New York State Agency Disclosure

New York Real Property Law §443 requires real estate licensees to explain agency relationships at the first substantive contact with a consumer. This page fulfills that obligation for Gadura Real Estate, LLC. You are not signing anything by reading it — signing the formal Agency Disclosure Form (DOS-1736-a) only acknowledges you received the disclosure, not that you agreed to any particular agency relationship.

Download the Official NY DOS Agency Disclosure Form (PDF) →

The Five Agency Relationships in New York

1. Seller's Agent

A seller's agent is hired by and represents the seller. The seller's agent owes the seller fiduciary duties of loyalty, obedience, reasonable care, accounting, confidentiality, and full disclosure. A seller's agent owes the buyer fairness and honest dealing, but does not represent the buyer's interests.

2. Buyer's Agent

A buyer's agent is hired by and represents the buyer. The buyer's agent owes the buyer fiduciary duties of loyalty, obedience, reasonable care, accounting, confidentiality, and full disclosure. A buyer's agent owes the seller fairness and honest dealing, but does not represent the seller's interests.

3. Broker's Agent

A broker's agent is a broker or salesperson who cooperates with another broker to represent that other broker's client. The broker's agent owes fiduciary duties to the principal broker's client, not directly to the principal.

4. Dual Agent

A dual agent represents both the buyer and the seller in the same transaction, with the informed written consent of both. In dual agency, the agent cannot provide the full range of fiduciary duties to either party. You have the right to decline dual agency.

5. Dual Agent with Designated Sales Agents

With the informed written consent of both buyer and seller, the brokerage may assign one designated sales agent to represent the buyer's interests and another to represent the seller's interests. The brokerage itself remains a dual agent.

Your Right to Choose Representation

You have the right to choose the form of agency representation you want. The buyer and seller each have the right to be represented by their own agent. You are not required to sign the agency disclosure form, but the licensee is required to give it to you and to obtain your signature acknowledging receipt.

Commissions Are Negotiable

Real estate broker commissions are not set by law and are fully negotiable between you and the broker (19 NYCRR §175.7). Gadura Real Estate, LLC does not set, suggest, or enforce any standard commission rate. All compensation terms are agreed in writing in the listing or buyer-representation agreement.

Buyer-Broker Agreements (2024 NAR Settlement)

Under the National Association of REALTORS® 2024 settlement, a written buyer-broker agreement is required before a licensee shows you an MLS-listed property. The agreement specifies the services provided and the compensation, and remains fully negotiable in every term including duration, scope, and compensation.

Questions? Call (917) 705-0132 before your first showing. We'll walk you through the DOS-1736-a form and explain which agency relationship you're entering.

Authority & Sources

This page summarizes NY RPL §443 for informational purposes. It is not legal advice. Consult a NY-licensed attorney for any legal question about agency, representation, or fiduciary duty. Gadura Real Estate, LLC · NYS Firm Broker License #10991238487 · Supervising Broker: Vinod K. Gadura · Equal Housing Opportunity.