All brokerage firms in New York State are required to institute standard operating procedures to qualify home buyers and renters.
The Staller Associates Realty Inc. standard operating procedures are as follows:
1. Prospective Client’s IDs: not required before entering a property, but a copy is required prior to lease signing or execution of purchase and sale agreement.
2. Exclusive Brokerage Agreement: exclusive brokerage agreements are not required.
3. Pre-approval/Proof of Funds: proof of funds (excluding source of income), including mortgage preapproval when an offer includes financing, is required before making an offer to rent or purchase.