Standard Operating Procedure

The SOP Law requires a real estate broker to provide specific guidance to prospective homebuyers regarding three questions: (1) whether prospective clients shall show identification, (2) whether an exclusive broker agreement is required, and (3) whether pre-approval for a mortgage loan is required. To be clear, a real estate broker is not required to ask for any of these three things. The real estate broker is simply required to let homebuyers know whether or not they will require any one, two, or three of these items.

Please be advised that Racing City Realty:

  • Requires prospective buyer clients to show identification
  • Requires exclusive Buyer-Broker Agreements
  • Requires pre-approval for a mortgage loan/proof of funds

Standard Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law