Homesnap

About Homesnap

Homesnap operates as a mobile technology platform within the real estate market, providing data-driven tools for both real estate agents and consumers. Founded in 2008 by Guy Wolcott and Steve Barnes, the company was originally known as Sawbuck Realty before rebranding in 2013 to center around its flagship mobile app. Guy Wolcott, who served as CEO, had a background in finance as a partner at a mortgage company and a managing director at a consulting firm before co-founding the venture. Steve Barnes, the company's President, played a key role in its mission to deliver high-quality products for agents.

The company's primary offering was the Homesnap Pro application, a mobile tool provided to agents often for free through partnerships with Multiple Listing Services (MLSs). For agents, the platform offered access to real-time MLS data, lead management, client collaboration tools, and marketing automation services. Its core feature allowed users to take a photo of a home to instantly receive detailed property information, including value estimates, lot boundaries, and property history. Homesnap generated revenue through subscription agreements with MLSs and by offering premium services to agents, such as Homesnap Pro+, which provided enhanced marketing features and business intelligence tools. By 2020, the platform was used by over 300,000 agents and was accessible to more than a million real estate professionals across the United States.

A significant milestone occurred in November 2020, when CoStar Group acquired Homesnap for $250 million. At the time of the acquisition, Homesnap was projected to achieve approximately $40 million in revenue for 2020, a 45% increase from the previous year. Following the acquisition, CoStar Group announced in 2023 its decision to sunset the Homesnap brand and merge its functionalities into Homes.com, which CoStar had also acquired. The Homesnap Pro app was subsequently rebranded as Homes Pro.