"If the dominant portal had to actually compete to get better listings, compete on price, compete on features, compete on value, they would have to completely change their business model or fail," Reffkin said.
Realtracs and Zillow have reached a new licensing agreement that will keep the multiple listing service’s direct feed flowing to the portal.
The cut is the second significant layoff this year for the portal. CEO Jeremy Wacksman said it has to do with cost management.
At Inman Connect San Diego, Jonathan Miller argued the agents winning listings aren't the ones with the most data, but the ones who can translate it into a story sellers trust. Racquel Russell and Jason Abrams built on the theme, describing how top agents are shifting from standard pitch decks to strategic conversations with sellers.
Zillow Chief Economist Mischa Fisher talked about uncertainty and how agents are perfectly positioned to help consumers navigate pain points.
Ahead of his first Inman Connect appearance, Zillow Chief Economist Mischa Fisher talks private listings, the economy and finding clarity in local trends.
Jason Oppenheim and Aaron Kirman talked private listings and the balance between seller choice and market transparency.
A federal judge dismissed a proposed class-action lawsuit accusing Zillow of misleading homebuyers about its agent referral program.
New Compass research says phased marketing helps homesellers, while Zillow’s recent court-filed data points to lower returns.
The Subcommittee on the Administrative State, Regulatory Reform, and Antitrust requested briefings about the companies’ business practices.
According to new research from Zillow, the empty lots, all 5 acres or smaller, made up 17.4 percent of all for-sale listings nationally in June.
The complaints span 26 states, 55 MLSs and 30 Realtor associations, a Compass spokesperson confirmed to Inman.