"The practical outcome of the agreement is obvious: Redfin has terminated its existing multifamily advertising business operations and, for the duration of the agreement, has stopped competing to provide [Internet Listing Services] advertising for multifamily properties, the filing states. The wholesale elimination of critical competition in this highly concentrated space will harm rental advertisers and the Americans who rely on ILSs to find their next home."
"Zillow announced its partnership with Redfin in February 2025, during its Q4 2024 earnings call. Through the partnership, Zillow became the exclusive provider of multifamily listings on Redfin, Rent.com and ApartmentGuide.com. Zillow paid Redfin $100 million upfront as part of this agreement."
Redfin terminated its multifamily advertising business operations and stopped competing to provide Internet Listing Services advertising for multifamily properties for the duration of the agreement. The elimination of competition in the concentrated multifamily ILS market will harm rental advertisers and renters who use ILSs to find housing. Zillow announced a partnership with Redfin in February 2025 and became the exclusive provider of multifamily listings on Redfin, Rent.com, and ApartmentGuide.com. Zillow paid Redfin $100 million upfront. The agreement runs five years with two options to extend by two years each. The FTC reportedly opened an investigation into the deal.
Read at www.housingwire.com
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