Instanet, Florida Realtors split spawns lawsuit

Dispute centers on transaction management software

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A decision by Florida’s state Realtor association to develop its own transaction management software and cancel a contract with a vendor that had been providing those services to its members for nearly a decade has triggered claims and counterclaims by both parties in U.S. District Court.

The vendor, Concepts In Data Management U.S. Inc. — better known to its customers as Instanet Solutions — alleges that a subsidiary of Florida Realtors Inc. utilized confidential information including software code to reverse engineer CDM’s Web-based transaction management services, TransactionDesk and Forms Online Gold.