Pocket listings face another setback as New York advances crackdown

The state Legislature passed a bill on June 1 that requires agents to publicly market properties unless sellers or landlords opt out by signing a disclosure warning that private listings can reduce exposure and competition. The legislation’s passage comes as policies on private listings from the National Association of Realtors and Zillow, and the use of exclusives by Compass, have evolved in recent years, pushing the debate on listing marketing and transparency practices into state legislatures. New York lawmakers passed the Fair and Transparent Real Estate Listings Act just five days after Connecticut’s governor signed a similar bill into law, […]

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