Zillow and two MLSs appear to have reached a settlement agreement in an antitrust lawsuit over its ShowingTime software, in which the portal giant alleged a the MLSs conspired to use “monopoly power” to undermine its product in favor of a new service they owned.
Terms of the lawsuit were not immediately released, and Zillow and the MLSs did not immediately respond to a request for comment.
According to a court filing, Zillow, Arizona Regional MLS and Wisconsin-based Metro MLS have “signed binding term sheets” which will require them to “expeditiously” enter into a formal settlement.
“The parties do not expect the remaining issues to be an obstacle to completing and executing that detailed agreement,” lawyers for Zillow wrote.
The lawsuit was based on what was allegedly a year-long campaign by the two MLSs to deintegrate ShowingTime from their platforms while attempting to court members to a competing showing service they were developing. ShowingTime was eventually completely removed from their platforms on December 27 of last year.
Zillow claimed in the lawsuit they offered to provide a version of ShowingTime for free, an offer that the MLSs declined. Not having ShowingTime integrated into the MLS platform made the service “functionally unworkable for most agents,” Zillow said.
In an open letter to the industry published alongside the lawsuit, Zillow Chief Industry Development Officer Errol Samuelson argued that agents should be given choices, saying that the lawsuit was about “pro-competitive, pro-consumer solutions that preserve agent choice.”
The two MLSs had argued their actions were above-board, and part of a normal and healthy competitive process for real estate services.
According to the court fling, the settlement is expected to be finalized in the next month.
The Mls needs to get rid of the coming soon, talking about antitrust and going against the rules of regulations by the time it comes on the market the property Is usually already under contract we need to get rid of the coming soon, it is being misused and everybody knows it but nobody seems to be doing anything about that or the Mls junk fee that people tend to charge anywhere from 150 upwards it’s absolutely absurd. The Mls fee was for the books back in the 80s 90s and 70s it no longer exists Mls go away unless Office pay for everybody’s Mls it’s absurd
Not true. “Coming soon” is allowed for the first 24 hours only, and it is almost never results in securing a buyer. Does not sound like you are actively involved in real estate. What was in the 80’s and 90’s is long gone and irrelevant.
Yes, Realtors who, pay pay pay, WOULD in fact like a choice. However, the companies to which are offered are not vetted by the Realtors themselves, yet employee’s of the said organizations who then charge us whatever fee they come up with. Zillow wants products ‘for free’ and yet we as the end Payor’s foot the bill always. Realtors pay too much across the board for a service, yet it also feeds leads and personal client data to secondary companies in many ways. Realtors need more ‘transparency’ or shall we say FULL TRANSPARENCY. Licensed Real Estate practitioners are being fee’d to the nth degree, hired support programs and streamlining companies designed to make the process easier for us and our treasured Clients has gotten bureaucratic and we as Realtors need more choice’s, but want a say in the vetting and not just hear. “we are switching and this is how much it is” as is always the case. Whatever program or company next attempts to till the boots.
Nanci, I agree with you in regards to Zillow. Nothing is free with them, and all they want is to create their own online MONOPOLY on real estate sales, while pretending to fight an existing monopoly. All these latest meritless law suits, allegedly brought by some disgruntled Sellers (like if these sellers never had a choice to go FSBO), all of it, I am pretty sure, is orchestrated by Zillow. Zillow does not understand what a Realtor does for the buyer, so they want to eliminate the buyer’s agents, leaving the buyers unprotected and at the merci of sellers… Greed and ignorance is a deadly combination.
Marsha, I agree with you. Most Realtors never liked Zillow because their estimates are mostly wrong which makes sense because they have never been to the properties