FTC Settlement Forces Redfin Back Into Rental Listings Market, Reshaping $100 Million Zillow Deal

The Federal Trade Commission and five states reached a proposed settlement with Zillow ($Z) and Rocket Companies ($RKT)-owned Redfin that dismantles key restrictions in a $100 million Zillow-Redfin agreement and requires Redfin to reenter the rental internet-listing market as an independent competitor.

• The FTC sued in September 2025, alleging Zillow paid Redfin $100 million to exit multifamily rental advertising, transfer customers to Zillow, exclusively syndicate Zillow listings and stay out of the market for up to nine years.
• Under the proposed 10-year order, Redfin must restart its rental advertising business within six months, rebuild its technology and sales operations, and commit tens of millions of dollars to the business over multiple years.
• Redfin will continue carrying Zillow listings but can independently sell advertising and add listings from its own customers, giving its relaunched platform more inventory than it had before the 2025 agreement.
• Zillow must facilitate Redfin's recruitment of its employees and temporarily allow certain Zillow customers to renegotiate contracts without penalty after Redfin relaunches.
• The settlement resolves litigation brought by the FTC and Arizona, Connecticut, New York, Virginia and Washington. It requires court approval before taking effect.

Relevant Companies

• Zillow ($Z) — Must remove restrictions that limited Redfin's ability to compete for rental-listing customers.
• Rocket Companies ($RKT) — Owns Redfin, which must rebuild and invest substantially in its rental advertising business.

Editor’s Note: This is a developing story. This article may be updated as more details become available.