If you keep up on your real estate industry news, there’s no doubt you’ve probably heard about the recent developments between ListHub, Zillow, and Trulia.
In case you haven’t kept up to date on the fast-paced developments, here is a brief recap of what has happened up until now:
ListHub recently announced that it would end its syndication agreements with Trulia and Zillow beginning February 26th. This news came on the heels of Zillow finally closing the deal on their acquisition of Trulia this past week after a six-month investigation by the Federal Trade Commission (FTC).
Basically this meant that if you use ListHub to send your listings to Trulia, they would no longer appear on Trulia after February 26. Additionally, April 8 was to mark the beginning of the same thing for those agents who use ListHub to send their listing to Zillow as well. The developments came fast and furious, and late last week Zillow announced that it has filed for a temporary restraining order on ListHub to keep listing going to Trulia.
Then the news broke yesterday that Judge Ernest Goldsmith of the San Francisco Superior Court granted Zillow’s restraining order and set a court date of March 12, meaning ListHub must continue to send listings to Trulia until at least that date.
According to Trulia’s president Paul Levine, “The court’s order is a win for brokers, agents and the home sellers they represent. Since News Corp announced its decision on Friday to prematurely cut off the listing feed to Trulia, we’ve received an influx of calls from MLSs and brokers who were concerned that they and their clients wouldn’t be able to effectively market their listings ahead of the home shopping season”.
What does it all really mean?
Well that depends on who you ask. On one hand, some agents now see ListHub’s parent, Move Inc. (a News Corp. subsidiary), as the playground bully. On the other hand, there are quite a few folks who applaud Move’s decision to end its agreements.
There are a few important questions that come to mind from this whole situation:
1) What is Zillow’s real “beef”?
Zillow claims it’s not necessarily about whether listings themselves continue to flow to Trulia, and says it is instead over the short notice that Move gave Trulia before pulling its listings.
2) Why wasn’t Zillow prepared?
Move Inc and ListHub brought up a very valid question – why wasn’t Zillow prepared for this type of a situation? Doesn’t Zillow have the ability to simply push all of its listing data to Trulia to replace the ListHub data?
3) What will happen from here?
Well, there’s really no telling what will happen… Perhaps Zillow will come out victorious and things will remain the same. Or perhaps brokers and agents need to start thinking about what they are going to do in case ListHub data no longer gets pushed out to T & Z!
Check back for more updates as they develop!