Real Estate Agents Could Get Legal Clarity That Sets Them Up for New Benefits

A Congressional effort could give real estate agents more clarity about their employment protections, encouraging more full-time agents to stay in the business.H.R. 3495, the Direct Seller and Real Estate Agent Harmonization Act, would clarify real estate agents' status as independent contractors. It specifically inserts an exclusion for them into the Fair Labor Standards Act. That's an effort to ensure that those agents have legal clarity that reflects the reality of their work. Rep. Kevin Kiley (R-CA) introduced the bill, and it has 31 cosponsors of both parties.“For decades, the tax code has recognized direct sellers and real estate agents as independent contractors,” Kiley said in a statement. “These workers deserve our support to thrive, not more bureaucratic uncertainty. Clarifying our labor laws will support hard work and innovation while providing workers with the flexibility they so clearly need.”The cost to the government would be fairly small, according to the Congressional Budget Office. The U.S. Department of Labor typically collects less than $20 million in penalties for FLSA violations. But the bill would impose a private-sector mandate that workers won't have legal ...