StreetEasy is set to launch a trio of products that the Zillow-owned portal says will capture the highly lucrative seller leads space.
StreetEasy, which operates in New York City, will release a real-time data platform, a concierge service, and a dashboard that tracks sales activity in local neighborhoods.
The concierge service will connect agents with potential sellers, while the dashboard will track data including estimated home values, nearby sales, and estimated closing costs.
The products will be rolled out in February and March 2023.
It's another example of portals trying to take a piece of the transactional pie in a worryingly cool US real estate market. By connecting seller leads—where motivation to sell tends to be higher than with buyer leads—StreetEasy will focus its resources on more efficient, higher value lead generation. A further upside is that one seller lead can branch out into multiple buyer leads
StreetEasy hasn't confirmed how much of a commission it will charge for agents using the seller lead services, but it is likely to be a healthy chunk of the take, with quoted amounts ranging between 20-35%.