To comply with New York State Real Property Law this SOP outlines what will be required of homebuyers when working with a Real Estate Broker, Associate Real Estate Broker, and Real Estate Salesperson.
JFIVE Homes Realty LLC Standard Operating Procedures
- Potential clients and customers are not required to provide identification *
- Based on NAR settlement a Real Estate Broker or Salesperson requires a written agreement with a homebuyer before scheduling a home tour. **
- Pre-approval or pre-qualification for a mortgage is not a prerequisite for JFIVE Homes Realty LLC to provide services. ***
*Although this is not a requirement by JFIVE Homes Realty LLC, a home seller could require identification.
** A Broker or agent will ask potential buyers if he or she is already working with an agent with such an agreement.
*** A home seller could request a pre-approval or pre-qualification letter prior to approving a showing appointment, or when an offer is made.