The Federal Trade Commission is seeking to unwind key parts of a rental-listing agreement between Zillow Group Inc. (NASDAQ:Z) and Redfin Corp. and require Redfin to reenter the market.
The FTC said Monday it will file a stipulated order resolving its litigation against the companies and restoring competition in online platforms used by renters and property managers. The agency said the 2025 agreement involved Zillow paying Redfin $100 million to shut down its internet listing services business, transfer advertising customers to Zillow and stay out of the market for up to nine years.
Redfin Must Return To Rentals
The proposed order, which would remain in place for 10 years, requires Redfin to restart its internet listing services rental advertising business within six months after the order is finalized.
Redfin would also have to build the technology needed to display customer listings across its rental sites, hire a general manager, sales staff and a customer-support team, and invest millions of dollars in growing the business.
