Homesnap develops property search and sharing software that helps real estate agents find relevant properties for their clients and share these listings. Homesnap also offers various lead generation, CMA, and tour scheduling features.
Agents who are members of participating multiple listing services can sign up for Homesnap and use the platform to search properties in their market with advanced filters, set up notifications for any changes on target properties, share properties with clients, generate CMAs, and schedule showings, among other features. Agents who pay for premium features can also set up enhanced profiles and ad services to capture leads.
Homesnap's basic services are free for agents, as the company likely charges the multiple listing services that agents are members of. Homesnap also charges an annual software fee for agents that choose to upgrade for additional lead generation features such as custom lead pages and enhanced profiles. According to most sources, these premium features start at ~$600 per year.
Homesnap generates most of its revenue through software fees charged to partner multiple listing services and agents who choose to upgrade to Homesnap's premium offerings.
Homesnap was acquired by CoStar, a provider of commercial real estate information, for $250 million in November of 2020.