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United States District Judge Jeannette Vargas denied Compass’ motion for a preliminary injunction in its federal antitrust lawsuit against Zillow on Feb. 6.
“Given that consumers use multiple online home search platforms simultaneously at little or no cost, Zillow’s brand recognition and related network effect do not appear to have deterred prospective home buyers from cross-shopping amongst competitors or new entrants,” Vargas wrote in her opinion.
She elaborated that even if Zillow possessed a 50% share or more of the market, Compass had not provided enough evidence of a monopoly to warrant a preliminary injunction. Such a court order would have prevented Zillow from enforcing its private-listing ban, which was introduced last May.
A spokesperson from Zillow provided this statement:
Today’s ruling is a clear victory not just for Zillow, but for consumers, agents, brokerages and the real estate industry at large. Zillow believes everyone deserves equal access to the same real estate information at the same time. Compass does the opposite — hiding listings away in its private vault, harming consumers and small businesses to benefit itself.
Compass filed this baseless lawsuit in an attempt to force Zillow to participate in that exclusionary scheme — but today, the United States District Court for the Southern District of New York rejected their effort to reduce transparency for consumers, ruling that Compass failed to show a likelihood of success on the merits. At a time when Americans are struggling to afford a home amid a major housing shortage, hiding listings in private networks only deepens the crisis. While Compass keeps consumers in the dark, Zillow turns on the lights to help people get home.
Compass filed its initial suit against Zillow in June, alleging the listing giant’s policies violate antitrust laws. An upcoming trial will decide the merit of Compass’ claim.
Robert Reffkin, chairman and CEO of Compass International Holdings, maintained that Vargas’ ruling is not a loss for the behemoth brokerage, which recently finalized its acquisition of Anywhere Real Estate Inc. in January.
“Our lawsuit continues forward,” Reffkin told Agent Publishing. “With agents being our clients, we have an obligation to protect our agents from Zillow, which explicitly stated they are trying to ‘punish the agent.’”
Reffkin’s allegation refers to an internal Zillow strategy document that referenced a “punishment list” of agents who don’t comply with Zillow’s listing policies.
That list would presumably be full of Compass agents, seeing as the brokerage’s “private exclusive” listing model delays listing on the broader MLS in favor of its own off-market listing network.
Zillow did not immediately respond to a request for comment regarding the assertion that it will take any retribution against noncompliant agents.
However, Compass reiterated in a statement that the lawsuit “has nothing to do with private exclusives” but with Zillow’s insistence that publicly marketing listings must be publicly available on all listing services — including, of course, Zillow.
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Emily Marek
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