"At least, according to an antitrust lawsuit filed this summer by real estate brokerage Compass against Zillow, a listings behemoth that averages 87 million visitors per month. In May, Zillow instituted a new policy requiring that any publicly-marketed property be listed on its website within 24 hours - or be barred from its site completely. This standard, the company claims, ensures that its users - which include agents, homebuyers, and sellers - have transparent and equal access to all available properties."
"But Zillow's new policy effectively bars this kind of "soft launch," unless brokers are willing to forego the property's inclusion on the popular platform forever, says Elettra Bietti LL.M. '12 S.J.D. '22, a faculty associate with the Berkman Klein Center for Internet & Society at Harvard University. "Compass has introduced a few pre-market options they call 'Private Exclusive' and 'Coming Soon,'" she explains. "And what Compass is calling the 'Zillow ban' is making it impossible for them to continue to do that.""
Zillow implemented a policy requiring publicly-marketed properties to appear on its website within 24 hours or be barred. Some brokerages, notably Compass, use pre-market approaches like 'Private Exclusive' and 'Coming Soon' to market properties to limited audiences before public listing. MLS and other listing feeds traditionally distribute property information; some brokers delay public posting intentionally. Compass alleges that Zillow's rule eliminates those pre-market options and constitutes anticompetitive behavior, increasing costs and burdens in the buying and selling process. Legal action by Compass challenges the policy under antitrust law, with expert commentary criticizing the ban's effects.
Read at Boston Condos For Sale Ford Realty
Unable to calculate read time
Collection
[
|
...
]