Jeremy Wacksman

are pretty consumer friendly because they want to support broad membership.

Their interests are, how can we have more members?

How can we have more folks come and use our service?

So there are some that are more industry focused and we would actually take issue with some of their rules.

And we do, and we're allowed when we think they have anti-consumer rules.

But I guess to answer your question, on balance,

The idea of not having a shared cooperative database and we go sign up and get all the listings, which by the way, we did before all this.

Like we did not get our listings from the MLS until six or seven years ago.

We still had most all the listings on Zillow because people want to put their listings on Zillow.

It was just way less efficient to get it that way.

You're talking about tens and thousands of feeds and relationships and changes and all the things.

So on balance, the idea that the database is coordinated and broadly available

is 80, 90% good, and there's 10, 20% friction and rules that we don't love, that we work hard to lobby and advocate and change for.

Yeah, I mean, I don't have the history perfect, but the internet broadly, I think, helped them evolve that way.

There's a standard that they created that I'm sure if we go back to when Zillow was founded, it wasn't available, where

brokerages, the real estate industry, the MLSs could make available a feed for any internet site or any internet brokerage-based site to display.

That came about as the internet was coming, as sites like Zillow were coming.

So they reacted to that, I think, again, in a pro-competitive and pro-consumer way.

It probably happened

over the last 10, 15 years.