BrokersNYC prevails in antitrust conspiracy claims

Today we 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.

For background on Klickads v. REBNY case, click here.

Inman article Manhattan real estate antitrust lawsuit proceeds, click here

Real Deal article BrokersNYC suit against REBNY progresses click here.

6 Responses to “BrokersNYC prevails in antitrust conspiracy claims”


  1. [...] 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 [...]

  2. on 23 Aug 2007 at 12:11 pm Anthony Longo

    Lala - congrats on the progress you are making with this very VALID and necessary point. Keep driving it home…it needs to happen. You always have our support! Congratulations again and keep us posted.

  3. on 23 Aug 2007 at 2:40 pm Anonymous

    This is just the first in what will hopefully be many victories against the conspiracy now in place among the big NYC brokers. It was especially encouraging that Judge Sand did not take the easy way out and dismiss the conspiracy claims in the wake of the Supreme COurt’s ruling in Leegin.
    Once BrokersNYC wins its case, this will pave the way for sellers of NYC real estate to go after the big game: the 6% commission.

  4. on 24 Aug 2007 at 9:23 am Peter

    It’s clear that the interests of consumers and the interests of large brokerages are not aligned. Let’s hope that the consumer’s interests are respected here and we get a decision that is pro-competition and pro-market efficiency.

  5. on 28 Aug 2007 at 6:22 pm David Barry

    This is good news for all those who want to see competition and choice in real estate. BrokersNYC and Lala Wang have long supported the wide flow of real estate information for the benefit of consumers and agents.

  6. on 29 Aug 2007 at 2:40 pm Tai

    Thanks Lala for your very courageous and determined stand for what’s right
    in the marketplace. It means a lot to all of us who are in business.

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(0)Lessons We Learned From LaLa, Part I

What follows will be a series of lessons we learned from LaLa on our quest for a condo.  As lessons are added, the narrative will appear to build in reverse order.  I hope readers who find this later will scroll down to beginning.

 

Lesson 1:  I didn’t know I needed an agent.

I figured all the information I needed was on the Internet and I would just click away.  Silly me.  My search began innocently enough.  My daughter has been throwing money out the window at nearly $1600 a month for a nice enough studio on the UES.  Her lease was up in a few months, and the stars seemed to be aligning in the real estate market.  To address the economic correction, prices were falling from their nonsensical highs, mortgage rates were attractively low, and there was an unusual accumulation of inventory.  A recently converted condo was only a block away from my daughter’s current location.  We could move her in on a dolly. 

 

So began our quest.  Three units in that building were available from the sponsor.  With Google Earth I was nearly able to peer through the windows, then realized why these were still unsold.  A unit on the second floor had a façade that shrunk the windows.  A higher unit was over the entrance to the parking garage, and the soot stained façade bode poorly for fresh air.  Nonetheless, I made an appointment with the sponsor to take a look.

There was one resale in the building, but I couldn’t get any useful details from the Internet.  Stymied, I left my contact information on a site that offered access to a listing for this unit.    Within an hour, LaLa Wang was calling me.

It was so soon after I had made an appointment with the sponsor, I thought it was someone else from that office.  Nope; it was LaLa, eager to part the Nile on my trek to the Promised Land. 

 

We discussed the motivation for my search, and my parameters.  These were based on my initial point of reference, the price and location of the condo up the street.  My daughter wants to stay on the UES.  The prospect of moving more that a few blocks evoked:  “But the people in the bagel store know me!”  I reassured her there was a bagel store every 4 blocks, like every other essential business that repeats throughout the city.

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