Long Island Board of REALTORS® Launches First Local NYC Lobby Day, Advocating for Co-op Transparency and Fair Housing

Long Island Board of REALTORS® (LIBOR), together with Hudson Gateway Association of REALTORS® (HGAR) and Staten Island Board of REALTORS® (SIBOR), proudly organized its first local "NYC Lobby Day" on October 23, 2024, to empower its Queens REALTORS® to advocate directly with New York City Council members. This collaborative effort allowed REALTORS® to engage directly with Council members and their legislative staff, reaffirming their commitment to fair housing by advocating for a new law that requires transparency in co-op transactions.

As part of the initiative, LIBOR brought Queens REALTORS® to meet with Council Members Lynn Schulman (D-Forest Hills, Richmond Hill), Dr. Nantasha Williams (D-Cambria Heights, St. Albans), and Julie Won (D-Long Island City, Sunnyside). Discussions centered around the urgent need for legislation that would require co-op boards to operate with greater transparency. This is especially important as cooperative housing has increasingly become the most financially attainable option for first-time homeownership amid record-low residential inventory in New York City. LIBOR Queens members will continue their advocacy efforts in the coming weeks with more meetings, including with REALTOR® ally Council Member Linda Lee (D-Bayside, Glen Oaks). These engagements aim to secure broader support for a proposed bill sponsored by City Council Majority Leader Amanda Farías (D-Parkchester, Soundview). The Majority Leader’s bill would legally require co-op boards to respond to offers within a specified timeframe, provide written reasons for application rejections, and account for reasonable delays under good faith conditions.

“This is an essential opportunity for REALTORS® to engage directly with City Council members, advocate for our consumers, and work towards a more transparent co-op process,” said LIBOR President Kevin Leatherman. “The current lack of co-op transparency affects countless homebuyers in New York City. We are proud to collaborate with HGAR and SIBOR in leading the charge to protect consumers and advance fair housing.”

NYC Lobby Day complements the long-standing New York State Association of REALTORS® (NYSAR) Annual Lobby Day held in Albany, where REALTORS® from across New York State meet with New York State Senators and Assemblymembers to address real estate concerns and advocate for industry-friendly policies that support homeownership opportunities for all.

For more information on LIBOR’s advocacy initiatives, please visit www.lirealtor.com/advocacy.