As many of you are aware, last week the Zillow Group announced that it plans to acquire Chicago-based ShowingTime. Zillow’s potential acquisition of ShowingTime may have a significant impact on the real estate industry. We recognize that our members have a variety of views on this potential transaction.
Regardless of one’s opinion on this news, it is important that members remember a few principles that should guide us as we move forward.
First, Zillow is a REALTOR® member. Our Code of Ethics governs a broker’s duties to other REALTOR® members and how we communicate with the public related to other real estate professions and professionals. It is very important that members do not disregard the Code of Ethics when discussing the potential ShowingTime acquisition with other real estate professionals and the public.
Second, real estate professionals must comply with all applicable state and federal anti-trust laws. Members should be careful before making any statements or taking actions that could interfere with competition or an entity’s right to conduct business in a free and open marketplace. As we all know, the federal government has been scrutinizing the real estate industry. We urge all to be careful and deliberate in their statements and actions.
Third, the Chicago Association of REALTORS® is committed to being at the cutting edge of all industry developments and working with our members to understand and prepare for such developments. We will continue to update our educational programming and provide information to our members to keep them well-positioned in our ever-evolving profession.
Please do not hesitate to contact us if you have any questions or to share your ideas on how the Chicago Association of REALTORS® can best continue to support its members through industry changes.
Nykea Pippion McGriff
Michelle Mills Clement