"In a memorandum filed in support of the motion, the defendants claim that the regulator plaintiffs are challenging a collaboration that makes renters and property managers better off and the rental advertising business more competitive. The defendants argue that by partnering, they are able to provide consumers with more rental listings and in turn provide more prospective renters for landlords."
"The memorandum also argues that the plaintiffs fail to take into account that the two listing portals are two-sided platforms geared toward both landlords and renters, as Redfin and Zillow feel that the plaintiffs only focused on how the partnership impacts landlords. They also argue that the plaintiffs incorrectly defined the market and that they don't adequately show that Zillow and Redfin have enough market power to harm competition."
Redfin and Zillow filed a motion to dismiss a combined lawsuit, arguing the partnership benefits renters, property managers, and competition in rental advertising. The defendants contend that the partnership enabled more rental listings and supplied landlords with additional prospective renters. The parties say the collaboration began after Redfin struggled to grow real listings and Zillow aimed to improve its renter platform and advertiser performance. Redfin reports redirecting funds from an underperforming rental advertising business to better compete for renters. The defendants assert the plaintiffs fail to show market harm, misdefine the market, and ignore the platforms' two-sided nature. A hearing is set for February 25.
Read at www.housingwire.com
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