If you are sitting with a Realtor and they encourage you to keep your home sale "private"... BEWARE! They may be trying to get you to sign into a exclusive private listing network... a closed network that may not benefit you.
The New York State Legislature has passed the Fair and Transparent Real Estate Listings Act (S10274/A10679B), an important step toward creating an open, fair, and competitive real estate marketplace.
For too long, exclusive private listing networks and so-called "pocket listings" have threatened to create a marketplace where access to housing opportunities depends on who you know or which brokerage you use.
That is not how a fair housing market should operate.
This legislation establishes a straightforward principle: Homes offered for sale should generally be marketed where everyone has a fair opportunity to discover them. Under the bill, residential listings must be publicly marketed within one calendar day of the start of a written listing agreement, unless the seller makes an informed decision to opt out using a standardized written disclosure. Legitimate privacy and safety protections are also preserved.
Seller choice and marketplace transparency are not competing interests. They can, and should, coexist! Sellers deserve meaningful choices about marketing their properties. Buyers deserve equal access to housing opportunities. And real estate professionals deserve a marketplace where competition is based on service, expertise, and results rather than exclusive access to inventory.
As a strong advocate for fair housing, broker cooperation, and an open marketplace, we enthusiastically applaud this legislation. A transparent marketplace is a stronger marketplace, and that's a win for everyone! If you need a win... AskHollingsworth.