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The Importance of the Disclosure Form

By Marc-Henri J. Kijner - Broker | Published on June 7, 2016 at 12:00AM
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KSI Realty New York Inc.’s Broker and President Marc-Henri J. Kijner, is proud to share with you some information about agent disclosure and client's representation. As a proud member of the Real Estate Board of New York where top brokers and industry leaders inform and educate consumers about our industry standards, we are pursuing our ongoing discussion and interaction on this subject.

Licensed Real Estate Salespersons, Broker Associates and Brokers must introduce at a meaningful point of encounter this disclosure form to prospective clients to inform them of their relationship as well as their fiduciary duties. A similar form exist for Tenants and Landlords. Brokers who fail to get either forms presented may expose themselves to fines, revoked licences and commissions. In the rare event, a client would refuse to sign the form, an agent is allowed to issue an affidavit statement to ensure that as a licensed Broker he or she did his/her job to present the form to the client but that the said client refused to sign it. 

New York Disclosure Form for Landlord and Tenant

 

The disclosure is NOT A CONTRACT and was introduced by the New York Department of State and its governing real estate entities to help consumers understand better how their Brokers will work for them and in which capacity.

We invite you to watch Neil Garfinkel, Partner at Abrams Garfinkel Margolis Bergson LLP, in the following video. As the general counsel to the Residential Committee of the Real Estate Board of New York, he has helped shape some of these consumer protection and disclosure policies:

 

 

KSI Realty New York Inc. firmly holds to the principals of knowledge sharing and professional transparency towards all its consumers. If you have any questions or concerns, you can always email us at nyc@kijner.com and our Managing Broker will respond with the utmost courtesy and professionalism that our industry dictates.

 
Tags: Education, Consumer advocacy, Disclosure forms, legal

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