49. Chicago Blackout, Zillow Fight, and Real Estate Fraud

Pat and Andres open with book-field nostalgia, summer sales stories, and a couple of Hot Finds before jumping into a packed episode that hits close to home. First, they unpack a real estate fraud case out of Portland involving fake investment promises, investor losses, and a very ugly ending. Then they revisit the off-market debate as new data claims sellers lose money in dual-agency and private-network deals. Finally, they dig into the big one: why Chicagoland listings briefly disappeared from Zillow, what MRED, Compass, and Zillow are actually fighting over, and why this industry battle could change how buyers and sellers access inventory.Hot Finds – [00:10:57]Pat’s pick: Spindrift Iced Tea Lemonade, a new flavor discovery from Nashville that actually works.Andres’ pick: Welcome to Wrexham, a funny, surprisingly emotional docuseries that gives real depth to the team, the town, and the business of lower-league soccer.Rip From the Headlines – [00:23:17]Portland fraud case: two real estate investment operators were sentenced after a $17 million scheme involving fake returns, new investor money, and commercial loan fraud.New Zillow analysis says sellers lost billions in dual-agency and off-market deals, which sparks a bigger conversation about convenience versus top-dollar strategy.The real showdown: Zillow, MRED, and Compass are now in a full-on fight over private listings, hidden inventory, and who gets access to Chicagoland properties.Main Topic – [00:49:13]Pat breaks down how Chicago-area listings got blocked from appearing on Zillow and why that move sent shockwaves through the local market.The bigger issue is whether private listing networks help sellers with flexibility or let giant brokerages hoard inventory and create an unfair advantage.Pat’s takeaway: if private listings stay, they need to be shared broadly across brokerages. Otherwise, the cleaner answer may be to scrap the system entirely.Closing tag:Have questions for us? Submit them here: [email protected]