Broker fee shakeup, sellers emboldened, & more
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This week, readers wanted to wrap their brains around the impact of new rules for broker fees taking effect in January, which were announced just as the major anti-trust lawsuits started shaking up courtrooms around the U.S. and spawning copycat lawsuits over broker compensation.
If you’re buying or selling in the new year, you’re also going to want to read up on the new, split-fee structure and the increased emphasis on negotiability. Don’t assume that because you’re a buyer, you won’t have to a pay a broker fee. It’s a big change for sure.
Also of interest: The lack of listings on the market is making sellers feel bold. With less competition, asking prices are seeing new highs.
Here are this week's top five posts:
2) Housing lottery offers 45 rent-stabilized apartments near Barclays Center
3) Sellers (and buyers!) should brace for a broker fee shakeup
4) NYC sellers raise asking prices to the highest level in six years
5) NYC rents slip again as listings for available apartments pile up