The Federal Trade Commission (FTC), alongside five states, announced today that it will file a stipulated order to resolve its antitrust litigation against Zillow and Redfin, aiming to restore competition in the online rental market.
This proposed order addresses an allegedly unlawful agreement between the two real estate technology companies. The resolution seeks to ensure that renters have more options to find apartments and property managers can more effectively list their properties online.
A key outcome of the order requires Redfin to reenter the market for internet listing services. This move is intended to position Redfin as a stronger competitor, fostering a more competitive environment for online rental platforms.