This story was originally attended Real Estate NewsThe
Federal Trade Commission is Case Real Estate Giants Jillo and Redfin complain that the two companies conspired to illegally eliminate the competition in the rental market.
In the complaint on September 7, the federal agency complains that companies have violated the Federal disbelief lawJillo gave Redfin $ 100 millionZillo will be the exclusive supplier of multifamily rental list at Redfin and its sites, fare dotcom and apartmentgide.com.
“The practical result of the contract is obvious: Redfin has finished business activities in its existing multifamily advertise [Internet Listing Services] Advertising for multifamily properties, “filing has been stated.
“As a result of the wholesale elimination of critical competition in this highly concentrated place, rentals and Americans who will harm their next home will harm them depending on the ILSS.”
There are allegations of violation of Sherman Law, Clayton Act and FTC Act.
Real Estate News Jillo and Redfin asked for comments and this story will update if reactions are available.
This is a developing story.