NAR submitted two letters to the U.S. Department of Labor (DOL)—one standalone letter, and one joint letter along with the Direct Seller Association (DSA)—to express concerns regarding the Employee or Independent Contractor Classification Under the Fair Labor Standards Act new rule, and how it may impact real estate professionals.
NAR is requesting that the Department of Labor delay implementation of the rule until the Department issues additional guidance. NAR also requested industry specific guidance that considers the Internal Revenue Code (IRC) carve out for real estate agents, and that recognizes state laws governing how real estate professionals should be classified.
NAR will continue in its advocacy efforts on worker classification matters impacting the real estate industry.