StreetEasy has enacted new policies prohibiting New York City agents from using its tools if they are publicly marketing listings to select consumers. Under this policy, agents must submit listings to StreetEasy within 24 hours of any public marketing efforts, such as email blasts or social media posts. StreetEasy believes hidden listings disrupt the real estate market. This approach aligns with Zillow's recently announced rules and may significantly impact brokers like Compass, which heavily rely on private listings to gain market advantages.
Hidden listings harm buyers, sellers, agents, and the real estate ecosystem. It's not right, and it's not what consumers want, Burton said in a statement.
Agents cannot do their best work when they are unable to compete freely and fairly. They should earn business based on the value they offer, not because they are members of a private listing club.
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