Bill > A08120

This bill modifies New York real property law by establishing new regulations for real estate listing agreements. 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 property. The bill limits the duration of listing agreements, preventing real estate brokers from entering into or maintaining listing agreements that exceed two years in length. While the agreement cannot be longer than two years, the bill does allow for renewal of the agreement at or before its termination date, with a key restriction that there cannot be an automatic continuation clause extending the listing period beyond the original fixed termination date. The purpose of these provisions appears to be protecting property owners from being locked into excessively long listing agreements with real estate brokers. 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/A8120