New Federal Proposed Worker Classification Rules
Last week the U.S. Department of Labor proposed a new rule interpreting worker classification under the Fair Labor Standards Act, which includes an economic realities test to help determine workers' economic dependence.
The proposed rule does not impact real estate professionals' protection as independent contractors under the Internal Revenue Code.
"The National Association of Realtors® supports the protection of, and efforts to further secure, the right of real estate salespeople to work as independent contractors and for brokers to choose to classify real estate salespeople as independent contractors."
NAR will submit a comment on the proposed rule.