NY targets pocket listings
New York state lawmakers are pushing a bill to crack down on private or “pocket” listings — the change would force more public exposure for inventory and could reduce off‑market deal flow. That’s a direct headwind for private‑sale strategies and off‑market wholesalers in the NY market. (therealdeal.com)
Assembly bill A10679, introduced March 20, 2026 by Assembly member Michaelle Solages, is formally titled the "Fair and Transparent Real Estate Listings Act" and is active in the 2025–2026 legislative session. (nysenate.gov) The text requires sellers’ agents to advertise or market listed residential properties on platforms “accessible to the general public” and Real Deal reports the proposal would require public marketing within one day of signing a listing agreement. (nysenate.gov) Non‑public marketing would be permitted only after a seller gives informed, written direction following receipt of a standardized state disclosure that details the “risks and tradeoffs” of withholding a listing from public marketing. (nysenate.gov) The measure explicitly allows sellers to opt out for “bona fide privacy [and] safety” reasons, and Real Deal reports enforcement would fall to the New York Department of State with penalties ranging from fines to suspension or revocation of a broker’s or salesperson’s license. (therealdeal.com) The bill’s legislative findings say open access to residential listings is essential to fair housing opportunity, market competition and accurate price discovery, and identify private listing networks as a practice that can reduce the pool of potential offers and risk segregation. (nysenate.gov) Vice President and chief lobbyist for the New York State Association of Realtors Michael Kelly said the group has not taken a position but supports ensuring consumers understand trade‑offs, and Real Deal flagged the proposal as potentially damaging to brokerages that lean on off‑market strategies, naming Compass specifically. (therealdeal.com)
