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New York · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 New YorkNew York requires the licensee to provide a written agency disclosure to buyers and sellers at the time of first substantive contact, explaining the agency relationships available. Sellers of most one-to-four-unit residential properties must deliver a Property Condition Disclosure Statement covering the known condition of the property. Failing to provide timely agency disclosure can place the licensee at risk of disciplinary action by the DOS.
Yes. State License Law is a scored domain on the New York real estate licensing exam, and this topic appears in the state license-law portion.
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New York applies its own license law on top of the national portion. This page covers the New York rules specifically, which is what the state section of your exam tests.