New York License Law
Which of the following BEST describes the New York DOS's role in a real estate transaction dispute between a buyer and seller?
AThe DOS acts as an arbitrator and resolves disputes between buyers and sellers
BThe DOS's primary role is to regulate licensees; contract disputes between buyers and sellers are resolved through courts or arbitration✓ Correct
CThe DOS guarantees all transactions are completed as agreed
DThe DOS requires all disputes to be filed with them within 30 days
Explanation
The DOS regulates the conduct of real estate licensees, not the outcome of real estate transactions. Contract disputes between buyers and sellers are private civil matters resolved through litigation, mediation, or arbitration, not DOS proceedings.
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