On December 24, 2025, the Second Department issued a decision in Yellin v. Revival Prop. Group, LLC, 2025 NY Slip Op. 07332, holding that a real estate broker has a fiduciary duty and representation of multiple parties to a transaction must therefore be disclosed, explaining:
A real estate broker is a fiduciary with a duty of loyalty and an obligation to act in the best interests of the principal. Where a broker’s interests or loyalties are divided due to a personal stake in the transaction or representation of multiple parties, the broker must disclose to the principal the nature and extent of the broker’s interest in the transaction or the material facts illuminating the broker’s divided loyalties. A breach of this duty of loyalty by a real estate broker may constitute a fraud for which the broker is answerable in damages. Here, the complaint sufficiently alleged, and the defendants’ documentary proof failed to utterly refute, that the defendants represented multiple parties to the transaction without disclosing that fact to the plaintiffs and thereby breached their fiduciary duty to the plaintiffs. In particular, the last page of a Real Property Law § 443 disclosure form bearing the signature of only one of the plaintiffs did not warrant dismissal of the second cause of action pursuant to CPLR 3211(a)(1).
(Internal quotations and citations omitted).