The StreetEasy Update is a new channel for Susan Daimler, General Manager of StreetEasy, to communicate directly with you — our agent, brokerage and industry partners — about what’s going on at StreetEasy.

Over the past week, there’s been a lot of false information circulating. We’ve received questions about the Premier Agent program as it pertains to advertising regulations the New York Department of State is currently reviewing. It’s important to set the record straight:

  • The Premier Agent advertising program is legal. That was never a concern or part of discussions with the NY Department of State.
  • The NY DoS is reviewing real estate advertising rules covered in Regulation 175.25 as they apply to the entire state of NY. This review (and any forthcoming guidance) is not specific to Premier Agent.
  • Among the rules under review are where a broker’s license type is displayed, display of brokerage names, and where certain disclaimer information is linked, for example.
  • NY DoS has publicly confirmed they are reviewing the rules covered in 175.25, but that’s it. No official opinion or decision has been issued.
  • A broader summary of the issue is covered in this Inman News story (login required).

The NY DoS is reviewing the application of NY real estate advertising rules (Regulation 175.25) to clarify aspects of online advertising (paid and unpaid) across the industry and the entire State of New York. Included within the rules being reviewed are where a broker’s license type is displayed and where links to certain disclaimer information should be, for example. This may impact IDX websites, VOWs, brokerage websites and real estate portals.

In the 14 months since Premier Agent has launched on StreetEasy, we’ve helped thousands of you offer buyers your guidance and expertise navigating the New York City real estate market. Statewide, the numbers are even bigger since Premier Agent launched on Zillow and Trulia in the rest of New York State almost ten years ago.

We often engage with government to provide insights and research on real estate related topics, and because of the importance of this issue, we have been highly engaged with the NY DoS. If and when an updated interpretation of these guidelines is provided, it will be our top priority to help agents gain a clear understanding of what the specific guidelines are, and how they might apply to real estate licensees who utilize our platforms. You can be assured that whatever the guidelines, we will continue to be a key tool in helping agents, buyers and sellers connect.

If you have any questions, please feel free to email your Premier Agent business consultant or write in to agentsuccess@streeteasy.com.

– Susan