A 10679: Requires timely public advertising or marketing of listed residential properties on platforms accessible to the general public; permits non-public marketing only where the seller gives informed, written direction after receiving a standardized state disclosure that clearly explains the risks and tradeoffs of withholding a listing from public marketing.

  
  STATE OF NEW YORK ________________________________________________________________________ 10679  IN ASSEMBLY March 20, 2026 ___________ Introduced by M. of A. SOLAGES -- read once and referred to the Commit- tee on Judiciary AN ACT to amend the real property law, in relation to access to fair and transparent real estate listings The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Short title. This act shall be known and may be cited as 2 the "Fair and Transparent Real Estate Listings Act." 3 § 2. Legislative findings and intent. The legislature finds that open 4 and transparent access to residential real estate listings is essential 5 to fair housing opportunity, market competition, and accurate price 6 discovery. The legislature further finds that practices that keep for- 7 sale homes off broadly accessible public platforms, including use of 8 private listing networks or similar restricted-access systems, can limit 9 the ability of buyers and their agents to identify and compete for 10 available homes, reduce the pool of potential offers to sellers and risk 11 lower sale proceeds, and exacerbate segregation and inequities by making 12 some homes effectively invisible to certain buyers. 13 It is therefore the intent of the legislature to require timely public 14 advertising or marketing of listed residential properties on platforms 15 accessible to the general public and to real estate licensees represent- 16 ing prospective buyers, and permit non-public marketing only where the 17 seller gives informed, written direction after receiving a standardized 18 state disclosure that clearly explains the risks and tradeoffs of with- 19 holding a listing from public marketing. 20 § 3. Subdivision 3 of section 443 of the real property law is amended 21 by adding a new paragraph g to read as follows: 22 g. (i) For purposes of this paragraph: 23 (A) "residential real property" has the same meaning as in subdivision 24 one of this section and includes one- to four-family dwellings, condo- 25 minium units, and cooperative apartments, whether owner-occupied or 26 non-owner-occupied; 27 (B) "publicly advertise or market" means to advertise, list, or other- 28 wise make information about a property available for sale on at least 29 one publication, platform, or website that is broadly accessible to the 30 general public and to any duly licensed real estate broker or real EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15186-01-6 
 A. 10679 2 1 estate salesperson representing prospective buyers, without limitation 2 to a particular brokerage, franchise, or select group of licensees; and 3 (C) "private listing network" means any system, service, platform, or 4 arrangement, whether electronic or otherwise, operated by or on behalf 5 of a brokerage, franchise, multiple listing service, or group of licen- 6 sees, that: 7 (1) restricts access to some or all listing information to a defined 8 subset of brokers, licensees, or buyers; and 9 (2) is not broadly accessible to the general public and to all duly 10 licensed real estate brokers and real estate salespersons representing 11 prospective buyers. 12 (ii) A seller's agent representing a seller of residential real prop- 13 erty shall, within one calendar day of the beginning date of the term of 14 any written listing agreement to act as an agent of the seller to sell 15 the client's property, publicly advertise or market the listed property 16 for sale in or on a publication, platform, or website that is broadly 17 accessible to the general public and any real estate licensees repres- 18 enting prospective buyers, and shall not satisfy this requirement by 19 advertising or marketing solely through a private listing network or 20 other restricted-access platform, unless: 21 (A) the seller client is provided, completes, and signs the disclosure 22 and opt-out form set forth in paragraph c of subdivision four of this 23 section, expressly directing the seller's agent not to publicly adver- 24 tise or market the listed property; or 25 (B) the seller has a bona fide privacy, safety, or similar need such 26 that any public marketing would be reasonably likely to endanger the 27 health or safety of the seller or an occupant, and the seller and sell- 28 er's agent agree in writing that: 29 (1) the property will not be publicly advertised or marketed in any 30 manner, including on consumer-facing websites, social media, mass email 31 lists, or private listing networks; and 32 (2) any sharing of the listing will be limited to individual, identi- 33 fied prospective buyers or their agents on a case-by-case basis consist- 34 ent with applicable fair housing and anti-discrimination laws. 35 (iii) A seller's agent relying on clause (A) of subparagraph (ii) of 36 this paragraph shall: 37 (A) provide the seller with the disclosure and opt-out form set forth 38 in paragraph c of subdivision four of this section prior to or at the 39 time of entering into the listing agreement; 40 (B) obtain a signed acknowledgment from the seller on such form; and 41 (C) maintain a copy of the signed form for not less than three years, 42 and make such copy available to the department of state upon request. 43 (iv) A seller's agent relying on subparagraph clause (B) of subpara- 44 graph (ii) of this paragraph shall: 45 (A) document in writing the specific privacy or safety concerns that 46 justify non-public marketing; 47 (B) obtain the seller's signed acknowledgment of such concerns and of 48 the potential adverse consequences of not publicly marketing the proper- 49 ty, including the possibility of fewer offers and a lower sale price; 50 and 51 (C) maintain such documentation for not less than three years and make 52 such documentation available to the department of state upon request. 53 (v) Nothing in this paragraph shall be construed to require a seller 54 to hold open houses or to permit showings to any person in violation of 55 the seller's rights under state and federal law, including laws relating 56 to health, safety, and security. 
 A. 10679 3 1 § 4. Subdivision 4 of section 443 of the real property law is amended 2 by adding a new paragraph c to read as follows: 3 c. (i) For buyer-seller transactions, where a seller of residential 4 real property directs a seller's agent not to publicly advertise or 5 market the listed property as required by paragraph g of subdivision 6 three of this section, the seller's agent shall provide the following 7 disclosure and opt-out form to the seller and shall obtain the seller's 8 signature on such form: 9 NEW YORK STATE DISCLOSURE FORM FOR SELLER OPT-OUT OF 10 PUBLIC MARKETING 11 THIS IS NOT A CONTRACT 12 New York state law requires real estate licensees acting as agents of 13 sellers of property to advise the sellers with whom they work of the 14 nature of availability and visibility of real estate property listings 15 made available for sale. This disclosure will help you to make informed 16 choices about how the property listing will be advertised or marketed to 17 the general public and to real estate licensees representing potential 18 buyers. You will not be bound to pay the agent or the agent's brokerage 19 by merely signing this form. 20 By signing this form, you are expressly requesting that the seller's 21 agent not publicly advertise or market your property for sale as 22 required by law, and instead to market the property only on a restricted 23 basis as described below. Before making this choice, you should careful- 24 ly review and initial each of the statements that follows to confirm 25 that you understand the potential risks and drawbacks of withholding 26 your property from public marketing: 27 1. REDUCED VISIBILITY TO BUYERS. 28 I understand that real estate licensees representing prospective buyers 29 may not be aware that my property is available for sale, and that poten- 30 tial buyers who are not connected to my listing agent or their brokerage 31 may never see my listing. 32 Seller to initial: ________ 33 2. LIMITED ONLINE EXPOSURE. 34 I understand that my property may not be displayed on internet platforms 35 or websites the general public uses to search for property listings. 36 Seller to initial: ________ 37 3. FEWER OFFERS AND POSSIBLE IMPACT ON PRICE AND TIMING. 38 I understand that reducing the exposure of my property may reduce the 39 number of offers I receive from buyers and could negatively impact my 40 ability to sell the property sooner and at a higher price. 41 Seller to initial: ________ 42 4. RESTRICTED MARKETING CHANNELS. 43 I direct that this property be marketed only through the efforts of the 44 seller's agent, which may include limited or restricted marketing chan- 45 nels and may include, if I so agree, marketing through a private listing 46 network or similar restricted-access system that is not broadly accessi- 
 A. 10679 4 1 ble to the general public or to all real estate licensees representing 2 prospective buyers. 3 Seller to initial: ________ 4 5. RIGHT TO CHANGE MY MIND. 5 I understand that I may at any time provide written notice to my sell- 6 er's agent directing that the property be publicly advertised or market- 7 ed, and that upon providing such notice, my seller's agent must promptly 8 begin to publicly advertise or market my property in accordance with New 9 York law. 10 Seller to initial: ________ 11 This form was provided to me by ____________________ (print name of 12 licensee) of ____________________________ (print name of company, firm 13 or brokerage), a licensed real estate broker acting in the interest of 14 the Seller as a: 15 ( ) Seller's agent 16 ( ) Broker's agent 17 ( ) Dual agent 18 Seller Property Address for real estate to be listed for sale: 19 ________________________________________ 20 Seller(s) Signature: ___________________________ Date: __________ 21 Seller(s) Signature: ___________________________ Date: __________ 22 Seller(s) Printed Name: ________________________ 23 Seller(s) Printed Name: ________________________ 24 (ii) The department of state is authorized and directed to: 25 (A) issue such rules and regulations as are necessary to implement the 26 requirements of paragraph g of subdivision three of this section and 27 this subdivision, including guidance on documentation of privacy and 28 safety exceptions; and 29 (B) make the standardized disclosure and opt-out form publicly avail- 30 able on the department's website. 31 (iii) A seller's agent shall not alter or omit any required disclosure 32 language in the standardized form, and any additional language added by 33 a seller's agent shall not be misleading or inconsistent with the 34 purpose of this subdivision. 35 § 5. Section 443 of the real property law is amended by adding a new 36 subdivision 7 to read as follows: 37 7. A violation of paragraph g of subdivision three of this section or 38 of paragraph c of subdivision four of this section shall constitute 39 grounds for the imposition of disciplinary action by the department of 40 state under section four hundred forty-one-c of this article, including 41 suspension or revocation of a real estate broker's or salesperson's 42 license and the imposition of civil penalties. Each listing marketed in 43 violation of this section may be treated as a separate violation. The 44 remedies provided by this subdivision are in addition to, and shall not 45 be construed to limit, any other rights or remedies available under 46 state or federal law, including fair housing and anti-discrimination 47 statutes. 48 § 6. This act shall take effect on the first day of January next 49 succeeding the date on which it shall have become a law. Effective imme- 50 diately, the addition, amendment and/or repeal of any rule or regulation 51 necessary for the implementation of this act on its effective date are 52 authorized to be made and completed on or before such effective date.