Amid the evolving arms race for inventory, and policy disputes focused on listing access, Compass today launched what it is calling a website “redesign,” bringing a huge amount of “Coming Soon” listings from all its brands together in one place. Dubbed “See It First,” the mega-brokerage is pitching the new format as a way to…
Last night’s ruling in Zillow’s lawsuit against Chicago-based MLS MRED and mega-brokerage Compass represented a significant legal setback for the portal, even as the larger fight over policy and market power plays out on multiple fronts. A source close to MRED told RISMedia shortly after the court ruling that the MLS is prepared to enforce…
Around 16 months after it was filed, Compass announced today that it has reached an agreement to resolve its antitrust lawsuit against Washington-based Northwest Multiple Listing Service (NWMLS), ending what had been a high-stakes and sharply contested dispute that cut to the heart of the larger private listing debate. In a statement, Compass CEO Robert…
The private listing debate quickly got messy within the industry. Real estate rivals suddenly couldn’t agree even on the definition of “private,” and the disputes have often become technical and insular—seller choice versus transparency, monopolies and conspiracies, the Wall Street boogeyman and the out-of-touch incumbents. But as brokerage and MLS leaders updated policies and focused…
Democratic firebrand Elizabeth Warren is joining a handful of other lawmakers in calling out Compass and MRED for their private-listing centered partnership, penning a letter with accusations that their practices could “perpetuate” discrimination and make housing harder to access. First reported by Realtor.com®, the letter is the second time in about two weeks that federal…
Tennessee-based MLS Realtracs, two months after threatening to join Chicago-based MRED in cutting Zillow off from its listing feed, has entered into a new licensing agreement with the portal, which “ensures uninterrupted listing distribution” while ensuring Realtracs members continue to have access to Zillow tools. In a statement, Realtracs President and CEO Stuart White said…
The battle over private listings is playing out nearly everywhere—from statehouses and courthouses to brokerage offices and Wall Street boardrooms. As opponents and supporters of the practice make their cases, the debate looks vastly different depending on the venue. But one tool that is nearly always effective is data. And as the practice draws more…
Bright MLS, covering a huge swath of territory across the Mid-Atlantic coast region, is currently the largest multiple listing service in the country. Being the largest often means that the decisions it makes will set the bar for smaller players—particularly in a time of rapid change and uncertainty. This week, Bright announced significant updates to…
Above: the Everett McKinley Dirksen United States Courthouse in Chicago. CHICAGO—Zillow Chief Financial Officer Jeremy Hofmann testified Wednesday afternoon that a permanent loss of Midwest Real Estate Data (MRED)’s listing feed could trigger what he called a “downward spiral” for Zillow’s business, as testimony continued in the preliminary injunction hearing between Zillow, MRED and Compass.…
Above, Jessica Edgerton (courtesy of CMLS) Amid a fundamental reorganizing of the MLS space, the Council of Multiple Listing Services (CMLS) announced that Jessica Edgerton, a lawyer who previously served in high-profile leadership roles at Leading Real Estate Companies of the World® (LeadingRE) and as a lawyer for the National Association of Realtors® (NAR) will…
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