No More Forced Broker Fees

Yesterday, the FARE Act went into effect. The new law prohibits landlords from passing off broker fees onto tenants. Now, whoever hires the broker has to pay the fee. Even though Mayor Eric Adams declined to sign the bill, it became law in December anyway because the City Council initially passed it with a veto-proof majority.

Real estate agents and landlords, such as the New York State Association of Realtors, opposed the bill. They said it would cause rents to rise in order to make up for the lost fees. But the main sponsor of the bill, Council Member Chi Ossé of Brooklyn’s District 36, hopes it will save New Yorkers thousands of dollars when looking for apartments.

“The broker fee was wrong, abusive, exploitative, and frankly disgusting,” Ossé said on Instagram yesterday.

This story ran on the What’s What podcast from WFUV News on June 11, 2025.