Two New York City renters filed a class action complaint alleging that brokerage giant Compass created a fake supply shock by hiding thousands of rental listings from free platforms like Zillow, artificially inflating rents. Plaintiffs claim Compass maintains a monopoly—controlling over 80 percent of NYC rental unit listings—which lets it dictate pricing.

After going to war with Zillow, the most popular free real estate platform that never charges broker fees, Compass began delisting homes earlier this year, allegedly scheming to force renters toward brokers and boost fees pegged to rent prices. Zillow retaliated with new standards excluding private listings, prompting Compass to file an antitrust suit it voluntarily dismissed after a judge ruled it unlikely to succeed. Local and federal authorities have since launched antitrust probes into Compass.

Renters cited data showing available rental units dropped 40 percent in the past year, with prices rising 3 percent in June before doubling to a 6 percent increase in July. One plaintiff paid $5,270 monthly for a downtown one-bedroom, far exceeding the $4,390 average asking rent one month earlier.

Plaintiffs seek disgorgement of profits, damages, and an injunction blocking Compass from hiding listings, arguing its conduct worsens affordability and deprives competitor brokers of commissions.