Zillow Sued by Compass, Listing Battle Explodes
Zillow's New Listing Policy and Its Rationale Zillow has introduced a significant policy shift that could shake up traditional real estate practices. This new approach enforces strict listing guidelines in accordance with the National Association of Realtors (NAR) Clear Cooperation policy. The policy requires that properties be listed on the Multiple Listing Service (MLS) within 24 hours of being publicly marketed. This aims to enhance listing transparency and invigorate market competition. The strategic direction aligns with experiential and service-based tenants gaining favor, reflecting shifts seen in various development projects such as the Kansas City Mission Gateway. Zillow's mission is to ensure fair access and a level playing field. With the revised policy, the company seeks to curb "pocket listings," effectively eliminating exclusive sales that previously favored select buyers. By standardizing listing access, Zillow helps regulate timelines for MLS listing...