Since June 11, 2025, New York City's Fairness in Apartment Rental Expenses (FARE) Act has barred landlords from passing broker fees on to tenants. A broker who lists an apartment for the landlord cannot collect a fee from the renter. That fee has typically run 10% to 15% of a year's rent. Landlord groups sued, and in July 2026 a three-judge panel of the U.S. Court of Appeals for the Second Circuit upheld the lower court's ruling against them.
If your firm is weighing in-house leasing against outside brokers, the pay data below shows what you are bidding against. The metro's 14,250 property, real estate and community association managers earn a median of $96,950, 39% above the U.S. median. Its real estate sales agents earn a median of $103,550, nearly double the U.S. figure of $52,830.
Every agent you hire needs a New York real estate salesperson license from the Department of State's Division of Licensing Services: 77 hours of pre-licensing education, a state exam and sponsorship by a licensed broker. Confirm the license is active and that the candidate can move their sponsorship to your brokerage before the offer goes out. Our real estate recruiters check both as part of the screen.