N.Y. General Business Law Section 350-F-1
After-the-fact referral fees


1.

No person, firm, partnership, corporation, association, or other entity 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 of real property after a bona fide real estate listing agreement has been signed, (ii) a referral from any person or other entity relative to finding a buyer for real property after a bona fide offer to purchase real property is accepted, or

(iii)

a referral from any person or other entity relative to finding real property after a bona fide buyer’s agency agreement has been signed, unless reasonable cause for payment of such compensation exists.

2.

Any violation of subdivision one of this section shall constitute a deceptive act or practice within the meaning of section three hundred forty-nine of this article.

Source: Section 350-F-1 — After-the-fact referral fees, https://www.­nysenate.­gov/legislation/laws/GBS/350-F-1 (updated Sep. 22, 2014; accessed Apr. 20, 2024).

Accessed:
Apr. 20, 2024

Last modified:
Sep. 22, 2014

§ 350-F-1’s source at nysenate​.gov

Link Style