The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

What Is a Protected Buyer List in NYC Real Estate? (2026)

February 25, 2026 by Georges Benoliel

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In NYC real estate, a protected buyer list includes names of buyers on whom your listing agent can still earn a commission after the original listing agreement expires. This list is alsoWhat Documents Do You Need When Buying A Home Without A Realtor? Protected Buyer List known as a protection clause, safety clause, or extender clause in real estate terminology.

If a named purchaser on the protected buyer list signs a contract to buy your property within a specified period after the listing agreement expires, the original listing agent is eligible for a commission as outlined in the listing agreement.

The terms for the protected buyer list are in your listing agreement and usually include the number of names allowed, the time frame for the listing agent to submit the list after the agreement ends, and the time frame for the agent to secure a signed contract from a buyer on the list.

A protected buyer list motivates your current listing agent to actively seek offers from the most serious buyers who have viewed your home during the listing period.

For example, if a buyer views your property on day 179 of a 180-day listing and is considering making an offer, the protected buyer list prevents your agent from neglecting this lead.

Even if you’ve signed with a new agent who plans to relist immediately, changing agents can cause confusion or hesitation among interested buyers. Additionally, your current agent is not required to share detailed information about interested parties or facilitate introductions to the new agent for any remaining prospects.

A protected buyer list typically includes up to 6 names, though this may vary depending on the listing agreement.

The specific terms of such a list are negotiable.

Here is an example of protected buyer language commonly seen in a NYC listing agreement:

Within three (3) business days after the listing term ends, we will provide you with a written list of no more than six (6) individuals who inspected the premises during that period. If, within ninety (90) days after the listing expires, a contract is signed to sell the Property to someone on that list, we will receive the Service Fee specified in this agreement. You confirm that if a new exclusive listing agreement is signed with another broker (the “New Exclusive Broker”), you will inform the New Exclusive Broker (a) about this provision and (b) that the current broker may directly negotiate with you regarding the clients on the list during the ninety (90) day protected period.

In this example, the original listing agent must submit a list of up to six names to the seller within 3 business days after the listing term ends. The agent qualifies for a commission only if a listed buyer signs a purchase contract within 90 days of the listing agreement’s expiration.

The example language above also requires the seller to disclose the protected buyer list to the new listing agent. It’s crucial that your new broker agrees to exclude these names from commission obligations in the new listing agreement.

Failing to secure a carveout for the protected buyer list may force you to pay double commissions if a protected buyer purchases your property.

For instance, paying 6% to your old agent and 6% to your new listing agent results in total costs of 12%, which could cause your overall seller closing costs to reach 14% to 16%.

Essentially, this might mean rejecting offers from the protected buyer, even if you would have otherwise proceeded, due to the risk of double commissions. As we’ve noted, having a protected buyer list is highly beneficial for you as a seller.

It motivates your old broker if they are in contact with potential buyers. Your main goal remains to sell, regardless of your satisfaction with your current listing agent. Additionally, a protected buyer list fosters competition between your old broker and the new agent, leading both to work harder to bring you offers quickly.

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Tags: Buying in NYC
Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

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