The New York Assembly Bill A9175 was signed by the governor and requires real estate brokers to institute standardized operating procedures (SOP) for the prerequisites prospective homebuyers shall meet prior to receiving any services.
"This is a bill trying to get at discrimination against individuals looking to purchase a home," said Mike Kelly, director of Government Affairs for NY State Association of Realtors. "The bill says to the broker that you have to notify the prospective client your position on at least three things: identification, pre-qualification, and exclusive right to represent. The statute doesn't prescribe how you have to treat those things, whether you require them or not. It says that you have to provide that statement that says you are going to require them or not and that you have to put the SOP on a public facing website, [mobile device application they maintain], and posted in your offices."
Whatever direction you decide to go in, create the SOP form, get it notarized, and make sure you treat every client the same way. Click to get the form:
Then make sure it's on the brokerage website and every agent's website (at least a link to it on the brokerage site).
If you don't have a website, contact NY State MLS at office@NYStateMLS.com and we can create one for you including your SOP, your listings, marketing, contact information and more.
This regulation is effective April 20, 2022 so don't delay getting this up on your website.
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