03/19/2024

Zillow is Worried about America’s Housing Market Shakeup

Here is why it is

Since its founding nearly two decades ago, Zillow has revolutionized the way Americans buy, rent, sell — and fantasize — about housing in the U.S.

But a settlement that breaks the grip of powerful real estate agents could trigger a range of problems for the platform already suffering from declining traffic in an increasingly competitive housing market.

The company’s stock has dropped nearly 13 percent since Friday’s $418 million settlement between the National Association of Realtors (NAR) and groups of home sellers, which ended the standard 6 percent commission for Realtors.

Please select this link to read the complete article from CNN.