Without MLS feeds, Zillow’s data will be inferior in a number of ways, under the current residential real estate sales paradigm, one at which MLS is the hub for listing data and the “First Point of Entry” in local markets.

Also, there are lots of ways to get listing data, some ways more expensive than others. The cheapest way is from MLS. ZT’s success in obtaining direct feeds from MLSs in the past has not been stellar. I did not say that this would put Zillow out of business, just that it is a blow. They will spend more money on data aggregation. Zillow knew about the Point2 acquisition by Listhub, and have always been working on alternative data sources. At this point, the gravy train is over. You have to pay for the data one way or another. This creates an opportunity, If other forces come to fruition, the size of the blow will be minor, or significant.