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Hi Steve,
I never heard of RE agents getting the right to sue a coop in any discussion of the bill either. We had an open house last night. The two agents handling it were in the lobby. One of them heard the WNYC show and were discussing it.
I asked if they're for the bill and agents' right to sue. One of them said, "I'm out to make a commission. I'm sick of boards rejecting people and making me work harder. If I can sue and get money for the time I spend on rejects, I'm all for it." An owner (never on the board) walked by, heard this and said, "Maybe you should focus more on finding qualified people who'll make good owners and neighbors and less on making money as fast and easy as you can. If boards should be accountable for good ethics and practices, so should you." Can't say I disagree with that.
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I should clarify my point about suing.
The bill does not give injured parties the right to sue. It gives them the right to make a complaint to a city attorney, who can then file charges.
But the bill does, in fact, include real estate agents. Under Chapter 11, Section 8-1102, Paragraph C, " 'Proper party' means a person whose application has been rejected or a real estate broker who would have been entitled to a commission ..."
Later, in Section 8-1105, the bill allows "each proper party" to receive from a co-op found guilty fines ranging from $1000 to $25,000.
So no, real estate agents couldn't sue. But they would reap the benefits of a guilty verdict -- and would have reason to encourage a city attorney to file charges.
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