Step-by-Step Summary of the Content
1. Zillow’s Decision: Restricting Private Listings
- CoStar’s CEO, Andy Florance, comments that Zillow has, “泯ished” private listings, arguing that CoStar’s priorities and Zillow’s strategies are both self-serving.
- Zillow justify their actions as necessary to prevent price inaccuracies and ensure fair competition, as buying through non-MLS listings costs more than through MLS.
Summary:
Zillow’s move is self-serving, as it hinders fair competition and dominates the real estate market.
2. Redfin’s Reaction
- Redfin’s CEO, Glenn Kelman, notes that Zillow may have inadvertently┬iusled the real estate crisis by bypassing the MLS system, which reduces available listing visibility for agents.
- Redfin believes Zillow’s approach ensures that non-MLS listings are widely accessible through MLS, fostering greater transparency for sellers and buyers.
Summary:
Redfin supports Zillow’s strategy, viewing it as essential for transparency and market fairness.
3. Zillow’s Strategy
- Zillow shares video, showcasing how they triangulate listings to send messages to buyers, while co-publicly inviting MLS agents to sell non-MLS properties to MLS members.
- Zillow claims thisancellation Rules buyers’ rights, with private listings needing to be made available to all potential buyers at all times.
Summary:
Zillow delays passing discussions on private listings indefinitely to protect buyers, highlighting distinct strategies.
4. CoStar’s Reaction
- CoStar’s CEO emphasizes working closely with Homes.com, which itself emphasizes agent-friendly listings.
- Corp’s corrective move suggests Replacing Redfin’s superior real estate knowledge with the simplicity of homes.com may amplify agent influence.
Summary:
CoStar refuses to support Zillow’s policies while advocating effective communication between agents and homogeneous listing platforms.
5. Zillow’s Starquate Issue
- CoStar’s response appears to clash with a broader trend where some leadership bodies struggle with their ethical responsibilities to underserved markets.
- Zillow’s restrictive approach risks actions by independent real estate agents, declaring it anti-competitive.
Summary:
CoStar’s stance may be on the defensive, reigniting investor skepticism about Zillow’s approach.
6. Investors and Their View
- Investors, including Morning xlink andckaLD, are increasingly focused on CoStar’s leadership, with some now worrying about the company’s ability to compete.
- This shift suggests a broader trend in the real estate market toward self-interested small businesses, reducing overall trust in independent agents and MLOs.
Summary:
Investors warn CoStar’s actions could undermine historical cooperation among agents, shaping the real estate landscape in a new way.
