Zillow Settles Antitrust Lawsuit With The FTC
Zillow has settled an antitrust lawsuit with the FTC regarding its acquisition of rival Redfin's internet listing service. The settlement requires Redfin to re-enter the market and mandates that Zillow provide support for Redfin's recruitment and allow customers to renegotiate contracts.
Why it matters
This settlement aims to restore competition in the online real estate market, potentially lowering costs for renters and property management companies.
Competitor Redfin will re-enter the real estate listing market.
Zillow After accusations of Zillow buying off its rival Redfin for $100 million, the online real estate platform has settled an antitrust lawsuit brought on by the Federal Trade Commission. According to a press release from the FTC , the two sides resolved the lawsuit and reversed an agreement from Zillow that shut down Redfin's internet listing service (ILS) for apartment rentals.
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