Though the acquisition is just three years old, CoStar has announced it will sunset Homesnap. CoStar plans to transition users to its dominant residential real estate brand Homes.com.
Back in 2020, CoStar purchased Homesnap for $250 million as a means of entering the residential real estate space. Months later, CoStar acquired Home.com for $156 million, further cementing its place in the residential market.
Last November, CoStar relaunched Homes.com as a more agent friendly real estate portal alternative.
Homesnap’s agent app Homesnap Pro will reportedly be renamed Homes Pro.
“Homes Pro includes the functionality agents love from Homesnap Pro, with an improved and upgraded user experience, and more opportunities for agents to collaborate with their buyers and sellers,” David Mele, president of Homes.com told Inman.