PRESS RELEASE FTC Press Releases

FTC Secures Order Resolving Antitrust Concerns with Zillow-Redfin Agreement

What happened
Based on FTC Press Releases · Aug 24, 2026

The FTC and five states secured a court order ending a 2025 deal where Zillow paid Redfin $100 million to exit the rental listing market, restoring competition and requiring Redfin to re-enter with expanded services.

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FTC Secures Order Resolving Antitrust Concerns with Zillow-Redfin Agreement
FTC Press Releases — Federal Trade Commission
Key points
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The order also requires Redfin to reenter the ILS market with far more apartment listings and to make enforceable commitments to invest millions of dollars to ensure Redfin will be a far stronger competitor than it was before the 2025 agreement.
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Restoring competition in the ILS market is expected to drive down costs and spur innovation that benefits renters and property management companies.
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Federal Trade Commission and Redfin Corporation entered into an illegal agreement in February 2025 that dismantled Redfin as a competitor in the ILS advertising market for multifamily rental properties.
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ILS services are websites that allow consumers to search for rental housing.
Key numbers
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The agreement voids a 2025 deal where Zillow paid Redfin $100 million to shut down its internet listing services business, repost Zillow’s listings exclusively, and refrain from competing for up to nine years.
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Under the proposed order, valid for 10 years, Redfin must restart its internet listing services business within specified timeframes or face monetary penalties, with regular compliance updates required by the FTC.
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The FTC and five states secured a court order ending a 2025 deal where Zillow paid Redfin $100 million to exit the rental listing market, restoring competition and requiring Redfin to re-enter with expanded services.

The Federal Trade Commission, joined by five states, announced a stipulated order resolving litigation against Zillow and Redfin to restore competition in the online rental listing market. The agreement voids a 2025 deal where Zillow paid Redfin $100 million to shut down its internet listing services business, repost Zillow’s listings exclusively, and refrain from competing for up to nine years. The order mandates Redfin’s reentry into the market with significantly more listings and requires investments to strengthen its competitive position against Zillow.

The FTC alleged the 2025 agreement violated antitrust laws by eliminating Redfin as a competitor in the internet listing services market for multifamily rentals, which includes platforms like Zillow Rentals, Trulia, HotPads, Rent.com, and ApartmentGuide.com. The arrangement allegedly insulated Zillow from direct competition and further concentrated an already consolidated market. The FTC and participating states filed complaints in September and November 2025, leading to the consolidated litigation.

Under the proposed order, valid for 10 years, Redfin must restart its internet listing services business within specified timeframes or face monetary penalties, with regular compliance updates required by the FTC. Zillow and Redfin are prohibited from entering future syndication agreements that restrict either party’s ability to compete for internet listing services customers. The order aims to drive down costs and spur innovation benefiting renters and property managers.

The FTC’s vote approving the stipulated final order was unanimous, and the agreement was filed in the U.S. District Court for the Eastern District of Virginia. The order is joined by the Attorneys General of Arizona, Connecticut, New York, Virginia, and Washington, with stipulated final orders holding legal force once signed by a district court judge.

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