Zillow Settles FTC Claims Over $100M Payment to Redfin

Zillow has settled with the U.S. Federal Trade Commission (FTC) and five states regarding claims it illegally paid Redfin $100 million to inhibit competition in apartment listings. The FTC and states argued that this partnership resulted in higher costs for landlords and reduced listing quality for renters. Redfin's rental advertising business will resume in six months under the settlement, but it will maintain its partnership with Zillow through at least 2030. This settlement highlights the significance of competition in online listings for renters, impacting a substantial portion of the U.S. population, as over 30% of Americans rent their homes.