Dive Brief:

• A handful of real estate agents in New York City are using the mobile image messaging application Snapchat to show homes for sale or rent, including multimillion-dollar properties, according to CNBC.

• The Snaplistings account gives followers an inside look at available apartments and allows them to connect directly with the real estate agents to learn more.

• The account’s founders told CNBC that the majority of leads coming through the app are focused on the lower end of the market, since those properties are more accessible to Snapchat’s younger audience.

Dive Insight:

The recent increase in investment and development concerning mobile, web-based tools for real estate is being driven by competitive market conditions and an influx of tech-savvy homebuyers and renters. Younger buyers and renters are more likely than previous generations to engage with internet tools when looking for a new property, a recent Zillow survey found.

Last month, real estate listing website Zillow announced that it had revamped its app to feature iMessage functionality. Now, users with iOS-based mobile devices can use the app to share photos and information concerning a home for sale or rent with their regular contacts via text messaging.

Meanwhile, Realtor.com launched an automated response application for Facebook Messenger that allows users of its Doorsteps rental listing website to receive new home listings that meet their preset criteria at a set time each day through the social media platform's web and mobile app.

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