"Compass agreed to drop the lawsuit it filed against Zillow over its listing access standards that included a provision barring agents from listing homes previously marketed outside of multiple listing services for more than a day."
"While the announcements certainly made headlines, some industry players say the changes won't amount to much in New York, where off-market wheeling and dealing is already a fixture of the market."
"There's been this big narrative about seller choice, but hello, sellers have always had a choice, and they continue to, said Brown Harris Stevens CEO Bess Freedman."
"Zillow Preview does not extend to New York City, and while Streeteasy is a subsidiary of Zillow, the platform has not yet announced a similar program."
Compass has dropped its lawsuit against Zillow regarding listing access standards. Zillow announced a partnership with brokerages and a new tool, Zillow Preview, allowing agents to upload listings before MLS launch. However, industry players believe these changes will have little effect in New York City, where off-market transactions are common. The Real Estate Board of New York already permits some pre-marketing options. Additionally, Zillow Preview does not apply to New York City, and Streeteasy has not yet introduced a similar program.
Read at therealdeal.com
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