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Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Amid private listing debates and portal wars, agents should be asking one question: How does my business benefit from the outcome?
Whether you’re signing with a brokerage or choosing a portal as a source of paid leads, your business is, well, the whole point. How will the branding, marketing and decisions they make impact you and your business?
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As the battle between Compass and Zillow heats up this week, and amid the ongoing controversies surrounding private listings, Clear Cooperation and the portal wars, agents are asking themselves whether they’re going to come out a winner or be left behind when the dust settles.
Compass sues Zillow over private listings ban by Lillian Dickerson and Taylor Anderson
In an antitrust lawsuit filed in U.S. District Court in the Southern District of New York, Compass sued Zillow over its new rules banning privately marketed listings from the platform. The suit alleges that Zillow employed “anticompetitive tactics to protect its monopoly and revenues in violation of the antitrust laws.”
The lawsuit escalates tensions between industry-leading Zillow, the country’s largest portal, and Compass, the No. 1 brokerage by sales volume.
READ: Sanford fires back at Compass, argues against ‘walled
“This lawsuit is about protecting consumer choice. No one company should have the power to ban agents or listings simply because they don’t follow that company’s business model,” Compass CEO Robert Reffkin said in a statement. “That’s not competition. It’s coercion. Imagine if Amazon banned a seller for offering a product on their own website first. That’s what Zillow is doing in real estate. Consumers should have the right to choose how they sell their homes.”
In its response, Zillow said, “At the heart of this issue is a simple principle: when a listing is publicly marketed, it should be accessible to all buyers — across all platforms, including Zillow. Hiding listings creates a fragmented market, limits consumer choice and creates barriers to homeownership, which is bad for buyers, sellers, and the industry at large, especially in this inventory and affordability-constrained environment.”
READ: Compass asks judge to block Zillow’s ban on publicly marketed private listings
Depending on which side you believe, everyone involved says they’re standing up for agents and their businesses. So how can you ensure that you’re standing up for your own best interests as well? By staying as informed as possible and understanding your numbers — both in your business and in the market at large.
This week, Inman contributors talked about both sides of the Compass/Zillow fight and Windermere’s Jeff Tucker looked at some rare good news from the spring market.
Is Zillow skating dangerously close to thin
Team leader Carl Medford writes that Zillow’s brokerage license and algorithmic pricing suggestions could be setting it up for a legal showdown that threatens its entire business model.
Compass’ antitrust gamble could shatter Zillow’s
Broker and attorney Greg Hague writes that the Compass vs. Zillow lawsuit will ultimately democratize real estate tech, empower innovation and put consumers back in control.
Amid a fairly flat market, May held some nice surprises:
Windermere Economist Jeff Tucker looks at recent economic indicators, including some surprising upside despite a disappointing spring market.
Christy Murdock is a writer, coach and consultant and the owner of Writing Real Estate. Connect with Writing Real Estate on Instagram and subscribe to the weekly roundup, The Ketchup.
