StreetEasy Experts Program Performance Standards

Objectives of Our Program Performance Standards

These Standards describe the onboarding process, clarify the performance and reporting requirements, and establish general guidelines and policies. Capitalized terms without a definition will have the same meanings as provided in the applicable agreement signed by Agent or Broker.

What Is StreetEasy Experts?

The StreetEasy Experts Program (the “Program”) is an advertising program offered by Zillow’s NYC brand, StreetEasy, that provides an avenue for experienced agents to connect with NYC buyers and sellers (“StreetEasy Connections”) at no upfront cost. The Program is designed to ensure StreetEasy only succeeds when agents succeed: agents do not pay upfront to be featured as StreetEasy Experts, however, if a StreetEasy Connection results in a transaction, StreetEasy will collect a success fee when the deal closes.¹

The goal of the Program is to connect buyers and sellers with relevant and experienced agents who deliver a high level of service. To improve the customer experience and promote successful transactions, StreetEasy displays the best fit StreetEasy Expert on relevant listing and building pages across StreetEasy, based on factors such as deal history and conversion.

Streeteasy also facilitates Streeteasy Connections via the Streeteasy Concierge, a team of licensed real estate professionals who help buyers and sellers better understand the NYC real estate market and their next steps by offering to connect them with a StreetEasy Expert or guiding them to StreetEasy resources.

As part of our mission to be the most trusted and comprehensive NYC real estate marketplace, StreetEasy is focused on working with the best real estate professionals in the NYC market. Providing StreetEasy Connections at no upfront cost to service-oriented professionals with hyper-local expertise increases the likelihood that NYC buyers and sellers have a great experience each time they connect with an agent on StreetEasy.

General Policies

• StreetEasy reserves the right to discontinue offering the Program to any agent, at its sole discretion and based on all policies highlighted herein
• Agents shall comply with all established Zillow and StreetEasy policies, including the Advertising Terms of Service and Code of Conduct therein, Terms of Use, Privacy Policy, Advertising Content and Image Guidelines, StreetEasy Listing Quality Policy, and Good Neighbor Policy. For clarity, the terms of the Experts agreement in place between Zillow and agent or broker will govern in the event of a conflict between such agreement and any of the terms included herein. Streeteasy reserves the right to remove you from the platform for any violation of these policies, in its discretion.

Program Eligibility

Access to the Program is provided on an invite-only basis. StreetEasy will determine (in its sole discretion) whether you qualify for the Program. StreetEasy considers new applications based on the following factors:

1. Deal History: Closed sales deal history over the last 10 years included in your StreetEasy account
2. Program Constraints: We want to be sure that participants have a positive experience and can be successful with the help of a dedicated Business Advisor. Due to the high demand for the program, we maintain an onboarding waitlist
3. Team Status: Agents on a team that is already participating in the Program will go through a different onboarding process than individual agents

Claiming Deals

Transactions can only be claimed by a licensed real estate agent (“Agent”) who actively represents the buyer/seller. Claimed transactions will be added to the Agent’s StreetEasy account to be considered for Experts program eligibility.

• Transactions can be claimed by members of a team if they also collected a commission on the transaction.
• If you are a named party on a listing and that listing closes, you will be given credit for participating in the transaction. StreetEasy will not retroactively add or remove any party from a past sell-side listing or closing record. If a Team Lead wishes to not credit a Team Member for taking part in the deal, the onus is on the Team Lead to update the listing agents that should receive credit prior to making the final status update on closed listings.
• StreetEasy reserves the right to investigate reports of inaccurate claims and request documentation to confirm involvement in the claimed transaction. Repeated activity of falsely claimed transactions may result in termination of participation in StreetEasy marketing programs and services, including the StreetEasy Experts program.

Onboarding

If your application to the Program is accepted, follow these steps to complete onboarding:

• Electronically sign and return your StreetEasy Experts Agreement
• Download the StreetEasy Agent Tools app for Apple® or Android® (the “Partner App”). Participants will primarily use the Partner App to update the status of your StreetEasy Connections
• Claim your sales deals that are missing from the last 10 years to maximize your eligibility and reach
• To activate your StreetEasy Experts account, an onboarding session with your assigned Business Advisor or Team Lead is required

Segments

StreetEasy may feature you as a StreetEasy Expert in any Experts Campaign in which StreetEasy determines you qualify. You have the ability to opt-out of an Experts Campaign for any reason, on the StreetEasy website or by contacting experts@streeteasy.com. Requirements to participate in the Program, or to qualify for individual Experts Campaigns, are subject to each segment’s respective terms and conditions and subject to change in Streeteasy’s discretion.

Experts Campaign types include the following, but are subject to change:

• Vertical Living: Experts opt into buildings and are matched with buyers who’ve shown interest in that building, or a listing within the building. Properties can be condo, co-op, condop, hybrid, or mixed-use buildings containing at least four residential units.
• Like Listings: Experts opt into neighborhoods and are matched with buyers who’ve shown interest in listings within those neighborhoods.
• Townhouse Experts: Experts are matched with buyers seeking townhouses. “Townhouse” properties must be one-, two-, or three-family homes.
• Listing Agent Match: Sellers who’ve claimed their home using our seller tools are matched with Experts who’ve sold similar listings.
• Experts Launch: Experts are matched with buyers at entry-level price points.

For clarity, if you connect with a potential client after being advertised to such potential client or an attached party (co-shopper) via any Experts Campaign, such potential client shall be considered a StreetEasy Connection.

Performance & Continued Participation

Every agent in the Program must meet StreetEasy’s high engagement and performance standards across the connection pipeline, from initial messages to closed deals. This section outlines the ways in which StreetEasy assesses program performance and the ways in which access can be lost and gained:

Business Advisor Partnership

• • Performance Conversations: You are expected to meet with your Business Advisor regularly to review your process, pipeline, and best practices, to improve your performance and build a pipeline of active clients.
  • Performance Tools: Your StreetEasy Connection volume and standing in the Program will depend on you providing a high level of customer service and your sales deal conversion rate, relative to other agents participating in the Program. In addition to your designated Business Advisor providing feedback on your performance, you can access performance data in your Experts Performance Dashboard.

Quarterly Performance Review

• • Performance: You must show the ability to help StreetEasy buyers and sellers close on their home by converting Connections you receive through the program. Agents with low performance scores may be suspended from the Program.
  • Behavior: You must follow all Zillow and StreetEasy policies, including the StreetEasy Good Neighbor Policy, Code of Conduct, and these Performance Standards. Agents shown to be in violation of any of these policies may be suspended from the Program.
  • Activity/Engagement: You must show a minimum level of engagement with the program each quarter. Agents who do not receive an adequate number of Connections and/or do not engage with their Business Advisor may be put on hold from the Program.

Compliance Disengagement and Reactivation Process

• • StreetEasy Admin Communication: While participating in the Program, you will be expected to respond promptly to StreetEasy communications from our Transaction, Compliance, and Support teams. Failure to respond to a communication that requires action may impact your status in the Program. Below is a breakdown of how StreetEasy manages StreetEasy Admin communication warnings, disengagement, and reactivations:

• • • 1st Communication: StreetEasy will send a notice that an action is required.
    • 7 Days With No Action: StreetEasy will send an additional notice and warn of a Connection pause if no action is taken.
    • 14 Days With No Action: StreetEasy will remove you from the Program.
    • Reactivation: Once action is taken, access to the Program may be restored. Participation in the Program will be evaluated during the quarterly review period and StreetEasy will take into consideration all performance metrics.

• • Payment-Related: As outlined in the Payment Expectations section, the Program has net 15 terms. Failure to comply with these terms may result in removal from the Program and, in some cases, removal from StreetEasy Agent Tools. Below is a breakdown of how StreetEasy manages Payment Related warnings, disengagement, and reactivations:

• • • 15 Days Past Due: StreetEasy will send a notice that the payment is past due. Notice will be sent to the Agent and Brokerage finance teams.
    • 30 Days Past Due: StreetEasy will pause Connections for the agent associated with the past due invoice. Additionally, StreetEasy sends notice that Agent Tools is at risk of being revoked. Notice will be sent to the Agent and Brokerage finance teams.
    • 60 Days Past Due: StreetEasy will revoke Agent Tools access from the Agent associated with the past due invoice. Notice will be sent to the Agent and Brokerage finance teams.
    • Reactivation: Once payment is received, Agent Tools access may be restored. Participation in the Program will be evaluated during the quarterly review period and StreetEasy will take into consideration all performance metrics.

• • Connection-Related: If you are contacted to update a StreetEasy Connection status, you must address the request. Below is a breakdown of how StreetEasy manages connection-related warnings, disengagement, and reactivations.

• • • 1st Communication: StreetEasy will send a notice that a StreetEasy Connection requires action.
    • 7 Days With No Action: StreetEasy will pause new StreetEasy Connections from being delivered.
    • 14 Days With No Action: StreetEasy will suspend you from the Program.
    • Reactivation: Once action is taken, access to the Program may be restored. Participation in the Program will be evaluated during the quarterly review period and StreetEasy will take into consideration all performance metrics.

Program Expectations

In addition to the obligations outlined in your agreement with Zillow, to remain eligible to receive StreetEasy Connections, you must abide by the following terms and conditions.

Connection Responses and Sharing

• Respond to all StreetEasy Connections directly and as soon as possible but in no event more than 24 hours, otherwise you may risk decreased Connections or potential removal from the program.
• Connections may be passed to a different agent and removed from your account if you do not respond within the timeframe stated when you receive the Connection. By participating in Experts, you expressly acknowledge that failure to meet the requirements herein may result in a lead being passed to another agent.
• Perform real estate services in a timely, diligent, and professional manner, consistent with industry standards, the terms of your Experts agreement, and all Zillow policies including the Zillow Terms of Use and Code of Conduct
• The agent advertised as a StreetEasy Expert must be the same agent to respond to inquiries from StreetEasy Connections to that StreetEasy Expert. The only exception is: if an agent is part of a team advertising in the Program (Team Expectations detailed below), and the connection has been reassigned within a team, the agent responding must clearly reference the Team Lead and full name of the team they represent when responding to inquiries from StreetEasy Connections.
  • Agents who share StreetEasy Connections not from a registered Experts Team Lead to a Team Member violate the Program policy and are subject to removal from the Program and removal of StreetEasy Agent Tools.
• Agents may not share StreetEasy Connections with any third party, including other listing portals, for the purpose of generating a referral, a fee, or other commercial benefit outside of this Program.

Reporting

• Connections:

• • Provide at minimum weekly updates on the status of StreetEasy Connections by signing in to StreetEasy.com > Experts > Connections or using the Partner App
  • Update your Broker and StreetEasy within 24 hours each time a StreetEasy Connection: enters an exclusive listing agreement with you, accepts an offer, enters into a contract, sets a closing date, or closes a transaction
  • Communicate with consumers, agent colleagues, and StreetEasy staff with respect and professionalism at all times

• Transactions:

• • Within 24 hours of a deal going into Contract, you will update the connection status to ‘In Contract’ and click Create Transaction to add the details. Doing so will initiate communications from our Transactions team where we will request the following information:
    • Send a copy of the executed contract and commission invoice or deal sheet to: streeteasyexperts@streeteasy.com
    • Upon request, provide additional documents supporting the commission due to you
  • The expectation is that you will keep the transaction closing date accurate. Doing so will help our Transactions team communicate with you at the appropriate time.
  • Upon Streeteasy’s request, Agent will provide Streeteasy with documents supporting the commission Agent was due to receive for any transaction with a Streeteasy Connection.
  • For the avoidance of doubt, StreetEasy reserves the right to recoup a success fee from completed transactions resulting from any StreetEasy Connection provided to an Expert (including via the Concierge), regardless of the agent’s Experts status as long as the agent has a signed contract active upon receipt of the Connection.

• Brokerage Affiliation Changes:

• • Individual Agent:
    • Notify StreetEasy at experts@streeteasy.com if your brokerage affiliation changes. The StreetEasy Support team will take the following actions:
      • Update StreetEasy account affiliation
      • Determine if a new contract can be issued for the Program
      • Determine if any StreetEasy Connections need to be reassigned
      • Determine which brokerage is responsible for applicable success fee payments

• • Team Members:
    • Notify StreetEasy at experts@streeteasy.com if your brokerage affiliation changes. The StreetEasy Support team will take the following actions:
      • Update StreetEasy account affiliation
      • Determine if a new contract can be issued for the Program
      • Determine if any StreetEasy Connections need to be reassigned
      • Determine which brokerage is responsible for applicable success fee payments

• • Team Leads:
    • Notify StreetEasy at experts@streeteasy.com if your brokerage affiliation changes. The StreetEasy Support team will take the following actions:
      • Update StreetEasy account affiliation
      • Determine if a new contract can be issued for the Program
      • Understand the state of your former team, i.e: will the team members also be moving affiliations
      • Understand the role you are joining the new brokerage as (individual agent, team member, team lead, etc.)
      • Determine if any StreetEasy Connections need to be reassigned
      • Determine which brokerage is responsible for applicable success fee payments

Payment

Expert Payment Process

After you’ve successfully closed on a property with a StreetEasy Connection, the next step is the payment process. On-time payment is important to your performance in the Program — these are the key actions you must do to complete this process successfully.

Step 1: Log the transaction

• Update the StreetEasy Connection: When a contract is fully executed, update the StreetEasy Connection status to ‘In Contract’ and click Create Transaction to add the details.
• Provide the Transaction Details: Once the StreetEasy Connection status has been updated, the transaction will be available to edit under ‘Active Transactions’ on the Transactions page within StreetEasy Experts Tools

Step 2: Keep StreetEasy up to date

• Respond to StreetEasy Emails: Updating the StreetEasy Connection status to ‘In Contract’ or ‘Sale Closed’ will trigger a series of emails that help our Transactions team validate the closing details. It’s important to respond to these emails as you receive them to keep us informed on the closing.
• Adjust accordingly: Update the transaction details, like the closing date or price. If the transaction changes before the closing date, go back and edit the information.

Step 3: Close and pay

• Report the StreetEasy Expert deal to your Brokerage: It’s important that you notify your brokerage that the deal originated from StreetEasy Experts so they can withhold the success fee from your commission.
• Invoice is sent to you and your Brokerage: Within a week of closing, once all validation documents have been received, the Transactions team will generate an invoice to be sent to your Brokerage.
• Payment is received: The payment terms are net 15 and we accept wire transfers or ACH. Please ensure the invoice number is clearly stated (with INV prefix) in the memo line of any electronic payment. If payment is sent without an invoice number, please ensure that the Expert’s name and closing address is stated in the memo line of the electronic payment. Bank details are linked here.

Monitoring Closing Data

StreetEasy monitors closing data regularly. If StreetEasy determines that a closed sale can be matched to a StreetEasy Expert and a StreetEasy Connection and there is no existing Experts Transaction created, the Compliance team will reach out to determine if the deal is subject to a success fee.

The Compliance team will provide the ‘Connection’s Name’, the address of the closed property, and the date the StreetEasy Connection was provided through the Program. In turn, they will request that you provide the following information:

1. Confirm your involvement in the deal
2. Provide a copy of the fully executed contract
3. Provide a copy of the commission invoice or deal sheet

Existing Connection Policy

If you have been provided a StreetEasy Connection with an individual you already have a relationship with, you must mark the StreetEasy Connection status as ‘Existing Connection’.

StreetEasy defines an existing relationship as having been in contact with the connected party within 30 days of the StreetEasy Connection being delivered. Any prior relationship, or contact, prior to the specified 30 day window, will not be considered an Existing Connection and a success fee will be owed on any qualifying transaction.

Once the StreetEasy Connection status has been updated to indicate a relationship may already exist, the Compliance team will reach out to confirm this relationship meets the requirements. StreetEasy will request evidence be submitted to establish that you and the connected party had been in contact within 30 days of the time the StreetEasy Connection was sent through the Program. Acceptable evidence includes:

1. Screenshot of written communication that dates within 30 days of the StreetEasy Connection
2. Screenshot of call log that dates within 30 days of the StreetEasy Connection

Invalid claims of Existing Connections may lead to removal from the StreetEasy Experts program.

Co-Shopping Policy

Co-shoppers are defined as potential client accounts who have an inferred relationship based on shared listing activity. StreetEasy actively monitors accounts that share listings to determine if a co-shopping relationship exists. If a co-shopping relationship exists, as determined in Streeteasy’s discretion, all parties shall be considered a StreetEasy Connection.

Renter Policy

For the avoidance of doubt, Streeteasy reserves the right to recoup a Success Fee for any Streeteasy Connection resulting in a transaction with a Streeteasy Expert (pursuant to the terms contained in your Experts agreement). This includes any Streeteasy Connections to a renter that result in a subsequent purchase and/or sale of a property that goes in contract within 36 months after receipt of the original Streeteasy Connection.

Outstanding Balance Policy

Payment terms are net 15 and subject to a $500 late fee. Failure to pay the outstanding balance within the net 15 days will result in the following actions:

1. 15 Days Past Due: StreetEasy will send a notice that the payment is past due. Notice will be sent to the Agent and Brokerage finance teams.
2. 30 Days Past Due: StreetEasy will pause Connections for the agent associated with the past due invoice. Additionally, StreetEasy sends notice that Agent Tools is at risk of being revoked. Notice will be sent to the Agent and Brokerage finance teams.
3. 60 Days Past Due: StreetEasy will revoke Agent Tools access from Agent associated with the past due invoice. Notice will be sent to the Agent and Brokerage finance teams.
4. Reactivation: Once payment is received, Agent Tools access may be restored. Participation in the Program will be evaluated during the quarterly review period and StreetEasy will take into consideration all performance metrics.

Teams

StreetEasy Experts Teams allow for participating Expert Team Leads to reassign connections to members of their team. In this section, we’ve outlined the expectations of operating a StreetEasy Experts Team and the responsibilities of both Team Leads and Team Members.

Team Creation

StreetEasy Experts Teams can be established based on the outlined requirements below. This policy aims to ensure that teams meet specific criteria related to performance, experience, compliance, team size, and qualitative assessment to maintain the quality and efficacy of the teams.

• Performance Decile Requirement:

• • Team Leads must either be new to the program or have a performance ranking at or above the 50th percentile to become eligible for establishing a StreetEasy Experts Team.

• Team Lead Deal Experience:

• • Team Leads must meet the minimum number of deals to qualify as an individual agent within the program.
  • Deal experience requirements aim to ensure that Team Leads have the necessary expertise to lead the team effectively.

• Team Size:

• • The total number of agents, including the Team Lead, within a StreetEasy Experts Team must be between 2 and 7 members.
  • Optimizing team size within the specified range promotes effective collaboration and performance.

• Qualitative assessment:

• • Individuals interested in establishing a StreetEasy Experts Team must complete an onboarding questionnaire for qualitative assessment.
  • Successful completion of Team Lead-specific training is also required to ensure readiness for team collaboration.

Team Growth

Team Leads looking to grow their teams must meet the following requirements outlined below. This policy is designed to ensure that team growth is strategically planned and aligned with performance standards and the organization’s growth objectives.

• ​​Performance Decile Requirement:

• • Team Leads must maintain a performance ranking at or above the 50th percentile to be eligible for team growth initiatives.

• Business Advisor Growth Assessment:

• • Teams seeking to expand beyond 7 members must first demonstrate their performance capabilities and collaborate closely with their Business Advisor on a growth plan.
  • Collaboration with the Business Advisor is essential in assessing readiness for team growth and developing a strategic expansion plan.

Team Maintenance and Performance Standards

• Coaching

• • Team Leads are responsible for actively coaching Team Members. This policy aims to support the professional growth and development of all team members by providing guidance and mentorship where needed.
  • Team Leads should closely collaborate with their Business Advisor to develop and implement an effective training plan that aligns with business goals and objectives.

• Engagement

• • Team Leads or a designated contact within each team must communicate regularly with their dedicated Business Advisor. This policy is designed to ensure alignment between teams and the business goals set by the organization.

• Performance Decile

• • Team performance must meet the overall standards set by the organization to remain in the program. This policy aims to ensure that teams consistently deliver results that contribute to the success of the program and meet the established performance benchmarks.
  • As a Team Lead, your Experts performance includes the performance in your account plus the performance of all members of your team.

• Team Lead Compliance Violations

• • Team Leads are accountable for promptly addressing and resolving any compliance violations within the team.
  • Clear understanding and commitment to adhering to compliance policies are essential for Team Leads, as determined by Business Advisors and the Operations department.

Team Status Change

Status in the Program can change based on multiple factors. This section outlines the reasons Experts status may change and how it relates to Teams.

• Team Leads status in the Program may change for the following reasons:

• • Suspensions and reactivations
  • Brokerage affiliation change
  • Leaving the industry

• Team Member’s status in the Program may change for the following reasons:

• • Suspensions and reactivations
  • Brokerage affiliation change
  • Leaving the industry
  • Team Lead’s status in the program

• • • Note: The status of a Team Member is linked to their Team Lead. If a Team Lead were no longer participating in the Program based on the above reasons, the Team Member’s status is subject to eligibility requirements

Team Connections

StreetEasy Connections are delivered to both Team Leads and Team Members based on eligibility. Both Team Leads and Team Members must be a part of the Experts program with a signed Experts contract; all parties working with Experts Connections are subject to the standards laid out in this document. The below is a breakdown of the expectations for each role:

• Team Leads:

• • Will have the option to reassign connections to Team Members
  • StreetEasy Connections can only be reassigned from Team Lead to Team Member
  • StreetEasy Connections can be reassigned amongst the team with no limit, but will no longer be reassignment eligible if and when a deal is reported and a transaction is created
  • If the StreetEasy Connection was delivered directly to a Team Member it will not have the ‘reassignment’ option and will not appear in the Team Lead’s ‘Connections’ page
  • Once the StreetEasy Connection is reassigned the expectation is that the Team Member will update the status and follow through with reporting the transaction should it result in a deal
  • Team Leads are responsible for the entire team’s performance and should ensure that all connections, assigned or delivered directly to a Team Member, are managed to the performance standard laid out in this document and by your Business Advisor

• Team Members:

• • StreetEasy Connections received through the Program and not a result of a Team Lead assignment can not be assigned to another Team Member or Team Lead. In addition, these connections will not appear in the Team Lead’s ‘Connections’ page
  • Reassigned connections will appear in the Team Member’s ‘Connections’ page, just like any other connection received through the Program
  • Be sure to update the ‘Connection Status’ as the relationship progresses. Note: Your Team Lead will also be able to view the status of team connections they’ve reassigned to you

Connection Reassignments

• Changing Brokerages:

• • If a Team Member has left the team to work at a new brokerage or with a new team, the StreetEasy Connections will remain with the individual who is actively working with them.

• Leaving the Industry:

• • If a Team Member has left the industry, the Team Lead should notify the Expert Support team to reassign their StreetEasy Connections.
  • The Team Lead will need to provide the names of the Team Members who will now be responsible for working the StreetEasy Connection.

• No longer Serving New York City:

• • If a Team Member has left NYC, the Team Lead should notify the Support team to reassign their StreetEasy Connections.
  • The Team Lead will need to provide the names of the Team Members who will now be responsible for working the StreetEasy Connection.

• Multi-Person Deal:

• • StreetEasy Connections will not be reassigned if multiple Team Members are helping to support one StreetEasy Connection. The deal should be reported only once by the Expert who represents the buyer/seller and has the StreetEasy Connection assigned to them. Once the deal is closed and the details are available with the Department of Finance, additional Team Members will have the option to claim the closing page and receive credit on their StreetEasy profile, as long as they meet the criteria laid out in the “Claiming Deals” section above.

¹ Please refer to your Experts contract for additional terms and conditions regarding collection of a success fee.

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