Manhattan-based Klickads Inc., doing business as BrokersNYC, is suing the Real Estate Board of New York on antitrust allegations. The suit alleges defendants engaged in illegal tying and monopolization of the market for exclusive property listings in Manhattan.
The complaint, filed in the Southern District Court of New York, names the Real Estate Board of New York and its board members, among other defendants.
The Real Estate Board of New York is a real estate trade association representing commercial and residential property owners, builders, brokers and managers, banks, architects and other institutions interested in New York City real estate. REBNY provides a channel for New Yorkers to find real estate brokers.
Steven Spinola, president of REBNY said the lawsuit is “frivolous and without merit.”
“The REBNY Listing Service is designed to help make it easier for New Yorkers to find a place to live by tapping into REBNY’s pool of professional, experienced and highly qualified brokers,” he said.
BrokersNYC is an Internet-enabled marketing and multiple listing service serving New York.
The suit alleges REBNY limits BrokersNYC’s ability to provide competitive services to consumers, by restricting the company’s ability to access REBNY member exclusive listings information and by restricting the distribution of this information to its own REBNY members.
BrokersNYC CEO LaLa Wang claims that defendants “assert their influence to impede the development of new kinds of products and services so they can keep costs high.”
The complaint was filed in federal court Wednesday.
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