Dual Agency in the NY State Residential Rental Real Estate Market

July 27, 2021

,

It’s taken well over a year since the NY State Dept. of State declared that dual agency in the residential rental market would no longer be permitted and then the subsequent lawsuits questioning that directive.     Because of COVID-19, because of delays at the Court, this case took some time to be settled.     It has now been settled by the NYS Supreme Court, which ruled that indeed the Dept. of State of NYS overstepped it’s authority with that dual agency decision and voided the directive.

So, dual agency in the residential rental market in NYS will continue–as it has for decades.    This issue never affected the commercial real estate market–only the residential rental market.