N.Y. Comp. Codes R. & Regs. tit. 19 § 175.19

Current through Register Vol. 46, No. 45, November 2, 2024

Section 175.19 - Net listing agreements

(a) The term net listing as used herein shall mean an agency or other agreement whereby a prospective seller of real property or an interest therein, lists such property or interest for sale with a licensed real estate broker authorizing the sale thereof at a specified net amount to be paid to the seller and authorizing the broker to retain as commission, compensation, or otherwise, the difference between the price at which the property or interest is sold and the specified net amount to be received by the seller.

(b) No real estate broker shall make or enter into a "net listing" contract for the sale of real property or any interest therein.

N.Y. Comp. Codes R. & Regs. Tit. 19 § 175.19