GSA Temporarily Allows Federal Workers to Reimburse Real Estate Agent's Commission
The General Services Administration (GSA) has introduced a temporary change to its Federal Travel Regulation. Effective Aug. 17, 2024, the GSA is waiving its ban on reimbursing federal workers for their real estate agent's commission when buying a home after relocation. This move comes in response to changes in the residential real estate industry and follows updates to cost reimbursement rules for federal employees.
The GSA's decision is retroactive to Aug. 17, 2024, and will remain in effect until it is explicitly canceled or superseded. This means that federal employees who have relocated and purchased a home since that date may now be eligible for reimbursement of their realtor's commission. Previously, such reimbursement was prohibited.
The change follows an announcement by the Federal Ministry of Finance, which clarified and modified the rules for cost reimbursement related to the sale of a house with work-related obligations. This includes the cost reimbursement rules for buyer realtors in such sales by federal employees. As of Aug. 17, 2024, home buyers must negotiate their realtor's commission at the outset of the home buying process.
The GSA's temporary waiver of its prohibition on reimbursing federal workers for their realtor's commission is a significant change in policy. This move aims to accommodate changes in the residential real estate industry and provide clarity to federal employees regarding cost reimbursement rules. The waiver is effective upon the date of signature and will remain in effect until explicitly canceled or superseded.
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