In November, the New York City Council passed the FARE Act that requires the person hiring the real estate agent to pay the agent’s fees. This goes into effect on June 11th of this year pending litigation. At this time, there is no proposed legislation for Westchester County NY and Fairfield County CT. Most have already reduced to 1 month’s …
The Impact of the NAR Settlement for Renters
As the real estate industry implements the required changes resulting from the National Association of Realtors (NAR) settlement, the focus has been on buyers. The real estate community is fueled by buyers and sellers though the corporate relocation industry is fueled by sellers, buyers, and renters. With over 60% of corporate transferees renting, the NAR settlement means changes for agents …