A title has to mean something or it can't go on a business card. (flickr, rthrelkeld)

So much for all the senior vice presidents, vice presidents, executive vice presidents, managing directors and all the other clunky important-sounding titles that real estate brokerages love to parcel out to their top-sellers. For a long time, brokerages have crowned their best and brightest with meaningless titular appendages that brokers are only too happy to slap on their business cards. Now the satisfaction of a job well done, big fat commission checks and the money and power that come with selling millions of dollars in real estate will have to be reward enough.

As the Wall Street Journal reported, New York State is putting the kibosh on all the fake fancy titles because, as it happens, most people who sell real estate are actually prohibited from holding them.

In a kind of weird catch-22 outlined in a letter that the state recently sent to the Real Estate Board of New York's attorney in response to a question about the use of titles, brokers can't hold or promote themselves using titles unless they are actually officers of the corporation. Brokerages can't just dole out the ultimately empty titles to reward top-producing salespeople. The titles, the state's decision concludes, cannot be used for marketing purposes.

But as it turns out, the titles also can't be legitimately bestowed on any agents or associate brokers, because real property law prohibits a real estate salesperson, a.k.a. anyone selling real estate—including associate brokers—under another broker, from holding a corporate management position.

"These provisions prohibit a real estate salesperson from holding voting stock or being appointed an officer in a corporate brokerage, a manager or membership of a limited liability corporation or a member of a partnership," the decision states.

In other words, all those SVPs, EVPs and VPs out there are prohibited from calling themselves such unless they are elected or appointed to a corporate management position, but most people who sell real estate can't legally be appointed.

It appears that only brokers can legitimately take fancy titles, if their brokerages actually appoint them. It's unclear how many New York City brokers will be affected by the ego-deflating decision, but it's almost certain to cause tumult in the status-obsessed industry.

As one brokerage spokesman griped to The Journal. "How would you present yourself in the industry without a title? People would be very upset."

But while the decision is sure to ruffle a lot of feathers (and require more than a few business card reprintings), given that the city's real estate community came through the mortgage crisis relatively unscathed, we're sure that it can manage to carry on with a few less SVPs.

They won't go hungry! (Bracha Blog)

Last year, Ilan Bracha told The Observer his new firm, Keller Williams NYC, would be No. 1 within five years.

It was a strong boast in a town already packed with real estate brokerages, where the business is a blood sport. But he was rolling out a franchise of the nation's biggest brokerage, one that has a very popular system that an mean huge commissions for top producers, of which New York has many.

Still, a little over a year in, Keller Williams NYC has struggled to succeed in New York, according to Crain's.

To its credit, the company has succeeded in attracting 174 brokers and in opening a fancy new Park Avenue headquarters earlier this month, but observers note that the New York franchise has yet to lure any of the city's top producers or land many exclusive listings—much less high-profile ones. And in a city dominated by two brokerage giants, Prudential Douglas Elliman and the Corcoran Group, as well as a host of other established firms specializing in neighborhoods or in specialized segments—from townhouses to high-end co-ops—Keller's lack of a recognizable brand name hurts it here.

[...]

But in New York so far, the industry's key players—the top brokers—have given the firm a pass. The only star Keller Williams NYC has attracted to date is Ilan Bracha, who co-founded the New York franchise and today is its chairman. Previously, he was a top-ranked Prudential Douglas Elliman broker.

Getting others to follow will be tough. Big brokerages tend to pamper their star producers, showering them with assistants, as well as marketing and back-office support. Even more important for some, top producers at big firms can typically negotiate higher commission splits.

"If you are a listing agent, which is what most agents strive to be, firms like Elliman and Corcoran have a vast infrastructure, brand recognition and relationships with developers that other firms don't have," said Raphael De Niro, a top producer at Elliman.

Crain's points out that other national franchises like Century 21 and Coldwell Banker have likewise failed to break into the big city, where the business is essentially a giant club, but some have made it, notably the luxurious Sothebys and Prudential, though the latter did it by buying up an established name, Douglas Elliman. With no such advantages, can KW NYC make the leap?

mchaban [at] observer.com | @MC_NYC

Shlomi Reuveni

It was a clear fall day on the Upper West Side as Shlomi Reuveni walked briskly down Broadway. Rising on either side were the Art Deco and Gothic buildings with their enduring cornices and hand-laid bricks, the quintessence of Uptown living.

Mr. Reuveni was headed for the Laureate, a recently completed condo building that has been quietly commanding some of the top prices in the neighborhood, thanks largely to his efforts as the building’s broker. High profile notwithstanding, The Observer almost walked right past the place. It may have been Mr. Reuveni’s broad stride that distracted us from the entrance on 76th Street. Or perhaps it was the luxury building’s understated glory. The Laureate is camouflaged, almost theatrically so, to match its surroundings. The faux prewar detail is impressively comprehensive, from the painted iron balconies to the granite and limestone facade.

“Hey Shlomi!” the man at the front desk called out. “Hello!” Mr. Reuveni responded, beaming brighter than the lights of the lobby’s artificial Christmas tree.

He showed us around the model apartment and an unfinished penthouse, introducing the building with the pride of a new father. Having worked on the concept of the Laureate since the site was still an Avis parking garage, Mr. Reuveni personally oversaw every stage of the project, coordinating with the developer, designers, marketers and agents, taking the building from blueprints to move-in.

Currently enjoying impressive success in sales, the Laureate has benefited from its broker’s dedication. Since late August, Mr. Reuveni and his team at Brown Harris Stevens Select have sold 46 apartments totaling $239,376,708. This does not count the four other developments he is responsible for, with dozens of more deals in each. Mr. Reuveni may well have become the top-selling agent in the city.

Tour the Domain of Shlomi Reuveni >>

Mr. Reuveni has found himself riding high in New York’s top-end real estate market, a fact manifest in his upright strut as he toured around the newly minted edifice, rubbing the walls, detailing the kitchens, his arms spread wide admiring the views through floor-to-ceiling windows. The lingering construction crews, putting the final cosmetic touches on the building, all greeted Mr. Reuveni with wide smiles beneath their battered hard hats.

In his buildings, everyone knows Mr. Reuveni. But in the broader world of New York City real estate, he has remained something of an enigma.

Despite his success, Mr. Reuveni is by and large a closed book, often appearing wary and vigilant to others in the industry. “He seems suspicious, like cautious and suspicious,” one broker said. “But I guess you have to be in this business. You never know who’s running behind you with a knife in their hand.”

Other brokers offered almost the exact refrain: I know of him but I don’t know him.

The Observer met Mr. Reuveni at an Upper West Side Italian place for lunch before our tour of the Laureate. When we arrived, he was already sitting at the bar waiting, checking email on his BlackBerry. Sharing his biography over a chicken paillard, Mr. Reuveni chose his words carefully, peering through his transition lenses without blinking for long periods of time as he spoke.

Originally from Tel Aviv, Mr. Reuveni immigrated to the U.S. at 15 and attended high school in Queens. In his youth, Mr. Reuveni was a vigorous athlete. “I used to do gymnastics in high school. I fenced as well. I was always very athletic,” he said.

And what of his love of karate?

“I normally don’t talk about that,” Mr. Reuveni said, almost imperceptibly caught off-guard, his discomfort belied by a sole blink. Mr. Reuveni momentarily forgot he had casually mentioned his passion for karate on an earlier occasion, and was surprised when asked about it anew. Instantly regaining his characteristic sang-froid, he began to explain his interest in the sport.

When he was 26, Mr. Reuveni sat mesmerized as a martial artist demonstrated a series of moves. “There’s a very high level of perfectionism with the sport,” he said “which I always liked. It was an outlet for me, both mental and physical, and I think it definitely did help me in my professional life. I think that discipline, that sense of order, that sense of purpose … the structure of how to get results,” he said.

Initially finding his stride in international relocations, Mr. Reuveni handpicked luxe lofts for globe-trotting executives, often working with large banks and law firms. He developed his understanding of nouveau riche corporate buyers, all the while spinning a web of connections among developers and brokers throughout the city.

Taking a job at Corcoran in 1995, Mr. Reuveni soon found himself working on new developments catering to the dot-com-era clientele. The newly monied classes had little interest in the aging Park Avenue progenitors of New York’s luxury real estate market, and were looking instead for gleaming new establishments to complement their gleaming new social standing. It was a new generation of buyers, less interested in a building’s pedigree than its amenities and family friendliness.

After 12 years at Corcoran, Mr. Reuveni was offered the helm of Brown Harris Stevens Select, a full-service marketing and sales division focusing entirely on new developments and conversions. Mr. Reuveni and his team help developers select sites for new buildings, work with architects to design layouts, select interior designers to outfit the luxury spaces, and aggressively market the properties—ultimately selling the condos to buyers flush with ambition, assets and that new-money smell.

Mr. Reuveni’s group is behind buzzy buildings like 15 Union Square West, Reade57 in Tribeca and the Merritt House on East 82nd Street. Mr. Reuveni’s star began to rise in 2008 with the completion of 15 USW, the former Tiffany’s building that has been reclad entirely in black metal and glass. Despite some initial hiccups, the project is now 82 percent sold out. Among its residents is Caroline Wozniacki, the No. 1 ranked women’s tennis player in the world, who took a pied-à-terre there. But it was the Laureate’s blow-out sales in a tough economic climate that solidified Mr. Reuveni as one of New York’s topmost brokers.

When asked about the perceived mystery of his persona, Mr. Reuveni seemed surprised. He preferred to describe himself as a perfectionist professional who works hard to keep his private life private. “I’m very businesslike,” Mr. Reuveni said. “I associate with many brokers, but I do keep my personal life separate from my business.”

But why the bifurcation in such a clubby profession? “I don’t know. Maybe I’ll talk to a psychologist, a psychiatrist, and they’ll tell me. It’s always been the way that I do business,” he explained. “I’m here as a professional, not necessarily to make friends.”

If Mr. Reuveni is mysterious, so are his buyers. Of those whose identities are known, the Laureate’s newest residents include financiers, horse-breeders, Southerners and cartoon creators. The Plaza had Eloise, the Laureate has Dora the Explorer.

Yet the vast majority have purchased anonymously, dropping millions of dollars through limited liability corporations hidden under reams of legal and financial documents. Although Mr. Reuveni categorically refuses to share any details about his buyers—he considers his discretion a hallmark of the firm—he frequently alludes to foreign investors when discussing the luxury real estate market, and it seems safe to assume that some out-of-towners are behind the recent sales. What does this seemingly disparate group have in common? Cash, and lots of it.

Mr. Reuveni constantly and seemingly unconsciously oscillates from the use of the first person singular to the first person plural when referring to his work at BHS Select. Although the group consists of brokers, a marketing team, a project team and an economist, it is clear that Mr. Reuveni has assumed an acute sense of responsibility for the division, seeing it in some ways as an extension of himself.

“I think that if we take on a project, if we take on a challenge, my relationship with developers, I think, I would like to think, goes beyond a business relationship,” Mr. Reuveni said. “You know if they call at 3:00 in the morning I’m going to pick up the phone. If there’s an issue, if there’s a problem, I’m the one who resolves it. So I’d like to think that every project that we take on, every challenge we take on, we give it 100 percent.”

Other top brokers in New York have taken notice of Mr. Reuveni’s methodology, particularly in light of the Laureate’s success. “I think at the really high end people are able to see through BS pretty quickly, and he doesn’t conduct himself that way,” said Raphael De Niro, the rising star at Prudential Douglas Elliman and son of the actor Robert De Niro.

“I think he’s really smart and hardworking and, you know, a straight shooter,” said Corcoran senior vice president Robby Browne, who deemed the Laureate “one of the truly great new buildings in New York.”

While never boasting about his accomplishments, Mr. Reuveni was comfortable discussing his strengths. “At the end of the day I can be a very good salesperson,” he said. Particularly priding himself on his ability to communicate effectively with both buyers and developers, Mr. Reuveni feels that he is able to bridge the gap between production and sale.

Issac Herra of BCRE, the development company behind 15 Union Square West, gushed about Mr. Reuveni in an email. “Shlomi brings to the table a rare combination of qualities which include professionalism, dedication and integrity. … The only thing that matters to Shlomi is what is in the best interest of the project.”

Some, however, find his intensity and unwavering focus on his projects off-putting. “He may be a tad bit overly aggressive,” one luxury broker suggested. The development market tends to foster a hawkish sales strategy, the broker said. “I think that in the new development there’s this hardcore sell, sell, sell, spin, spin, spin because they’re selling one can of beans and one can of beans only. I would find it highly boring.” The broker admitted that for what it’s worth, Mr. Reuveni seems to have mastered the art of selling his chosen variety of beans.

As for his clients, at least one who recently purchased a unit in one of Mr. Reuveni’s buildings felt that he was overbearing. “I think he’s a control freak,” the buyer said. “Too much of a control freak. It just was not a pleasant experience.” He claimed Mr. Reuveni gave preferential treatment to the buyers interested in the most expensive properties.

Aside from the visible pride with which Mr. Reuveni identified the minute details of the Laureate on our spirited tour, we saw him express genuine passion on one other occasion: in our discussion of martial arts, Mr. Reuveni revealed that for years he had taught adult classes, but had recently been forced to hang up his belt due to time constraints. What he missed, he said, was watching his students develop.

“What I really liked was the stage of starting with someone who may or may not know anything,” he remembered, “and just taking them through the stages and making them understand, you know, physically, mentally, psychologically how everything works and how to put it together.” It was witnessing his students “progress throughout the process” that made him the most proud.

It seems he may no longer need the competition of the dojo, however. These days, he exercises his disciplined approach to his profession, at the upper reaches of the city’s residential market.

eknutsen@observer.com

"Good busy!" they quickly qualify.

Well aware that these days are a far cry from the pre-Lehman boom times, The Observer thought foreign investments were buoying the market, and that everything was moving along nicely. Not so, it would seem. A new survey by direct-to-consumer title insurance company ENTITLE DIRECT claims that New York brokers have been quietly suffering over the past three years. When the company asked 200 brokers in the five borough about the effects of the recession on their business, the responses were surprisingly abysmal. Almost every broker, 92% of them, claimed to have lost money since the onset of the credit crisis, and a full 30% have taken on a second job to supplement their income.

And how about the future? Not so hot. "When asked about their outlook on the real estate market, 60% of New York City agents and brokers stated that things are only going to get worse, which is in stark contrast to the 6% that claimed we are in a market upswing," the survey states.

Even one broker claims the recession led to a divorce, but when you think about it, that's probably way better than average. Maybe things are better than we though after all.

eknutsen@observer.com

Speakers piped in a mix of pop-klezmer and Euro-trance just a little too loudly. Next to the Solo-branded matchbooks was a stack of white yarmulkes, also emblazoned with the Solo logo. A handful of tables were occupied by men wearing dark suits and their own yarmulkes and a few women in long dresses, no doubt machers all.

And in the corner sat Mr. Bracha, a BlackBerry and a smart phone resting beside his knife and fork. He joked that he had chosen his offices, for the first New York branch of Keller Williams Realty, in the Trump Tower across the street, just so he could be closer to Solo, his favorite restaurant.

Mr. Bracha, soft-spoken yet built like a linebacker, wore a black wool vest over a tailored white shirt, his navy pinstriped suit jacket hanging off his chair. It was a marked contrast to his slightly disheveled frum neighbors. Mr. Bracha, once avowedly secular like many of his countrymen, said he meditates and prays, and as for keeping kosher, he stretched out his hand and swept it upward over the white-linen table.

Only moments after The Observer took a seat, one of the Orthodox men in the restaurant came over to declare, "This is the best guy in America, maybe even Israel!"

Mr. Bracha was for almost seven years a top-selling agent at the city's largest residential real estate brokerage, Prudential Douglas Elliman, while also financing hundreds of projects annually with his B&B Investment Group, even building some of his own. Last month, however, he left Douglas Elliman to open that Keller Williams office, bringing the nation's third-largest real estate franchise into New York City, where home-hunting is blood sport.

"It's not about the company, it's about the people, and Keller Williams attracts the best people, and that will be true in New York, too," Mr. Bracha said. Because the franchises take a smaller commission than the competition, brokers are more eager to join, he explained.

Mr. Bracha got his start in New York real estate as a mover. After his tour in the Israeli Defense Forces, where he led 120 troops, he took his discharge to New York and decided he never wanted to leave. He tended bar nights (a mover and a shaker!), shlepped days and partied in between. One day in 1997, Mr. Bracha was moving Lewis Kaye of LBKaye International, a commercial brokerage, when Mr. Kaye told him he had such a magnetic personality that he should go into real estate. "I took the moving van back and immediately went out and got my license," he said, in the sort of soft yet powerful voice that induces people to listen intently.

Mr. Bracha spent a year working for another broker before joining LBKaye. Five years later, in 2004, he met Dottie Herman, the CEO of Douglas Elliman. Within a year, he became one of the firm's most proficient-and profitable-brokers. In 2006, he launched B&B International with Haim Binstock, a New Jersey investor he had done some work for. During the height of the boom last decade, he was financing almost a deal a day while his team at Douglas Elliman was selling dozens of apartments daily. His team's record was 114 units in two days.

Then came the crash. Being both a broker and a developer only compounded his problems. Mr. Bracha recalls being taken aside in June of 2009 and told his team was in 69th place at Douglas Elliman. "I was doing so many deals with B&B, I began to neglect the team. I went back to the streets, I started selling. I did 200 deals in two months, and by the end of the year, I was back on top."

All this made him fall back in love with brokering, and led to Keller Williams. He made a promise over lunch: His agency will be the biggest brokerage in New York within five years.

At the end of the meal, there was a small issue with the bill. The maître'd at his favorite restaurant could not find his account, so Mr. Bracha brandished his black AmEx before it was realized the account was under the B&B name. Out in the lobby, The Observer remarked on what a wonderful building the Sony was. "You know Philip Johnson?" Bracha said. "You know I sold his last project, 5 East 44th Street."

Of course he had.

mchaban [at] observer.com | @mc_nyo

• Bruce Ratner

In 2001, Bruce Ratner and the New York Times were maneuvering to buy a plot of land on Eighth Avenue and 41st Street to develop the Times' Renzo Piano-designed headquarters. Barnett, who owned a parking lot on the site, tried to organize surrounding landowners. "I said, ‘Let's all join together and we'll be in control of the site, and if the New York Times really wants it, they'll pay us more,' " he told me.

[...]

Owing to their prior battle over The New York Times headquarters, the real-estate press jumped on the feud [for Atlantic Yards], portraying Barnett and Ratner as bitter rivals once again at war over prized development rights. Advisers in the Ratner camp certainly viewed it that way. "It was an effort to throw a wrench into the process, given what happened earlier," one person close to the process told me. Barnett downplayed the whole matter when I brought it up. He told me he's never met Ratner and insisted his bid was strictly about business.

• Kenneth Kahn

"He was trying to get the city to almost pay for [The International Gem Tower]," Kahn says. Tensions between Kahn and Barnett were ratcheted up after Barnett poached Kahn's tenants. "He's making them real-estate deals they can't refuse!" Barnett, not surprisingly, believes it's all fair play. A few months ago, he even approached Kahn about buying 580 Fifth Avenue and converting it into a hotel and condo, but Kahn turned down the offer.

• Donald Trump

On the morning the [Riverside South] deal was announced, in June 2005, Donald Trump was in his office overlooking Fifth Avenue when one of Cheng's representatives walked in and informed him that they had sold to Barnett. Trump went ballistic. "What development? Our development?" he snapped. He believed the Chinese had gotten far too little for such a prized Manhattan development site. "I've always felt it was under­valued," Trump told me recently. [...] "This guy is a total gross incompetent, he's an arrogant fool."

[But he love him, too:] "A lot of guys, I call them the Rendering Boys. They come in with renderings. They're always showing renderings but never get them built. He gets them built."

• Brokers

Some brokers who deal with Extell bristle at Barnett's hard-knuckle tactics. "He's tough as nails," says Upper East Side broker Larry Kaiser. "The brokerage community, whether you like it or not, can make you or break you. His relationship with the brokerage is controversial."

• Everybody

New York real estate has long attracted players who view business as both a commercial and a civic pursuit. Jerry Speyer, the co-CEO of Tishman Speyer, is perhaps the most famous archetype of the New York ­macher, serving as a confidant to mayors and governors. Inside the fishbowl of New York real estate, Barnett has few friends. He's a subject of fascination and derision, a combative figure who is unafraid to challenge the industry order.

[...]

[I]n an act of either extreme confidence or epic folly (or both), Extell recently started construction on a project called Carnegie 57, a 1,000-foot-tall, $1.3 billion condo and hotel designed by Christian de Portzamparc and backed by the investment arm of the Abu Dhabi royal family. When completed in 2013, Carnegie 57 will top Trump's U.N. Plaza tower for bragging rights as the city's tallest residential building. "There's a resentment that he's able to still build and doesn't give the appearance that he's affected by this market," says Stuart Saft, a partner at Dewey & LeBoeuf.

The resentment is tempered by the fact that many of his peers expect him to fail. "You have to bet that the peak will be higher than it's ever been," one incredulous real-estate banker said. "It's a huge bet."

mchaban [at] observer.com / @mc_nyo

In exchange for bribes from day traders, Casbarro let them listen to orders from Citigroup clients. Those traders would then buy or sell ahead of big price moves generated by big institutional investors who were trading through Citi. Casbarro copped to charges in 2005. "I know what I did was wrong without a shadow of a doubt and I'm sorry for it," he said upon sentencing. The SEC has also banned him from associating with any brokers or dealers going forward.

Why the wrist-slap?

"He has extensively cooperated with the government," Casbarro's lawyer said at the hearing. On Wall Street, snitching has its perks.

Location: As of today, you have nearly 10 listings under $1 million, but none over $10 million.

Ms. Teplitzky: When we realized the market was going, we basically made a switch. The market started to be active in the under–$1 million range. … What we did is we made a conscious decision that we have to go where the market is. So we started to deal with buyers and sellers that were under $1 million, and basically increase volume.

Have you made as much money selling cheaper apartments?

Yes. But I’ll tell you one thing: We had to work literally 24/7. My team is exhausted. They’re all complaining. They’re overworked. And I completely agree with them, and I tell them there is no other way, unfortunately. Because in order to make the same amount of money that we were making the last two years, we basically had to double and triple the amount of apartments we were selling.

Did you set out to be a titan of the middle of the road? Are you happy dealing with real estate that’s less glamorous?

Thank God. We survived!

'I see right now a much more stable market,' you said in 2007. 'A crazy market is much more dangerous.' Why didn’t brokers foresee luxury real estate’s downfall?

Because I think in New York we are very spoiled. In New York we always say, ‘If something happens to the market, it’s not going to affect the luxury market, because those always people have money,’ that’s what we used to think. ‘Park Avenue people always have money, no matter what.’ Well, the world has changed. Also, what we didn’t take into consideration was: Who were the people in 2007 buying the lofts in Tribeca, or buying the new construction? They were not our parents’ age, they were basically our age! They were the new generation. Our parents were much more cautious. We spent more money; we traveled more; we spoiled our kids more; and we didn’t save. We were not as conservative as the previous generation. And that generation got caught with their pants down. It’s like, ‘O.K., what do we do now?’

Your biography on Elliman’s Web site begins with: 'How do you spell LEGEND? Well, if you’re in real estate, it’s spelled J.A.C.K.Y.' Why so much self-promotion?

When I started in real estate, nobody wanted to hire me. The company I presently work for didn’t even return my phone calls. The reason was, ‘Who do you know? Who are you? You are a nameless person; you didn’t go to college here; you don’t have any sphere of influence. Who are you going to sell apartments to?’ So it was very clear to me from the start that I had to work on two things—one was my skills, my professional skills, and one was to get my name out there. Because in New York, your name, your brand, works, you know? Trump works. Corcoran, Barbara Corcoran, works. That’s how we work in New York. New York is about labels. I buy Ralph Lauren. That’s what New Yorkers are about.

Right.

It was all about money. … I consciously wanted to create a brand, because I need to make money to provide for our family. My husband and I work both in real estate. We don’t have any additional income. So this is it. Also, we support my family in Chile. I have other responsibilities that most people do not have.

You were raised there before your family moved to Israel, where you were a drill sergeant. What did your parents do?

He basically was going to the outskirts of Santiago, buying cheese and sausages, but wholesale, and coming to Santiago and selling them to supermarkets and bodegas. My mother actually also worked, in a smaller scale, as a merchant. She was doing marmalade, but instead of big stores, she would go to people’s houses.

We’re eating her mora-berry marmalade right now. It’s excellent. Did you learn your salesmanship from your parents?

I think my father was a very good salesman but a very bad businessman. He was great in talking, and everybody continues loving him, but he made so many mistakes in his business life that it basically brought him down and down and down and down. … When we arrived in Israel, none of us spoke any Hebrew, and my father didn’t really have a profession.

In February 2008, Dolly Lenz, the massive mega-broker whom Dennis Kozlowski dubbed 'Jaws,' was named the top individual broker at Elliman, and you won the top group award. You were openly upset about not being named the top overall broker, even hinting you might quit. What happened?

They suddenly changed the rules. I’m all about ethics, and I’m all about being straightforward, honest, cards on the table. If you tell me the game is played one way, I play the game. If you change the rules in the middle of the game, then I really get very, very upset. Until that day, there were no ‘groups’ and ‘individual’ winners.

Are you sure?

I am positive. I kept—I’m very competitive, and I have a folder, and since I joined Elliman, which is 2003—every award ceremony [program]. Prior to that day, you had the top 10, period. Now, Prudential nationwide always did teams and individuals, but Prudential Douglas Elliman? Never. So that year, O.K., what happened was my numbers were higher, and suddenly a Pandora’s box was opened. I went in, this was my statement: I said, ‘Whatever you do, I am just telling you, the numbers are very clear. I am not settling for No. 2.’

You told that to Elliman’s co-owners, Dottie Herman and Howard Lorber?

All of the above! So the way they resolved it was to give two No. 1's—to the teams, and to the individuals. … Every single person at the awards ceremony sitting down, every single person in the 1,500, knew the truth.

At the time, Ms. Lenz said, 'Jackie Teplitzky is not even in the same category.' Have you spoken since?

She really didn’t know me at a personal level, and I’m going to tell you, something very funny happened. For one of the conventions, I went in to do my hair at the hairdresser, and there was nobody else but her and me. Las Vegas—the Prudential nationwide convention.

What happened?

The hairdressers thought—because I said, ‘Hi, Dolly, how are you?’—that we knew each other, so they put us side by side. When you sit down and you’re doing your hair, you have nothing to do. So you start talking! And we actually decided we have a lot of things in common. She comes from a Spanish family, you know?

Yes, her real name is Idaliz.

And I am from Chile. And she has two children, I have two children—her kids are older than mine. And we talked about nothing to do with real estate. We had just an incredible, beautiful conversation.

Her protégé-turned-enemy Michael Shvo left Elliman soon after a similar awards-ceremony kerfuffle. Why are they so important to brokers?

Well, look, it’s recognition for your hard work.

Would you want your two sons to go into real estate?

That’s a tough one. On the one hand, I would say yes because I want continuity and I want the name, the Jacky Teplitzky team, to go on. But on the other hand, I respect their wishes.

Your husband, Max Dobens, is on your team, just like he was when you worked at Corcoran—he joined after he was laid off. What’s that been like? Does he mind the power dynamics?

He does! You have to interview him for that. Look, it’s not easy because we try very hard to institute the rule of when we cross that entry door to this apartment, we do not talk about business. … You know, it’s a lot of friction. It’s very difficult to work with your husband, especially because I’m the head of the team. He’s definitely the top producer in the team, but it’s a difficult thing.

Second to you?

Yes.

mabelson@observer.com

But a sex offender?

Newsday reported this week: "Sex offenders with misdemeanor convictions can get real estate licenses." (Convicted felons cannot.)

The pervy-friendly blog Sex Offenders Issues responded to the proposed legislation with outrage:

Not to sound like a rapist-apologist (nobody wants a spare-key-equipped sex offender roaming around their homes) but why is the government strictly targeting the pervs?

By the same logic, aren't there scores of other shady characters to be wary of key sharing?

An I.D. thief could do tremendous damage with a spare set. Ditto for a drug addict. Imagine: After blowing his entire 15-percent commission up his nose, a junkie broker could come back to pawn your laptop. Or worse--steal your own stash!

Should brokers undergo full F.B.I. background checks (as security guards do)? Random drug tests?

There are 33 deals to choose from for this year's award, according to today's press release from REBNY. Oddly, the heavy hitters are missing from the list of nominations! Where’s record-setter Paula? Where’s Rolls Royce Sharon? Where’s Ferrari Roger? Where’s omnipotent Dolly?

Here's the answer: Brokers essentially have to nominate themselves, and of course monumental Manhattan agents are way too chic and unruffled to self-nominate.

Nevertheless, there are some big names here, especially Wendy Maitland (Madonna’s broker, don’t forget) and Armin Allen of the classy boutique Edward Lee Cave. Winners are announced later this month, and the full nominees are below.

Dean R. Feldman and Edith K. Meyer, Halstead

Anne Shalmoon, Halstead and Keith Vitali, C21-NY Metro

Alan Pfeifer, Halstead and Kim Robilotti, Janet Robilotti & Associates

Emily Fuller Kingston and Suzette Meshulam, Halstead

Linda VanderWoude, Halstead Brooklyn

Madeline Dale, Halstead

Barbara Evans-Butler, Stribling and Brian Manning, Brown Harris Stevens

Jeffery Brown and June Gottlieb, Warburg Realty Partnership, Ltd.

Binnie Robinson, The Developers Group

Dorothy Arnsten, Ileen Schoenfeld, and Lisa K. Lippman, Brown Harris Stevens

Jeannette Bernstein, Joy Kimmelman, and Randy Blackmon, Brown Harris Stevens

Kyle W. Blackmon, Brown Harris Stevens and Zeckendorf Marketing

Jim Brawders and Deb Kavaler, Corcoran Sunshine and Wendy Maitland, Brown Harris Stevens

Laura Gruber and Joan Gruen, Corcoran

Rose Ann Nielsen and Chris Benfante, Corcoran

Timothy Scott, Corcoran and Lynn Howard, Elliman

Tim Cass, Corcoran

Dorothy Greiner, Corcoran and Gordon Stanton, Brown Harris Stevens

Judith Drogin-Feldman, Corcoran, Marta B. Salonika, Halstead

David Dubin and Bill Kowalczuk, Corcoran

Atouossa Haskin and Yael Nazmiyal, Elliman

Corinne Pulitzer and Heide Mamouris, Elliman and C.B. Whyte, Stribling

Robin Hudis, Tristan H. Harper, Elliman and Beth Ferrante, Corcoran

Richard Balzano, Elliman and Lisa Martin, DJK Residential

David Rosenberger, Elliman

Clarie Ratusch, Elliman and Armin Allen and Eliz Savage, Edward Lee Cave

Samnatha Lally, Michelle Churchill, Elliman

Penny Pear, Elliman

Jane E. Goldberg, Elliman and Fritzi Kallop, Brown Harris Stevens

Diane Johnson, Scott Allison, and Abigal Agranat, Elliman