"Zillow paid millions of dollars to eliminate Redfin as an independent competitor in an already concentrated advertising market-one that's critical for renters, property managers, and the health of the overall U.S. housing market. The FTC will do our part to ensure that Americans who are looking for safe, affordable rentals receive all the benefits of robust competition between internet listing services like Zillow and Redfin."
"The FTC claims the arrangement-framed publicly as a "partnership"-was in fact an unlawful anticompetitive agreement that eliminated Redfin as a meaningful competitor in the online rental space. According to the complaint, filed in U.S. District Court for the Eastern District of Virginia, the February 2025 deal required Redfin to terminate its advertising contracts, step away from competing in multifamily property advertising for up to nine years, and act solely as a syndicator of Zillow's rental listings."
Zillow faces an FTC lawsuit alleging that Zillow paid Redfin $100 million to exit and stop competing in the online apartment rental listings market. The FTC contends the February 2025 deal, framed publicly as a "partnership," required Redfin to terminate advertising contracts, step away from multifamily property advertising for up to nine years, and act solely as a syndicator of Zillow's rental listings. The complaint alleges hundreds of Redfin layoffs and harm to renters and property managers through reduced competition, higher costs, and fewer innovations. The suit is the fourth major legal challenge against Zillow in just over three months.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]