StreetEasy's New Ordinance: Pros and Cons

NYC’s Zillow-owned StreetEasy announced a new rule for agents and the consensus isn’t particularly positive. Now, agents utilizing StreetEasy must post listings within 24-hours or risk losing access to the site. A bold move by the startup but one that it’s sticking to. 

Here are the highlights concerning the 24-hour listing regulation:

Arguments Against

Timeline restrictions aren’t exactly inviting to anyone, let alone agents. The pushback has come swiftly following the Monday announcement. 

One agency CEO called the move ‘reprehensible’ and described it as a ‘strong-arm tactic.’ In fact, many agent brokers are saying this is nothing but a way for the company to further control listings within the city. 

StreetEasy’s Side of the Story

A letter from the company explained the move as a way to offer its consumers with the most up-to-date listings available, further showing the company’s integrity within the sector. 

“If agents do not respond, we may revoke their access to Agent Tools and potentially other StreetEasy programs until the issue is resolved.”

StreetEasy argues that agents have a choice in where they post their listings and will not be punished for not posting with StreetEasy, but that the goal is for quick posts that lead to offering consumers a full and timely view of the market at all times.