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      "kind": "callout",
      "text": "Very, very difficult to change current industry practice.",
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      "text": "Listing agent is already on Zillow just have to scroll down.",
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      "kind": "callout",
      "text": "Homes.com is also building a listing side business.",
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      "kind": "paragraph",
      "text": "We believe Zillow’s legacy MBP model will not be able to provide the growth necessary to support the Company’s premium valuation, even in a scenario where there is zero impact from the MLS/NAR lawsuits.",
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      "kind": "quote",
      "text": "And actually what you should do now is if you imagine that funnel I just described with those three levers... And that’s been a big focus of the company for the last couple of years.",
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      "text": "\"And actually what you should do now is if you imagine that funnel I just described with those three levers, and now tie that to the conversation we were having about the lawsuits, and this is where I think bulls and bears have different, this is where there's disagreement on the stock, which is to say a bear case is if a consumer when they connect with the premier agent is told by the premier agent, yeah, I'm happy to show you 1, 2, 3 main street that you just pinged me on. But by the way, just so you know, because of this new law change or regulatory change or whatever, you're going to have to pay me directly and it'll be, say 2% of whatever house you buy, this is a $500,000 house, so you're going to pay me $10,000 in closing. Some portion of buyers are going to say thanks, but no thanks and hang up the phone.\" — Former Senior Executive",
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      "text": "Source: Spruce Point interview with former Senior Executive",
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      "text": "Former Zillow Senior Executive Is Negative On The Impacts From The MLS/NAR Lawsuits",
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