Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Zillow explodes against the antitrust suit of the start-up real estate company

Zillow explodes against the antitrust suit of the start-up real estate company



Better data: Zillow changed the way it displays lists in January after gaining access to multi-list data-sharing feeds on the Internet, the rules of which are set by the NAR. These policies prohibit websites that use data feeds from combining NAR lists with those offered by non-NAR agents.

Zillow says he believes the mixing restriction rules are outdated, but has no choice but to agree to IDX data access licenses, which are more reliable and up-to-date than previous data sources used by the company. .

After moving to IDX feeds, Zillow was able to add another 3,000 home listings to Seattle, the city where the company is headquartered. Losing access to these feeds would eliminate tens of thousands of ads on Zillow and Trulia platforms, the company said.

Why it matters: The pandemic has led to a surge in the interest of home buyers, as employees with white collars have moved to work from home and the high number of adults at all times has moved in with parents or grandparents. In December, Zillow predicts that 2021

is likely to see the highest growth in home sales since the 1980s.

The suit: REX sues Zillow in federal court last month over a change that allegedly benefited brokers belonging to NAR, the largest real estate association in the United States.

The change in January that Zillow and its subsidiary Trulia made to their platforms shifted all non-NAR lists to a “hidden section,” REX said, making it difficult for consumers to find these homes for sale. In a request dated April 15, REX said that the lists that move from the hidden tab to the main Zillow tab see up to a 500 percent increase in impressions.

The startup, which seeks to make real estate agents’ fees more transparent by leaving them to home buyers to negotiate, has asked the court for an order that would block Zillow from separating ads and favoring the 1.3 million real estate agents related to NAR.

Zillow and Trulia control 75 percent of the online home search market.

What next: REX will have a chance to respond to Zillow’s submission next month. U.S. District Judge Thomas C. Zilly has not yet said whether he wants to hold a hearing on REX’s request for an injunction or will rule on the basis of documents already filed.


Source link