Legal Question in Real Estate Law in New York

How are kickbacks handled in New York State?

I know of a few real estate brokerages which pay kickbacks to renters and those who refer renters. What does the department of state do in such an instance? Would the department shut them down, or does the department of state just charge them a fine? What if the business is unlicensed, does the department of state usually issue a fine and say ''get licensed'' or does the department of state put them out of business permanently?

More specifically, what does it usually take to shut down a brokerage which uses illegal practices.

Thank you for your time


Asked on 7/10/03, 1:51 pm

1 Answer from Attorneys
Debra Palazzo Law Offices of Debra Palazzo, LLC

Re: How are kickbacks handled in New York State?

Kickbacks are illegal for RE brokerages. Unlicesed/Illegal kickbacks must be reported to DOS to investigate. My personal experience is that I have been disappointed in DOS in investigating unlicensed RE Brokerages. BUT, you should make a written report to DOS nonetheless.

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Answered on 7/10/03, 8:32 pm


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