The majority of listings in the Chicago area disappeared from Zillow this morning, around eight hours after a midnight deadline set by local MLS Midwest Real Estate Data (MRED), marking a dramatic escalation in a bitter, high-stakes dispute over restrictions on “private listings” that is playing out nationwide. A sharply-worded announcement from MRED that went…
Above, left to right: Zillow CEO Jeremy Wacksman, MRED CEO Rebecca Jensen and Compass International Holdings CEO Robert Reffkin Midwest Real Estate Data (MRED) has announced that it will suspend property listing data feeds to Zillow Group websites, including Zillow.com and Trulia.com, unless Zillow cures its violation of its license agreements and MRED’s rules by…
A little over a week after Zillow sought to clarify its discussions with Chicago-based Midwest Real Estate Data (MRED) over restrictions on private listings, the MLS appears to be digging in, as this week MRED CEO Rebecca Jensen sent an emotional open letter to members defending its private listing network against a “one-size-fits-all model.” With…
A federal judge ruled yesterday that eXp must face accusations of fraud related to its actions in the wake of sexual assault allegations against top recruiters, writing that plaintiffs provided significant evidence that the brokerage lied about conducting an investigation into two men accused of drugging and assaulting women at company events. “Plaintiffs allege, in…
Borrowers and buyers suing Zillow for alleged RESPA violations and racketeering laid out new arguments in court filings last week, largely focused on pushing back against the portal’s contention that their lawsuit lacks legal merit while emphasizing their case hinges on agents’ obligations to represent clients’ best interests. The case, composed of two consolidated class-action…
Per a filing with the Securities and Exchange Commission (SEC) and court documents, REMAX has reached a settlement agreement in the Batton commission lawsuit (the first and largest by homebuyers) and will pay $8.5 million to resolve claims that it implemented and enforced rules that harmed buyers. The news comes the day after Judge LaShonda…
Just under nine months after filing a bombshell lawsuit against Zillow, Compass is dropping its legal challenge after the portal quietly modified its “Listing Access Standards” yesterday. The lawsuit had claimed that Zillow conspired with fellow portal Redfin to prevent Compass from implementing its “three-phased marketing plan” that involves a private listing phase. Last April,…
When the Compass-Anywhere deal closed in early January with little fanfare—only three months after it was announced—there were at least some raised eyebrows. A deal of that magnitude often elicits significant regulatory scrutiny, with multiple federal agencies given a chance over the course of months to examine how a merger will affect markets or whether…
Assistant Attorney General Gail Slater, who was overseeing the long-suffering Department of Justice (DOJ) investigation into the National Association of Realtors® (NAR), announced on social media yesterday that she would be resigning from the position, effective immediately. “It is with great sadness and abiding hope that I leave my role as (assistant attorney general) for…
After months of silence—and some indications that it was backing off its most aggressive positions—the Department of Justice (DOJ) under President Donald Trump is again addressing what it describes as “anticompetitive rules, policies and practices in the residential real-estate industry” as it intervened in yet another commission case last week. In a 23-page “statement of…
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