Standardized Operating Procedures for Prospective Homebuyers
Pursuant to New York State Law:
Each real estate broker shall institute standardized operating procedures for the prerequisites prospective homebuyers must meet prior to receiving any services. Such standardized operating procedures shall include but not be limited to the following:
(i) whether prospective clients shall show identification; (ii) whether an exclusive broker agreement is required ; (iii) whether pre-approval for a mortgage loan is required.
Real estate brokers shall date stamp, notarize and post such standardized operating procedures on any publicly available website and mobile device application they maintain, shall make a copy of such procedures available to the public upon request at their office locations, and shall maintain a file of such standardized operating procedures while the broker’s license is active. Any website or mobile device application maintained by a team or a real estate salesperson should also have the broker’s policies posted or have a direct link from such website or mobile device application to the broker’s website or mobile device application. If any alterations are made to the standardized operating procedures subsequent to such posting, real estate brokers shall date stamp, notarize and post such new standard operating procedures on any publicly available website or mobile device application they maintain within thirty (30) days, and archive such alterations.
SOP for prospective homebuyers prior to receiving any services from HAVE YOU FOUND THE ONE LLC d/b/a/ HYFTO are as follows:
1. Identification
HYFTO does not require prospective homebuyers to show identification.
2. Exclusive Broker Agreement
HYFTO does not require exclusive broker agreements for prospective homebuyers to work with only HYFTO, but they should be solicited.
3. Pre-Approval For a Mortgage Loan
HYFTO does not require pre-approval for a mortgage loan prior to receiving any services. Pre-approval for a mortgage or confirmation of a loan is required before making an offer to purchase when an offer includes financing.
Based on the requirements of property owner(s), seller(s), sponsor(s), developer(s), listing broker(s), listing agent(s), managing agent(s), or others, some or all of the foregoing items may be required. Property owners and/or sellers may set their own criteria prior to soliciting homebuyers, and it may only be directed in writing inclusive of date. Such criteria must be applied uniformly, objectively, and be non-discriminatory.
This policy will be amended to include any other standard operating procedures as required by New York State law.
Date: April 20,2022
