Bill > S07499

This bill amends New York's real property law to regulate real estate listing agreements by introducing new restrictions on their duration and terms. Specifically, the bill defines a "listing agreement" as a contract between property owners and a real estate agent that authorizes the agent to sell or lease residential real property. The legislation prohibits real estate brokers from entering into listing agreements that extend beyond two years, and declares such agreements unenforceable if they exceed that time frame. While the bill prevents agreements from automatically continuing beyond their initial termination date, it does allow for the renewal of listing agreements either upon or prior to their fixed termination date. This means that property owners and real estate brokers can still work together on selling or leasing property, but they must actively renew their agreement rather than having it automatically extend. The bill will take effect one year after becoming law, giving real estate professionals and property owners time to adjust to the new requirements.

Justice

https://www.nysenate.gov/legislation/bills/2025/S7499