New York Agency Law

# New York Agency Law ## Why This Matters on the Exam Agency law is one of the highest-weighted topics on the NY salesperson exam, accounting for roughly 12% of your total score. Expect multiple questions testing the specific disclosure rules, fiduciary duties, dual agency requirements, and the 2024 buyer agreement law — get these right and you'll have a major scoring advantage. --- ## What Is Agency? Agency is a legal relationship in which one party (the agent) is authorized to act on behalf of another party (the principal) in dealings with third parties. In real estate, the licensed salesperson or broker acts as the agent; the client (buyer or seller) is the principal. New York agency law is governed by Real Property Law (RPL) Article 12-A, administered by the New York Department of State (DOS) — dos.ny.gov. ### NY License Education Requirements — Sourced from RPL §441 and DOS (2026-06-29) | License Level | Pre-License Education | Renewal CE (per 2-year cycle) | |---|---|---| | Salesperson | 77 hours approved curriculum (RPL §441) | 22.5 hours including mandatory fair housing, cultural competency, ethics, implicit bias (RPL §441) | | Broker | 152 hours approved curriculum (RPL §441) | 22.5 hours (same breakdown) | | Broker experience req. | 2 years as active licensed salesperson under broker supervision, OR 3 years equivalent RE experience (RPL §441) | — | Salesperson license fees (DOS, 2026-06-29): Initial application: $65 · Exam: $15 · Renewal: $65 · Minimum age: 18 License term: 2 years (dos.ny.gov) Exam: 90 minutes (1.5 hours);…