Key Takeaways
- New York requires the Agency Disclosure Form to be presented at first substantive contact
- New York recognizes seller's agent, buyer's agent, broker's agent, and dual agent relationships
- Dual agency requires informed written consent from both parties before representation
- The disclosure form must be signed by the consumer to acknowledge receipt
- Licensees must explain the agency relationships before the consumer makes a decision
Last updated: January 2026
New York Agency Disclosure
New York law requires disclosure of agency relationships at the first substantive contact with buyers and sellers.
Agency Disclosure Form
When Required
The Agency Disclosure Form must be provided:
| Situation | When to Provide |
|---|---|
| Meeting with seller | Before discussing listing |
| Meeting with buyer | Before showing property |
| First substantive contact | At or before first meeting |
What is "Substantive Contact"?
| Is Substantive | Is NOT Substantive |
|---|---|
| Discussing specific property | Providing general market info |
| Showing a property | Giving directions |
| Discussing listing | Answering basic questions |
| Negotiating terms | General inquiry |
Form Requirements
The disclosure form must:
- Be in writing
- Describe all agency relationships
- Be signed by the consumer
- Be retained by the broker
Types of Agency Relationships
Seller's Agent
| Duty | Description |
|---|---|
| Fiduciary duties | To seller only |
| Loyalty | Put seller's interests first |
| Disclosure | All material information to seller |
| Confidentiality | Protect seller's private information |
Buyer's Agent
| Duty | Description |
|---|---|
| Fiduciary duties | To buyer only |
| Loyalty | Put buyer's interests first |
| Disclosure | All material information to buyer |
| Confidentiality | Protect buyer's private information |
Broker's Agent
A licensee who works with a buyer or seller through a cooperating broker:
- Agent of the broker, not the client
- Owes duties through the cooperating broker
- Must still disclose relationship
Dual Agency
Dual agency occurs when one agent represents both parties:
| Requirement | Details |
|---|---|
| Written consent | From both parties |
| Informed consent | Must explain limitations |
| Advance consent | Before dual agency begins |
| Cannot advocate | For either party |
Dual Agency Limitations
When acting as dual agent:
| Cannot Do | Must Do |
|---|---|
| Advocate for one party | Treat both fairly |
| Disclose confidential info | Maintain confidentiality |
| Reveal negotiation strategy | Present all offers |
Disclosed Dual Agency
New York allows disclosed dual agency with consent:
| Step | Requirement |
|---|---|
| 1 | Provide written disclosure |
| 2 | Explain dual agency implications |
| 3 | Obtain written consent from both |
| 4 | Maintain impartiality |
Consequences of Non-Disclosure
Failure to disclose agency can result in:
| Consequence | Description |
|---|---|
| License discipline | Suspension, revocation |
| Commission forfeiture | May lose right to commission |
| Civil liability | Damages to harmed party |
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Test Your Knowledge
When must the New York Agency Disclosure Form be provided?
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Test Your Knowledge
What is required before a New York licensee can act as a dual agent?
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