New York A08120 limits real estate listing agreements to a maximum of two years.

New York A08120 amends the real property law by adding a new section on real estate listing agreements. It defines a "listing agreement" as a contract between property owners and an agent authorized to sell or lease the property. The bill prohibits real estate brokers from being a party to any listing agreement exceeding two years. Additionally, any listing agreement longer than two years is declared unenforceable. Renewal of a listing agreement is allowed before or on the fixed termination date, except for exclusive agreements with automatic continuation clauses.

New York A08120 limits real estate listing agreements to a maximum of two years.

New York A08120 amends the real property law by adding a new section on real estate listing agreements. It defines a "listing agreement" as a contract between property owners and an agent authorized to sell or lease the property. The bill prohibits real estate brokers from being a party to any listing agreement exceeding two years. Additionally, any listing agreement longer than two years is declared unenforceable. Renewal of a listing agreement is allowed before or on the fixed termination date, except for exclusive agreements with automatic continuation clauses.