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In this episode, Rob and Greg dive into Zillow's legal strategy in its defense against Compass's lawsuit, focusing on Zillow's surprising claim that it only facilitates a "single-digit" percentage of real estate transactions. They debate the strategic implications of this position—especially how it could undermine Zillow's perception of power in the industry—and analyze the broader impact on listing presentations, MLS relationships, and competitors like Compass and Homes.com. They also preview the upcoming Inman Connect in San Diego and discuss potential industry sentiment and attendance given the market's current challenges.

Key Takeaways

• Zillow's Legal Strategy: Zillow argues it is not a monopoly, claiming it only facilitates a single-digit percentage of home transactions.

• Strategic Risk: Rob questions why Zillow would make this claim, suggesting it weakens their perceived power and brand strength in the industry.

• Agent Sales Impact: The claim could hurt Zillow's Premier Agent business by giving competitors a compelling narrative ("why pay for single-digit exposure?").

• Compass Lawsuit Context: The lawsuit stems from Compass's perception that Zillow's policies harmed their three-phase marketing strategy and listing exposure.

• MLS Relationships: Rob and Greg wonder how MLSs might reevaluate their relationships with Zillow after this shift in positioning.

• eXp-Zillow Data Feed Deal: Rob questions why eXp is sending direct data feeds to Zillow when MLS feeds already exist.

• Inman Connect Preview: Greg expects a smaller, more introspective crowd due to market conditions. He plans to gather MLS sentiment on the ground.

• Industry Power Perception: Rob contends Zillow is still the most powerful entity in organized real estate—more than NAR post-clear cooperation—making its current legal stance all the more surprising.

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