The complaint alleges that REBNY pursued "a broad course of predatory conduct" over a period of years by promulgating a series of restrictive policies that affected BrokersNYC's revenue. In particular,the suit involves REBNY's exclusive listings, which are contingent upon its members purchasing its database services called Rolex and RealPlus. The suit contends REBNY has sought to block BrokersNYC from being able to provide competitive services to its customers.

"We believe the lawsuit is frivolous and without merit, and have instructed our counsel to vigorously defend the Real Estate Board and its members," says REBNY president Steven Spinola. "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."

"We believe in a cooperative and open New York Real Estate market for both agents and consumers," says LaLa Wang, founder and CEO of BrokersNYC. "We hope that this suit will promote new business paradigms to ultimately give consumers more cost-effective choices in finding their home."