BrokersNYC prevails in antitrust conspiracy claims
By Anthony Longo 23 08 2007
LaLa Wang – a New York City Real Estate broker stripped of her license years ago, still battles the uphill endevor of a more transparent New York Real Estate Marketplace.
Today LaLa received Judge Leonard Sand’s opinion denying the trade association, Real Estate Board of New York’s (REBNY) motion to dismiss Klickads dba BrokersNYC’s antitrust claims. Because the monopoly claims included more than one entity, Sand granted dismissal on charges concerning monopolization. The case will now be set for a jury trial. Continue…
If you are not familar with these ongoing actions & history read below…
Klickads, which does business as BrokersNYC, filed an antitrust suit against the Real Estate Board of New York (REBNY), a trade association that represents the largest players in the New York City real estate market. By restricting members’ residential listings for distribution only through its own computer system and boycotting other integrators, REBNY seeks to monopolize information and, therefore, keep broker commission standardized.
Brokers need access to REBNY’s listings in order to compete in the Manhattan real estate market, but they should be able to choose which system they use to access that information. As in any other market, choice empowers consumers; competitive listing services such as BrokersNYC would help New Yorkers comparison-shop for apartments or brokers and save tens of thousands of dollars.
REBNY’s attempt to control the way brokers and their customers access listings is similar to the National Association of Realtors’ “opt-out�? policy that prompted a recent civil antitrust filing by the U.S. Department of Justice. For further history click here.
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