The American division of the famed Swiss watch company Rolex claims that data technology firm RealPlus is infringing on its trademark by using the name R.O.L.E.X. for its residential property listing system, a new lawsuit filed in U.S. District Court in Manhattan says.

The R.O.L.E.X. technology, an abbreviation of RealPlus Online Listings Exchange, is used by the Real Estate Board of New York as the backbone of its multiple listing service known as NY1Residential.

Midtown-based Rolex Watch U.S.A. claims RealPlus and its managing director Eric Gordon are infringing on the timepiece maker’s trademark, the suit, filed Tuesday, says.

“[RealPlus] use of this confusing and identical mark is likely to bring to mind [Rolex's] famous Rolex trademark… and dilute the distinctiveness of the Rolex trademark,” the complaint says. [more]

From the November issue: In the late 1990s and early 2000s, the Internet was like an up-and-coming neighborhood — early investors who recognized its potential snapped up property at bargain prices. Now, the value of their investments has increased exponentially.

Donna Olshan, president of Olshan Realty in Manhattan, was one of these investors. After reading “Being Digital” by Nicholas Negroponte in 1995, she began to realize the potential of the World Wide Web and started buying unused domain names, or, as she calls it, “Internet real estate.”

“I became convinced that the Internet was going to change the way people bought and sold real estate,” Olshan said. She bought gems like Townhouse.com, NY RealEstate.com, Coops.com and many others, for $75 each.
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The Real Estate Board of New York’s choice of developer for its nascent property listings transmission system, Stratus Data Systems, is relying on proprietary information from the existing R.O.L.E.X. system to build the new technology, according to the creator of the current technology, whose proposal for a new system was rejected.

Eric Gordon, managing director of RealPlus and creator of the real estate listings platform R.O.L.E.X., said REBNY had asked him to hand over the proprietary information as Stratus begins implementing the replacement platform.

“They weren’t going to reinvent the wheel,” Gordon said of Stratus. “They were expecting to use our wheel so it wouldn’t cost them anything to build that wheel.” [more]

Warburg broker and REBNY technology chair Steven Goldschmidt

The Real Estate Board of New York is updating the technology behind its residential listing service, Crain’s reported, and switching to Stratus Data Systems from RealPlus Online Listings Exchange. The new service, which is compatible with applications and software that allow more programs to access information from the listing service, will be implemented in January, but the switch won’t be complete for a year.

“We needed a system that could keep up with the times,” said Steven Goldschmidt, a broker at Warburg Realty and chair of REBNY’s technology committee. “We are going from a 1995 Audi to a 2013 Lexus.” [more]

Leigh Zaph is planning on registering his three-person firm, Manhattan Homes, as a Virtual Office Web site.

From the December issue:
A new breed of online brokerage is springing up in New York, altering
the landscape of real estate sales in Manhattan and worrying
traditional firms, who fear the changes may hurt their business. In the past, New York firms have contended with Web aggregators
like StreetEasy and Trulia, which gather and post information on local
brokerage listings. But thanks to a recent settlement between the federal Department of
Justice and the National Association of Realtors, the Real Estate Board
of New York is now sharing all of its members’ listings directly with
online brokerages, known as “Virtual Office Web sites.” These VOWs, as they are called, allow consumers to view those listings — including those from other firms — online. Experts say the change will have far-reaching consequences for the
industry in the coming year and beyond. Some believe VOWs could also
pave the way for a comprehensive Multiple Listing Service, which has
long been resisted here.  More

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