Updated January 09, 2022
A New York real estate agent listing agreement is a written contract between a real estate broker and an individual in the market to sell a piece of property. Once a listing agreement is signed, the individual becomes the agent’s client, and the agent must represent their client to the best of their ability in an attempt to procure a fair offer for the property. This obligation is mutually beneficial, as the agent will receive a commission (percentage of the sale price) once the sale is finalized. It’s important that clients understand that they are able to negotiate the terms of the commission/fee before the agreement is signed. The agent should receive a fair percentage but only if the sale is finalized and the appropriate efforts have been made on their part.
Agency Disclosure Form (RPP § 443) – New York real estate agents must provide all potential clients with the standardized agency disclosure form set forth in Section 443 of Real Property Law.
Dual Agency (RPP § 443) – Dual agency is permitted as long as both parties provide written consent. Agent’s obligations remain relatively similar, however, some fiduciary duties will change.
Property Disclosure Statement (RPP § 462) – A seller of real property must deliver to the buyer or buyer’s agent a copy of this standardized disclosure statement.
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MLS Version
New York MLS Exclusive Right to Sell Listing Agreement – Adobe PDF