Where Real Estate Gets Its Dirt

Zillow Home Loans Cost Consumers More?

Zillow Home Loans pay more, study suggests

“The 40-page report, titled “Empirical Analysis of Zillow Home Loans Pricing,” was published Dec. 21 by Georgetown University Professor of Economics and Law Emeritus Steven C. Salop. It received funding from CoStar, the parent company of Zillow home search rival Homes.com.

The study, which a Zillow spokesperson said draws “inaccurate and misleading conclusions,” pointed to two class-action lawsuits filed this fall — Taylor v. Zillow and Armstrong v. Zillow — which accuse Zillow of boosting ZHL through illegal kickbacks.”

CoStar hired a consultancy firm to investigate Zillow Home Loans. The consultancy firm hired a professor. The professor publishes a study saying consumers may end up paying more for a Zillow Home Loans over time. The consultancy firm that hired the professor come out saying it disagrees with the professor.

If you’re confused, so am I.

Vendor Alley Funnies

Canary in a coal mine

HouseCanary Ignores Boundaries of IDX with Google Ad Integration

“This distinction matters here. As the industry has already debated with portal-to-AI integrations, a Google search results page is not the broker’s display. It is Google’s display. Sponsored ads amplify this problem because they are explicitly advertising, not informational browsing. When listings appear inside paid Google ads, they are being promoted, targeted, and monetized in a third-party environment that sits outside the IDX framework. IDX consent does not transfer to Google, nor to any advertiser using Google as the distribution channel.”

This isn’t really a HouseCanary story. Like most canaries in coal mines, it’s another warning sign.

I’ve started and restarted a post about the recent news of HouseCanary’s Google ad integration, but I don’t think I can add much beyond Victor’s response above. He lays out the issue clearly and directly.

This type of controversy isn’t new territory for HouseCanary. If this all feels familiar, it should. Remember their dust-up back in 2019?

I’ve spoken with a few MLS organizations that were contacted by HouseCanary about this new integration, and my understanding is that at least one MLS explicitly told them they did not approve of the implementation. That detail matters.

But as Victor points out, this is also another signal that IDX policy itself is aging poorly. As MLSs move toward a more decentralized, “every MLS for itself” rule-making environment, the inconsistencies and edge cases are only going to multiply. What’s allowed in one market may be off-limits in the next, and vendors will keep testing those seams.

Vendor Alley Funnies

Advertise on Vendor Alley! Download 2026 Rate Card.

Month-long sponsorships for 2026 are now available for Vendor Alley.

First come. First Serve. We sold out in 2025.

This year I will be extending my offer of doing a podcast recording on my popular Listing Bits podcast, as part of your sponsorship. It’s a great way to get your message out in an audio format. Perfect if you releasing a new product or making a big announcement.  The podcast episode will also be promoted on Vendor Alley.

Download the 2026 Rate Card here.

Promote your product or service specifically to Vendor Alley’s audience of real estate insiders, geeks, vendors, MLS peeps, association staff, brokers, and franchisor heavies.  If you want your message to reach the top decision-makers, influencers, and connoisseurs of fine satire in Organized Real Estate (ORE) you’ll get it at Vendor Alley.

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Jan   2026 – Sold!

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PRICE: $6,000 per month-Includes featured interview on my Listing Bits podcast.  
To reserve your space or find out more please email me at: gregrobertson@gmail.com

For more information check out out our VA Sponsorship Page

Board of directors announced for CMLS

CMLS Announces 2026 Board of Directors

2026 Board of Directors

Chair: Nicole Jensen, CEO, realMLS
Past Chair: John DiMichele, CEO, Toronto Regional Real Estate Board and PropTx Innovations Inc.
Vice Chair: Justin Haag, CEO, Northwest MLS
Secretary/Treasurer: Jeff Bosch, CEO, IRES LLC

Brad Bjelke, CEO, UtahRealEstate.com
Chris Carrillo, CEO, North Texas Real Estate Information Systems, Inc.
Art Carter, CEO, California Regional MLS
Matt Consalvo, CEO, Arizona Regional MLS
Shayne Fairley, COO, Stellar MLS
Richard Haggerty, CEO, OneKey® MLS
Chris Haran, Managing Director and CTO, MRED
Jerry Legrand, CTO, APEX MLS
Shelley Specchio, CEO, MIBOR Broker Listing Cooperative
Rob Wagoner, Senior VP & MLS Director, Heartland Multiple Listing Service”

Congrats to all!

Vendor Alley 2025 Holiday Gift Guide

It’s that time of year again, and normally I’d give you a whole list of gifts guaranteed to put a smile on anyone’s face.

But this year I have only one recommendation.

Time.

And the way you gift yourself time is simple, hire an assistant.

After selling W+R Studios and starting Giant Steps Advisors, I knew I still wanted to contribute to the industry by doing “meaningful work.” I’m still sorting out exactly what “meaningful” means, but I knew I had a lot I wanted to build and explore. What I didn’t have was the bandwidth to do it all alone.

I first heard about Athena on a podcast. They pitch themselves as a service where you can hire elite assistants.

Some of you already have executive assistants and know how truly impactful they are for your time and productivity. I’d never had one, and honestly, the idea of hiring one felt a little pretentious. That was something I had to get over…and I’m glad I did.

The magic with Athena is you can get an incredible executive assistant for $3,000 a month.

If you want a deeper look, check out a recent episode of the a16z Podcast where they interview Jonathan Swanson, Athena’s founder. The host, a16z General Partner Erik Torenberg, uses an Athena assistant himself. My thinking was pretty simple: if it’s good enough for a GP at one of the best VC firms on the planet, it’s probably good enough for me.

My assistant’s name is Tabby, and she’s had a huge impact on my life this past year. Now, like any new hire, you need to ramp them up. Tabby didn’t instantly know my business, my industry, or my preferences. And if you’ve never had an assistant, you’re also going to have to learn how to delegate effectively. I’m still learning, and Athena has tools to help both of us get better.

Here’s a link if you want to give them a try. I think you get a pretty good discount.

Happy Holidays everyone!

2026 RESO Board of Directors

2026 RESO Board of Directors Announced

“The campaign for technology company seats was particularly competitive this year,” said Rebecca Jensen, RESO Board Chair and President/CEO of Midwest Real Estate Data (MRED). “Innovation is at the core of creating data standards, and we are thrilled by our tech community’s willingness to lead the organization forward with the MLS, association and brokerage industries.”

Congrats to everyone. For the full list click here.

Real estate AI search, “actually useful”

I’m obsessed with Redfin’s AI search

“For all the questionable-at-best ways AI is being bolted onto things these days, AI search on a real estate website strikes me as actually useful. I realized that over my many years of searches — both when I was actively looking to buy a home and as a leisure activity — I’ve gotten really good at navigating the likes of Zillow and Redfin. This, I assure you, is a skill that comes with extremely limited benefits, and I probably could have spent that time doing something more useful, like reading a goddamn book, but here I am. With natural language search, you don’t need to spend hours tinkering with filters and keywords like I have; the AI just does all that administrative stuff for you.”

Interesting perspective on AI and Real Estate. Sadly, the article is being the Verge’s paywall.

VestaPlus [Sponsor]

My thanks to VestaPlus™ for sponsoring Vendor Alley this month.

VestaPlus is a premier MLS technology provider dedicated to delivering innovative, intuitive solutions that empower real estate professionals and streamline MLS operations. Its comprehensive suite of products — including VestaPlus™ MLS, ShowingPlus™, SearchPlus™, MarketSnap™, and CheckMate™ 

Speaking of CheckMate, they have been on a roll lately. The system has been licensed by several major MLSs and REALTOR® associations, including MIAMI REALTORS®, BeachesMLS, Arizona Regional Multiple Listing Service (ARMLS®), Oregon Data Share, and the Central Panhandle Association of REALTORS® (CPAR). Read full press release here.

That’s pretty impressive and makes CheckMate one of the most successful MLS led technology solutions.

My thanks again to them for sponsoring Vendor Alley.

Sponsored By ICE