FTC sues Zillow and Redfin, alleging antitrust violation in online rentals

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The Federal Trade Commission is suing real estate giants Zillow and Redfin , alleging the two illegally conspired to reduce competition in the online multifamily rental listing market, the agency said Tuesday.

In the complaint , the FTC alleges the companies violated federal antitrust laws earlier this year when Zillow paid Redfin $100 million to essentially re-host Zillow multifamily rental listings on Redfin and its sites.

Zillow- and Redfin-owned platforms such as Zillow Rentals and Rent.com are used by millions of Americans searching for their next home, the FTC said.

As part of the arrangement, the agency said Redfin agreed to terminate contracts with its existing advertising custome