New York S 7499: Relates to the definition and term of real estate listing agreements

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S07499 Summary:

BILL NOS07499 

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SAME ASSAME AS A08120

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SPONSORMAY

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COSPNSRCOMRIE

&nbsp

MLTSPNSR

&nbsp

Add §442-m, RP L

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Relates to the definition and term of real estate listing agreements; provides that no real estate broker shall be a party to a listing agreement if such agreement is for a period longer than two years; provides that a listing agreement shall not be enforceable if the agreement is for a period longer than two years.

Go to top S07499 Actions:

BILL NOS07499 

&nbsp

04/21/2025REFERRED TO JUDICIARY

01/07/2026REFERRED TO JUDICIARY

05/12/20261ST REPORT CAL.1017

05/13/20262ND REPORT CAL.

05/14/2026ADVANCED TO THIRD READING 

05/29/2026PASSED SENATE

05/29/2026DELIVERED TO ASSEMBLY

05/29/2026referred to judiciary

Go to topS07499 Committee&nbspVotes:

Go to topS07499 Floor&nbspVotes:

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

Go to topS07499 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7499

 2025-2026 Regular Sessions

 IN SENATE

 April 21, 2025
 ___________

 Introduced by Sen. MAY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Judiciary

 AN ACT to amend the real property law, in relation to the definition and
 term of real estate listing agreements

 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. Listing agreements. 1. For the purposes of this section,
 4 "listing agreement" means a contract between an owner or owners of resi-
 5 dential real property and an agent, by which the agent has been author-
 6 ized to sell or lease the residential real property or to find or obtain
 7 a buyer or lessee therefor.
 8 2. No real estate broker shall be a party to a listing agreement if
 9 such agreement is for a period longer than two years.
 10 3. A listing agreement shall not be enforceable if the agreement is
 11 for a period longer than two years.
 12 4. Nothing shall prohibit the renewal of a listing agreement upon or
 13 prior to the fixed termination date set forth in such agreement,
 14 provided, however, no real estate broker shall be a party to an exclu-
 15 sive listing agreement which shall contain an automatic continuation of
 16 the period of such listing beyond the fixed termination date set forth
 17 in such agreement.
 18 § 2. This act shall take effect one year after it shall have become a
 19 law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11570-01-5

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