NEW YORK — New Yorkers may have said goodbye to broker fees too soon.
A judge issued a temporary restraining order Monday, stopping guidance by the state on the fees. The Real Estate Board of New York had filed a lawsuit.
“The entry today by the Court in Albany of an order temporarily halting the implementation of New York State Department of State’s (DOS) interpretation of the Statewide Housing Stability and Tenant Protection Act means that thousands of hardworking, honest real estate agents across New York State can do business in the same way they did prior to last week’s DOS memo without fear of discipline by the DOS," Real Estate Board of New York President James Whelan and New York State Association of Realtors President Jennifer Stevenson said in a joint statement.
Arguments over the issue will continue in court in March.
The impact of the state's decision to end broker fees for renters was "immediate and devastating" for the New York real estate brokerage community, according to the petition REBNY filed in court in Albany. There was "confusion and havoc."
PIX11 has reached out to the Department of State for comment.
Anyone seeking to file a complaint over broker fees can access a form here.