New York S09564 mandates that buyer broker agreements for real estate services must clearly disclose compensation details.

New York S09564 amends the real property law to require buyer broker agreements to include specific disclosures about compensation for real estate services. These agreements must clearly and conspicuously state that compensation is not set by law and is fully negotiable. Additionally, the agreements must include the names, addresses, and contact information of all parties involved, the length of the agreement, the type of agency relationship, and the terms of compensation. Real estate brokers must retain a copy of these signed agreements for at least three years.

New York S09564 mandates that buyer broker agreements for real estate services must clearly disclose compensation details.

New York S09564 amends the real property law to require buyer broker agreements to include specific disclosures about compensation for real estate services. These agreements must clearly and conspicuously state that compensation is not set by law and is fully negotiable. Additionally, the agreements must include the names, addresses, and contact information of all parties involved, the length of the agreement, the type of agency relationship, and the terms of compensation. Real estate brokers must retain a copy of these signed agreements for at least three years.