"The bill would require agents to display the listing on a broadly accessible website within one calendar day of signing a listing agreement, a tighter timeline than under NAR and Zillow policies."
"Sellers can opt out of publicly marketing by signing an agreement that specifies the seller has a need for privacy or safety, or a disclosure form that explains the risks and tradeoffs of private marketing."
"Solages, who represents a swath of western Long Island, told The Real Deal she was looking at different levers to improve affordability and private listings networks kept coming up when talking to real estate agents."
"The bill makes New York the latest in a series of states that have taken up the fight against private listing networks."
New York's state legislature is considering a bill introduced by Michaelle Solages to regulate private listings in real estate. The bill mandates that sellers sign written agreements acknowledging the risks of private marketing. It requires agents to display listings on accessible websites within one day of signing agreements, a tighter timeline than current national policies. Sellers can opt out of public marketing under specific conditions. The bill aims to promote transparency and competition in the housing market, following similar legislative actions in other states against private listing networks.
Read at therealdeal.com
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