Last Updated: July 1, 2020
Welcome to the Serhant LLC website (the “Website”), owned and operated by Serhant LLC (“Serhant,” “we,” “us,” or “our”). We provide you access to the Website and those services made available through the Website (together with the Website, the “Services”) subject to the following terms and conditions, as amended by Serhant from time to time without notice (the “Terms of Use”).
BY ACCESSING AND USING THE SERVICES, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE LEGALLY BOUND BY THESE TERMS OF USE AND THE TERMS AND CONDITIONS OF OUR PRIVACY POLICY (THE “PRIVACY POLICY”), WHICH ARE HEREBY INCORPORATED INTO THESE TERMS OF USE BY REFERENCE (COLLECTIVELY, THE “AGREEMENT”). IF YOU DO NOT AGREE TO ANY OF THE TERMS OF THE AGREEMENT, YOU MAY NOT ACCESS OR USE THE SERVICES.
THE SECTIONS BELOW TITLED “BINDING ARBITRATION” AND “CLASS ACTION WAIVER” CONTAIN A BINDING ARBITRATION AGREEMENT AND CLASS ACTION WAIVER. THEY AFFECT YOUR LEGAL RIGHTS. PLEASE READ THEM.
Capitalized terms not defined in these Terms of Use shall have the meaning set forth in the Privacy Policy.
The Website provides information to visitors and registered users about Serhant, our real estate listings, and our Services. Through the Services, visitors and registered users may search real estate listings posted by our agents (“Agents”). Our Services have several types of users:
Visitors. Visitors to our Website, as the term implies, are people who do not register for an account, but want to explore the Website for informational purposes and search listings. No login is required for visitors to the Website. Visitors can access all publicly-available content and features of the Website, and can contact us using the contact link on the Website.
Registered Users; Accounts. Registered users have additional functionalities of the Services including the ability to save listings and manage favorites. If you desire to register for the Services, you will be prompted to create a user name (“User Name”), a password (“Password”), and perhaps provide certain additional information that will assist in authenticating your identity when you logs-in in the future (“Unique Identifiers”). When creating your account, you must provide true, accurate, current, and complete information. Each User Name and corresponding Password can be used by only one user. You are solely responsible for the confidentiality and use of your User Name, Password, and Unique Identifiers, as well as for any use, misuse, or communications entered through the Services using one or more of them. You will promptly inform us of any need to deactivate a Password or User Name, or change any Unique Identifier. We reserve the right to delete or change your Password, User Name, or Unique Identifier at any time and for any reason and shall have no liability to you for any loss or damage caused by such action.
Agents. If you are an Agent, you may use the Services subject to a separate written agreement between you and Serhant and any additional terms of use associated with the Services’ agent portal (collectively, the “Brokerage Agreement”). If any terms of the Brokerage Agreement conflict with any of the terms of these Terms of Use, the terms of the Brokerage Agreement shall prevail.
Eligibility. The Services are available only to individuals aged 13 years or older. If you are 13 or older, but under the age of majority in your jurisdiction, you should review these Terms of Use with your parent or guardian to make sure that you and your parent or guardian understand it. If you are under the age of 13, you may use the Services only with the consent of your parent or guardian. We reserve the right, in our sole and absolute discretion, to deny you access to the Services, or any portion thereof, including by closing or disconnecting your account, without notice and without reason.
Usage Rights and Restrictions. Subject to these Terms of Use, Serhant grants you a limited, non-transferable, non-exclusive, license to access and use the Services solely for your personal, non-commercial use. Serhant may terminate this license at any time for any reason. Further, when using or accessing the Services, you agree that:
You will comply with all applicable laws in your use of the Services and will not use the Services for any unlawful purpose;
You will not access or use the Services to collect any market research for a competing business;
You will not impersonate any person or entity or falsely state or otherwise misrepresent your affiliation with a person or entity;
You will not interfere with, or attempt to interrupt the proper operation of, the Services through the use of any virus, device, information collection or transmission mechanism, software or routine, or access or attempt to gain access to any Content (as defined below), data, files, or passwords related to the Services through hacking, password or data mining, or any other means;
You will not decompile, reverse engineer, or disassemble any software or other products or processes accessible through the Services;
You will not cover, obscure, block, or in any way interfere with any advertisements and/or safety features on the Services;
You will not use any robot, spider, scraper, or other automated means to access the Services for any purpose without our express written permission;
You will not take any action that imposes or may impose (in our sole discretion) an unreasonable or disproportionately large load on our technical infrastructure;
You will not resell, distribute, or sublicense the Services or use it for the benefit of anyone other than you;
You will not remove or modify any proprietary markings or restrictive legends placed on the Services; and
You will not introduce, post, or upload to the Services any computer code, programs, or programming devices that are intentionally designed to disrupt, modify, access, delete, damage, deactivate, disable, harm, or otherwise impede in any manner, including aesthetic disruptions or distortions, the operation of the Services, or any other associated software, firmware, hardware, computer system, or network (including, without limitation, “Trojan horses,” “viruses,” “worms,” “time bombs,” “time locks,” “devices,” “traps,” “access codes,” or “drop dead” or “trap door” devices) or any other harmful, malicious, or hidden procedures, routines or mechanisms that would cause the Services to cease functioning or to damage or corrupt data, storage media, programs, equipment, or communications, or otherwise interfere with the operations of the Services.
Modifications. Serhant reserves the right, at any time, to modify, suspend, or discontinue the Services, or any part thereof, with or without notice. You agree that we will not be liable to you or to any third party for any modification, suspension, or discontinuance of the Services or any part thereof.
Acknowledgment of Broker-Consumer Relationship. By agreeing to these Terms of Use, you acknowledge you are entering into a lawful broker-consumer relationship as may be defined under state law. The relationship is not exclusive and you are not obligated to work with Serhant.
The Services are protected by copyright, trademark, and other laws of the United States and foreign countries. Except as expressly provided in this Agreement, Serhant and our licensors exclusively own all right, title, and interest in and to the Services and all Content, including all associated intellectual property rights. You will not remove, alter, or obscure any copyright, trademark, service mark, or other proprietary rights notices incorporated in or accompanying the Services.
The Services contain material, such as software, text, graphics, images, photographs, video, and other material provided by or on behalf of Serhant (collectively referred to as the “Content”). The Content may be owned by us or third parties. The Content is protected under both United States and foreign laws. Unauthorized use of the Content may violate copyright, trademark, and other laws.
You may view all Content for your own personal, non-commercial use. No other use is permitted without the prior written consent of Serhant. We and our licensors retain all right, title, and interest, including all intellectual property rights, in and to the Content. You must retain all copyright and other proprietary notices contained in the original Content. You may not sell, transfer, assign, license, sublicense, or modify the Content or reproduce, display, publicly perform, make a derivative version of, distribute, or otherwise use the Content in any way for any public or commercial purpose.
The trademarks, service marks, and logos of Serhant (the “Serhant Trademarks”) used and displayed on the Services are registered and unregistered trademarks or service marks of Serhant. Other company, product, and service names located on the Services may be trademarks or service marks owned by third parties (the “Third-Party Trademarks,” and, collectively with Serhant Trademarks, the “Trademarks”). Nothing on the Services should be construed as granting, by implication, estoppel, or otherwise, any license or right to use the Trademarks, without our prior written permission specific for each such use. Use of the Trademarks as part of a link to or from any site is prohibited unless establishment of such a link is approved in advance by us in writing. All goodwill generated from the use of Serhant Trademarks inures to our benefit.
Elements of the Services are protected by trade dress, trademark, unfair competition, and other state and federal laws and may not be copied or imitated in whole or in part, by any means, including, but not limited to, the use of framing or mirrors. None of the Content may be retransmitted without our express, written consent for each and every instance.
If you or any permitted user under your account provides us with feedback, comments, and suggestions with respect to the Services or our good and services (“Feedback”), you hereby agree that we will be free to use, reproduce, disclose, and otherwise exploit any and all such Feedback in perpetuity without compensation or attribution to you or any third party. You represent and warrant to Serhant that any Feedback or other information that you provide to us via the Services or any other communication to Serhant (collectively, “User Content”) that (i) the User Content is your original creation (or that you otherwise have the right to provide the User Content to Serhant), (ii) you have the rights necessary to grant the us the right to use the User Content as described in this paragraph, and (iii) the User Content and its use by Serhant and our content partners as permitted hereunder does not and will not infringe or misappropriate the intellectual property or moral rights of any third party. You agree to defend, indemnify, and hold us and our owners, members, officers, directors, employees, agents, successors, licensees, licensors, and assigns harmless from and against any damages, liabilities, losses, expenses, claims, actions, and/or demands, including, without limitation, reasonable legal and accounting fees, arising or resulting from your breach of the representations and warranties in the immediately preceding sentence.
THE SERVICES, INCLUDING ALL CONTENT AND OTHER INFORMATION ON OR ACCESSIBLE FROM OR THROUGH THE WEBSITE ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, SECURITY OR ACCURACY, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE, OR USAGE OF TRADE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, SERHANT DOES NOT WARRANT THAT: (1) THE INFORMATION ON THE WEBSITE IS CORRECT, ACCURATE OR RELIABLE; (2) THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE; OR (3) DEFECTS WILL BE CORRECTED, OR THAT THE WEBSITE, THE SERVICES, OR THE SERVER THAT MAKE THEM AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
IN CONNECTION WITH ANY WARRANTY, CONTRACT, OR COMMON LAW TORT CLAIMS: (I) WE SHALL NOT BE LIABLE FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION RESULTING FROM THE USE OR INABILITY TO ACCESS AND USE THE WEBSITE, THE SERVICES, OR THE CONTENT, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; AND (II) ANY DIRECT DAMAGES, NOT ATTRIBUTABLE TO PERSONAL INJURIES, THAT YOU MAY SUFFER AS A RESULT OF YOUR USE OF THE WEBSITE, THE SERVICES, OR THE CONTENT SHALL BE LIMITED TO ONE HUNDRED UNITED STATES DOLLARS (US $100).
SOME JURISDICTIONS, INCLUDING THE STATE OF NEW JERSEY, DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR LIMITATION OF CERTAIN LIABILITIES. THEREFORE, SOME OF THE LIMITATIONS AND EXCLUSIONS IN THIS SECTION MAY NOT APPLY TO YOU.
NOTHING IN THESE TERMS OF USE SHALL AFFECT ANY NON-WAIVABLE STATUTORY RIGHTS THAT APPLY TO YOU.
Serhant respects the intellectual property of others, and we ask our users to do the same. Each individual (including each of our brokers and agents) is responsible for ensuring that content he or she posts, uploads, or shares to Serhant does not infringe any third party copyright or other intellectual property rights.
If properly notified that any materials infringe a third party’s copyright, Serhant will review all claims and promptly remove such materials from the Services. In addition, Serhant may, when appropriate, terminate the accounts of repeat copyright infringers.
If you believe that your work has been copied in a way that constitutes copyright infringement, please provide us with a written notice containing the following information:
Your name, address, telephone number, and email address.
A description of the copyrighted work that you claim has been infringed.
A description of where on the Serhant Services the material that you claim is infringing may be found, sufficient for Serhant to locate the material (e.g., the URL).
A statement that you have a good faith belief that the use of the copyrighted work is not authorized by the copyright owner, its agent, or the law.
A statement by you UNDER PENALTY OF PERJURY that the information in your notice is accurate and that you are the copyright owner or authorized to act on the copyright owner’s behalf.
Your electronic or physical signature.
You may submit this information, or any counter notice, via:
Email, with the subject line “Copyright Notices” to: [email protected]; or
Offline, to:
Serhant LLC
c/o Lester Bleckner & Shaw LLP
350 Fifth Avenue, Suite 3301
New York, New York 10118
Serhant may disclose any communications concerning Digital Millennium Copyright Act (“DMCA”) or other applicable copyright notices or other intellectual property complaints with third parties, including the users who have posted the allegedly infringing material.
If you have questions about the legal requirements of a DMCA notice, please contact an attorney or see U.S. Copyright Act, 17 U.S.C. § 512(c)(3) for more information. If you have questions about the legal requirements of a DMCA counter-notification, please contact an attorney or see U.S. Copyright Act, 17 U.S.C. § 512(g)(3) for more information.
The Services are based in the United States. We make no claims concerning whether the Website or Services are accessible, or whether Content may be downloaded, viewed, or be appropriate for use, outside of the United States. Whether inside or outside of the United States, you are solely responsible for ensuring compliance with the laws of your specific jurisdiction.
This Agreement, and any action related hereto, will be governed by the laws of the State of New York without regard to its conflict of laws provisions.
In the event of a dispute arising under or relating to this Agreement or any Services provided by us (each, a “Dispute”), such dispute will be finally and exclusively resolved by binding arbitration governed by the Federal Arbitration Act (“FAA”). NEITHER PARTY SHALL HAVE THE RIGHT TO LITIGATE SUCH CLAIM IN COURT OR TO HAVE A JURY TRIAL. NOTWITHSTANDING THE FOREGOING, EITHER PARTY MAY BRING ITS CLAIM IN ITS LOCAL SMALL CLAIMS COURT, IF PERMITTED BY THAT SMALL CLAIMS COURT RULES AND IF WITHIN SUCH COURT’S JURISDICTION. ARBITRATION IS DIFFERENT FROM COURT, AND DISCOVERY AND APPEAL RIGHTS MAY ALSO BE LIMITED IN ARBITRATION. All Disputes will be resolved before a neutral arbitrator selected jointly by you and Serhant, whose decision will be final, except for a limited right of appeal under the FAA. The arbitration shall be commenced and conducted by JAMS pursuant to its then current Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited Procedures in those rules, or, where appropriate, pursuant to JAMS’s Streamlined Arbitration Rules and Procedures. All applicable JAMS rules and procedures are available at the JAMS website www.jamsadr.com. Each of you and Serhant will be responsible for paying any JAMS filing, administrative, and arbitrator fees in accordance with JAMS rules. Judgment on the arbitrator’s award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. The arbitration may be conducted in person, through the submission of documents, by phone, or online. If conducted in person, the arbitration shall take place in the United States county where you reside. The parties may litigate in court to compel arbitration, to stay a proceeding pending arbitration, or to confirm, modify, vacate, or enter judgment on the award entered by the arbitrator. The parties shall cooperate in good faith in the voluntary and informal exchange of all non-privileged documents and other information (including electronically stored information) relevant to the Dispute immediately after commencement of the arbitration. As set forth in Section 10 below, nothing in this Agreement will prevent us from seeking injunctive relief in any court of competent jurisdiction as necessary to protect our proprietary interests.
You agree that any arbitration or proceeding shall be limited to the Dispute between us and you individually. To the full extent permitted by law, (i) no arbitration or proceeding shall be joined with any other; (ii) there is no right or authority for any Dispute to be arbitrated or resolved on a class action-basis or to utilize class action procedures; and (iii) there is no right or authority for any Dispute to be brought in a purported representative capacity on behalf of the general public or any other persons. YOU AGREE THAT YOU MAY BRING CLAIMS AGAINST US ONLY IN YOUR INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
You acknowledge and agree that in the event of a breach or threatened violation of our intellectual property rights and confidential and proprietary information by you, we will suffer irreparable harm and will therefore be entitled to injunctive relief to enforce these Terms of Use. We may, without waiving any other remedies under these Terms of Use, seek from any court having jurisdiction any interim, equitable, provisional, or injunctive relief that is necessary to protect our rights and property pending the outcome of the arbitration referenced above. You hereby irrevocably and unconditionally consent to the personal and subject matter jurisdiction of the federal and state courts in the State of New York for purposes of any such action by us.
Serhant is a provider of “interactive computer services” as defined under the Communications Decency Act, 47 U.S.C. Section 230, and as such, our liability for defamation, libel, product disparagement, and other claims arising out of any third-party Content is limited as described therein. We are not responsible for any third-party Content, including, without limitation, the Content posted by Agents. We neither warrant the accuracy of any Content nor exercise any editorial control over any third-party Content, nor do we assume any legal obligation for editorial control of such third-party Content or liability in connection with such third-party Content, including any responsibility or liability for investigating or verifying the accuracy thereof.
The Website may contain links to third-party websites (“External Sites”). These links are provided solely as a convenience to you and not as an endorsement by us of the content on such External Sites. The content of such External Sites is developed and provided by others. You should contact the site administrator or webmaster for those External Sites if you have any concerns regarding such links or any content located on such External Sites. We are not responsible for the content of any linked External Sites and do not make any representations regarding the content or accuracy of materials on such External Sites. You should take precautions when downloading files from all websites to protect your computer from viruses and other destructive programs. If you decide to access linked External Sites, you do so at your own risk.
We may change these Terms of Use from time to time without notice. Any such changes will be posted on the Website. By accessing the Services after we make any such changes to the Terms of Use, you are deemed to have accepted such changes.
No failure or delay by Serhant in exercising any right or remedy under these Terms of Use will operate, or be deemed to operate, as a waiver of any such right or remedy. If any provision of these Terms of Use is found invalid or unenforceable by a court of competent jurisdiction, that provision will be amended and the remainder of these Terms of Use will remain in full force and effect. These Terms of Use constitute the final and complete agreement between you and Serhant regarding the subject matter hereof, and supersede any prior or contemporaneous communications, representations, or agreements between us, whether oral or written, including, without limitation, any confidentiality or non-disclosure agreements. Headings are for convenience only and shall not be used to limit or interpret the meaning of any of the provisions of these Terms of Use.
If you have questions about these Terms of Use, please contact us via email at [email protected].
Any real estate broker, salesperson, agent, or similar state-licensed real estate professional (“Real Estate Agent”) who uses the Services for its customers must first enter into a Brokerage Agreement with Serhant. We authorize the Real Estate Board of New York (“REBNY”) and/or REBNY Listing Service (“RLS”) brokers (and each of their duly authorized representatives) to access the Services for the purposes of verifying compliance with the provisions of these Terms of Use, any agreement between Serhant and REBNY directly, or any other applicable RLS rules or policies or any other multiple listing system or real estate board to which Serhant subscribes. We reserve the right to deny or terminate access to any Real Estate Agent except to the extent such Real Estate Agent is accessing the Services for the foregoing purposes. No person, including any Real Estate Agent, may market or make commercial use of the Services in any way, including, without limitation, advertising our property listings, copying our content for commercial use, or contacting our customers or the owners or sellers of any properties listed on the Services.
New York State law requires real estate licensees who are acting as agents of buyers or sellers of property to advise the potential buyers or sellers with whom they work of the nature of their agency relationship and the rights and obligations it creates. This disclosure will help you to make informed choices about your relationship with the real estate broker and its sales agents. Throughout the transaction you may receive more than one disclosure form. The law may require each agent assisting in the transaction to present you with this disclosure form. A real estate agent is a person qualified to advise about real estate. If you need legal, tax or other advice, consult with a professional in that field.
Seller’s Agent
A seller’s agent is an agent who is engaged by a seller to represent the seller’s interests. The seller’s agent does this by securing a buyer for the seller’s home at a price and on terms acceptable to the seller. A seller’s agent has, without limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller’s agent does not represent the interests of the buyer. The obligations of a seller’s agent are also subject to any specific provisions set forth in an agreement between the agent and the seller. In dealings with the buyer, a seller’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law.
Buyer’s Agent
A buyer’s agent is an agent who is engaged by a buyer to represent the buyer’s interests. The buyer’s agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer’s agent has, without limitation, the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer’s agent does not represent the interest of the seller. The obligations of a buyer’s agent are also subject to any specific provisions set forth in an agreement between the agent and the buyer. In dealings with the seller, a buyer’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyer’s ability and/or willingness to perform a contract to acquire seller’s property that are not inconsistent with the agent’s fiduciary duties to the buyer.
Broker’s Agent
A broker’s agent is an agent that cooperates or is engaged by a listing agent or a buyer’s agent (but does not work for the same firm as the listing agent or buyer’s agent) to assist the listing agent or buyer’s agent in locating a property to sell or buy, respectively, for the listing agent’s seller or the buyer agent’s buyer. The broker’s agent does not have a direct relationship with the buyer or seller and the buyer or seller cannot provide instructions or direction directly to the broker’s agent. The buyer and the seller therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or buyer’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or buyer’s agent will have liability for the acts of the broker’s agent.
Dual Agent
A real estate broker may represent both the buyer and seller if both the buyer and seller give their informed consent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary duties to the buyer and seller. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the buyer and seller. An agent acting as a dual agent must explain carefully to both the buyer and seller that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the buyer and seller are giving up their right to undivided loyalty. A buyer or seller should carefully consider the possible consequences of a dual agency relationship before agreeing to such representation. A seller or buyer may provide advance informed consent to dual agency by indicating the same on this form.
Dual Agent With Designated Sales Agents
If the buyer and seller provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer and another sales agent to represent the seller to negotiate the purchase and sale of real estate. A sales agent works under the supervision of the real estate broker. With the informed consent of the buyer and the seller in writing, the designated sales agent for the buyer will function as the buyer’s agent representing the interests of and advocating on behalf of the buyer and the designated sales agent for the seller will function as the seller’s agent representing the interests of and advocating on behalf of the seller in the negotiations between the buyer and seller. A designated sales agent cannot provide the full range of fiduciary duties to the buyer or seller. The designated sales agent must explain that like the dual agent under whose supervision they function, they cannot provide undivided loyalty. A buyer or seller should carefully consider the possible consequences of a dual agency relationship with designated sales agents before agreeing to such representation.
A seller or buyer may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form.
This form was provided to me by Serhant LLC, a licensed real estate broker acting in the interest of the: ( ) Seller as a (check relationship below) (X) Buyer as a (check relationship below)
( ) Seller’s agent (X) Buyer’s agent
( ) Broker’s agent ( ) Broker’s agent
( ) Dual agent
( ) Dual agent with designated sales agent
If dual agent with designated sales agents is indicated above: ______ is appointed to represent the buyer; and ______ is appointed to represent the seller in this transaction.
I/We acknowledge receipt of a copy of this disclosure form:
Electronic signature of (X) Buyer(s) and/or ( ) Seller(s)
New York State Buyer and Seller Disclosure Form
New York State law requires real estate licensees who are acting as agents of landlords and tenants of real property to advise the potential landlords and tenants with whom they work of the nature of their agency relationship and the rights and obligations it creates. This disclosure will help you to make informed choices about your relationship with the real estate broker and its sales agents. Throughout the transaction you may receive more than one disclosure form. The law may require each agent assisting in the transaction to present you with this disclosure form. A real estate agent is a person qualified to advise about real estate. If you need legal, tax or other advice, consult with a professional in that field.
Landlord’s Agent
A landlord’s agent is an agent who is engaged by a landlord to represent the landlord’s interest. The landlord’s agent does this by securing a tenant for the landlord’s apartment or house at a rent and on terms acceptable to the landlord. A landlord’s agent has, without limitation, the following fiduciary duties to the landlord: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A landlord’s agent does not represent the interests of the tenant. The obligations of a landlord’s agent are also subject to any specific provisions set forth in an agreement between the agent and the landlord. In dealings with the tenant, a landlord’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law.
Tenant’s Agent
A tenant’s agent is an agent who is engaged by a tenant to represent the tenant’s interest. The tenant’s agent does this by negotiating the rental or lease of an apartment or house at a rent and on terms acceptable to the tenant. A tenant’s agent has, without limitation, the following fiduciary duties to the tenant: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A tenant’s agent does not represent the interest of the landlord. The obligations of a tenant’s agent are also subject to any specific provisions set forth in an agreement between the agent and the tenant. In dealings with the landlord, a tenant’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the tenant’s ability and/or willingness to perform a contract to rent or lease landlord’s property that are not consistent with the agent’s fiduciary duties to the buyer.
Broker’s Agent
A broker’s agent is an agent that cooperates or is engaged by a listing agent or a tenant’s agent (but does not work for the same firm as the listing agent or tenant’s agent) to assist the listing agent or tenant’s agent in locating a property to rent or lease for the listing agent’s landlord or the tenant agent’s tenant. The broker’s agent does not have a direct relationship with the tenant or landlord and the tenant or landlord cannot provide instructions or direction directly to the broker’s agent. The tenant and the landlord therefore do not have vicarious liability for the acts of the broker’s agent. The listing agent or tenant’s agent do provide direction and instruction to the broker’s agent and therefore the listing agent or tenant’s agent will have liability for the acts of the broker’s agent.
Dual Agent
A real estate broker may represent both the tenant and the landlord if both the tenant and landlord give their informed consent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary duties to the landlord and the tenant. The obligations of an agent are also subject to any specific provisions set forth in an agreement between the agent, and the tenant and landlord. An agent acting as a dual agent must explain carefully to both the landlord and tenant that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the landlord and tenant are giving up their right to undivided loyalty. A landlord and tenant should carefully consider the possible consequences of a dual agency relationship before agreeing to such representation. A landlord or tenant may provide advance informed consent to dual agency by indicating the same on this form.
Dual Agent With Designated Sales Agents
If the tenant and the landlord provide their informed consent in writing, the principals and the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the tenant and another sales agent to represent the landlord. A sales agent works under the supervision of the real estate broker. With the informed consent in writing of the tenant and the landlord, the designated sales agent for the tenant will function as the tenant’s agent representing the interests of and advocating on behalf of the tenant and the designated sales agent for the landlord will function as the landlord’s agent representing the interests of and advocating on behalf of the landlord in the negotiations between the tenant and the landlord. A designated sales agent cannot provide the full range of fiduciary duties to the landlord or tenant. The designated sales agent must explain that like the dual agent under whose supervision they function, they cannot provide undivided loyalty. A landlord or tenant should carefully consider the possible consequences of a dual agency relationship with designated sales agents before agreeing to such representation. A landlord or tenant may provide advance informed consent to dual agency with designated sales agents by indicating the same on this form.
This form was provided to me by Serhant LLC, a licensed real estate broker acting in the interest of the:
( ) Landlord as a (check relationship below) ( ) Tenant as a (check relationship below)
( ) Landlord’s agent ( ) Tenant’s agent
( ) Broker’s agent ( ) Broker’s agent
( ) Dual agent
( ) Dual agent with designated sales agent
If dual agent with designated sales agents is indicated above:______ is appointed to represent the tenant; and ______ is appointed to represent the seller in this transaction.
I/We acknowledge receipt of a copy of this disclosure form:
Electronic signature of ( ) Landlord(s) and/or ( ) Tenant(s)
New York State Landlord and Tenant Disclosure Form
Copyright 2020 Serhant LLC. All rights reserved.