Zillow's enforcement policy requires agents to market their listings on its platform within 24 hours or risk permanent bans, leading to antitrust concerns and prompting Compass to file a lawsuit. In response, CoStar launched a free Boost program for listings banned by Zillow, resulting in substantial engagement and conversion rates. The Boost feature has contributed to agent success, with boosted listings reaching thousands of buyers and increasing chances of sale. A specific case highlighted involves a property misclassified by Zillow, showcasing the competitive implications of these policies.
Zillow's new policy mandates agents to market listings within 24 hours or face permanent bans, raising significant antitrust issues and prompting a lawsuit from Compass.
CoStar's Boost program is designed for listings banned by Zillow, enabling agents to market these homes effectively. The Boost feature has already attracted considerable interest from agents.
The CoStar Boosted listings, averaging 32 views per buyer, have shown a 25% increased likelihood of going under contract within 10 days, demonstrating its effectiveness.
Florance emphasizes that Zillow misclassified a compliant property as off-market, misleading potential buyers, which adds to the antitrust concerns surrounding Zillow's practices.
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