate, special bank account, it shall be safeguarded in a secure location so as to prevent loss or misappropriation. Said monies shall not be placed in any depository, fund or investment other than a federally insured bank account. Accrued interest, if any, shall not be retained by, or for the benefit of, the broker except to the extent that it is applied to, and deducted from, earned commission, with the consent of all parties.

A real estate broker shall, within a reasonable time, render an account to his client and remit to him, any monies collected for his client, and unexpended for his account.

(a) When acting as an agent in the management of property a real estate broker shall not accept any commission, rebate or profit on expenditures made for his client without his full knowledge and consent. (b) A person, firm or corporation licensed or acting as a real estate broker, and having on deposit or otherwise in custody or control any money furnished as security by a tenant of real property, shall treat, handle and dispose of such money (including any required interest thereon) in compliance with the requirements of section 7-103 of the General Obligations Law. Failure to so comply, including failure to pay, apply or credit any required interest, shall constitute grounds for disciplinary or other appropriate action by the Secretary of State.

A real estate broker shall not directly or indirectly buy for himself property listed with him, nor shall he acquire any interest therein without first making his true position clearly known to the listing owner.

A real estate broker shall make it clear for which party he is acting and he shall not receive compensation from more than one party except with the full knowledge and consent of the broker's client.

No real estate broker shall induce any party to a contract of sale or lease to break such contract for the purpose of substituting in lieu thereof a new contract with another principal.

A real estate broker shall immediately deliver a copy of any instrument to any party or parties executing the same, where such instrument has been prepared by such broker or under his supervision and where such instrument relates to the employment of the broker or to any matters pertaining to the consummation of a lease, or the purchase, sale or exchange of real property or any other type of real estate transaction in which he may participate as a broker.

A real estate broker shall not accept the services of any salesman or employee in the organization of another real estate broker without the knowledge of the broker and no real estate broker should give or permit to be given or directly offer to give anything of value for the purpose of influencing or rewarding the actions of any salesman or employee of another real estate broker in relation to the business of such broker or the client of such broker without the knowledge of such broker.

A real estate salesman shall, upon termination of his association with a real estate broker, forthwith turn over to such broker any and all listing information obtained during his association whether such information was originally given to him by the broker or copied from the records of such broker or acquired by the salesman during his association.

(a) (1) No broker or salesperson shall induce or attempt to induce an owner to sell or lease any residential property or to list same for sale or lease by making any representations regarding the entry or prospective entry into the neighborhood of a person or persons of a particular race, color, religion, national origin, age, sex, sexual orientation, disability, gender identity, military status, familial status or any other protected category under any Federal, State or local law applicable to the activities of real estate licensees in New York State (2) (i) No licensed real estate broker or salesperson shall solicit the sale, lease, or the listing for sale or lease of residential property after such licensee has received written notice from an owner thereof that such owner or owners do not desire to sell, lease, or list such property. (ii) Notice provided under the provisions of this subdivision to a real estate broker shall constitute notice to all associate brokers and salespersons who are employed by the real estate broker.

(a) The term net listing as used herein shall mean an agency or other agreement whereby a prospective seller of real property or an interest therein, lists such property or interest for sale with a licensed real estate broker authorizing the sale thereof at a specified net amount to be paid to the seller and authorizing the broker to retain as commission, compensation, or otherwise, the difference between the price at which the property or interest is sold and the specified net amount to be received by the seller. (b) No real estate broker shall make or enter into a "net listing" contract for the sale of real property or any interest therein.

(a) The supervision of a real estate salesman by a licensed real estate broker, required by subdivision 1(d) of section 441 of the Real Property Law, shall consist of regular, frequent and consistent personal guidance, instruction, oversight and superintendence by the real estate broker with respect to the general real estate brokerage business conducted by the broker, and all matters relating thereto. (b) The broker and salesman shall keep written records of all real estate listings obtained by the salesman, and of all sales and other transactions effected by, and with the aid and assistance of, the salesman, during the period of his association, which records shall be sufficient to clearly identify the transactions and shall indicate the dates thereof. Such records must be submitted by the salesman to the Department of State with his application for a broker's license. (c) Participation in the general real estate brokerage business as a licensed real estate salesman shall consist of active service under the supervision of a licensed real estate broker for at least 35 hours per week for 50 weeks in each year required for qualification under the law.

No licensed real estate salesman may own, either singly or jointly, directly or indirectly, any voting shares of stock in any licensed real estate brokerage corporation with which he is associated.

(a) Each licensed broker shall keep and maintain for a period of three years, paper and/or electronic records of each transaction effected through his or her office concerning the sale of real property used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons improved by a one-to-four family dwelling, or a condominium or cooperative apartments but shall not refer to unimproved real property upon which such dwellings are to be constructed. Records to be kept and maintained shall contain: (1) the names and addresses of the seller and the buyer; (2) the broker prepared purchase contract or binder, or if the purchase contract is not prepared by the broker, then the purchase price and the amount of deposit (if collected by broker); (3) the amount of commission paid to broker; (4) the gross profit realized by the broker if purchased by him or her for resale; (5) any document required under article 12-A of the Real Property Law; and (6) the listing agreement or commission agreement or buyer-broker agreement.

(a) Definitions. (1) Advertising and advertisement mean promotion and solicitation related to licensed real estate activity, including but not limited to, advertising via mail telephone, websites, e-mail, electronic bulletin boards, business cards, signs, billboards, and flyers. Advertising and advertisement shall not include commentary made by a duly licensed real estate salesperson, real estate associate broker or real estate broker that is not related to promoting licensed real estate activity. (2) Team means two or more persons, one of whom must be an associate real estate broker or real estate salesperson, associated with the same real estate brokerage who hold themselves out or operate as a team. (3) Real estate brokerage means a real estate company represented by a real estate broker. (4) Logo means a graphic mark used to identify a real estate broker, associate broker, salesperson or team, but not a photograph of a real estate broker, associate broker, salesperson or team contained in an advertisement. (5) Property means real property or shares of stock in a cooperative corporation.

(a) A real estate broker shall be responsible to ensure that each individual licensed pursuant to Article 12-A of the New York Real Property Law and associated with such broker provides to a prospective purchaser, tenant, seller, or landlord upon first substantive contact a disclosure notice furnished by the Department, containing substantive provisions of the New York State Human Rights Law. The disclosure notice shall set forth how Human Rights Law complaints may be filed, and such other information as the Department deems pertinent. (b) The disclosure notice required pursuant to paragraph (a) of this section, may be provided to a prospective purchaser, tenant, seller, or landlord by any of the following means: email, text, electronic messaging system, facsimile, or hardcopy. An electronic communication containing a link to the disclosure notice required pursuant to paragraph (a) of this section shall be permissible, provided the communication also contains text to inform the prospective purchaser, tenant, seller, or landlord that the link contains information regarding the New York State Human Rights Law. Oral disclosure does not satisfy the requirements imposed by this section. (c) The disclosure notice required by paragraph (a) of this section shall apply to all real property whether or not it is used or occupied, or intended to be used or occupied, wholly or partly, as a home or residence of one or more persons regardless of the number of units, and shall include: condominiums; cooperative apartments; vacant lands, including unimproved real property upon which such dwellings are to be constructed; or commercial properties. (d) A real estate broker, licensed real estate salesperson, or licensed associate broker that provides the disclosure notice required pursuant to this section by hardcopy, shall obtain a signed acknowledgment from the prospective buyer, tenant, seller, or landlord. Such signed disclosure notice shall be retained for not less than three years. A real estate broker, licensed real estate salesperson, or licensed associate broker that provides the disclosure notice required pursuant to this section by email, text, electronic messaging system, or facsimile, shall maintain a duplicate copy of such disclosure and shall retain the same for not less than three years. If the prospective buyer, tenant, seller, or landlord declines to sign the disclosure notice, the real estate broker, licensed real estate salesperson or licensed associate broker shall set forth under oath or affirmation a written declaration of the facts regarding when such notice was provided and shall maintain a copy of the declaration for not less than three years.

(a) A real estate broker shall display and maintain at every office and branch office operated by such broker a notice, furnished by the Department, indicating the substantive provisions of the New York State Human Rights Law relative to housing accommodations. The notice shall set forth how Human Rights Law complaints may be filed and such other information as the Department deems pertinent. (b) The notice required by paragraph (a) of this section shall be prominently displayed in the window of such office and any branch office maintained by such broker if such broker also provides listings or other postings in the window of such location and must be visible to persons on that portion of the sidewalk adjacent to such office or branch office. If any office or branch office is not accessible from the sidewalk or if postings are otherwise prohibited by any other applicable law, then the notice required pursuant to paragraph (a) of this section shall be prominently posted in the same location the business license is posted pursuant to subdivision 3 of section 441-a of article 12 of the Real Property Law. (c) All websites created and maintained by real estate brokers, associate real estate brokers, real estate salespersons and any real estate team, as such term is defined by section 175.25 of this title, shall prominently and conspicuously display on the homepage of such website a link to the Department's notice as required by paragraph (a) of this section, which shall be made available by the Department. (d) A real estate broker, licensed real estate salesperson, or licensed associate broker shall have displayed at all open houses of all real property the notice required by paragraph (a) of this section. In addition, a real estate broker, licensed real estate agent, or licensed associate broker shall have available at all open houses and showings of all real property the notice required by paragraph (a) of section 175.28 of this part.