After announcing an agreement to acquire the nation’s most popular showing software ShowingTime in February 2021, Zillow Group closed the acquisition formally on October 1. A review by the U.S. Federal Trade Commission delayed the closing. While the transaction has closed, however, an FTC review remains active. As we discussed in the Opendoor-related summary above, industry participants are beginning to grow and operate in new and different ways, including Zillow Group. With its ShowingTime acquisition, the company now owns the industry’s most used showing app, which many MLSs use exclusively; it also has launched brokerage services to power its Zillow Offers program, provides digital transaction management services through its dotloop subsidiary, and owns the nation’s largest real estate portal in Zillow. The industry is embarking on a new era, with companies operating in new ways.