Overview
- On day one, Compass CEO Robert Reffkin testified that agents feel “bullied” by a policy that excludes listings pre‑marketed outside the MLS and can require sellers to change agents to appear on Zillow.
- Compass broker Kerry Carr described a Zillow warning that chilled use of Compass’s private exclusives and changed how she advises sellers about marketing options.
- Zillow executive Errol Samuelson said the company moved to curb a “contagion” of private listing networks and used a carrot‑and‑stick approach to keep listings in IDX, with the rule effective June 30 and triggered after more than one business day of prior public marketing.
- On day two, Zillow CEO Jeremy Wacksman was questioned about communications with Redfin as CFO Jeremy Hofmann acknowledged discussing a potential $1.3 billion revenue uplift for Compass if it adopted Zillow’s standards.
- Compass highlighted data showing hundreds of Zillow violations tied to its agents versus far fewer at rivals, and Judge Jeannette Vargas is expected to rule on the preliminary injunction later this year or early next year.