Standard Operating Procedure

As per Section 442-h of New York State’s Real Property Law, all New York State Real Estate Brokers must institute standardized operating procedures for the prerequisites prospective homebuyers must meet prior to receiving any services. As such, all New York State Luxury Realty International agents are required to uniformly adhere to the following:

The Luxury Realty International Standard Operating Procedures are as follows:

1. Prospective Client Identification: Buyers and/or Renters who are not accompanied by an agent must provide their identification prior to entering a property or making an offer. For those Buyers and/or Renters who are accompanied by an agent, the accompanying agent must either show their identification or that of their client(s)/customer(s).
2. Exclusive Broker Agreement: Although Luxury Realty International suggests always soliciting exclusive brokerage agreements, such agreements are not required for Buyers and/or Renters to work with Luxury Realty International Agents.
3. Mortgage Pre-Approval: Proof of funds, including mortgage pre-approval when an offer includes financing, is required before making an offer to purchase or rent.

Real property owners are nevertheless free to set their own qualifying criteria, so long as such criteria is established in advance of soliciting Buyers or Renters, is applied uniformly and objectively to all Buyers and Renters, and is non-discriminatory. Further, such criteria may only be directed by a real property owner if such owner directs their criteria in writing.