Standardized Operating Procedures pertaining to New York State Chapter 153 of the Laws of 2022

Essentially, the law requires notification of perspective buyers of Realtor policy in NYS regarding showings, exclusive broker agreement, and pre-approval letter, etc.

The law can be accessed here: Chapter 153 of the Laws of 2022

The reason for the law is that in the current housing market the unprecedented lack of inventory has created a market where buyers who are not in a position to buy are rejected by sellers and not permitted showings. This is largely due to the Covid-19 pandemic that has exasperated the lack of inventory as owners do not want to have unknown individual entering their home unless they are currently buyers.

In addition, sellers are not accepting offers that do not include current pre-qualification letters.

In compliance with this law, Real Estate New York group policy is that although we do not require an exclusive broker agreement, we do require a pre-qualification letter at this time. This policy does not apply to our open house events.

In addition, we reserve the right to work with clients we prefer based entirely on our personal opinion of their ability to complete a transaction and never on any type of discrimination. We treat all parties equally in accordance with all Fair Housing and Discrimination laws. Please see our Fair Housing Notification

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