"Real estate's biggest turf war is playing out this week in a Manhattan courtroom, where a federal judge must decide if the so-called "Zillow ban" is fair. Compass, the nation's largest real estate brokerage by sales volume, is fighting the ban, under which Zillow excludes home listings from its site and penalizes brokers when properties were previously listed as private "exclusives" elsewhere."
""A listing marketed to any buyer should be marketed to every buyer," Zillow, the nation's most popular online destination for home buyers, said in announcing the strict new policy in April. Compass quickly sued to end the ban, arguing that it is monopolistic. On Tuesday, CEO and cofounder Robert Reffkin took the stand in hopes of convincing US District Judge Jeanette Vargas to temporarily halt the ban as the lawsuit plays out."
""I believe in choice versus control," Reffkin said on the stand, during questioning by Compass attorney Chahira Solh. "I think consumers and sellers should have the choice of how their homes are marketed, and it should not be mandated and dictated by platforms," Reffkin said. Closing arguments in the hearing are set for Friday. Vargas has not said when she will rule."
Zillow enacted a listing-access policy that excludes home listings from its site if they were selectively pre-marketed as private exclusives on other platforms and penalizes brokers. Compass filed suit, calling the policy monopolistic and seeking a temporary halt while the case proceeds. CEO Robert Reffkin testified that agents feel bullied and intimidated and argued that consumers and sellers should control how homes are marketed rather than have platforms dictate terms. Zillow framed the rule as ensuring listings marketed to any buyer are marketed to every buyer. A federal judge in Manhattan will decide after closing arguments.
Read at Business Insider
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