§ 442-L SECTION 442-L After-the-fact referral fees
RPL § 442-L
§ 442-l. After-the-fact referral fees.
1.No real estate broker or salesperson, in any place in which this article is applicable, shall demand or receive a referral fee or compensation of any kind for (i) a referral from any person or other entity relative to finding a seller after a bona fide listing agreement has been signed, (ii) a referral from any person or other entity relative to finding a buyer after a bona fide offer to purchase is accepted, or (iii) a referral from any person or other entity relative to finding a property after a bona fide buyer's agency agreement has been signed, unless reasonable cause for payment of such compensation exists.
2.A violation of this section shall be a violation of this article and shall constitute a deceptive act or practice within the meaning of section three hundred forty-nine of the general business law.
