Standard Operating Procedures

Flash Update:
Standard Operating Procedure Law effective April 20, 2022 impacts all brokerages (4/8/2022)

Recently, a number of laws have been passed in New York State pertaining to fair housing and these laws have significant impact for real estate licensees.  One of these laws requires real estate brokers who service residential homebuyers to create and publish “Standardized Operating Procedures” (the “SOP Law”) for their brokerage offices so that prospective homebuyers understand what will be required from them when working with a real estate broker.  There is some confusion surrounding the “SOP Law” because it was amended by a “Chapter Amendment” that was signed into law on March 15, 2022

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Articles:

What You Need to Know About the New Standard Operating Procedures (SOPs) - by Brian S. Levine, Esq., HGAR In-House Counsel/Director of Legal Services & Professional Standards Administrator. (4/11/2022)

Useful Links:

• NYSAR’s Standard Operating Procedure template

NYSAR Flash Updates:

• Standard Operating Procedure Law effective April 20, 2022 impacts all brokerages - (3/21/2022)

For questions contact NYSAR’s Legal Hotline.
The Legal Hotline is available Monday-Friday from 9:00am-4:00pm at 518-436-9727.