Call to action: Please support the BPP by emailing this update to agents and brokers in your market to drive awareness and adoption of Homesnap. For the industry to realize its vision of a national portal alternative to existing advertising sites, we need to communicate the strategic value of supporting Homesnap. Success is in your hands.
Following the phenomenal growth experienced in 2017, Broker Public Portal with Homesnap is anticipating even greater levels of success in 2018. Adoption by MLSs and brokerages is accelerating faster than many thought possible. And thanks to a comprehensive communications campaign, the word is getting out – the industry is delivering across America a better search experience.
Since joining forces with Homesnap one year ago, the evolution of Broker Public Portal has transformed from a hopeful vision to a burgeoning reality. Complying with RESO standards for accurate property data and adhering to Fair Display Guidelines, its national footprint is rapidly growing.
Early this year, Broker Public Portal vice chairman John Mosely described the advances in 2017 this way: “In just 12 months since Broker Public Portal went live with Homesnap, our growth blows the doors off even the most optimistic estimates. This should quiet the naysayers.”
Industry’s Fastest Adoption Rate
As a result of the Homesnap joint venture, agents are adopting the Homesnap Pro mobile app at a faster rate than any previous real estate technology. The Homesnap consumer app continues to be the #1 rated real estate app. It’s no wonder that 2017 saw 150% growth in penetration.
“Homesnap has been endorsed by the industry and thanks to its national footprint, powerful software and strong relationships with agents, brokers and MLSs, it has become a force to contend with,” observed Homesnap CEO John Mazur.
Broker Public Portal with Homesnap continues to transform the way our industry works. Already it has put the best listing information, largest private marketing network and most successful client communication engagement tool in the palm of the hands of 850,000 agents via its mobile-first platform.
Top Investors Back BPP with Homesnap
The big news in Q1 is the infusion of significant investment capital. In February, Homesnap announced the successful closing of an impressive $14 million Series B investment round led by Updata Partners, with participation from Moderne Ventures and other individual investors.
“We look at over 4,500 real estate related technology companies every year and Homesnap has created a value proposition for the industry that outshines almost everything else we’ve seen,” said Constance Freedman of Moderne Ventures.
That value proposition is clear, explains John Mosey, Vice Chairman of BPP. “Broker Public Portal has something companies selling ads do not: MLS, and especially broker-ownership, that always puts industry stakeholders’ interests first,” said Mosey, who also heads up NorthstarMLS, which supports over 17,000 REALTORS® in Minnesota and Western Wisconsin. “This huge boost in funding is going to help accelerate the growth of BPP with Homesnap. And as BPP has promised, Homesnap is fantastic technology that will keep on getting better and better,” he added.
The new funding will support the development of new premium tools allowing agents to further increase productivity in the field and will expand Homesnap’s automated digital marketing for agents and brokerages. Homesnap co-founder Steve Barnes noted the additional funding, “Is a win for agents, brokers, consumers and the real estate industry,” he said.
CRMLS and NWMLS Step Up, Momentum Accelerates
Momentum will continue to build in 2018. We started the year with California Regional MLS, the nation’s largest and most recognized subscriber-based MLS, servicing over 85,000 real estate professionals from 33 Associations, 3 Boards of REALTORS® and 1 MLS, rolling out Homesnap Pro. Then one of the nation’s most respected MLSs, Seattle-based NWMLS, announced in February it would launch BPP with Homesnap. Their public announcement made it clear that they were making this move not only to deliver a great benefit to their members, but to support “Broker Public Portal” and our “industry-friendly alternative to third party portal websites.”
NWMLS members response has been stunning. “More than 11,000 members signed up in the first two weeks,” reported Bill Riss, CEO and Owner of Coldwell Banker Bain, which operates 30 offices from Bellingham, Washington to Canby, Oregon. “The feedback I got from our agents I talked to is they are very excited about it,” he added.
More and more MLSs will be announcing their support of BPP with Homesnap in the coming months. To Vice Chair Mosey, supporting BPP with Homesnap is something he believes wholeheartedly that every MLS should do. “It’s a small investment when you consider the huge impact it will have on our industry’s future. It’s only a buck an agent per month,” said John Mosey, Vice Chairman of Broker Public Portal and head of NorthstarMLS, which supports over 17,000 REALTORS® in Minnesota and Western Wisconsin.
The Buzz Builds
Our strategic communications plans continue to intensify throughout 2018. National news coverage in the first quarter alone included nearly 400 online news reports, reaching potential online audiences of over 180 million. Most importantly, our messages are resonating, and our story is being well covered by the industry’s leading trade news media and industry bloggers. The overall news sentiment from this coverage has been exceptionally positive.
We have some great stories to tell and will look to our leadership to help us share our success stories. We remain grateful and indebted to our volunteer Board of Managers, whose guidance has made our tremendous growth possible.
And finally, we encourage everyone to celebrate this exciting news by sharing it with your colleagues who are next in line to commit to this ambitious and vital industry-wide effort.
Thank you for your continuing support and check back here often for news and updates.
Contact Victor Lund at 805-709-6696 with any questions or meeting requests to sign up for Homesnap.