This week, Zillow’s Chief Industry Development Officer, Errol Samuelson, published a post on LinkedIn that’s been racking up an impressive number of comments.
Samuelson’s post hit LinkedIn on the same day Zillow announced a lawsuit against MRED and Compass for conspiring to cut off Zillow from Chicago-area listing data and force promotion of private listings on its platform.
If you’ve been following the legal back-and-forth between Zillow and Compass, this is the latest development, coming on the heels of MRED’s expansion of its Private Listing Network (PLN) and Compass signing up as the first brokerage to partner with it.
Whatever your take on Zillow vs Compass, the conversation on LinkedIn includes some talking points you’ll want to be aware of.
From consumers to big-name business leaders across the U.S., folks are paying attention to this lawsuit. And judging by the comment, most are taking Zillow’s framing with at least a few grains of salt.
Disagreement with Zillow’s Explanation of the Lawsuit
Here’s the full quote from Samuelson’s post:
“Zillow today took a big step in standing up for a fair and honest housing market.
MRED and Compass conspired to cut off Zillow’s access to Chicago-area listing data, not because we violated any legitimate rule, but because we’re committed to giving every buyer in the market the same opportunity to access inventory, every seller in the market the widest possible audience, and every agent in the market a fair shot at competing. When we didn’t back down on our commitment, they announced a national alliance designed to extend that pressure everywhere.
“So we have filed an antitrust lawsuit against them.
“MLSs are supposed to exist for the benefit of consumers, agents and the broader market. Using monopoly control over regional listing data as a weapon against platforms that won’t play along with a private listing scheme is the opposite of that mission. Thousands of independent agents and small brokerages built their businesses around a fair, open market. Private listing networks threaten that market, and the conduct MRED and Compass engaged in threatens anyone who tries to defend it.
More than 200 people representing a broad spectrum of views on Zillow, Compass, etc, commented on Samuelson’s LinkedIn post, including:
- Real estate agents & brokers
- Consumers
- Operations managers
- MLS leadership
- Legal professionals
- Real estate investor consultants
- Real estate CEOs
Some agree with Zillow’s decision to sue MRED and Compass, while others accuse the company of double standards or call attention to concerns not mentioned in Samuelson’s post.
Some are straight-up tired of both companies, accusing Zillow and Compass of spin and virtue signaling as they fight for control over listings. But of the two, Zillow seems to be taking more heat from commenters.
Here’s a peek at some of the sentiments garnering the most likes (paraphrased):
- ‘A plague on both your houses’
- ‘Zillow is doing what’s good for Zillow, not for the consumer.’
- ‘Private listings and closed networks risk shutting out historically excluded communities.’
- ‘MLSs are B2B, not for consumers.’
- ‘Zillow is the pot calling the kettle black.’
- ‘Zillow is trying to put realtors out of business.’
- ‘Zillow is a monopoly pretending not to be one.’
A clear minority commented in favor of Zillow as a force for greater transparency. Meanwhile, Eric Johnson, CEO of Mission Realty Advisors (Compass), commented more than once to clarify his company’s position.
We’re sharing some of the comments here to highlight the chief arguments for and against the lawsuit and Zillow’s framing of it.
So, where do you land on this lawsuit? Or which of these comments resonates with you most? Is there an angle you think we’ve missed or that hasn’t been represented in the comments?
Stay tuned for more as the story develops.
