Agency
Under New York agency law, 'subagency' means:
AA buyer's agent working for less than a full commission
BA cooperating broker or salesperson who acts as an agent of the listing broker, and therefore the seller✓ Correct
CAn unlicensed assistant helping a licensed agent
DAn attorney acting on behalf of a real estate agent
Explanation
Subagency exists when a cooperating broker (e.g., MLS participant) acts on behalf of the listing broker and, through that relationship, becomes an agent of the seller. New York disclosure rules require that this relationship be disclosed to buyers.
Related New York Agency Questions
- Under New York RPL section 443, the agency disclosure must be given at the first 'substantive contact.' This is defined as:
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