Why this VC-backed StreetEasy rival is cutting back on listings inventory The startup is restricting open listings on its platform
The Zumper listings section with CEO Anthemos Georgiades (Credit: Zumper and Facebook)
In 2017, rental listings portal Zumper embarked on a brave new strategy compete directly with the agents using their platform, and forge exclusive relationships with landlords across the city. As the venture-capital backed firm has introduced new restrictions on outside agents, the number of listings on the platform has been cut in half over the last year.
Zumper said the reduction in listings is by design it has been culling open listing inventory in order to improve overall listing quality, a spokesperson told The Real Deal. The San Francisco-based company with nearly $78 million in seed funding from players like Blackstone Group, Andreessen Horowitz and Kleiner Perkins still allows exclusive listings on its platform for free, but has restricted agents who have listings without an exclusive relationship with the landlord.
Last May, when Zumper still allowed agents to post non-exclusives, there were 38,000 rental listings on the website. Zumper now has about 19,000 rental listings in New York, still above 5,000 more than market leader StreetEasy.
One agent who previously used the platform for open listings, for example, received notice of a canceled and refunded subscription and could no longer post listings.
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