Last week, Broker Public Portal became Homesnap. By way of background, the Broker Public Portal was created in 2014 to compete with third-party portals such as Zillow, Trulia and realtor.com.
- The "national MLS" might address the problems of cost and deployment of an app that people want to use, but most observers agree that competing with Zillow in search is going to be very, very difficult.
- Nothing changes about how brokers display each other's listings and use them for lead generation.
- Zillow will probably continue to dominate search and lead generation for many years. BPP/Homesnap will take traffic and leads from brokerage websites that do not offer a compelling user experience and valuable content.
- Despite claims in the promotions, BPP/Homesnap is not a "national MLS." One of the primary functions of an MLS is the offer of cooperation and compensation, which BPP/Homesnap does not provide.
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