Overview

• Zillow's new policy mandates that any property marketed to consumers must be listed on the MLS within 24 hours or face permanent exclusion from its platform.
• The initiative seeks to combat the rise of private and delayed marketing listings, which Zillow argues harm market transparency and consumer access.
• Redfin has endorsed the policy, stating it aligns with their commitment to ensuring all buyers have equal access to property listings.
• Critics, including CoStar CEO Andy Florance, claim Zillow's move is self-serving and designed to protect its lead generation business rather than consumer interests.
• The policy comes as private exclusive listings, notably from Compass, have surged, raising concerns about market fragmentation and higher costs for buyers.