Standard Operating Procedures

Standard Operating Procedures Law (SOP Law) requires real estate brokers who service residential homebuyers to create and publish “Standardized Operating Procedures (SOP) for their brokerage offices so that prospective purchasers understand what will be required from them when working with a real estate broker. The Amendment for the SOP Law gives the New York State Department of State (DOS) the ability to hold public hearings and provide further regulatory guidance on the requirements of the SOP Law.  At this time, the DOS has elected not to hold public hearings or to add additional requirements to the SOP Law (but the DOS has reserved the right to do so in the future).  The Chapter Amendment also extends the effective date of the law to April 20, 2022.