Bill > S05471

This bill codifies and clarifies the legal duty of real estate brokers to provide comprehensive supervision of their salespersons and associate brokers. Specifically, the bill requires brokers to provide regular, frequent, and consistent personal guidance, instruction, and oversight to their real estate professionals. The legislation defines "reasonable and adequate supervision" by considering factors such as the broker's availability to review documents, the geographical distance between the broker's main office and branch offices, and the broker's ability to educate salespersons about federal and state laws, including anti-discrimination regulations. The bill also establishes that a broker's license can be revoked or suspended if they have actual knowledge of a violation by a salesperson or fail to exercise reasonable supervision, or if they retain profits from a wrongfully negotiated transaction. This legislation aims to enhance accountability and professional standards in the real estate industry by explicitly outlining a broker's supervisory responsibilities and potential consequences for inadequate oversight.

Justice

https://www.nysenate.gov/legislation/bills/2025/S5471