NY A08119

Establishes a legal duty for licensed real estate brokers to exercise reasonable and adequate supervision over real estate salespersons and associate brokers through regular, frequent, and consistent personal guidance, instruction, and oversight

Defines adequate supervision by the supervising broker's availability to review and approve documents, proximity between the main office and branch locations, and ability to ensure salespersons understand federal and state laws including anti-discrimination requirements

Provides that broker license revocation or suspension for violations by salespersons or employees requires either actual knowledge of the violation, failure to exercise reasonable and adequate supervision, or retention of benefits from wrongfully negotiated transactions after notice of misconduct

Makes it a misdemeanor for a broker to employ any salesperson who has not secured the required license for such employment

Takes effect immediately upon enactment