Real Estate Technology

Homesnap is a mega hit with 50% market saturation

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(TECHNOLOGY) The Broker Public Portal’s new extension, Homesnap, is quickly gaining in popularity with nearly 50% of licensed Realtors® using it.

Pretty new face

Homesnap has reached a major milestone in the development of their platform. The name may sound familiar because it is also the public face for the Broker Public Portal (BPP).

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The Homesnap platform gives Realtors® and their clients the ability to explore homes and search MLS real estate listing online or from a mobile device.

Set apart

What makes Homesnap different from platforms like Zillow, Realtor.com, and others, is the Homesnap app. The app lets you snap a photo of any home, nationwide, and find out everything about the home. For homes currently listed on the market, you may be able to see interior photos, as well as, square footage and other relevant information.

For home that are not currently on the market, you can still see some data.

This data is collated from public information, like tax data and the images are pulled from Google or Bing maps. It also collects census data, school information and mortgage rates, all from a picture.

How does it know?

How does the app know which home you’ve “snapped?” It uses complex algorithms, along with, the sensors in your mobile device (GPS, accelerometer, gyroscope, and more) to determine which home you’ve actually snapped.

When you, or your clients, find the right home and think you might be ready to buy a home, you can contact a licensed real estate agent from the Homesnap app (this also means you can market yourself within the app as well).

Their milestone

Homesnap has been fine-tuning their platform since 2008 and judging by their recent milestone, they have found the perfect formula.

There are approximately 1.2 million licensed Realtors® nationwide and about 500,000 of them are using Homesnap.

This is an amazing accomplishment for a young platform that took many years to bring to fruition. The platform is now available in over 50 large and small markets across the country. Real estate agents have invited more than 13 million clients to connect with them in Homesnap, according to a recent press release.

To use Homesnap Pro, you must be a member of a participating MLS area, with more members showing interest, more MLS memberships are likely to offer the service.

In the press release, Merle Whitehead, Chairman of the Broker Public Portal, stated, “500,000 agents is a tremendous milestone. MLSs and brokers who have been watching from the sidelines should feel confident about supporting an initiative that is gaining great momentum and starting to make a real difference. The BPP’s goal of a national MLS footprint is in sight.”

Progress for Homesnap and MLS memberships

Since Homesnap officially became the face of the BPP in January, MLS groups have been steadily reaching out to send their data to the portal. Participation costs $1 per subscriber per month, paid under a standard agreement between the MLS and National Broker Portal, LLC, the joint venture between Broker Public Portal, LLC and Homesnap launched on January 1, 2017.

“We are thrilled and encouraged by the quick adoption of the BPP by leading MLSs across the country,” said co-founder Steve Barnes. “MLSs and brokers are recognizing that now is the time to join together to support an industry-friendly portal that is conceived and governed by people who sell homes, not ads.” Homesnap follows Fair Display Guidelines by sending all inquiries and leads from the portal exclusively to the listing agent or broker at no charge.

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