Better data: Zillow changed how it displays listings in January after gaining access to the Multiple Listing Services Internet Data Exchange feeds, whose rules are established by the NAR. Those rules prohibit websites that use the data feeds from combining NAR listings with those offered by non-NAR agents.
Zillow said it believes the rules restricting commingling are outdated, but had no choice but to agree to licenses to get access to the IDX data, which is more reliable and up-to-date that the previous data sources the company used.
After switching to the IDX feeds, Zillow was able to add 3,000 more home listings in Seattle — the city where the company’s headquarters is located. Losing access to those feeds would eliminate tens of thousands of listings now on Zillow and Trulia’s platforms, the company said.
Why it matters: The pandemic has led to a spike in homebuyer interest as white-collar employees transitioned to…