Booker, Warren Ask FTC to Probe Online Home-Buying Platforms’ Practices
Sens. Cory Booker (D-NJ) and Elizabeth Warren (D-MA) sent a letter to Federal Trade Commission (FTC) Chair Andrew Ferguson urging the agency to investigate what they call anticompetitive and deceptive practices by dominant online real estate platforms. Booker is Ranking Member of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, and Warren is Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee.
The letter follows an August 24, 2026, stipulated order in which the FTC required Redfin to reenter the online rental market after Zillow paid the company to shut down its rental listing service. The senators want similar scrutiny of the home-buying market. They cite a national median home price of about $434,900, median monthly mortgage payments of $2,199 (nearly 25 percent of median monthly income) and a median first-time buyer age of 40.
The letter names three practices for investigation:
- Undisclosed commission sharing: “contact agent” buttons that can route buyers to platform-affiliated agents who remit part of their commission to the platform without disclosure.
- Steering to affiliated lenders: affiliated agents allegedly required to direct buyers to affiliated lenders with higher rates and worse terms.
- Private listings: brokerages marketing homes only to select buyers, which the senators say restricts available stock.
The letter also cites a study finding that borrowers who shop around for a mortgage saved an average of $80,000 over the life of the loan.
Why it matters
The letter is a request and does not start an investigation by itself. Buyers and agents may want to watch whether the FTC acts on commission-sharing, lender referral and private-listing practices.
Source: Sen. Cory A. Booker (D-NJ), October 15, 2026. Read the original release
