Zillow users in Chicago saw listings plunge from nearly 5,000 to about 1,700 after the platform lost access to MRED's feed. The portal alleges Compass and the MLS conspired to hide homes in private networks, harming buyers and sellers. This abrupt cutoff followed Zillow's suppression of nine non-compliant listings, triggering a contract breach clause.

Zillow's antitrust suit claims the Compass-MRED scheme creates information barriers, worsening the housing affordability crisis. The brokerages defend private listing networks as a seller's choice, accusing Zillow of stifling marketing options. MRED argues Zillow's harms are self-inflicted, stemming from its own policy decisions and contract violations.

This fight centers on who controls listing visibility. Private listing networks allow brokerages to restrict access, potentially steering buyers to their agents. Zillow warns such collusion lets dominant players like Compass hoard inventory, reducing market transparency and efficiency for consumers already facing high prices and low inventory.