New York License Law
The New York Real Estate License Law requires that all listing and buyer representation agreements:
ABe exclusively verbal to protect clients
BBe in writing and clearly define the terms of the agency relationship✓ Correct
CBe submitted to the DOS for approval
DOnly cover residential properties
Explanation
New York requires that listing agreements and buyer representation agreements be in writing to be enforceable. They must define the terms of the agency relationship, compensation, and term of the agreement.
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