350-F-1 - After-the-fact referral fees.
§ 350-f-1. After-the-fact referral fees. 1. No person, firm, partnership, corporation, association, or other entity shall demand or receive a referral fee or compensation of any kind for (i) a referral from any person or other entity relative to finding a seller of real property after a bona fide real estate listing agreement has been signed, (ii) a referral from any person or other entity relative to finding a buyer for real property after a bona fide offer to purchase real property is accepted, or (iii) a referral from any person or other entity relative to finding real property after a bona fide buyer's agency agreement has been signed, unless reasonable cause for payment of such compensation exists. 2. Any violation of subdivision one of this section shall constitute a deceptive act or practice within the meaning of section three hundred forty-nine of this article.