BrokersNYC prevails in antitrust conspiracy claims
Posted by LaLa on 08 Aug 2007 | Tagged as: Blog, New York Lawsuits, The Industry
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.
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[...] 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 [...]
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.
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.
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.
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.
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.