A New York real estate listing agreement is used when a residential property owner wishes to give a real estate broker permission to list, market, and sell their real property. The document details the listing price, location of the property, the agent’s commission, and if the seller allows for dual agency.
The agreement also allows the seller to determine the marketing that will be allowed to take place, such as photography services or if the property may be listed on third-party websites. The broker will be permitted to list and attempt the sale of the property upon the execution of this contract.
- Dual Agency (RPP § 443(3)(f)) – Dual agency is allowed in the state of New York provided that both buyer and seller provide written consent.
- Purchase Agreement – The buyer and seller of a property may sign this document once they reach an agreement on the terms and conditions of a real estate transaction.
Agency Disclosure (RPP § 443) – If the property was built before 1978, this federally mandated document must be provided to the home buyer to disclose whether or not the property has traces of toxic paint.
Property Disclosure Statement (§ 462) – This document must be provided to all potential buyers describing any issues or pertinent information about the property; if it is not provided the seller will need to pay the buyer a $500 fee.