Setting aside the ongoing legal battle they’re in, Zillow Group (Z) appears to have strengthened its already dominant position as they move ahead in a critical growth year. Over at SeekingAlpha, Richard Frascona asks if they can keep their crown.

Notwithstanding their current frustration arising from Listing data and the feuding with Move, Inc., Zillow has demonstrated that access to MLS data is not going to be a retardant to the next chapter of their growth.

The real danger to Zillow's vision for building on their current success revolves around threats to their web traffic. A recent downgrade by Barclays cites "slowing web traffic growth" as the biggest long-term concern for Zillow. These concerns are well founded and warrant further examination.

Understanding the constant dissatisfaction felt by the real estate broker community, Zillow's biggest source of revenue, is necessary to appreciate much of the threat to Zillow's web traffic growth. One does not have to look far to find frustrated agents and brokers venting their malice toward Zillow's business model.

Read the whole piece here.