New York License Law
Under New York law, a licensed real estate salesperson may receive compensation for real estate services:
ADirectly from buyers, sellers, or landlords
BOnly through the broker with whom the salesperson is associated✓ Correct
CFrom any party to a transaction, provided it is disclosed
DFrom any party, as long as it does not exceed the broker's commission
Explanation
Under New York Real Property Law, a salesperson may only receive compensation through their sponsoring broker. A salesperson cannot receive payment directly from a buyer, seller, landlord, or tenant.
Related New York New York License Law Questions
- The New York DOS may revoke a license 'for cause.' Which of the following would NOT constitute cause for revocation?
- In New York, a broker's license may be revoked or suspended for all of the following EXCEPT:
- New York Real Property Law Article 12-A requires a salesperson applicant to demonstrate:
- Under New York Real Property Law, which of the following is a required element for a valid listing agreement?
- In New York, a broker who employs an unlicensed person to negotiate real estate transactions is subject to:
- In New York, a broker who allows their license to lapse for more than two years must:
- In New York, real estate salesperson applicants must complete how many hours of pre-license education?
- In New York, a 'dual license' (holding both a real estate license and another professional license) is:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →