“The BPP launch will include an iPhone app, Android app, and mobile and desktop website. The experience will be free from ads and paid agent placement. Instead, consumers can easily collaborate with their own agent, or connect instantly to the listing agent, ensuring information and answers from a pro who truly knows the home, neighborhood and local market conditions.
For real estate professionals, the BPP launch will include Homesnap Pro, already the leading mobile app for agents to access real-time listing information, collaborate with their clients and work with each other.”
Nice scoop for RISMedia Inman News. I hinted about this on Twitter earlier this week. Good for them, I don’t think the “get one year free” model to MLS providers was working out too well. Although I’m curious how this will effect those agreements with MLS providers to provide HomeSnap Pro, the way this reads I’m not sure any MLS should be paying for HomeSnap Pro any longer or in the future. Which begs the question, what’s BPP’s revenue model?
UPDATE 12/18/2016 – 4:05PM PT
Looks like a post of WAV Group (Broker Public Portal Reveals Partnership and Plan) Blog lays out a revenue model.
“The price for MLSs to participate in the BPP is $1 per MLS subscriber per month – about the same that most MLSs pay today for just a mobile search solution. For this, an MLS can now provide”
$1 per agent per month seems extremely high price, especially at 500,000 agents. Kudos to them if they actually get that! From the previous article is appears they have yet to sign an agreement.
The rumors suggest that participation in BPP will come through MLS subscription dues – potentially as high as $2 / member / month. If this is true, this is more than MLSs are currently paying for Homesnap Pro.
😉 thanks for the mention, Greg.
I think this was very smart of BPP to not try and build themselves which was original plan. I don’t think most realize the real cost of talent and resources to provide anything at scale and quickly come to the same “co-op-funded” conclusion. The primary objective is to avoid agents from being held “ransom” for leads on their own properties but for those brokers who have lead routing and monetization plans in place, they’ll likely up-sell and require leads routed to their systems first. This will be a good thing and more pressure on ad sales from portals after it goes live. I cannot wait to see the impact in a year.