Any mystery about whether Zillow Group was under federal investigation for potential anti-kickback violations cleared up last week when the company itself came clean. At the very end of its earnings call remarks, the real estate giant announced that for the last two years, the CFPB has been investigating its co-marketing program for compliance with the Real Estate Settlement Procedures Act (RESPA).
- The Consumer Financial Protection Bureau may decide to take legal action against Zillow Group for alleged violations of consumer protection laws.
- Agents not paying their 'fair share' of advertising spend could be at risk of legal liability.
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Inman Connect New York | January 29 - February 1, 2019