{"id":2537,"date":"2021-10-01T20:16:48","date_gmt":"2021-10-01T20:16:48","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2021\/10\/01\/zillows-purchase-of-showingtime-closes\/"},"modified":"2025-03-13T02:39:17","modified_gmt":"2025-03-13T02:39:17","slug":"zillows-purchase-of-showingtime-closes","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2021\/10\/01\/zillows-purchase-of-showingtime-closes\/","title":{"rendered":"Zillow&#8217;s purchase of ShowingTime closes"},"content":{"rendered":"\n<p><strong>Zillow<\/strong> on Thursday completed its $500 million acquisition of <strong>ShowingTime<\/strong>, which real estate agents use to schedule home viewings, as federal regulators did not extend their window to review the deal.<\/p>\n\n\n\n<p>The Seattle-based home listings platform had <a href=\"https:\/\/preprod.housingwire.com\/articles\/zillow-to-buy-showingtime-for-500m\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced buying<\/a> the Chicago-headquartered schedule making app in February during the company\u2019s annual earnings call. However, the <strong>Federal Trade Commission<\/strong> delayed the deal\u2019s close by extending the review period.<\/p>\n\n\n\n<p>Under a 1976 federal law to police antitrust behavior \u2013 dubbed the Hart-Scott-Rodino Act \u2013 the FTC may intercede into proposed acquisitions and probe the companies involved. The Information <a href=\"https:\/\/www.theinformation.com\/articles\/ftc-chief-khan-resurrects-antitrust-review-of-zillow-deal-that-staff-previously-cleared\" target=\"_blank\" rel=\"noreferrer noopener\">reported<\/a> Thursday that the FTC, under its Joe Biden-appointed chair Lina Khan, did just that, scrutinizing Zillow about its market share in myriad aspects of the residential real estate economy.<\/p>\n\n\n\n<p>But the federal agency did not apply its power under the Hart-Scott-Rodino law to extend review yet further. Asked why Friday, a FTC spokesperson declined to comment.<\/p>\n\n\n\n<p>Zillow responded to questions with a written statement that seemed to acknowledge federal scrutiny may continue.<\/p>\n\n\n\n<p>\u201cWe\u2019ve been, and continue to be, open and transparent with the FTC throughout its review process and intend to cooperate fully with all appropriate procedures,\u201d the statement read. \u201cWe believe a robust, competitive real estate market best serves consumers and are looking forward to Showing Time helping improve the home touring experience for customers and partners across the industry.\u201d<\/p>\n\n\n\n<p>ShowingTime has little visibility to the consumer, but within real estate it \u2013 perhaps along with the San Francisco-based company <strong>DocuSign<\/strong> \u2013 is the dominant example of how technology has recently changed deal making. Many Multiple Listings Services sync in with ShowingTime, and agents often expect their counterparts will be on the platform.<\/p>\n\n\n\n<p>Agents have <a href=\"https:\/\/preprod.housingwire.com\/articles\/where-real-estate-agents-fit-into-zillows-grand-vision\/\" target=\"_blank\" rel=\"noreferrer noopener\">expressed misgivings<\/a> about Zillow\u2019s penetration into another corner of real estate. Already, the company operates Zillow Premier Agent, where agents pay a monthly fee to pop up on the website when users are browsing for homes. Zillow started its brokerage business in earnest earlier this year, and it has siphoned the <a href=\"https:\/\/preprod.housingwire.com\/articles\/zillow-earns-profit-no-thanks-to-ibuying\/#:~:text=Zillow%20makes%20money%20through%20agents,and%20%241.3%20billion%20in%20revenue.\" target=\"_blank\" rel=\"noreferrer noopener\">majority of company resources<\/a> into Zillow Offers, an iBuying division.<\/p>\n\n\n\n<p>\u201cI\u2019m very sad that Zillow was able to buy ShowingTime,\u201d said Angelique Andrae, a managing broker at <strong>Weichert Realtors<\/strong> in Silver Springs, Maryland. \u201cSince they are now a broker, I also think there\u2019s a potential conflict of interest there.\u201d<\/p>\n\n\n\n<p>Indeed, The Information reported that federal regulators are broadly examining Zillow. One possible focus is how Zillow divides listings into the \u201clistings agent\u201d and \u201cother agent\u201d categories, based on whether the home for sale is coming from an MLS internet data exchange feed.<\/p>\n\n\n\n<p>Austin, Texas-based brokerage <strong>REX<\/strong> filed a lawsuit over the practice, blasting it as the \u201csegregation rule.\u201d Federal judge Thomas Zilly denied REX\u2019s motion to enjoin Zillow\u2019s classification method. But Zilly also denied Zillow\u2019s motion to dismiss the lawsuit in an <a href=\"https:\/\/preprod.housingwire.com\/articles\/judge-lets-nar-zillow-lawsuit-proceed\/\" target=\"_blank\" rel=\"noreferrer noopener\">order earlier this month<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zillow on Thursday completed its $500 million acquisition of ShowingTime, which real estate agents use to schedule home viewings, as federal regulators did not extend their window to review the deal.<\/p>\n","protected":false},"author":16592,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[736],"class_list":["post-2537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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