This applies to nearly all buildings six (6) or more units in NYC or any of the Rent Stabilized localities throughout New York State.I'm NOT active in New York City (or suburbs) any longer due to these guidelines or myriad other anti-landlord rules & laws; however, I can say many realtors do NOT understand what they're selling so BEWARE:  I've had realtors say the units "have preferential rents, isn't that great?"

@Denise Evans should have some great insight on this.And, maybe shed some light on the anti-squatter legislation that governor mee-maw signed a while back.

There has never been a standard commission of course (anti-trust laws), but now it is a very different time than it was the last few years!

The media often tries to dramatize things and there is a lot of anti-landlord narrative out there, maybe that's where the 8% comes from?

Rent control also usually co-exists with other onerous anti-landlord policies. 

For example, BP has been pretty consistently anti-guru for all the years I've been here, yet people still come in here to post about this or that guru or how they lost all their money.

Here's a breakdown of the key implications:Background of the NAR Settlement:The lawsuit against the NAR focused on claims of anti-competitive practices, particularly related to commission structures.

BP used to be the "anti Carleton Sheets" platform, but the good ol days are gone! 

He has amazing advice and attribute everything I've done to his advice (despite a lot of people being anti-Robert Kiyosaki... thanks to him I work whenever I want, from wherever I want, and figured out cool investing stuff).Reach out with any questions!

By no means should this be interpreted as an anti-BRRRR post.