Proposed Zillow–Redfin Rental Advertising Order: What Changes

The proposed Zillow–Redfin rental advertising order would restore Redfin’s independent advertising sales while preserving Zillow listing syndication. For multifamily operators, that could mean another seller to compare even when a property already appears on both companies’ websites. The filed proposed order sets requirements for rebuilding Redfin’s business; it does not establish a completed relaunch or lower advertising prices.

The filing bears an August 24, 2026 court stamp and leaves the judge’s signature and order date blank. New York’s announcement that day links this document, and Zillow’s August 24 SEC filing explicitly describes the order as subject to court entry. For this article’s August 25 cutoff, we could not verify an entry date. The deadlines below therefore remain tied to their stated triggers and cannot be calculated from the filing date.

What the Zillow Redfin rental advertising order addresses

The FTC alleged that Zillow paid Redfin $100 million under the February 2025 arrangement to end its multifamily advertising contracts and transition customers to Zillow. Redfin agreed to stay out of the market for up to nine years while displaying Zillow listings and receiving compensation for leads. These are allegations in the FTC’s September 30, 2025 complaint, rather than findings established at trial.

The complaint identifies multifamily buildings as those with at least 25 units. The proposed order uses that threshold for the rental properties covered by its reentry provisions. Operators should check the relevant definitions before assuming their building or advertising contract qualifies.

Section I of the proposed order would remove restrictions on Redfin selling advertising independently and displaying its customers’ listings. It would also eliminate specified requirements to disclose nonpublic or competitively sensitive business information to Zillow. Redfin would have to invest in rebuilding its business and hire staff to acquire and support customers, as described in the New York attorney general’s announcement.

Syndication can continue alongside standalone advertising

Syndication distributes listing content across websites. Independent advertising sales create a separate commercial relationship with the property manager. A platform can display syndicated listings while competing to sell its own advertising. A listing can therefore appear in several places while only one seller negotiates the package, price and service terms.

The proposed order expressly requires Zillow to continue supplying listings to Redfin under the amended agreement. Section II.A

In its August 24 announcement, Zillow said syndication would continue across Zillow, Trulia, HotPads, Rent.com, ApartmentGuide and Redfin. It also said both companies would offer standalone multifamily advertising products in 2027 alongside the partnership. Zillow’s announced plan does not establish product availability or change the filing’s deadline triggers.

One restriction remains in the proposed arrangement: Appendix A restricts Redfin from selling products that display listings for managed multifamily properties of 25 or more units on its sites through third parties other than Zillow, while expressly permitting Redfin’s own product. Proposed amendment, revised Section 3

When comparing rental advertising platforms, operators need to identify both where a listing appears and who sells and services the advertising. Counting website logos alone cannot establish whether two offers provide separate commercial choices or overlapping distribution.

When must Redfin restart rental advertising?

The companies stipulated to comply with the proposed order pending court entry. That commitment is distinct from provisions whose deadlines are expressly measured from entry. Filed stipulations, paragraph 3

Sections I–V of the filed proposed order set out these implementation triggers:

Under Section IV.A, reentry requires a working listing-upload portal with demonstrated customer usage, a billing system, a general manager, salespeople, sufficiently staffed and trained customer support, and advertising to attract customers. An announcement accepting expressions of interest would not, by itself, demonstrate those capabilities.

During the nine-month contract window, Zillow customers whose contracts cannot be canceled within three months may exit or renegotiate without cost or penalty in order to negotiate with or contract with Redfin. The window starts when Redfin satisfies the reentry requirements; the customer notice has a separate trigger. Sections II.C and V

Operators considering that relief should have counsel review their eligibility and contract before acting. For teams tracking housing litigation developments, court entry, fulfillment of the reentry requirements and the customer notice are separate milestones.

How property managers can compare the eventual offers

The specified investment amounts, minimum sales staffing and required operating end date remain nonpublic. Section IV and Appendices D and E The announcements reviewed for this article also provide no property-specific quotes or demonstrated results from a relaunched standalone business.

Consider a hypothetical manager of a 200-unit property whose Zillow advertising already reaches Redfin websites through syndication. Once a standalone Redfin offer becomes available, a second quote could provide a useful alternative. Its value would depend on coverage, placement, service and total cost.

The manager could keep the existing package, replace it with a standalone product or purchase both. If replacing the package removes a destination the property values, that loss belongs in the comparison. If purchasing both produces duplicate inquiries, counting each as an additional prospect would overstate the added reach.

A purchasing discussion should resolve three questions:

• What changes in distribution and service? Request a written list of included websites, placement features and destinations that would disappear when the current package ends. Confirm who services the account and where inquiries arrive.
• What changes in measurement? Ask how each vendor identifies duplicate inquiries, attributes leases and reports results for the same property and period.
• What changes in the commitment? Compare total fees, minimum terms, renewal provisions, cancellation notice and the confirmed service start date.

For multifamily operations, track inquiry and lease counts alongside the property’s economic occupancy. The settlement does not establish that a new vendor or cheaper package will improve rental income. Before changing coverage, compare a confirmed offer’s terms and service start date with the package—and performance—the property already has.