Q. I am a licensed real estate agent and my real estate broker asked me to re-sign my Independent Contractor Agreement. She indicated that this must be done once a year. Is this correct?
A. Yes, an Independent Contractor Agreement should be signed at least once every 12 to 15 months. The reasoning for this is Section 511 of the New York State Labor Law. Section 511 provides that a "qualified real estate agent" will not be deemed an "employee" provided certain elements are met. Section 511 (19) requires, in part, that the services performed by the agent on behalf of the broker are "performed pursuant to a written contract executed ... within the past twelve to fifteen months."
The Legal Line Question by:
Neil B. Garfinkel
REBNY Broker Counsel
Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP