NYC Council to vote on bill to banish broker fees

The New York City Council is expected to vote on legislation that would prevent renters from being forced to pay broker’s fees at its next stated meeting on Nov. 13, according to the office of Council Member Chi Ossé, who sponsors the bill. The legislation, which would shift the responsibility for paying broker’s fees to the party that hired the broker, has faced strong opposition from real estate groups and has stalled for months in the council.

“New Yorkers have been subjected to forced broker fees for too many decades, collectively turning over billions of dollars to brokers they never hired or asked for. That costly and insulting system will now end,” Ossé said in a statement. “I thank the labor unions, advocacy groups, and countless New Yorkers who came out to support the bill, without whom we never would have made it this far. The era of the forced broker fee will soon be over.”

Being brought to the floor for a vote would be the largest step forward yet for the closely watched legislation. The City Council speaker’s office has not confirmed that there is a date for the legislation to be voted on. “The bill is still going through the legislative process and, as always, the council continues to engage with stakeholders to accept public input,” a council spokesperson said in an emailed statement. The bill’s future could still change before the next stated meeting.

With 33 council members signed on as sponsors – Speaker Adrienne Adams is not yet among them – the legislation is just shy of a veto-proof majority. It’s unclear if Mayor Eric Adams, who has taken on several veto fights with the council over the last few years, would do so in this instance. He has not commented in depth on the bill. “We are going to do the bill and we’re going to see exactly how it impacts the industry,” Adams said in August. “Because I’ve had so many jobs, I think through in deliberating on these things. Idealism collides with realism when you start to try to alter entire industries.” 

Representatives for Mayor Adams and the Real Estate Board of New York did not immediately respond to requests for comment.