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 Oct. 26, 2024).

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 442-L’s source at nysenate​.gov

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