Zillow and Redfin accused of suppressing competition in lawsuit

The Federal Trade Commission (FTC) has filed a lawsuit against Zillow and Redfin, accusing the two real estate companies of entering an illegal deal to suppress competition in online rental advertising. According to the FTC, the agreement began in February when Zillow paid Redfin $100 million. In exchange, Redfin agreed to end contracts with advertising partners, stop competing ads for multifamily properties for up to nine years, and serve as a syndicator of Zillow listings on its own sites. The FTC alleges that this arrangement has limited competition and reduced consumer choice in the online rental advertising market.
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