New York law requires Compass to publish the standard operating procedures that prospective homebuyers must satisfy before receiving services from a New York Compass agent. These procedures must be applied uniformly to prospective buyers.
Prospective buyer identification
Compass does not require prospective buyers to provide identification before working with a Compass agent. Identification may still be required by building security, a homeowner, a listing agent, an open house, a showing, or another third party.
Buyer representation agreement
Compass does not require prospective buyers to sign an exclusive buyer representation agreement before working with a Compass agent. A prospective buyer and a Compass agent may choose to use one by agreement.
Mortgage pre-approval
Compass does not require prospective buyers to provide confirmation of loan or mortgage pre-approval before working with a Compass agent. A third party, including a seller or listing agent, may require proof of pre-approval before a showing, open house, offer, or other step in the process.
Official document
The official Compass New York Standard Operating Procedures PDF is available for review and download.
What this means for buyers
These procedures describe what Compass requires before a prospective buyer can receive brokerage services from a New York Compass agent. They do not remove the practical requirements that can appear later in a search. A seller, listing agent, building, managing agent, open-house host, lender, or attorney may ask for additional information before a showing, application, offer, board package, or closing step can move forward.
For that reason, buyers should separate the brokerage policy from transaction readiness. Even when identification, an exclusive agreement, or a pre-approval is not required at the beginning, having clear financing, decision-makers, timing, and documentation can make a competitive search easier to manage.
The notice is best read as a starting point for service, not the full checklist for a purchase. Once a specific property is in play, the practical next steps can include lender review, attorney coordination, building diligence, offer terms, proof of funds, and the timing needed to move without avoidable friction.
Prospective purchasers should also expect requirements to vary by property type and stage of the process. A co-op package, condominium application, townhouse inspection, attorney review, financing contingency, or proof-of-funds request may introduce separate documentation needs after brokerage service begins. Keeping those pieces organized early helps the search stay practical once a real opportunity appears.
Questions about these procedures can be handled before touring, writing an offer, or narrowing a search plan. The useful outcome is simple: everyone should understand what is required to begin service, what may be requested later, and which documents are helpful to prepare before timing becomes compressed.