Rental Basics in New York>Question Details

Ali, Real Estate Pro in New York, NY

In NYC can brokers give referral fees to non-licensed individuals?

Asked by Ali, New York, NY Thu Feb 12, 2009

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5
Ali,
No they can't and I'm glad you've asked! I previously asked the same question to spread the word to unsuspecting potential people hoping to get referrals as I had seen a posting on a website offering to give supers and doormen a referral fee! I believe attorneys might be able to receive a commission or referral fee as they are exempt from having to be licensed to act as agents or brokers..The NYS Real Estate law is posted here: http://www.dos.state.ny.us/lcns/lawbooks/re-law.html
0 votes Thank Flag Link Fri Feb 13, 2009
Not at all. An agent can loose his license for this. Its called a kickback.
0 votes Thank Flag Link Thu Feb 12, 2009
No. You can't par referral fees to unlicensed individuals.
Web Reference: http://www.RemoRealty.com
0 votes Thank Flag Link Thu Feb 12, 2009
The answer to your question is no, they may not give fees to any unlicensed individual.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Thu Feb 12, 2009
No.


The only time a unlicensed individual can sell or rent residential property for a fee is when they are selling something on behalf of their employer. For example Donald Trumps staff members can sell or rent his units as unlicensed individuals but they cannot sell something for anyone else unless they work for that company or individual.
0 votes Thank Flag Link Thu Feb 12, 2009
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