Posted by Leonard Steinberg on June 22nd, 2014 Summer has arrived and the market is much hotter than the incredible temperatures we are experiencing in New York the past few days. In a hot real estate market, a breed of broker emerges that is as amusing as it is annoying: the BOILER ROOM REAL ESTATE BROKER. This is the real estate broker somewhat similar to the testosterone-overloaded goons depicted in the WOLF OF WALL STREET. In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It typically refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. The term is often used to imply high-pressure sales tactics and, sometimes, poor working conditions. We all know who these BOILER ROOM BROKERS are: they emerge from snazzy, shiny cars, dressed in swell get-ups with 2 phones in hand. They tout their achievements relentlessly, often spewing untruths that in this world become fact if repeated often enough. They are often followed by a camera, or hold there own camera to their lives relentlessly, certain that the world is fascinated by their every move……fortunately for them there are enough lonely souls out there who show interest and become their fan club. Many of their peers fear them: power and over-confidence can be intimidating after all. And who doesn’t want to get invited to the party? But fear not, these Boiler Room Brokers will either fizzle or clean up: a city as intelligent as New York is has limited patience for fake, dishonest business practices….ultimately transparency will prevail.