CoStar Group & REBNY Launch Citysnap, New Consumer-facing Home Search Website and App for New York City

CoStar Group (NASDAQ: CSGP) in conjunction with The Real Estate Board of New York (REBNY), today announced the official launch of Citysnap, the first-ever consumer-facing search website and mobile app for REBNY’s Residential Listing Service (RLS). Citysnap provides New York City home searchers and real estate professionals with a search portal and app featuring accurate, up-to-date, and comprehensive listings, arming them with a powerful new tool in the search for both residential rentals and properties for sale.

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Photo: Citysnap

Citysnap is the first search site and app to feature all data from the RLS, giving New Yorkers better, more accurate and more comprehensive content. In addition to the listing data, Citysnap offers features that are uniquely designed for New Yorkers’ home searches, including distance to nearby subway stations and need-to-know details on the buildings in which each listing is located. Additionally, Citysnap will launch with a cutting-edge Sky Cam feature – over 50,000 360-degree aerial videos of residential buildings throughout New York City to further enhance the user experience for consumers and industry participants. These features, combined with RLS data, make Citysnap the essential search tool for anyone looking for available properties in New York City.

"New York City is the country’s most exciting real estate market and I am thrilled that we are providing this powerful new tool for real estate agents and brokers to help their clients find the right home in the city,” said CoStar Group Founder and Chief Executive Officer Andy Florance. “New Yorkers no longer have to rely on out-of-date, inaccurate listing information or be connected to agents and brokers who don’t know anything about the home they are interested in, making a difficult process even harder. Citysnap makes searching for a home easier and more efficient.”

“The launch of Citysnap is a game changer for New York City real estate professionals and consumers alike,” said REBNY Senior Vice Presidential of Residential Brokerage Services and Products Ninve James. “It has been a privilege to work with over 500 industry-leading firms and over 12,000 REBNY members to build an innovative search portal that addresses the needs of New York City agents and brokers, while also enabling consumers to access the same up-to-date and extensive inventory of listings and data that industry professionals trust and rely on.”

Citysnap was built by CoStar Group in collaboration with REBNY members following the principles of “Your Listing, Your Lead”, meaning that all leads from listings in Citysnap will go directly to the listing broker or agent, with no additional cost or daily listing fee. REBNY’s 12,000+ residential brokerage members will have free access to Citysnap Pro, which will provide them with additional tools to research listings, collaborate with clients on home searches, schedule showings, connect with other agents, market their brands, and much more.

“Citysnap will instantly become a go-to resource for professionals in our industry and the clients we serve,” noted John Wollberg, REBNY Residential RLS Board of Directors Co-Chair and Managing Broker at Side. “Easy to use from your home, office or on-the-go, the app’s flexibility and efficiency reflects the work ethic of brokers in the RLS.”

“The collaboration of REBNY and CoStar staff, REBNY members and a diverse range of real estate and technology experts has produced this industry-changing product,” added Douglas Wagner, REBNY Residential RLS Board of Directors Co-Chair and Director of Brokerage Services at BOND New York. “Citysnap will not only help residential professionals do their job with greater efficiency but will also create a better search experience and reduce friction in the home search process for current and future New Yorkers.”

Citysnap is available for iOS and Android devices and can be downloaded for free at the App Store and Google Play.

ABOUT CITYSNAP

Citysnap is the first and only real estate search website and mobile app that gives renters, buyers, and sellers in New York City access to accurate, up-to-date-data from REBNY’s Residential Listing Service (RLS). Citysnap empowers consumers with access to the same data used by real estate industry professionals. The platform is uniquely designed for New Yorkers’ home searches, with features including Sky Cam technology with over 50,000 360-degree aerial videos of residential buildings throughout New York City. Citysnap was developed by CoStar Group, the leading provider of real estate tools and information for consumers and real estate professionals, in conjunction with REBNY and the RLS. Citysnap is free for consumers and Citysnap Pro, the professional, agent-only version, is included as a REBNY member benefit. Citysnap is available on iOS, Android, web, and mobile web. For more information, visit www.citysnap.com.

ABOUT COSTAR GROUP, INC

CoStar Group, Inc. (NASDAQ: CSGP) a leading provider of commercial real estate information, analytics, and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality sector. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe, Canada, and Asia with a staff of approximately 4,900 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.

ABOUT THE REAL ESTATE BOARD OF NEW YORK

The Real Estate Board of New York (REBNY) is the City’s leading real estate trade association. Founded in 1896, REBNY represents commercial, residential, and institutional property owners, builders, managers, investors, brokers, and salespeople; banks, financial service companies, utilities, attorneys, architects, and contractors; corporations, co-partnerships, and individuals professionally interested in New York City real estate. REBNY conducts research on various civic matters including tax policy, city planning and zoning, rental conditions, land use policy, building codes, and other city, state, and federal legislation. REBNY regularly publishes market data, policy reports, and broker surveys. In addition, REBNY provides for its members: informational, technical, and technological resources; networking and charitable service opportunities; qualifying and continuing education courses; professional education programs, seminars, and designations; career-changing awards; legal advice; and a wide range of additional member benefits. For more information, please visit www.REBNY.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding REBNY’s and CoStar's expectations, beliefs, intentions, or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that Citysnap does not produce the expected results or benefits for REBNY, CoStar or other industry participants, including the most accurate, up-to-date, and comprehensive residential real estate listings in New York City, and the most comprehensive, accurate and user-friendly home search platform for the area; and the risk that industry professionals do not use Citysnap as expected. All forward-looking statements are based on information available to REBNY and CoStar on the date hereof, and they assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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