New York Codes, Rules and Regulations (NYCRR)
Title 9 Part 276
Executive Department
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9 NYCRR 276.1 - Purpose
Source version current through Sep 15, 2021
Later State Register activity may affect this section.
Dates and status
- NYCRR title agency
- Executive Department
- Section status
- Section source receipt
- Source version current through
- Sep 15, 2021
Subdivision 1 of section 33 of the Public Lands Law authorizes the Commissioner of General Services to pay a commission, when offered, to a licensed real estate broker upon sufficient evidence that said broker brought about the sale of unappropriated State land. This Part implements that authority and establishes standards and requirements pertaining to such payment.
9 NYCRR 276.2 - Broker commission
Source version current through Sep 15, 2021
Later State Register activity may affect this section.
Dates and status
- NYCRR title agency
- Executive Department
- Section status
- Section source receipt
- Source version current through
- Sep 15, 2021
(a)The commissioner shall make a determination, prior to sale of unappropriated State land, whether a commission shall be made available to real estate brokers and, if so, to what extent, where such commission is deemed to be necessary to stimulate interest in a particular sale. In no event shall the rate of commission exceed six percent of the purchase price of the realty being offered for sale.
(b)In any such sale where a broker commission is offered, notice as to the offer and extent of said commission shall be included in the publication of any notice of sale pertaining to the realty being offered for sale.
(c)A broker commission shall be paid only to a broker who qualifies under and complies with the standards and requirements of section 276.3 of this Part. Said commission, if payable, shall not be paid prior to transfer of title from the State to the purchaser. In the event such transfer of title does not occur for any reason, no broker commission shall be paid.
9 NYCRR 276.3 - Broker qualification
Source version current through Mar 15, 2023
Later State Register activity may affect this section.
Dates and status
- NYCRR title agency
- Executive Department
- Section status
- Section source receipt
- Source version current through
- Mar 15, 2023
(a)A broker commission shall be paid only to a real estate broker licensed as such at the time the sale was procured for the purchaser.
(b)A broker seeking to qualify for a broker commission under section 276.2(a) of this Part shall, prior to the day of auction, file with the commissioner a copy of such broker's real estate broker license along with a sworn affidavit stating, in substance, the following:
(1)the name, business address, affiliation and licensure status of said broker;
(2)the nature of the agreement between the broker and the bidder-purchaser for procurement of the sale;
(3)in what manner the broker brought knowledge of the auction to the bidder-purchaser;
(4)that no other commission is sought or will be paid to the broker on the particular sale;
(5)that no part of the broker commission, if paid by the commissioner, shall be paid to any other person, firm or legal entity of any kind or nature, including the bidder-purchaser;
(6)that the bid in the particular sale is made without collusion and with no attempt to restrict competition;
(7)that the broker is not the purchaser or a stockholder, director, officer or partner of the bidder-purchaser;
(8)that the bidder-purchaser is not the broker or stockholder, director, officer or partner of the broker; and
(9)that the broker and the bidder-purchaser have no common stockholder, director, officer or partner.
(c)A bidder-purchaser who employs a broker to procure a sale under this Part shall, prior to the day of auction, file with the commissioner a sworn affidavit stating, in substance, the following:
(1)name, address and intent to bid at the particular sale;
(2)the nature of the agreement between the broker and the bidder-purchaser for procurement of the sale;
(3)in what manner the broker brought knowledge of the auction to the bidder-purchaser;
(4)that the bid in the particular sale is made without collusion and with no attempt to restrict competition;
(5)that the bidder-purchaser is not the broker or a stockholder, director, officer or partner of the broker;
(6)that the broker is not the bidder-purchaser or a stockholder, director, officer or partner of the bidder-purchaser;
(7)that the bidder-purchaser and the broker have no common stockholder, director, officer or partner; and
(8)that it is understood that the consummation of the sale is in no way dependent or contingent upon the payment or nonpayment of the broker commission.
(d)The commissioner may modify the content of the sworn affidavits required under subdivisions (b) and (c) of this section and may require other and further affidavits, documentation and information as may be deemed necessary in making a determination as to payment or nonpayment of the broker commission.