Private listing networks and transparency: Zillow’s position and record

Private listing networks are listing arrangements that limit who can see a home instead of exposing it to the full market. Restricted visibility can harm sellers, reduce transparency for buyers, and fragment market access. Zillow’s research shows that private listing networks cost sellers an average of $4,230 per home, based on analysis of more than 15 million home sales between 2023 and 2025.

Zillow’s Listing Access Standards are designed to support transparency and broad visibility for buyers, sellers and agents. To meet the standards and be displayed on Zillow, a listing that is publicly marketed must be made broadly available to the public within one business day. Listing agents are notified multiple times before Zillow opts not to display a listing that doesn’t meet the standards. Zillow’s standards cover how listings appear on Zillow’s own platform; they do not purport to regulate the entire industry. 

Zillow Preview is Zillow’s public pre-marketing product. The key differentiator is visibility: A Zillow Preview listing is broadly visible, while a private listing is available only to a limited network. 

A federal judge found that Compass was unlikely to succeed on the merits of its claims regarding Zillow’s Listing Access Standards. Judge Jeannette A. Vargas of the U.S. District Court for the Southern District of New York dismantled Compass’ arguments in a 50-page ruling in February 2026. The presentation of merits was so insufficient, the court found it did not even need to address Compass’ claims of irreparable harm — that is a notably high bar.

Washington state passed SB 6091 nearly unanimously, requiring any publicly marketed home to be visible to all buyers and brokers simultaneously. Wisconsin has also passed listing transparency requirements. Connecticut joined them in May 2026, codifying definitions of “actively marketed” and “multiple listing service” in state statute and requiring any advertisement to include accurate contact information for the owner or their agent. All three laws passed with bipartisan support, meaning legislators across the political spectrum are coming to the same conclusion: If a home is publicly marketed, consumers should not have to rely on private networks to find it.

In May 2026, MRED stopped sending Chicago-area listings to Zillow, at Compass’ direction. Zillow filed a federal antitrust suit alleging MRED and Compass conspired to restrict competition. A federal judge ordered the immediate restoration of the listing feed, finding Zillow was likely to succeed on the merits of its antitrust claims. The litigation record should be understood in plain terms: This dispute affects what real buyers can see and how real sellers reach the market.

Private listing networks do not affect all consumers equally. Buyers and sellers of color face disproportionate harm through direct financial losses and limited access to inventory, according to research from the University of Illinois Chicago and Zillow’s own analyses. NAHREP, NAREB and the NAACP have all publicly stated their opposition to private listing network practices on the grounds of fair housing.