Just two months after the Federal Trade Commission (FTC) settled its lawsuit with Zillow and Redfin over the two portals’ alleged anti-competitive agreement, two U.S. Senators have issued a new letter petitioning the organization to take aim at alleged anti-competitive practices on the home-buying side of portals. Senators Elizabeth Warren and Cory Booker penned the…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Better drops challenge against Vishal Garg The Better Home & Finance Holding Company (commonly known as Better) announced in an Oct. 5 press release that their Special Committee withdrew its challenge to the…
Zillow and Compass are making headlines once again, potentially facing further complications due to a new letter signed by a coalition of leading consumer groups to the National Association of Attorneys General, calling for an investigation into the two company’s practices. The letter—penned by 19 consumer groups, including the Consumer Federation of America, the American…
A major ruling in the antitrust battle between Zillow and Midwest Real Estate Data (MRED) came down Tuesday night when Judge John Tharp in the Northern District of Illinois denied Zillow’s motion for a preliminary injunction, effectively making way for MRED to cut Zillow off from its feed and lifting a temporary restraining order that…
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What is a “private” listing? Short answer, not everyone agrees. Cooperation—that is, brokers sharing their listings with all other real estate professionals in order to facilitate a sale—has long been the default practice in residential real estate. The National Association of Realtors® (NAR) traces the first precursor to a “multiple listing service,” or MLS, back…
You’ve spent your career at the intersection of real estate and technology. Tell us about your role at Zillow and what you’re most focused on right now. My role at Zillow is about making sure the industry serves consumers. I help lead our industry relations and partner education efforts, and a big part of that…
New York looks likely to become the latest state to create restrictions on private listings. On June 1, the New York State Senate passed the Fair and Transparent Real Estate Listings Act, after amending the bill to include an opt-out option for sellers. The act’s intention is to prevent properties from only being available on…
Real estate’s Multiple Listing Service (MLS) was built on a century of shared data and mutual trust among brokers. Now, a panel of industry executives says that trust between agents and consumers is fraying as more properties get pulled into private listing networks. And, increasingly, panelists warn trust and cooperation between rival brokerages is wearing…
As the war over private listings intensifies, Zillow and Compass (among others) are using dueling data reports and starkly different methodologies to make their respective cases in the courtroom—and in the court of public opinion. On July 24, Compass reported that pre-marketed homes that started as Private Exclusives or Coming Soons sold for 4.6% more…
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…
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