In February, a bill was introduced that would limit the commission brokers could earn in a rental transaction to one month’s rent. Immediate backlash from brokers ensued and then lawmakers’ positions started to change — as of now at least three Council members have withdrawn their support. On top of that, one of the bill’s prime sponsors claims he’s always had a completely different vision for what this bill would do. Check out the video above to see reporter Erin Hudson explain what’s happening with the proposed legislation and where the real estate industry stands right now.
WATCH: How the real estate industry moves to kill a bill on rental commissions
In February, a bill was introduced that would cap the income brokers could earn on a rental transaction. Here's what's happened since
TRD New York /
May.May 20, 2019 11:30 AM