Tag

Broker Fees

All articles tagged with #broker fees

business1 year ago•4 min saved

NAR Settlement Approved Amidst Ongoing Broker Fee Disputes

The US Department of Justice has raised antitrust concerns over a recent $418 million settlement involving the National Association of Realtors (NAR), which mandates new rules for real estate broker commissions. The DOJ's objections focus on a requirement for written buyer-broker agreements, potentially leading to further legal challenges. Despite a Missouri judge approving the settlement, real estate professionals remain worried about future lawsuits and the impact on their industry. The settlement aims to change how commissions are negotiated, but the DOJ's late intervention has left many Realtors uncertain about compliance and potential legal risks.

via CNN|

#antitrust #broker-fees #business

real-estate1 year ago•2 min saved

NYC Council Ends Broker Fees for Tenants, Shifts Cost to Landlords

The New York City council has passed the Fairness in Apartment Rental Expenses Act (Fare), which eliminates broker fees for tenants, shifting the cost to landlords. This move aims to reduce the high upfront costs of renting in the city, where the median rent is $3,500. The bill, passed with a veto-proof majority, will take effect 180 days after becoming law. While Mayor Eric Adams has expressed concerns about the impact on small property owners, the legislation is seen as a step towards fairness in rental expenses.

via The Guardian US|

#broker-fees #housing-policy #landlords

real-estate1 year ago

NYC Council Poised to Pass Bill Shifting Broker Fees to Landlords

A new bill is expected to pass that will shift the responsibility of paying broker fees from renters to landlords, potentially easing the financial burden on tenants in the housing market.

via The New York Times|

#broker-fees #housing-market #landlords