SEATTLE, Wash. – Washington has taken legal action against two of its own Seattle-based real estate giants. Attorney General Nick Brown, along with four other states, has filed an antitrust lawsuit against Zillow and Redfin.
The lawsuit stems from a $100 million deal between the companies earlier this year. The suit claims this agreement gave Zillow dominance in the online rental listings market, effectively eliminating Redfin as a competitor and leading to hundreds of job cuts.
Attorney General Brown emphasized the importance of fair competition, especially during the ongoing housing crisis.
“The move comes during a housing crisis when fair competition for renters is more important than ever,” Brown stated.
The Federal Trade Commission has also stepped in, filing its own lawsuit. The FTC accuses Zillow and Redfin of illegally cutting out competition, further intensifying the legal battle faced by the companies.
