In a recent email, CoStar Group's CEO Andy Florance reacted to Zillow's new announcement against exclusive home listings, which exclude certain properties from public view if marketed in limited ways. Zillow aims to streamline listings to avoid consumer frustration with inconsistent availability. Florance criticized Zillow's decision as an audacious power play and vowed to accept listings that Zillow rejects. This conflict illustrates the volatile dynamics in the real estate market, particularly as agents navigate exclusive inventory amid declining sales and commission challenges.
For months, the industry has been embroiled in a fight over 'exclusive inventory' - homes marketed for sale by real estate agents but purposely kept off public search portals.
Zillow framed the move as a defense of consumers: 'Fragmented listing access creates frustration and distrust,' they declared.
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