New York Bill Aims to Increase Transparency in Real Estate Listings

Proposed legislation would require most residential properties to be publicly marketed, reshaping inventory access and buyer competition.

Apr. 16, 2026 at 5:23pm

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A photorealistic painting of a solitary 'For Sale' sign on a brownstone townhouse, with warm sunlight casting deep shadows across the scene, creating a contemplative, nostalgic mood.A new bill in New York aims to bring more transparency to residential real estate listings, potentially reshaping how homes are marketed and sold in the state.NYC Today

New York lawmakers have introduced the 'Fair and Transparent Real Estate Listings Act,' which would mandate that listing agents advertise properties on publicly accessible platforms within one calendar day of signing a listing agreement. The bill aims to rein in private listing networks that limit property visibility to select groups of agents or buyers.

Why it matters

The proposed legislation reflects growing concerns among policymakers that private listing networks reduce transparency and limit competition, potentially impacting pricing and access for buyers. Similar measures have already passed in other states, signaling a broader national shift towards more transparency in residential real estate transactions.

The details

Under the proposed bill, agents would no longer be able to rely solely on private listing networks to market homes. Listings must be publicly available unless a seller explicitly opts out under strict conditions, such as privacy or safety concerns. Sellers who choose to keep listings off the public market would have to sign a standardized disclosure acknowledging the risks, including reduced exposure and potentially fewer offers.

  • The 'Fair and Transparent Real Estate Listings Act' was introduced in mid-March 2026 by NY State Assemblywoman Michaelle Solages.

The players

Michaelle Solages

A New York State Assemblywoman who introduced the 'Fair and Transparent Real Estate Listings Act'.

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What’s next

The bill is currently under consideration by the New York State legislature. If passed, it would go into effect 180 days after becoming law.

The takeaway

This proposed legislation in New York is part of a growing trend across the country to increase transparency in residential real estate listings. By requiring most properties to be publicly marketed, the bill aims to address concerns about private listing networks limiting competition and access for buyers. The outcome of this bill could have significant implications for how mortgage professionals engage with and source inventory in the New York market.