Online classifieds platform Craigslist recently prohibited the ability to embed photographs and links in rental listings, a subtle, announced change that could produce ripples across the New York City real estate market. This change will primarily affect smaller brokerages who rely on Craigslist and other similar platforms, rather than larger, well-established firms.
Some industry insiders see the move as an attempt to better control quality and cull broker spam within postings. It may also be the first step in a wider streamlining process, as Craigslist must now compete with other, flashier rental sites like Trulia and Naked Apartments, and may be looking to introduce their own listings service.
Since Craigslist charges for broker ads in New York, it's possible that the move will greatly benefit renters and sellers and enrich the FSBO section of the site, with brokers migrating towards other resources to promote their listings. But according to David Schlamm, CEO of City Connections Realty, "the inconvenience of going through a couple of extra steps to get in touch with a broker would be offset by the greater transparency of the process."
Interesting changes to an old standby in New York City real estate, and just in time for Renters Week 2013.
· "Craigslist tightens controls on property listings" [The Real Deal]