Key facts
- StreetEasy introduced a participation cap for its Experts program, pausing new additions from companies representing 20% or more of the program's agents.
- Compass International Holdings is currently the only company exceeding the 20% threshold.
- Success fees for properties priced at $249,000 and below have been reduced to 15% from 25%.
- Success fees for properties sold between $250,000 and $399,999 have been reduced to 20% from 25%.
- No existing Experts will lose their spot in the program.
- Compass previously withdrew its listings from StreetEasy in early August.
StreetEasy has implemented changes to its Experts lead generation program, including a "participation cap" and revised success fees. The participation cap will pause new agent additions from any company that represents 20% or more of the program's agents until they fall below that threshold. A StreetEasy spokesperson confirmed to HousingWire that Compass International Holdings is currently the only company exceeding this limit, though the rule applies to all firms equally. The spokesperson also stated that no current Experts will be removed from the program and that a waitlist for Compass agents exists.
In addition to the cap, StreetEasy has lowered its success fees for agents who close leads from the platform. For properties priced at $249,000 and below, the fee is now 15%, down from 25%. For properties sold between $250,000 and $399,999, the fee is now 20%, also down from 25%. These adjustments are intended to ensure strong agent representation across all price points and make the program more valuable for everyone involved.
These changes follow Compass's decision in early August to pull its listings from StreetEasy, which a Compass spokesperson described as a "common marketing strategy" to manage listings during the slower summer month. Compass did not immediately respond to HousingWire's request for comment on the new StreetEasy policies.