Zillow put a toll booth on the American dream

For two decades, Zillow has assembled the pieces of a real estate empire.

It acquired Trulia, StreetEasy, and ShowingTime in a series of deals regulators allowed to proceed. It launched mortgage and closing products. It drew buyers, sellers, agents, brokers, and lenders into the same expanding system.

Zillow calls itself ‘the front door to the housing market.’ Regulators should act before the company installs a turnstile.

This year, Zillow accelerated.

In March, five of the country’s largest brokerages agreed to give Zillow early access to listings without offering rivals the same terms. In May, Zillow sued a major multiple listing service after it lost access to some listings.

Neither move necessarily violates antitrust law by itself. Taken together, however, they show how a company can stop competing within a market