Why Are Listings Disappearing From StreetEasy?

If it feels like there is less to look at on StreetEasy, a corporate battle between 2 of the biggest names in real estate is the reason. According to The Real Deal, executives at Compass, the brokerage giant that also owns Corcoran and Sotheby's International Realty, advised roughly 400 top New York City agents to temporarily remove their listings from StreetEasy beginning in August.

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Who is pulling listings off StreetEasy, and how many have disappeared?

According to The Real Deal, Compass advised roughly 400 top NYC agents to temporarily remove their listings beginning in August, as part of what the company calls its Fall Marketing Playbook. Manhattan listings on StreetEasy fell about 7 percent in the first week of August and roughly 11 percent by the second week, far above the typical seasonal decline.

What is the fight between Compass and Zillow about?

It is a fight over who controls and monetizes home listings. Compass has built much of its strategy around Private Exclusive and Coming Soon listings, which are kept off public portals at first. Zillow, which owns StreetEasy, adopted a policy banning privately marketed listings from ever appearing on its platform, arguing that maximum exposure serves sellers best.

What did the court decide?

Compass sued Zillow, alleging anticompetitive behavior. A federal judge sided with Zillow on the core question and found that Zillow does not hold monopoly power over home search. Compass argues in turn that the portals profit off agents' listings and sell them back as leads, and that argument has not been resolved by that ruling.

What does this mean for buyers?

StreetEasy may no longer show every available home. Some listings are held on broker-only networks such as REBNY's Participants-Only service or on brokerage websites, so a buyer who relies on one portal can miss homes. Searching more than 1 source, and working with an agent who has access to those networks, reduces that risk.

What does this mean for sellers?

The pitch that limiting exposure benefits you deserves real scrutiny. For most sellers, broad exposure and more potential buyers is what drives competition and price. Supporters of private marketing argue it gives sellers control over how and when a home is shown, so the right question for any agent is where your listing will be marketed, and why.

How does this affect Staten Island and Brooklyn?

The 7 and 11 percent drops reported by The Real Deal describe Manhattan, so the effect in Staten Island and Brooklyn may differ. The same questions still apply in both boroughs: ask your agent where a listing will appear, and when buying, check more than 1 source. The priority for any agent should be selling the home for the most money, to the right buyer, as smoothly as possible.

Questions about how this affects your home in Staten Island or Brooklyn? Work with Joseph Ranola, or text or call (917) 905-2541. New episodes of Daily Tesla News break down the NYC real estate stories that move the market.