REALTORS® Frequently Asked Questions About Zillow
What every real estate agent needs to know about Zillow as a brokerage.
Disclaimer: I’m not an attorney. I don’t even play one on TV. But I do have a team who have helped me research and vet the information real estate agents should know as they navigate the real estate disrupter in their marketplace named Zillow. Zillow does not “come in peace”, as their former CEO once professed, but instead is a competing brokerage that is coming for the traditional agents’ clients.
For years, agents have wrestled with a love-hate relationship with the platform—using it for visibility while quietly resenting how much power (and profit) it’s gained from agent dollars. But 2025 is a turning point. With new listing policies, expanded brokerage operations, and tighter controls over what appears on their site, Zillow isn’t just a lead source anymore—it’s a direct competitor shaping the rules of the game.
And agents are asking: What now?
This article tackles the most frequently asked questions we hear from real estate professionals coast to coast—about ethics, antitrust worries, Premier Agent decisions, and Zillow’s newest policies on private listings. More importantly, we’ll offer real-world, actionable advice to help you navigate these changes with clarity and confidence—without selling out your values or your bottom line.
What’s changed since 2021?
- Zillow’s power continues to grow: After launching its brokerage arm nationwide in 2020, Zillow’s Premier Agent subscriptions still generate the bulk of their revenue—$1.45 billion in 2023, about 75% of total revenue. This means agents are still funding their competition. While Zillow closed down its iBuyer division in 2021, Zillow continues to gain strength.
- New “no private listings” policy: In April 2025, Zillow implemented listing access standards aligned with NAR’s Clear Cooperation Policy, banning listings from appearing on Zillow (forever) unless they’re live in the MLS within one day. This prevents any private or “office exclusive” listings from ever appearing on Zillow.
- Industry reactions: Brokerages like eXp and NextHome support Zillow’s transparency push, while others—including Homes.com via CoStar—criticize it as anti-agent and antitrust. Redfin also supports MLS-first listings with a “coming soon” approach. Compass filed an antitrust lawsuit against Zillow in late June 2025, challenging Zillow’s new “Zillow ban” policy.
The Biggest Questions That Real Estate Professionals are Asking
1. As REALTORS®, aren’t we prevented from saying anything bad or disparaging about Zillow because of the Code of Ethics?
Let’s first look at the actual code that has created this misbelief. The NAR Code of Ethics states: REALTORS® shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business .
As you will notice, the code does not say you cannot criticize, comment, complain, etc….it says you cannot make “false or misleading statements”. As an industry, we have every right to criticize any fellow REALTOR® if we think they are acting in bad faith. I would even argue, it’s our duty and responsibility to speak up and speak out when a REALTOR® IS acting against the greater good of our industry.
To summarize that point: if we are stating the facts, clearly and truthfully, then it is not an ethics violation.
2. If we discuss boycotting Zillow as an industry, isn’t that a violation of Anti-Trust Laws?
First, let’s be clear on who we are talking about.
Zillow Group is a corporation and there are several businesses within that organization.
- Premier Agent – a subscription service that real estate agents pay for to obtain leads. This product accounts for (as last reported) 89.9% of Zillow’s revenue.
- Zillow Homes – a licensed brokerage entity, to streamline Zillow Offers transactions.
Second, we are not talking about boycotting Zillow Group or Zillow Homes the brokerage. We are suggesting that agents should stop giving money to Zillow Premier Agent, their media subsidiary.
Now, let’s look at what the Sherman Act states:
The Sherman Antitrust Act: It makes it unlawful for “every contract, combination, or conspiracy in restraint of trade,” and any “monopolization, attempted monopolization, or conspiracy or combination to monopolize.” Investopedia did a terrific job of breaking down the law in layman’s terms here.
Even though we are not using the words “boycott” as an industry, we can boycott any outside vendor we want if we believe that vendor is hurting our industry not helping it. It’s no different when we as an industry publicly support or publicly denounce a politician who would hurt our industry, or when the MLB pulled out of Atlanta because they oppose voter suppression, or when companies pulled advertising from the NFL because players knelt during the anthem, or when a politician tells everyone to stop buying Coke.
What Can We Do As An Industry?
We are not saying brokers should not work with Zillow Homes by not showing their properties; we are not even disparaging Zillow as a brokerage.
What we are legally stating is that it simply doesn’t make sense for real estate professionals to continue to support and give money to Zillow’s Premier Agent product because they are now a competing brokerage. It is your right, and perhaps even your obligation, to stop funding your competition, and to share your reasoning for that – the facts and research – with your fellow agents and leadership teams.
If you are a Keller Williams agent, would you pay RE/MAX for leads? If you are a Century 21 agent, would you pay EXIT Realty for advertisement? ESPECIALLY if you knew that doing so would literally be funding their marketing efforts to compete against you?
Of course, you wouldn’t.
In essence, that is what agents are doing when they continue to give their advertising dollars to Zillow’s Premier Agent product. Remember this –Zillow’s Premier Agent subscriptions still generate the bulk of their revenue—$1.45 billion in 2023, about 75% of total revenue. That means AGENTS are funding Zillow’s brokerage efforts to actively compete with agents in more and more markets every day. That means AGENTS are funding Zillow’s brokerage efforts to actively compete with agents in more and more markets every day.
Thus, we believe it is a smart business decision to stop paying your competitor for leads that they are using to finance the marketing they are doing against you and your fellow agents.
3. What does Zillow’s 2025 “No Private Listings” policy mean for me?
- Sellers must list on MLS first: Any home meant for public listing must go live in the MLS within one day after appearing on Zillow or other platforms.
- Office-exclusive strategies challenged: This rules out private showings or office-only exclusive listings unless a seller opts out of public sites entirely.
- Once a listing is banned from Zillow, it will stay banned unless it’s with a new brokerage as a new listing that follows their rules.
4. Given all this, what should agents do?
| Strategy | What to do | Why it matters |
| Lead your budgeting | Reevaluate Premier Agent spend—are you fueling a competitor? | Reports show the vast majority of Zillow’s profit continues to come from agent subscriptions. |
| Review listing tactics | Use MLS-based listing strategies; discuss the implications of office-exclusives with each seller. | Helps align with industry best practices and avoid possible liability. |
| Stay MLS-engaged | Advocate for MLS enhancements (e.g., listing agent photos, “coming soon” fields). | Builds agent visibility and reduces Premier Agent dependency. |
| Educate clients | Explain Zillow’s brokerage roles and policies clearly. | Transparency strengthens trust and positions you as a knowledgeable advisor. |
The Competitive Risk
Zillow is not just a media portal—they are a brokerage using agent-paid advertising to generate leads for their own listings. Their 2025 policies around site access and private listings reinforce their dominant position. If agents keep investing in Zillow Premier Agent, they’re inadvertently strengthening their competitor. Steering marketing dollars toward agent-owned platforms, local MLS exposure, or other lead-gen methods is a strategic pivot that benefits agents directly.
Final Thoughts
Zillow isn’t going away—but neither is your value. As the landscape shifts, the most powerful thing you can do is take back control of your business. That means knowing where your dollars go, who benefits from your listings, and how to clearly articulate your worth to clients in a world where a website can’t—and won’t—do what you do.
This isn’t just about pushing back against a tech giant. It’s about stepping up as a true professional in a market that needs more trusted guides, not more algorithms. When you lead with clarity, facts, and service, you rise above the noise—and remind your clients why the human connection still matters most in real estate.
If you have questions or need more information, please contact us.
Our POWER AGENT® Program team is here for you through this transition and everything else that comes your way. It’s not just what we do. It’s who we are.
This information is not legal advice, nor is it a substitute for legal advice and no attorney-client or confidential relationship is or will be formed by use of this information. If you have any questions or concerns about the information, you should always consult with a legal professional who is aware of your individual situation, facts, and circumstances.
To ask Darryl to speak on this topic, or for interview inquiries, please contact us.
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