New York A 8910: Establishes a highway and depot charging needs evaluation

Bill Text

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A08910 Summary:

BILL NOA08910 

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SAME ASSAME AS S09564

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SPONSORCruz

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COSPNSR

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MLTSPNSR

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Add §442-m, amd §443, RP L

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Requires buyer broker agreements which clearly and conspicuously contain disclosures regarding compensation for certain real estate services.

Go to top A08910 Actions:

BILL NOA08910 

&nbsp

07/16/2025referred to judiciary

01/07/2026referred to judiciary

Go to topA08910 Committee&nbspVotes:

Go to topA08910 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA08910 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8910

 2025-2026 Regular Sessions

 IN ASSEMBLY

 July 16, 2025
 ___________

 Introduced by M. of A. CRUZ -- read once and referred to the Committee
 on Judiciary

 AN ACT to amend the real property law, in relation to requiring buyer
 broker agreements for certain real estate services

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The real property law is amended by adding a new section
 2 442-m to read as follows:
 3 § 442-m. Written buyer agreements. 1. A real estate broker must pres-
 4 ent a written buyer broker agreement to a buyer, as defined in section
 5 four hundred forty-three of this article. A real estate broker is
 6 prohibited from providing services to a buyer as a buyer's agent unless
 7 a written buyer broker agreement has been signed by such broker and
 8 buyer. A buyer broker agreement must contain the following:
 9 (a) Clearly and conspicuously contain the following disclosure:
 10 "Compensation is not set by law and is fully negotiable.";
 11 (b) The name, address and contact information for all parties to the
 12 agreement;
 13 (c) The length of the agreement including the length of any condition
 14 under which the real estate broker may still have a claim for compen-
 15 sation after the agreement expires;
 16 (d) The type of agency relationship between the buyer and the real
 17 estate broker; and
 18 (e) The terms of compensation, including:
 19 (i) The amount the buyer agrees to compensate the real estate broker;
 20 (ii) How the amount of compensation will be determined;
 21 (iii) When compensation is earned by the real estate broker;
 22 (iv) When compensation is due to the real estate broker;
 23 (v) The consent of the buyer if the real estate broker will share any
 24 compensation with another broker;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13404-02-5

 A. 8910 2

 1 (vi) The consent of the buyer if the broker will be requesting any
 2 compensation from another party; and
 3 (vii) The consent of the buyer if the broker will be compensated by
 4 more than one party.
 5 2. A real estate broker shall retain a copy of a signed buyer broker
 6 agreement for not less than three years.
 7 § 2. Paragraph c of subdivision 1 of section 443 of the real property
 8 law, as amended by chapter 549 of the laws of 2007, is amended and a new
 9 paragraph r is added to read as follows:
 10 c. "Buyer's agent" means an agent who contracts to locate residential
 11 real property for a buyer or who finds a buyer for a property [and]
 12 and/or presents an offer to purchase to the seller or seller's agent and
 13 negotiates on behalf of the buyer.
 14 r. "Buyer broker agreement" means a contract, as set forth in section
 15 four hundred forty-two-m of this article, between a buyer or buyers of
 16 residential real property and an agent, by which the agent has been
 17 authorized to locate residential real property for a buyer or who finds
 18 a buyer for a property and/or presents an offer to purchase to the sell-
 19 er or seller's agent and negotiates on behalf of the buyer. Such agree-
 20 ments may be exclusive or non-exclusive.
 21 § 3. Paragraphs a, b, c and f of subdivision 3 of section 443 of the
 22 real property law, paragraphs a, b and c as amended by chapter 549 of
 23 the laws of 2007, and paragraph f as added by chapter 443 of the laws of
 24 2010, are amended to read as follows:
 25 a. A listing agent shall provide the agency disclosure form set forth
 26 in subdivision four of this section to a seller or landlord prior to
 27 entering