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NY A05164
Bill
Status
2/12/2025
Primary Sponsor
Michaelle Solages
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AI Summary
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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
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Defines factors for determining adequate supervision: broker availability to review and approve all documents, distance between main office and branch locations, and ability to familiarize supervised agents with federal and state real estate laws including anti-discrimination requirements
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Expands grounds for revoking or suspending a broker's license to include failure to exercise reasonable and adequate supervision over salespersons or associate brokers, in addition to existing grounds of actual knowledge of violations
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Adds "associate brokers" to provisions regarding broker liability when retaining benefits or proceeds from wrongfully negotiated transactions after receiving notice of misconduct
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Takes effect immediately upon enactment
Legislative Description
Codifies the duty of real estate brokers to supervise salespersons and associate brokers through regular, frequent and consistent personal guidance, instruction and oversight; lists elements of supervision including the ability to familiarize salespersons with state and federal laws against discrimination.
Last Action
referred to judiciary
1/7/2026