Where Did All the Listings Go?

Broker fees are gone, but so are thousands of rental listings. Here’s why inventory disappeared overnight.

When the FARE Act kicked in this June, it sounded like a huge win for renters. No more broker fees passed down from landlords? Finally—some long overdue relief from sky-high move-in costs.

But just a few weeks later, something feels… off. Over 2,000 listings disappeared almost overnight, and availability dropped nearly 30%. Now, renters are asking the obvious question: Where did all the listings go?

So what happened? In short: the market blinked. With rules changing overnight and enforcement still taking shape, many landlords and brokers hit pause. Some pulled listings entirely to reassess strategy. Others shifted off mainstream platforms such as Streeteasy, moving toward private, off-market showings rather than risking public scrutiny or unclear fee arrangements.

While the FARE Act hasn’t triggered a dramatic spike in citywide rents, it has ushered in a new kind of uncertainty:

• Landlords are still adapting to the legal and financial implications.
• Brokers are reevaluating who they represent—and how they get paid.
• Renters are navigating a less transparent, more fragmented market.
• Some listings have returned with inflated “first-month” rents or repackaged “service” fees that echo the very broker costs the law was meant to eliminate.

What’s clear is this: we’re in a transitional moment. For renters, that means staying sharp. For landlords, it means leading with clarity and accountability.

At Charney, we’re positioned on both sides of the table—as a developer and as a brokerage. Our agents work directly with building owners and know exactly when units are coming to market, how the new rules are being implemented, and how to structure deals that are fast, fair, and fully compliant. Whether you’re a renter or a property owner, we’re here to help you navigate this next chapter—without the guesswork.

Curious how the FARE Act might impact your next lease or listing? Our team is here to help you.