"Zillow maintains that its listing policy was designed to maintain listing transparency and to protect consumers. The firm also maintains that despite data showing that more Compass agents and listings have been impacted than those of any other brokerage, the policy is being applied neutrally. The filing also touched on Compass's allegations that Zillow and Redfin conspired, arguing that testimony from executives at both firms show that they developed their listing policies independently, and noting that Redfin ultimately never implemented the policy."
"The defendant also pushed back on Compass's claims that it is a monopoly power, noting that the listing portal space is full of growing competitors. Recent entrants to the market undermine arguments that there are significant barriers to entry. For example, CoStar acquired Homes.com in 2021 and its platform has grown rapidly in the four years that followed, from 2.4% to 19%."
Zillow asserts that Compass failed to satisfy legal and factual requirements for a preliminary injunction. Zillow says its listing policy preserves listing transparency and protects consumers, and that the policy is applied neutrally despite a larger number of Compass agents and listings being affected. Zillow denies any conspiracy with Redfin, noting executives developed policies independently and Redfin did not implement the policy. Zillow challenges Compass's monopoly and high-barrier-to-entry claims by pointing to growing competitors, including CoStar's acquisition and audience growth of Homes.com. Zillow contends Compass's alleged irreparable harm is speculative and inconsistent with Compass's strong third-quarter financial results, with no evidence linking Zillow's policy to Compass.com traffic declines.
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