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Premier Agent prices skyrocket, but brokers pay up

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Premier Agent prices skyrocket, but brokers pay up
On the UWS, cost per lead rose to $197 from $72 over nine months
New York /
(Illustration by Lexi Pilgrim for The Real Deal)
The city’s residential brokers slammed Premier Agent when it debuted in March.  But now, they’re fighting each other for a seat at the table.
Thanks to auction-based pricing, the cost to participate in StreetEasy’s agent advertising program — where agents purchase buyer leads in specific ZIP codes — has shot up over the past few months.
On the Upper West Side, for example, the price per lead skyrocketed 183 percent to $196.88 in October, compared to just $72.07 in May, according to data obtained by The Real Deal. On the Upper East Side, the cost per lead climbed to $166.84 from $107.08 over the same time period.
StreetEasy’s parent company, Zillow Group, acknowledged the price jumps last week, when it reported revenue from Premier Agent rose to $197.1 million during the third quarter, up 24 percent year over year — in part because of New York agents’ participation.
“We were dramatically undermonetized in New York relative to the size of our leads, the size of our audience,” CEO Spencer Rascoff said during an earnings call on Nov. 7. “So there was a bit of a gold rush in New York where agents and teams were buying impressions at a very low price and leads at a very low pri[……]

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Building Congress president just paid $2.2M for this Bay Ridge home

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Building Congress president just paid $2.2M for this Bay Ridge home
Carlo Scissura’s new three-story Colonial has eight bedrooms
New York /
Carlo Scissura and 242 82nd Street in Bay Ridge
New York Building Congress president Carlo Scissura is trading his Dyker Heights digs for a new three-story home in Bay Ridge.
Scissura purchased an eight-bedroom home on 82nd Street between Third Avenue and Ridge Boulevard for $2.2 million, according to documents filed with the city s Department of Finance on Tuesday. Though not far from his current Brooklyn home, the Bay Ridge property offers a shorter commute to his daughter s school, Scissura said on Tuesday.
The house, built in 1899, spans more than 4,000 square feet and has a private driveway and two-car garage. The dining and living rooms each feature a fireplace, according to House-n-Key s listing of the property. The previous owner is listed as Virginia Hindy.
Scissura, a life-long Brooklynite, took over as president of the Building Congress in January 2017, succeeding Richard Anderson, who held the position for more than 20 years.
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Wildfires and a trade dispute with Canada are creating a US lumber shortage

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Wildfires and a trade dispute with Canada are creating a US lumber shortage
Higher prices are passed on to builders and eventually homeowners
Los Angeles /
(Credit: Wikimedia Commons)
A perfect storm of politics, logistics, and natural disasters has created a shortage of lumber that’s become a bona fide “crisis,” for suppliers, industry experts say.
Suppliers are having a hard time getting material to builders, and wood that does make it to construction sites comes at a premium, according to a report in the Wall Street Journal. That is making home building more expensive, and could affect what builders anticipate will be one of the busiest years for home construction in recent memory.
One Colorado-based builder told the Journal he’s spending $8,500 more on a typical home than he did a year ago.
Initially, what set prices rising were a series of wildfires last year in Canada’s forests big enough to be seen from space and a U.S.-Canada trade dispute. That disagreement had U.S. suppliers hesitant to resupply at higher prices.
Trade disputes between the U.S. and Canada date back to the 1980s, but periodic agreements have temporarily settled them. They flared up again when the Trump administration set a 20 percent tariff on Canadian lumber imports last year, after negotiations for another agreement fell apart, the Washington Post reported.
Bad weat[……]

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Zillow and REBNY finally come to the table over RLS feed

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Zillow and REBNY finally come to the table over RLS feed
The listings portal’s CEO Spencer Rascoff met with John Banks on Thursday
New York /
From left: Susan Daimler, Spencer Rascoff and John Banks
For the better part of a year, StreetEasy has been a magnet for criticism from much of New York real estate s brokerage community.
But a visit Thursday by Spencer Rascoff, CEO of StreetEasy s parent company Zillow, to the Real Estate Board of New York may signal a thaw in relations.
Sources said Rascoff — who is based on the West Coast — met with senior REBNY officials, including president John Banks, to discuss the possibility of StreetEasy taking REBNY s syndicated listings feed, which it so far has disavowed.
It s not happening tomorrow, said one source familiar with Thursday s discussion. But they were open. They were listening. It s something that s being considered.
The meeting was two months in the making, according to sources. After reaching an impasse with StreetEasy, REBNY reached out directly to Rascoff late last year to propose a face-to-face meeting.
In addition to Rascoff and Banks, others present at the meeting included Susan Daimler, general manager of StreetEasy; Jim Whelan, REBNY s executive vice president and chief lobbyist; and Sandhya Espitia, REBNY s senior vice president.
It was a productive, positive conversation, confir[……]

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