{"id":1322,"date":"2026-06-05T22:08:49","date_gmt":"2026-06-05T22:08:49","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=1322"},"modified":"2026-06-05T22:08:49","modified_gmt":"2026-06-05T22:08:49","slug":"ny-may-ban-private-home-listings-as-more-states-crack-down-on-controversial-practice","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=1322","title":{"rendered":"NY may ban private home listings \u2014 as more states crack down on controversial practice"},"content":{"rendered":"<div>\n<p>New York State is on the verge of restricting private home listings marketed to an exclusive audience, making it the latest state to crack down on the controversial practice.<\/p>\n<p>Read more <a href=\"https:\/\/metrotransitreview.com\/?p=1320\">Sen. Kirsten Gillibrand mum on Graham Platner bombshell after leading #MeToo charge against Al Franken<\/a><\/p>\n<p>The New York state Senate passed the \u201cFair and Transparent Real Estate Listing Act\u201d in a vote of 60-0 from its noncontroversial calendar on Monday. <\/p>\n<p>The bill now heads to the desk of Gov.\u00a0Kathy Hochul.<\/p>\n<p>Under this proposed law, real estate agents must market properties on free or publicly accessible channels, rather than through private or exclusive networks, unless the seller signs an agreement acknowledging they may receive fewer offers or a lower final price.<\/p>\n<p><iframe allowfullscreen=\"\" class=\"realtor-com-listings-widget\" frameborder=\"0\" height=\"230\" loading=\"lazy\" src=\"https:\/\/www.realtor.com\/creative\/rdc-ads\/local-listings-widget\/?src=nyp\" title=\"Realtor.com widget\" width=\"100%\"><\/iframe><\/p>\n<p>New York would be the third state to put such a law on the books this year.\u00a0<\/p>\n<p>Washington\u00a0and\u00a0Connecticut\u00a0have\u00a0passed\u00a0similar laws.<\/p>\n<p>Lawmakers in\u00a0Illinois\u00a0and\u00a0Hawaii\u00a0have also proposed similar legislation.<\/p>\n<p>State Sen.\u00a0Nathalia Fernandez\u00a0(D-The Bronx) sponsored the New York bill and said the point of the measure was to ensure buyers see all the homes on the market, while sellers reach the widest possible audience.<\/p>\n<p>\u201cFor most families, buying or selling a home is one of the most significant financial decisions that they will ever make,\u201d Fernandez said. \u201cThose decisions should be made in a marketplace where information is broadly available. Not hidden behind private networks that limit who can see the listings, and when they can see them.\u201d<\/p>\n<h2>Another state lines up against private listings<\/h2>\n<p>Specifically, the bill requires that properties are advertised on a publication, platform, or website that\u2019s free and or doesn\u2019t require a homebuyer to work with the listing brokerage. <\/p>\n<p>That marketing must commence immediately once the seller markets the property.<\/p>\n<p>The law does have a disclosure and opt-out form, which a seller must sign to authorize a private listing. The opt-out form warns that private listings will receive \u201creduced visibility to buyers and tenants\u201d and \u201cmay reduce the number of offers\u201d a seller receives.<\/p>\n<p>It also ups the fine for violation of real estate broker conduct, from $2,000 to $5,000, up to revocation of license.<\/p>\n<p>Read more <a href=\"https:\/\/metrotransitreview.com\/?p=1318\">Exclusive | Taylor Swift and Travis Kelce to marry at NYC\u2019s iconic Madison Square Garden<\/a><\/p>\n<p>\u201cThis is not about taking choices away from sellers, it is about making sure that our housing market operates with greater transparency and equal access,\u201d Fernandez said. \u201cA more open marketplace benefits buyers, sellers, and communities alike.\u201d<\/p>\n<p>Private listings have engendered controversy in the real estate world, as several prominent major brokerages and data providers have enacted them. <\/p>\n<p>Fair housing advocates say they\u00a0raise discrimination\u00a0concerns. <\/p>\n<p>At least\u00a0one study from Bright MLS\u00a0found private listings take longer to sell and don\u2019t guarantee more money.<\/p>\n<p>Then a\u00a0study from Zillow\u00a0found the sales price of such private listings was 1.3% less than comparable sales on the MLS, costing the seller an average of $4,230 per sale. <\/p>\n<div>\n<\/div>\n<p>(Realtor.com\u00ae\u00a0recently struck\u00a0an agreement with Zillow\u00a0to show preview listings from brokers who participate in Zillow\u2019s preview program, in an effort to boost market transparency.)<\/p>\n<p>The New York State Association of Realtors\u00ae strongly supports the New York bill, it said in a statement.<\/p>\n<p><iframe allowfullscreen=\"\" class=\"realtor-com-search-widget\" frameborder=\"0\" height=\"230\" loading=\"lazy\" src=\"https:\/\/www.realtor.com\/creative\/rdc-ads\/search-listings-widget\/?src=nyp\" title=\"Realtor.com widget\" width=\"100%\"><\/iframe><\/p>\n<p>\u201cWe believe the act strikes the appropriate balance between educating sellers and lessors regarding the use of private listing networks while preserving consumer choice regarding the advertisement and sale of their residential property,\u201d the group said.<\/p>\n<p>Read more <a href=\"https:\/\/metrotransitreview.com\/?p=1316\">New NYC dating demand has men and women at war: \u2018No ride, no date\u2019<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York State is on the verge of restricting private home listings marketed to an exclusive audience, making it the latest state to crack down on the controversial practice.<\/p>\n","protected":false},"author":1,"featured_media":1321,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53],"tags":[],"class_list":["post-1322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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