Zillow Files Motion to Dismiss REX Lawsuit
Real estate giant Zillow® has filed a motion to dismiss a recently filed lawsuit by real estate upstart REX® claiming their practices violate anti-trust laws, and in conjunction with the National Association of Realtors® (NAR) claim further that their combined practices continue to keep real estate commissions artificially high and result in an anti-competitive atmosphere as it pertains to their listings. REX® admits that they do not subscribe to nor utilize local MLS Boards, hence the exit strategy for NAR as REX® claims to rely on internal advertising, social media, Realtor® networking, and the like to showcase their listings...with Zillow® being among the many mediums they rely on.
Rex® says they provide their listing information to Zillow® and pay for their Agents to be "Zillow Premier Agents" and go on to claim that even with this arrangement, their listings do not appear in the more publicly searched "Agents Listings" tab to the lesser used tab entitled "Other Listings", having gone as far as to say the term other has a "pejorative" connotation. More will come out regarding the relationship between Zillow® and NAR® as the case progresses, but whether or not their listings show up the same as others listings do tends to fall on the way in which they portray themselves as a non-traditional Brokerage that does not utilize the MLS, which acts as the primary feed for sites like Zillow®, Realtor.com, etc.
As a traditional means of advertising real estate, the value of the MLS cannot be overlooked, but it is certainly not the "only" method available to showcase properties. This is an interesting conundrum for sure and a hearing for this matter of dismissal is scheduled for May 10th of this year. Here at PropertyGuerilla.com, we focus on finding new ways for potential Buyers, Sellers, Realtors® and Agents to search for and showcase properties to one another. While this case is important to the industry, it does not change the way we strive to create an open forum and network for anyone with an eye on real estate. For more information, e-mail us directly at email@example.com and we look forward to answering any of your questions.
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