Zillow is partnering with once-rival Opendoor in a multi-year deal, the company announced in a press release. Home sellers using Zillow will be able to request an Opendoor offer to sell their home while on the platform. Customers will be able to use it by itself or package it with other Zillow services such as financing, closing, and agent selection. Zillow will get a referral fee when a customer accepts an offer from Opendoor. “Zillow is the most visited brand in online real estate. As we bring the housing super app to life, we’re empowering our millions of visitors to understand all their options and transact in the way that best meets their housing needs,” said Zillow Chief Operating Officer,…
Zillow and some of its top executives are being sued for allegedly making misleading claims in advance of the closure of its iBuying arm, Zillow Offers. Zillow shareholder Dibikar Barua filed a class-action lawsuit against the company in federal court in Seattle alleging that Zillow failed to tell shareholders it was struggling to accurately predict home prices. “Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects,” the suit reads. It claims that Zillow did not disclose the “significant unpredictability in forecasting home prices” the company was struggling to overcome or its inventory backlog, both of which would have signaled to investors that…
