Menu

24. Referral Fees/Out of State Broker

Opinion Letter 92-45 (Bruce M. Breitman) - California broker seeks to lease space in NYC must co-broke with NYS licensed broker (even if all activity is from his California office by phone and fax). If client consents, may be paid a share of compensation as tenant's agent, as long as makes clear to all parties that he is acting as such (cf. 19 NYCRR §175.7)

Opinion Letter 93-3 (Anthony J. Tripodi) - out of state relocation company which is a real estate broker can be paid a referral fee; but not if NYS licensee knows it will be passed along to non-licensee "member" (RPL §442)

1462 DOS 08 Matter of Karl – home inspection; referral fees; failure to disclose affiliation; subcontracting without notice; $400 restitution and revocation

Featured Content

Third quarter Legal Lines now available

The third quarter 2018 edition of NYSAR’s Legal Lines is now available online at NYSAR.com. This edition covers what a broker's agent actually is, the legal issues related to social media use, conditional approval for financing is not a mortgage commitment and more. Learn more

legal-NYSAR-180x150-2016
Legal