NAR Claps Back on 6% Commission Requirement Reports, Corrects the Record by Stating NAR Does Not Set Commissions
The listing broker retains the right to determine the amount of compensation offered to subagents, buyer agents, or to brokers acting in other agency or nonagency capacities, which may be the same or different.”
NAR President Sears Says ‘Settlement Represents a Pivotal Moment for Our Association and Our Industry’
In the settlement, we have agreed to require MLS participants working with buyers to enter into written representation agreements with their buyers. This change will go into effect in mid-July 2024.
BREAKING NEWS: NAR Reaches $418-Million Agreement to Settle Most Broker-Commission Cases; Agrees to Commission Rule Changes
In addition to the financial payment, NAR has agreed to put in place a new MLS rule prohibiting offers of broker compensation on the MLS.
HGAR Officials Brief Orange County Members on Market and Legal Trends
HGAR’s Fernandez reported to the more than 60 attendees that the association will release its latest Strategic Plan soon and asked that all members fill out their Member Engagement Profiles.
NAR’s Yun Predicts Four to Six Rate Cuts in Next Two Years; Continued Troubles for Office Market
A key data point will be the CPI reaching its 2% target. The latest CPI number for February was 3.1%.
Orange County Advanced Manufacturing Project Secures NY State Shovel-Ready Grant
The development will feature multiple buildings in a variety of sizes tailored for advanced manufacturing uses.
Navigating the Difficulties of the Multifamily Market
The panelists blamed a host of problems on the passage of the Housing Stability and Tenant Protection Act (HSTPA) by New York State in 2019.
Federal Reserve Bank of NY CEO Continues to Say Economy Must Hit Inflation Target of 2% Before Rate Cuts
Williams told the Garden City gathering. “While the economy has come a long way toward achieving better balance and reaching our 2% inflation goal, we are not there yet.”
Northwell Health to Expand Hudson Valley Presence with Nuvance Health Deal
If the agreement is finalized, it will combine the strengths of both organizations and advance the level of care for patients in New York and Connecticut.
Coalition Calls on State Legislature to Dig Up $650 Million to Patch Region’s Potholes
A report by TRIP, a Washington, DC-based national transportation research non-profit, calculated that crumbing roads and potholes cost New York State drivers $8.7 billion—an average of $715 per driver—last year in repairs, fuel and wear and tear.
Regeneron’s Expansion Propels Westchester IDA to Record Year in 2023
Like 2022, the Regeneron was the IDA’s largest project by far in 2023. The expansion project is expected to create more than 2,700 construction jobs.
White Plains Granted $10 Million in Downtown Revitalization Funding by New York State
In addition, the governor reported that two Orange County communities—the villages of Highland Falls and Montgomery—$4.5 million each from the NY Forward program.