And on the seventh day, the Corcoran Group and StreetEasy made peace.

Agents at Corcoran, Citi Habitats and Sotheby's won't pay to post listings

New York /
Sep.September 06, 2017 09:02 AM

Following weeks of fighting between StreetEasy and many of the city’s top brokerages, Realogy — parent company to Corcoran Group, Citi Habitats and Sotheby’s International Realty — inked a “long-term, multi-year” deal with StreetEasy’s parent firm Zillow, The Real Deal has learned.

The move, which deals a blow to the uneasy alliance of New York City firms trying to assert control over their listings, allows agents at those three companies to post rental and sales listings on StreetEasy at no cost to the agents, Corcoran CEO Pam Liebman told agents in an email.

“Our primary concern has always been to make sure that our customers receive the best possible service in the industry, and that you get the same from us,” Liebman said in the email. “We of course will still support the RLS feed and will continue to send our listings through the RLS to the hundreds of aggregation sites that have signed on to it.”

In a statement, StreetEasy confirmed a deal with the three firms “now and for years to come.”

“We are incredibly happy to strengthen our relationship with some of the city’s most influential real estate firms who are making their landlords and sellers their number one priority,” Susan Daimler, StreetEasy’s general manager, said.

But in brokering a deal with StreetEasy, sources said Corcoran and Realogy had dealt a “big blow” to firms that hoped to break the website’s grip on New York City listings by sending sales and rental feeds exclusively to the Real Estate Board of New York’s residential listings service (RLS). StreetEasy has refused to accept the REBNY’s syndicated RLS feed, arguing publicly that the data would be tainted for customers.

“She got everyone to go get their bathing suits on, and when it was time to jump in, she never did,” groused one brokerage source.

To date, a total of 11 firms have stopped — or said they will stop — their automatic feeds to StreetEasy. They include Halstead Property, Brown Harris Stevens, Town Residential, Compass, Stribling & Associates, Warburg Realty, Fox Residential, Kleier Residential, Leslie J. Garfield, Bond New York and Tungsten. Individual agents at those firms can choose to update their own listings — and many are doing so, as TRD has reported.

Early on, Liebman expressed displeasure with StreetEasy charging agents $3 a day per rental listing: “I think that it’s not a good move,” she told TRD in July.

On Wednesday, she cited the needs of agents as a key driver behind the deal. “I’m confident that this agreement and direction is in the very best interest of our clients and our agents,” she said.

She got everyone to go get their bathing suits on, and when it was time to jump in, she never did.

However, critics said the firm’s latest move was similar to its response to StreetEasy’s Premier Agent program, which lets agents purchase buyer leads in certain zip codes: Initially, the firm blasted the advertising program, but ultimately, it signed onto Premier Broker, a version of the program that allows firms to purchase leads in bulk. (So did rival Douglas Elliman.)

As for the new rental fee, Corcoran and Elliman took different approaches until now. Following the launch of StreetEasy’s $3 per day fee on July 18, Elliman said it would cover those costs for agents through the agent advertising budgets. Corcoran (and Citi Habitats) stopped sending rental listings to StreetEasy in protest, though individual agents were able to send listings to the site.

Over the past few weeks, StreetEasy has aggressively courted agents whose firms won’t feed listings to the site, urging them to post listings themselves. As of late August, nearly a third of sales listings from four major firms — BHS, Town, Compass and Stribling — were manually updated while two-thirds of rental listings were updated, StreetEasy said. As of Tuesday night, StreetEasy had a total of 11,760 sales listings and 17,367 rental listings.


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
49 East 10th Street and Barbara Corcoran (Credit: Google Maps and Getty Images)
Corcoran to shut down office in building partly owned by Barbara Corcoran
Corcoran to shut down office in building partly owned by Barbara Corcoran
Sara Gore (right) and Ryan Serhant (Getty)
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
From left: Mathew Chapman, Michele Kowal, Maryanne Elsaesser and Rhonda Battifarano (NJ Home Navigators)
Christie’s NJ affiliate claims “big win” in agent-poaching dispute with Compass
Christie’s NJ affiliate claims “big win” in agent-poaching dispute with Compass
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
(Getty)
Housing rush: In-person school adds fire to rapidly heating market
Housing rush: In-person school adds fire to rapidly heating market
Ahmass Fakahany and the Police Building at 240 Centre Street (Douglas Elliman, Altamarea Group)
Domed Police Building penthouse finally sells after massive price cut
Domed Police Building penthouse finally sells after massive price cut
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...