Homesnap Review (2024): Software Pros, Cons, & Is It Worth It?

Check out our comprehensive review of Homesnap to discover what it is, how it works, and whether what it offers can potentially streamline your real estate operations.

• What Is Homesnap?
• How Does Homesnap Work?
• How Does Homesnap Make Money?
• Homesnap Pros & Cons
• Homesnap vs. Competitors
• Homesnap Alternatives
• Final Thoughts: Is Homesnap Worth It?

The past decade has seen the real estate landscape evolve immensely thanks to advanced technology. This tech-driven evolution brought with it real estate apps and software to automate previously heavily manual processes, such as property finding.

Homesnap is one of the many real estate apps that cropped up from the REI space’s evolution, and it continues to bring unprecedented convenience for real estate experts and consumers alike.

What Is Homesnap?

Right off the bat, what is Homesnap? Homesnap.com is a real estate app for homebuyers and real estate professionals.

The app integrates with local MLS databases to offer app consumers and residential real estate investors access to accurate, real-time MLS listings. Homesnap listings often feature detailed property information, ranging from property history to HD photos.

The app also includes home search and real estate marketing features, and while it’s somewhat similar to platforms like Zillow, it stands out for being a mobile-only platform.

The Homesnap app was created and launched in 2021 by Guy Wolcott and Steve Barnes. The duo created the app to provide residential real estate agents and consumers access to professional real estate listings via a user-friendly, public-facing platform.

The app was sold to CoStar Group in 2020 for $250 million. Formerly a Washington-based company, Homesnap is today headquartered in Bethesda, Maryland, and has about 200 employees.

Thinking about investing in real estate? Join Alex Martinez at his FREE training to learn how to get started with house flipping and wholesaling!

How Does Homesnap Work?

Homesnap is a mobile-only real estate app for iOS and Android devices with features that benefit homebuyers and real estate professionals.

The company behind the app partners with local MLS providers from major metropolitan areas to offer consumers and real estate professionals on Homesnap access to real-time MLS listings via an intuitive and user-friendly interface.

Each listing featured on Homesnap is real-time and features data only a real estate professional with licensed MLS access can access, such as the property’s history, area school ratings, property line information, tax, and even comps data.

Besides browsing new homes and residential properties, homebuyers can use the Homesnap app to connect with realtors. Also, note that Homesnap lists rental properties as well. So, if you’re not ready to buy, you can also browse houses for rent. Unfortunately, the platform doesn’t list foreclosure properties.

Real estate professionals, on the other hand, can leverage the platform to generate leads, connect with buyers, and network with other professionals. Here’s a breakdown of the app’s features to help you better understand how it works:

The Home Search Function + Filters

Homesnap doesn’t just offer the average homebuyer access to real-time MLS listings but also provides an intuitive way to browse through these listings with its home search function.

Through this feature, homebuyers and real estate professionals can find the exact property they have in mind by customizing their search based on parameters such as locale, square footage, and the number of bedrooms and bathrooms.

Homesnap also offers a decent range of hyper-specific filters that users can maximize to fine-tune their search further. These filters include commute time, open-house listings, and a specialized filter option that lets users browse homes for sale within specific school districts.

Additionally, Homesnap has maps that take property discovery to another level. These maps highlight school zones and property boundaries and sometimes include satellite images, making it even easier for home buyers to find properties that align with their specific expectations. If users want to keep up with the market, they can set up alerts for price changes, new listings, and any other metrics they wish to stay informed about.

Simply put, Homesnap’s search function, filters, and detailed interactive maps transform the property-finding experience into a seamless and enjoyable one.

Snap Feature

While Homesnap’s home search and filter capabilities stand out, the app boasts a more impressive feature: Snap.

Snap is an innovative feature through which users can capture and upload a picture of any property directly onto the app to find more information about it.

As long as the snapped property is on the MLS, the Homesnap app instantly generates better photos, and detailed specifics such as square footage, bedroom and bathroom count, boundary lines, and the property’s estimated value.

This feature is handy for homebuyers and empowers real estate investors like wholesalers and house flippers who actively navigate the market in search of lucrative investment properties. Snap undoubtedly adds a layer of efficiency to the real estate market exploration process.

In-App Messaging

Once you find an ideal property, whether for residential occupation or investment, Homesnap ensures connecting with the listing agent is seamless thanks to its user-friendly in-app messaging tool.

The messaging feature allows users to initiate and manage conversations directly within the app, streamlining communication between homebuyers and realtors.

Besides agents, users can also share the property with friends and family directly within the app.

Read Also: How To Find Buyers For Real Estate

Agent Safety Timer

As noted, Homesnap has features that benefit real estate professionals as well. The agent safety timer is one such feature. It enhances transparency between agents and homebuyers and promotes agent safety, especially during open houses.

With this tool, real estate agents can set up a timer on their mobile devices to inform prospective homebuyers of how long a listing will be closed for viewing.

Agents can include an emergency phone number with the timer settings. Should the agent fail to check in once the predetermined time expires, Homesnap automatically contacts the designated emergency contact, promoting real estate agent safety in the sometimes unpredictable environment of open houses.

Read Also: The 10 Best Real Estate Apps

How Does Homesnap Make Money?

Considering the Homesnap app is free for home buyers, and is also ad-free, how does the company make money? Through the following avenues:

• Pro subscriptions: While agents can benefit from the free version, Homesnap offers a subscription-based version called Homesnap Pro, designed for agents and other REI professionals. The company primarily makes money through these subscriptions. It provides an annual subscription of $299 for new members and $599 for renewals. In exchange, subscribers get Google business profile management, custom real estate websites, and lead pages, and exclusive access to homeowner data and social media profiles such as Facebook and LinkedIn. Homesnap Pro members also get their Homesnap agent profiles verified and optimized and are boosted on Homesnap’s partner websites, such as Homes.com, enhancing their visibility among potential homebuyers.
• Ads: Although Homesnap remains ad-free, it runs an ad program for agents and other professionals. Through this program, agents and REI experts can purchase optimized ads on popular platforms like Facebook, Google, and Instagram. Homesnap functions as a third party, earning revenue from each ad transaction. The ad campaign budget options are flexible, ranging from $49 to $499.
• The brokerage suite: Homesnap allows brokers to customize their listings, ads, and lead pages with their logos and brand colors. These branding features are applied to the broker’s materials in the app, on their website, and across all Homesnap platforms. The broker’s package also includes a reporting suite that empowers brokers to track and evaluate engagement and performance across their teams. To access these features, brokers usually charge a one-time setup fee of $99.

Homesnap Pros & Cons

Do you need a quick run-through into what Homesnap brings to the table? Check out this list of pros based on Homesnap leads reviews:

• Homesnap allows homebuyers access to MLS listings that are typically only available to licensed agents
• Real-time data: Homesnap listings are not only sourced from the MLS but are also real-time
• The app simplifies the property discovery experience for users through its handy search function, extensive range of filters, and map overlays.
• The innovative snap feature allows app users to find detailed property information based on pictures.
• In-app messaging streamlines communication between home seekers and real estate professionals.
• The agent timer feature promotes safety for real estate agents in the unpredictable space of open houses.
• Homesnap is free for homebuyers
• Lists rental properties as well

Cons

While it offers some pretty awesome perks, Homesnap has some cons. Here are some disadvantages to using the platform, according to the Homesnap reviews we found during our extensive research:

• Limited features for home sellers
• Prioritizes paying agents when pairing homebuyers with agents rather than emphasizing experience and performance
• Limited coverage: It only features listings from areas where it has MLS partnerships
• No FSBO and foreclosure properties

Homesnap vs. Competitors

Is Homesnap the best app for home buying? Check out how it stacks up against the competition before drawing your conclusion:

Homesnap vs Zillow

Zillow is an American real-estate marketplace that, similar to Homesnap, offers users access to MLS listings.

The two platforms are similar in that beyond the listings, they also feature marketing programs for real estate agents and investors. Homesnap has Homesnap Pro and the Pro+ Concierge service, while Zillow runs the Zillow Premier Agents program.

However, Zillow is a well-established, pioneering brand in the industry with nationwide access to MLS listings. Homesnap, on the other hand, has its listings coverage limited to major metropolises. Additionally, while Homesnap is a mobile-only platform, Zillow is cross-platform, meaning you can use it on PC, iPhone, or Android mobile devices.

Homesnap vs. Redfin

Redfin, founded in 2004, is one of the oldest platforms in the real estate industry. Redfin’s website and mobile app are MLS-powered, providing homebuyers access to Multiple Listing Service properties.

While both platforms offer access to MLS listings, connect homebuyers and local agents, and offer some rental services, Redfin stands out for additional services such as virtual home tours, title insurance, lending, and renovation services. What’s more, Redfin offers agents who charge property sellers a discounted listing fee of 1.5, while with Homesnap agents, you pay the traditional 2.5%-3% fee.

Redfin is cross-platform, while Homesnap operates on mobile only. Additionally, Redfin surpasses Homesnap in terms of listing coverage.

Moreover, Redfin utilizes MLS data on recently sold homes to estimate property value. This makes it a potentially superior platform to Homesnap for CMA, with users reporting 74% accuracy in its estimates.

Homesnap Alternatives

Homesnap is one of the best apps for home buying, but as noted, it does have some limitations. Despite these drawbacks, it’s a pretty awesome app, considering it’s free for all homebuyers. Even the paid versions offer quite remarkable value.

However, to maximize your home-buying experience, you should consider using it in conjunction with another real estate app or website. Here are some excellent alternatives to consider:

• Redfin: Redfin provides real-time MLS listings, a user-friendly interface, and additional services like Redfin Estimate, which offers an accurate home value estimation. It's known for its comprehensive data and user-focused tools.
• Zillow: Zillow is famous for its vast database of properties, including those for sale and rent. It offers unique features like Zestimate for property valuation and an array of search filters to tailor your property hunt.
• Realtor.com: Realtor.com stands out for its direct feed from MLS, offering the most current listings, and is renowned for its accuracy and up-to-date property information.
• Homes.com: Homes.com is a user-friendly platform that provides a wide array of listings for sale and rent, along with useful tools like mortgage calculators and home value estimators.
• Trulia: Trulia offers a distinctive neighborhood-focused approach, providing detailed insights into community features, local lifestyle, and demographics, along with property listings.

Final Thoughts: Is Homesnap Worth It?

Homesnap is a valuable addition to your tech arsenal as a real estate investor. Sure, it has limited coverage, but it excels in the areas it serves, delivering real-time, detailed listing data, including details often limited to the MLS, such as tax data and boundary lines.

It goes beyond basic with its innovative features like the snap functionality, ideal for on-the-go-property scouting investors, and the agent timer feature, designed to promote safety. Furthermore, it’s free for homebuyers, meaning you can tap into the provided listings for lead generation without spending a penny. In essence, it’s an app worth considering for real estate investors.

Looking into real estate investing? Contact Real Estate Skills today and let our team of experts guide you on your path to becoming a successful real estate investor. Whether you're a seasoned pro or just starting, we offer personalized strategies and support to help you achieve your goals.

*Disclosure: Real Estate Skills is not responsible for the information provided by Homesnap or on its respective website. Homesnap is an independent company which provides real estate services to investors. Real Estate Skills trains on using Homesnap and the benefits of using the service but is not responsible for the content it provides.