GSA Eases Relocation Burden: Now Reimbursing Home Buying Agent Commissions
The General Services Administration (GSA) has announced a significant change to its Federal Travel Regulation, effective August 17, 2024. This update responds to evolving practices in the real estate industry and aims to ease financial burdens on relocating federal employees.
Previously, federal workers were not reimbursed for their home buying agent's commission during relocation. However, with the rise of agreements specifying compensation amounts or rates at the outset of the home buying process, the GSA has decided to temporarily waive this prohibition.
The new rule, filed for publication in the Federal Register on Wednesday, allows federal workers to be reimbursed for their buying agent's commission. This change is retroactive to August 17, 2024, and will remain in effect until further notice.
The GSA's decision to update its reimbursement policies aligns with current housing market conditions and reduces financial strain on relocating federal employees. The temporary waiver of the prohibition on reimbursing buying agent's commissions takes effect on August 17, 2024.
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