The Real Deal New York

WATCH: The Commercial Real Estate Board of New York? Not so fast!

REBNY prez John Banks points to RLS as major victory for resi brokerages
By Jhila Farzaneh and Kerry Barger | October 12, 2017 02:15PM

Residential brokers would argue the long-awaited launch of the Real Estate Board of New York’s syndicated listings service was a major win for the brokerage community. But despite scoring a decisive victory over StreetEasy, some critics argue REBNY hasn’t done enough for the city’s residential brokerages.

The trade organization’s contributions to commercial developers and brokers, like the renewal of 421a and the rezoning of Midtown East, have been far reaching. Though it appears one-sided, REBNY president John Banks says these issues have a greater impact on the wider public.

“There aren’t broad public policy issues for the brokerage community,” Banks told The Real Deal’s Hiten Samtani during a recent interview. “They’re independent contractors, and there’s not a lot the political process — which is where REBNY is publicly known — can provide for them.”

To see Banks talk more about the organization’s contributions to the residential brokerage community, watch the video above. See the full interview here.

Produced by Jhila Farzaneh and Kerry Barger. Interview conducted by Hiten Samtani.