StreetEasy cuts "Days on Market" metric from its listings

March 23, 2020
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New York-based property portal, StreetEasy, original explained that its decision to cut out the "Days on Market" metric for its listings was a "tactic of obscuring, obfuscating or hiding basic facts."

StreetEasy will strike its days-on-market clock from listings, the company told agents. The move comes after previously insisting that doing so would compromise its integrity.

In an email to agents acknowledging the severity of the Coronavirus pandemic, the Zillow-owned portal said it would replace the “Days on Market” field with “Counting Suspended.” It will also temporarily remove open house promotions from listings, search results and customer emails.

StreetEasy cited Gov. Andrew Cuomo’s executive order barring employees of non-essential businesses from reporting to work. At an Albany press conference, he specifically called out real estate agents, instructing them to stop showing apartments as of 8 p.m on Sunday.

StreetEasy said in the email:

“For a relationship-driven industry, we understand this poses new challenges and restricts everyone’s ability to conduct normal face-to-face real estate activities We will revisit our policy and how best to reintroduce accurate Days on Market data once this situation normalizes.”

Recently, the New York Residential Agent Continuum called on StreetEasy to stop the days-on-market counter. The portal kept the metric online at the time, but the Real Estate Board of New York heeded NYRAC’s call.

Read more here

March 23, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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