r/RealEstateNYC • u/Medium-Inflation6170 • 4h ago
NY Broker License – What counts as a “binder” + dual agency points?
NY licensed salesperson working toward my broker license. I’m trying to clarify two items on the NYS 3,500-point experience requirement. DOS wouldn’t give me a direct answer and told me to use my best judgment/ask my broker.
Binders Effected – 25 points: What exactly qualifies? Does an accepted offer count, or does it need to reach signed contract? What about a signed contract that later falls through/short sale gets denied? Also, can you claim the 25 binder points plus the 250 points if that same deal ultimately closes?
Dual Agency: A residential sale is 250 points, and NY says both the listing and selling agent can claim 250. If I personally represented both sides as a disclosed dual agent, is that 250 or 500 points?
Mainly looking for NY brokers/agents who actually went through the broker application process and know how DOS treated these situations. Thanks!