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Yahoo
08-05-2025
- Business
- Yahoo
Zillow to stop showing certain home listings in late May under new listing policy
Corrections & Clarifications: The headline on an earlier version of this story gave the wrong timing. The listing changes will happen later in May. Real estate giant Zillow is shaking up the housing industry with new standards that the company says fall in line with new regulations aimed at transparency, but others believe they represent a power play by the nation's largest residential real estate listing service. The company announced that any property listing that has been publicly marketed to consumers — whether through yard signs, in social media posts or on a brokerage website — but not listed on the local MLS within one business day, will no longer appear on Zillow or its daughter company, Trulia. Sometimes agents will make an agreement with a seller that says they'll list the property only on their brokerage website, rather than also on the MLS. The new standards Zillow is following say it won't show those listings. Similar listings that were posted on the platform before these new standards will remain on the website. In case you missed it: As real estate listings become more private, Zillow fights back This step is in line with the National Association of Realtors' Clear Cooperation Policy, which aims to prevent property listings from being selectively marketed to certain people and to create an even playing field for all buyers. "At the core of these standards is one simple principle: A listing publicly marketed to any buyer should be marketed to every buyer. This means in the MLS, on Zillow and even on non-Zillow portals or brokerage sites," Zillow's April announcement reads. "Why is this important? Because consumers deserve fair access to listings without having to get access behind a velvet rope controlled by any one company." Several real estate brokerages, including West USA Realty, eXp Realty and NextHome, have already vowed to follow Zillow's new another prominent real estate company, criticized Zillow's new standards in an email to agent subscribers, saying listing platforms should remain neutral and that this is a "power play of epic proportion." "Zillow is asserting that they, not NAR, not your brokerage, not you the listing agent — and not even the homeowner whose house it is and is paying the commission — should decide how a listing is marketed," said Andrew Florance, founder and CEO of CoStar, the parent company of "This is not about protecting consumers — it's about protecting Zillow's ability to profit from listings by selling leads to competing agents." According to a February Zillow investor presentation, 80% of consumers go directly to Zillow for residential real estate. Zillow also attracts 64% of all traffic among users of listing apps, which is more than four times that of its closest competitor. Because of that, Zillow said this is a step in the right direction to minimize confusion among consumers and ensure fair access to real estate information for all buyers. "By requiring timely listings in the MLS and on other sites that receive MLS feeds, Zillow aims to prevent the disadvantages that arise from private listing networks and restricted inventory, which limit visibility and have an added impact for first-time buyers, lower-income groups and communities of color," the announcement reads. This story has been updated to correct headlines. Maddie McGay is the real estate reporter for and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@ This article originally appeared on Zillow to stop showing certain home listings under new guidelines Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
06-05-2025
- Business
- USA Today
Zillow stopped showing certain home listings in May under new listing policy
Zillow stopped showing certain home listings in May under new listing policy Show Caption Hide Caption Mortgage preapproval first-time homebuyers If you're a first-time homebuyer, here's how to get a mortgage preapproved. Starting earlier this month, any property listing that was publicly marketed to consumers but not listed on the local MLS within one business day no longer appears on Zillow. This step is in line with the National Association of Realtors' Clear Cooperation Policy, which aims to prevent exclusive real estate listings and increase fairness among buyers. Real estate giant Zillow is shaking up the housing industry with new standards that the company says fall in line with new regulations aimed at transparency, but others believe they represent a power play by the nation's largest residential real estate listing service. The company announced that any property listing that has been publicly marketed to consumers — whether through yard signs, in social media posts or on a brokerage website — but not listed on the local MLS within one business day, will no longer appear on Zillow or its daughter company, Trulia. Sometimes agents will make an agreement with a seller that says they'll list the property only on their brokerage website, rather than also on the MLS. The new standards Zillow is following say it won't show those listings. Similar listings that were posted on the platform before these new standards will remain on the website. In case you missed it: As real estate listings become more private, Zillow fights back This step is in line with the National Association of Realtors' Clear Cooperation Policy, which aims to prevent property listings from being selectively marketed to certain people and to create an even playing field for all buyers. "At the core of these standards is one simple principle: A listing publicly marketed to any buyer should be marketed to every buyer. This means in the MLS, on Zillow and even on non-Zillow portals or brokerage sites," Zillow's April announcement reads. "Why is this important? Because consumers deserve fair access to listings without having to get access behind a velvet rope controlled by any one company." Several real estate brokerages, including West USA Realty, eXp Realty and NextHome, have already vowed to follow Zillow's new standards. But another prominent real estate company, criticized Zillow's new standards in an email to agent subscribers, saying listing platforms should remain neutral and that this is a "power play of epic proportion." "Zillow is asserting that they, not NAR, not your brokerage, not you the listing agent — and not even the homeowner whose house it is and is paying the commission — should decide how a listing is marketed," said Andrew Florance, founder and CEO of CoStar, the parent company of "This is not about protecting consumers — it's about protecting Zillow's ability to profit from listings by selling leads to competing agents." According to a February Zillow investor presentation, 80% of consumers go directly to Zillow for residential real estate. Zillow also attracts 64% of all traffic among users of listing apps, which is more than four times that of its closest competitor. Because of that, Zillow said this is a step in the right direction to minimize confusion among consumers and ensure fair access to real estate information for all buyers. "By requiring timely listings in the MLS and on other sites that receive MLS feeds, Zillow aims to prevent the disadvantages that arise from private listing networks and restricted inventory, which limit visibility and have an added impact for first-time buyers, lower-income groups and communities of color," the announcement reads. Maddie McGay is the real estate reporter for and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@
Yahoo
01-05-2025
- Business
- Yahoo
New CEO at Buffett's HomeServices says buyers, sellers can handle tariffs, changes
By Jonathan Stempel OMAHA, Nebraska (Reuters) -The new chief executive of Berkshire Hathaway's HomeServices of America said worries about the impact of tariffs on mortgage rates are weighing on home buyers and sellers, but were unlikely to significantly dent sales of existing homes. "When mortgage rates are fluctuating because the underlying economy is fluctuating, it causes buyers and sellers to stay on the fence," Chris Kelly, who took over the largest U.S. residential real estate brokerage on April 15, said in a recent interview. Higher borrowing costs contributed to a greater-than-expected 5.9% drop in March U.S. sales of existing homes, to a seasonally adjusted 4.02 million unit annual rate, with more weakness likely as tariffs fan fears of a recession. "The high degree of volatility we've seen in the last couple of months is giving buyers and sellers a little bit of pause," Kelly said. "But there are still 4 million people who are going to make a move this year." HomeServices is a unit of Berkshire Hathaway Energy, which is part of Warren Buffett's conglomerate, and owns or franchises more than 2,200 brokerage offices with over 82,000 agents. It lost money in 2024, largely from its $250 million settlement of antitrust litigation accusing the National Association of Realtors and brokerages of inflating commissions. HomeServices was the last defendant to settle the landmark case, though Berkshire Hathaway Energy faces related claims. The brokerage commission settlement ended the practice of having sellers pay commissions, typically 5% to 6%, to their agents, who would split them with buyers' agents. Splits would be communicated over private databases known as multiple listing services (MLS), which only agents would see. Sellers claimed this was secretive and inflated closing costs. The NAR's Clear Cooperation Policy requires agents to list properties on their MLS within one business day of marketing the properties to the public. Supporters say it adds transparency and provides equal access to listings, while critics say it restricts sellers' ability to choose marketing strategies. "That's where the current battlefront is: what happens if more properties are listed as exclusives, or marketed with more limited exposure," Kelly said. "From our perspective, the vast majority of properties benefit from the widest exposure possible, which means putting it in the MLS." He added that "We always want the consumer to have a high degree of clarity on the fee and commission structure." HomeServices has curbed its once aggressive appetite to buy brokerages to fuel growth, and Kelly said it will likely emphasize "tuck-ins" of brokerages that might struggle to compete on their own. But he also said HomeServices has diverse revenue streams from mortgages, title and insurance, citing its stake in nationwide underwriter Title Resources Group, which can cushion the blow when one segment falters. Kelly, 49, joined HomeServices' network in 2007 when he left private law practice to become general counsel at Kansas- and Missouri-based ReeceNichols. He later moved to the parent company. Kelly reports to Berkshire Vice Chairman Greg Abel, who is expected to succeed Buffett as chief executive.
Reuters
01-05-2025
- Business
- Reuters
New CEO at Buffett's HomeServices says buyers, sellers can handle tariffs, changes
OMAHA, Nebraska, May 1 (Reuters) - The new chief executive of Berkshire Hathaway's (BRKa.N), opens new tab HomeServices of America said worries about the impact of tariffs on mortgage rates are weighing on home buyers and sellers, but were unlikely to significantly dent sales of existing homes. "When mortgage rates are fluctuating because the underlying economy is fluctuating, it causes buyers and sellers to stay on the fence," Chris Kelly, who took over the largest U.S. residential real estate brokerage on April 15, said in a recent interview. Higher borrowing costs contributed to a greater-than-expected 5.9% drop in March U.S. sales of existing homes, to a seasonally adjusted 4.02 million unit annual rate, with more weakness likely as tariffs fan fears of a recession. "The high degree of volatility we've seen in the last couple of months is giving buyers and sellers a little bit of pause," Kelly said. "But there are still 4 million people who are going to make a move this year." HomeServices is a unit of Berkshire Hathaway Energy, which is part of Warren Buffett's conglomerate, and owns or franchises more than 2,200 brokerage offices with over 82,000 agents. It lost money in 2024, largely from its $250 million settlement of antitrust litigation accusing the National Association of Realtors and brokerages of inflating commissions. HomeServices was the last defendant to settle the landmark case, though Berkshire Hathaway Energy faces related claims. The brokerage commission settlement ended the practice of having sellers pay commissions, typically 5% to 6%, to their agents, who would split them with buyers' agents. Splits would be communicated over private databases known as multiple listing services (MLS), which only agents would see. Sellers claimed this was secretive and inflated closing costs. The NAR's Clear Cooperation Policy, opens new tab requires agents to list properties on their MLS within one business day of marketing the properties to the public. Supporters say it adds transparency and provides equal access to listings, while critics say it restricts sellers' ability to choose marketing strategies. "That's where the current battlefront is: what happens if more properties are listed as exclusives, or marketed with more limited exposure," Kelly said. "From our perspective, the vast majority of properties benefit from the widest exposure possible, which means putting it in the MLS." He added that "We always want the consumer to have a high degree of clarity on the fee and commission structure." HomeServices has curbed its once aggressive appetite to buy brokerages to fuel growth, and Kelly said it will likely emphasize "tuck-ins" of brokerages that might struggle to compete on their own. But he also said HomeServices has diverse revenue streams from mortgages, title and insurance, citing its stake in nationwide underwriter Title Resources Group, which can cushion the blow when one segment falters. Kelly, 49, joined HomeServices' network in 2007 when he left private law practice to become general counsel at Kansas- and Missouri-based ReeceNichols. He later moved to the parent company. Kelly reports to Berkshire Vice Chairman Greg Abel, who is expected to succeed Buffett as chief executive.
Yahoo
30-04-2025
- Business
- Yahoo
Zillow will stop showing certain home listings in May under new listing policy
Real estate giant Zillow is shaking up the housing industry with new standards that the company says fall in line with new regulations aimed at transparency, but others believe is a power play by the nation's largest residential real estate listing service. The company announced that any property listing that has been publicly marketed to consumers — whether through yard signs, social media posts or on a brokerage website — but not listed on the local MLS within one business day will no longer appear on Zillow or its daughter company, Trulia. Sometimes agents will make an agreement with a seller that says they'll only list the property on their brokerage website, rather than also on the MLS. The new standards Zillow are following say that they won't show those listings. Similar listings that were posted on the platform prior to these new standards will remain on the website. This step is in line with the National Association of Realtor's Clear Cooperation Policy, which aims to prevent property listings from being selectively marketed to certain people and to create an even playing field for all buyers. "At the core of these standards is one simple principle: A listing publicly marketed to any buyer should be marketed to every buyer. This means in the MLS, on Zillow and even on non-Zillow portals or brokerage sites," Zillow's April announcement reads. "Why is this important? Because consumers deserve fair access to listings without having to get access behind a velvet rope controlled by any one company." Several real estate brokerages have already vowed to follow Zillow's new standards, including West USA Realty, eXp Realty and NextHome. But another prominent real estate company, criticized Zillow's new standards in an email to agent subscribers, stating that listing platforms should remain neutral and that this is a "power play of epic proportion." "Zillow is asserting that they, not NAR, not your brokerage, not you the listing agent — and not even the homeowner whose house it is and is paying the commission — should decide how a listing is marketed," said Andrew Florance, founder and CEO of CoStar, the parent company of "This is not about protecting consumers — it's about protecting Zillow's ability to profit from listings by selling leads to competing agents." According to a February Zillow investor presentation, 80% of consumers come directly to Zillow for residential real estate. Zillow also attracts 64% of all traffic among users of listing apps, which is more than four times of its closest competitor. Because of this, Zillow said this is a step in the right direction to minimize confusion among consumers and ensure fair access to real estate information for all buyers. "By requiring timely listings in the MLS and on other sites that receive MLS feeds, Zillow aims to prevent the disadvantages that arise from private listing networks and restricted inventory, which limit visibility and have an added impact for first-time buyers, lower-income groups and communities of color," the announcement reads. Maddie McGay is the real estate reporter for and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@ This article originally appeared on Zillow to stop showing certain home listings in under guidelines Sign in to access your portfolio
