LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NEW YORK CITY—The leadership of OneKey® MLS, the premier regional multiple listing service for New York, joined thousands of real estate colleagues on May 19 for The Real Deal’s New York City Showcase and Forum at The Metropolitan Pavilion in Manhattan.
The day-long event attracted approximately 2,500 attendees from commercial and residential real estate, development, brokerages, financial services and investment and professional services. The forum featured more than 50 exhibitors, networking opportunities, and panel discussions on industry trends such as climate change, COVID-19 and workplace uncertainty and technology transforming real estate.
One of the featured speakers was New York City Mayor Eric Adams, who spoke about “repositioning” New York City and cited the real estate sector’s significant financial impact on the city. “What oil is to Texas, real estate is to New York,” Mayor Adams said.
The event also offered the opportunity for networking and deal-making—and the OneKey® MLS team showcased the benefits of New York’s regional Multiple Listing Service.
“The real estate market is very competitive and agents need every advantage they can get to succeed in this marketplace,” said Jim Speer, CEO of OneKey® MLS, which is owed by Long Island Board of Realtors and the Hudson Gateway Association of Realtors. “By joining OneKey® MLS, you get access to a great amount of business tools—Realtors Property Resource, Listrack, RatePlug, market reports and much more—that will help you do business better.”
Richard Haggerty, President and Chief Strategic Growth Officer of OneKey® MLS, and Chief Executive Officer of HGAR, noted the significance of working together to better the industry for agents and consumers.
“We’re thrilled to join so many of our colleagues here at The Real Deal forum and share market insight and key industry trends,” Haggerty said. “Manhattan is the epicenter of New York City and New York City is the epicenter of the greater New York City suburban area, which is the most powerful geography in the world. OneKey® MLS leverages the power of that geography to better our members’ ability to serve consumers. So, we think it’s a win-win for everybody to be here.”
OneKey® MLS currently features more than 25,000 active listings—from Montauk through New York City up into Sullivan County—and almost 12,000 of those listings are in New York City. OneKey’s consumer-friendly website—OneKey® MLS—attracts 367,000 monthly visitors and had some 4.4 million visitors in 2021. For information, go to www.onekeymlsny.com.
OneKey® MLS has 46,000-plus subscribers and serves Manhattan, Westchester, Putnam, Rockland, Sullivan, Orange, Nassau, Suffolk, Queens, Brooklyn, and the Bronx. It was formed in 2018 by the Hudson Gateway Association of Realtors and the Long Island Board of Realtors.
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