REBNY dues to rise by as much as 17 percent in 2012

The Real Estate Board of New York has increased the annual membership dues by as
much as 17 percent in what will be the first fee increase for the influential group since
2008.

The city’s leading real estate trade organization will be sending out renewal notices in the coming weeks to its more than 12,000 members. The payments are due Jan. 1, the group says.

The percentage hikes are somewhat higher than the last time there was an increase, four
years ago.

For commercial associate brokers the fee rises 11 percent to $550 from $495, and for
commercial salespersons, it increases 17 percent to $375 from $320.

For residential associate brokers, the fee rises 11 percent to $425 from $381, and for
salespersons it bumps up 10 percent to $275 from $250.

“The 2012 dues change comes after four years of no increases and the leadership felt a
dues increase is warranted to maintain REBNY’s ongoing activities,” Frank Marino, a
spokesperson for REBNY, said, adding that the executive committee voted in September to implement the dues hike.

In the 2008 increase, dues for commercial associate brokers were raised by 9 percent, or
by $40, to $495, and commercial salesperson dues rose by 14 percent, or by $40, to $320.
But residential brokers and agents, who outnumber commercial professionals in REBNY
membership, at the time saw their dues actually cut by 16 percent, or $74, to $381 for an
associate broker, and by 11 percent, or by $30, to $250 for a salesperson.