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  "documentTitle": "Zillow Group, Inc. (Z)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-03-05 00:00:00",
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  "notes": "Uses a quote-based structure to highlight a potential deceptive practice by the company.",
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      "text": "Only Zillow knows which leads are being sent to Flex partners and which leads are being sent to MBP agents. According to a former Flex account executive at Zillow, it appears that Zillow may be playing games to obscure the fact that Flex agents are not paying for MBP leads. Spruce Point believes it is only a matter of time until MBP agents leave the platform in these coexist markets due to lack of transparency and questionable lead quality.",
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      "text": "Spruce Point believes it is only a matter of time until MBP agents leave the platform in these coexist markets due to lack of transparency and questionable lead quality.",
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      "text": "The consumer would never know any different. And like it was always kind of a weird thing were like, if you were the Flex agent in a given market, no one really wanted that word to get out. Like you would still show up in the pricing tool for other agents to see how much you were spending even if you weren't really spending that money because you're getting the Flex leads. So when they switch to Flex, they still left those agents in that tool to continue to drive competition but didn't tell anybody, hey, this guy is actually getting these leads on the Flex program, not on the MBP program. — Former Flex Account Executive At Zillow",
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      "text": "Source: Tegus Interview",
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      "text": "Expert Opinion: Coexist & Flex Leads Vs. MBP Leads",
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