Last Thursday marked the six-month anniversary of the historic day on which forced broker fees officially became illegal in New York City.
Proponents of the FARE Act said it would slash the up-front costs associated with getting a new apartment. The law also came with enforcement powers that would allow the City to fine agents who tried to coerce New Yorkers into unwanted fees and compel brokers to refund forced fees. In pushing back against the law, the real estate industry claimed it'd cause rents to spike.
Six months in, what has the FARE Act accomplished?
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