Relates to the definition and term of real estate listing agreements; provides that no real estate broker shall be a party to a listing agreement if such agreement is for a period longer than two years; provides that a listing agreement shall not be enforceable if the agreement is for a period longer than two years.
STATE OF NEW YORK
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7499
2025-2026 Regular Sessions
IN SENATE
April 21, 2025
___________
Introduced by Sen. MAY -- read twice and ordered printed, and when
printed to be committed to the Committee on Judiciary
AN ACT to amend the real property law, in relation to the definition and
term of real estate listing agreements
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property law is amended by adding a new section
2 442-m to read as follows:
3 § 442-m. Listing agreements. 1. For the purposes of this section,
4 "listing agreement" means a contract between an owner or owners of resi-
5 dential real property and an agent, by which the agent has been author-
6 ized to sell or lease the residential real property or to find or obtain
7 a buyer or lessee therefor.
8 2. No real estate broker shall be a party to a listing agreement if
9 such agreement is for a period longer than two years.
10 3. A listing agreement shall not be enforceable if the agreement is
11 for a period longer than two years.
12 4. Nothing shall prohibit the renewal of a listing agreement upon or
13 prior to the fixed termination date set forth in such agreement,
14 provided, however, no real estate broker shall be a party to an exclu-
15 sive listing agreement which shall contain an automatic continuation of
16 the period of such listing beyond the fixed termination date set forth
17 in such agreement.
18 § 2. This act shall take effect one year after it shall have become a
19 law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11570-01-5
