Yesterday our local flat fee competitor CondoDomain publicized they were being sued by Kevin Ahern of Otis & Ahern fame. CondoDomain founder Tony Longo reassured all CondoDomain partners, clients, shareholders and new prospective clients that CondoDomain has done nothing wrong or illegal.

In his blog post Longo reaches out asking for the help of anyone who supports “choice” and the dismantling of the longstanding monopoly of “full-commission” anti-competitive real estate businesses but after reading the filing it appears Ahern’s complaint is not directed at CondoDomain’s discount brokerage model. The complaint outlines Longo’s failure to comply with the terms of his LLC agreement. An LLC that Ahern is a shareholding member of.

Ahern was an investor in CondoDomain’s original concept, that of an online real estate publication, but he based his investment on two requirements. 1) That CondoDomain restrict its business activity to the stated purpose of an online real estate publication who’s revenues would be generated through advertising, and 2) that CondoDomain would not compete with Mr. Ahern’s business of residential real estate brokerage. Ahern believes that neither of these requirements are currently being satisfied.

If you have worked with or are actively working with CondoDomain you should consult consult your attorney immediately. I would want to know whether the rebates that CondoDomain has issued could be seized and awarded to the plaintiff as damages.

Read Longo’s full blog post here.

We haven’t made any new posts lately because we have been hard at work on something new and very exciting. Territory 2.0 is coming and you don’t want to miss it. Stay tuned…