Episode 21: Leonard Steinberg on Proposed Rental Broker Fee Ban & His Trip to The New York Supreme Court in Albany County

In this episode, we have our Chief Evangelist of Compass join in on my show to discuss the State Legislature's proposed new law of banning tenants from paying the broker fee for rental properties in NYC. He is a proponent of the brokerage community and an influential voice in our field. Here are his takeaways about his day written from his daily contemplations:

1. You have to show up. Whining and complaining about politics is useless. Sometimes you must roll up your sleeves and get involved and make an effort. Take the time needed to get involved and have an impact. 2. The squeaky wheel gets the grease: without fail, every politician said they listen and hear the loudest, most consistent voices most. 3. You have to be looking out for the greater good. Yes, some special-interest lobbyists succeed to cater to their own hyper-localized issues, but politicians care most about pleasing the majority of voters. 4. Rehearse your message and be CLEAR about what you want, and ASK how the politicians plan to address your concerns. 5. Make your concerns public. A letter is easily filed or thrown away. As is an e-mail. A TWEET or social media post tagging specific politicians is PUBLIC. You cannot ignore that as easily. 6. Numbers count. A handful of people's voices matter. Several hundred or thousand voices will get REAL attention. And action. 7. Politicians are BRILLIANT at making you feel like you've been heard, that they REALLY CARE. Don't rely on words and promises. 8. Don't rely on 'others' to speak on your behalf. Most times they have other interests at heart. 9. Politicians listen closest to their constituents. They want to succeed and be re-elected. 10. We hired a lobbyist. I abhorred lobbyists until yesterday: without this lobbyist, we would never have been able to as effectively identify whom to meet with and how. This lobbyist acted like a great agent and we all know how important a good agent is!

As a result, the New York State Justice Mackey temporarily blocked the state’s week-old ruling that had effectively barred tenants from having to pay a broker fee, issuing at least a short-term reprieve to an industry scrambling to respond The decision was expected to stay in place until at least March 13, when Justice Mackey has asked the Department of State to respond in court. However, this restraining order does not necessarily foreshadow that the broker fee ruling will be blocked for good.

If you're interested in real estate news & politics, this is certainly an episode for you! Thank you for subscribing & listening!