REBNY’s Committee on Ethics and Professional Practices found Alexander guilty of deliberately interfering with Fox Residential Group President Barbara Fox’s broker-client relationships and interactions in a 2021 transaction at an Upper East Side condo.
New markets require new approaches and tactics. More than 250 experts and industry leaders will take the stage at Inman Connect New York in January to help you navigate the market shift — and prepare for success in 2023. Register today and get a special offer $1099 ticket price.
Tal Alexander, co-founder of The Alexander Team and partner at OFFICIAL, has been censured by the Real Estate Board of New York (REBNY) following an ethics complaint that the luxury broker interfered with another broker’s sales at Icon Realty Management’s Beckford Tower on the Upper East Side, The Real Deal reported on Friday.
On October 25, REBNY’s Committee on Ethics and Professional Practices found Alexander guilty of deliberately interfering with Fox Residential Group President Barbara Fox’s broker-client relationships and interactions in a 2021 transaction at the condo building that had taken place six months prior.
A complaint filed by Fox Residential Group said Alexander took advantage of his position as Beckford Tower’s ambassador to both interfere with Fox’s exclusive agency agreement with clients and gain an unfair advantage over her, decision documents The Real Deal obtained state. At the time, Alexander was affiliated with Douglas Elliman. Today his team is affiliated with Side.
Alexander claimed that he had started serving as a dual agent for Icon Realty Management and the buyers before submitting a bid on the buyers’ behalf, but was unable to provide any proof to support those claims. Fox, on the other hand, did provide email and text documentation to support her complaint.
In total, Alexander was accused of four code of conduct violations, but was acquitted of the other three.
Alexander also claimed he had come to an “agreement with Fox Residential,” The Real Deal said, but that the company “decided to pursue this issue with REBNY.”
“As we all know, this is a very competitive industry,” Alexander added. “I maintain a great relationship with the client and the sponsor, who is very pleased that we sold out the entire building.”
In a similar statement sent to Inman, Alexander added that he believed how the situation unfolded after trying first to deal with it directly with Fox Residential was “unfortunate,” but that ultimately, with REBNY’s decision, “there are no penalties here.”
REBNY declined to comment on the matter to The Real Deal.
Fox told The Real Deal that unethical broker behavior “needs to be stopped.”
The censure by REBNY largely serves as a warning for now, as there are no penalties associated with the verdict. However, if Alexander accrues a second violation, he could lose his REBNY membership, a source told The Real Deal, which would also result in him losing access to REBNY’s Residential Listing Service.
Alexander and his brother, Oren Alexander, left Douglas Elliman about one week after the complaint was filed to form their brokerage, OFFICIAL, powered by Side. In 2021, The Alexander Team closed more than $1.7 billion in sales volume, according to their website.
This story was updated after publishing with additional comments from Tal Alexander.