New York License Law
A New York real estate licensee who wants to refer a client to another agent in a different state and receive a referral fee must:
AObtain a license in the other state
BEnsure the agent receiving the referral is licensed in that state; New York licensees may receive referral fees from out-of-state licensees✓ Correct
CHave the client sign a release
DRegister the referral with the DOS within 30 days
Explanation
A New York licensee may pay or receive referral fees with or from licensees in other states, as long as the agent in the state where the real estate services are performed holds a valid license in that state. New York licensees do not need to be licensed in the other state to receive a referral fee; they simply must not perform any real estate services in the other state.
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