Homebot | Reviews and Pricing | 2024
Homebot is an award-winning market update software for real estate agents and lenders. Homebot goes further than revealing what has sold in a neighborhood and estimates the homeowner’s equity based on their estimated mortgage payment. From this, homeowners can toggle real-time estimates of what they would net if they sold or refinanced. It’s a great tool for staying in contact with your past clients after the transaction.
Homebot was founded in 2015 and is headquartered in Denver, CO. In 2020, Homebot was acquired by ASG.
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Your Reviews
Homebot
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Use Homebot if…
- You want an engaging, data-rich content piece to supplement your existing past client and sphere of influence marketing strategies
- You’re a Ylopo user (it’s included)
Skip Homebot if…
- You aren’t a Ylopo user and are looking for a CRM that can manage basic referral campaigns (consider Top Producer)
- You’re needing something on a budget and with a more classic market update style (consider ListReports)
- You have a highly visual brand that prioritizes rich images, print communications, and social media tools (consider ReminderMedia)
View Other Market Report Tools
Best Features
Good AVM and Equity Estimate
Realtors are rightly suspicious of anything that is offering automated home value estimates (called an AVM). And sure, AVMs are nowhere near predicting home values as well as agents can, especially in non-disclosure states like Texas.
But Homebot uses quite a few data vendors, and in addition to a decent AVM, as AVMs go, has good mortgage information. With this, they can estimate not only a home value but a customer’s actual home equity.
With that, homeowners can then see exactly what they might net if they sold their home. They can find estimates of what they would save (or lose) by refinancing.
Great Usability
You can take a Homebot demo for a spin. I think you’ll find that the UI / UX is quite intuitive.
Customers won’t likely be confused as to how to use the information you are sending them. This is demonstrated by what are reportedly very high open rates for Homebot materials. They have good value and are easy to use.
Lender Comarketing
Homebot is designed to be used with a lender partner.
Not only is this an advantage for agents who can split the costs with their favorite loan officer, but allows agent and lender to cross brand each other’s database of past clients.
Ylopo
Ylopo, the CRM and real estate platform, is a Homebot expert and contributed to this article! Ylopo partnered with Homebot in 2020 and added Homebot’s tools to all Ylopo plans for free. Ylopo is a CRM software with a special focus on Facebook and PPC advertising.
Biggest Pitfalls
Few Integrations
Homebot has very few integrations with real estate brokerage CRMs and platforms.
The consequence is that users have to use Homebot as a “separate” product, logging in and loading contacts for messaging. Those have to be managed within the Homebot ecosystem, not within your own ecosystem.
One exception is Ylopo, which directly integrates with Homebot and allows users to manage their Homebot campaigns from within the CRM. Ylopo provides Homebot for free as part of their software package.
Less Visual
Homebot looks good and is easy to use.
But unlike some of its competitors, it doesn’t have a lot of pictures. When looking at neighborhood market sales, competitors more often include pictures of homes. Homeowners can indulge their voyeurism a little.
Homebot may, therefore, not appeal as much to anyone looking for the classic, image-rich look of some market updates.
Homebot Pricing*
- $25/mo up to 500 contacts
- $50 setup fee
- $10/mo for each additional 500 contacts
Homebot has simple pricing. For up to 500 contacts it is $25/mo. It is another $10/mo for each additional 500.
There is a $50 setup fee.
*This is current to the best of my knowledge at the time of this writing. Contact the vendor directly to check current prices, discounts, and terms.
My Personal Recommendation
Homebot is a slick tool. And affordable! It strikes me as an easy silver bullet for anyone who wants to add a home value component to their referral marketing campaign.
But of course there are no silver bullets in real estate. And shiny new objects can stack up quickly, even when affordable on their own.
Homebot is designed for the long game. It works to supplement your existing referral marketing, not replace it. It should keep you top of mind with your past clients and might, by itself, lead to a referral or repeat customer. But I would still recommend it only as a piece of a larger referral marketing strategy that includes various forms of past customer outreach.
Homebot is also a tool that you can use only if you have a database to market to. You cannot buy lists and spam them with Homebot home valuations. This only works for established and authentic relationships. Make sure you have those and a plan for integrating Homebot into your materials.
All those caveats aside, Homebot is in my opinion the best market update tool on the market. Strongly consider it as part of your marketing campaigns for agents who have been in the business a year or two.
Homebot Videos
Con
They are grossly undervaluing homes in my area….. In fact, I lost a 1,300,000 listing because they said it was worth 900k. Your clients don’t know it’s not you. You literally have to double-check every single value.
It’s not like this is the only property I heard negative feedback for. Wow, what a big mistake. Don’t buy this service you’ll regret it.
Pros
I tried using the service on day one when i signed up for free trial and didn’t like it. You can have same valuation on Zillow, redfin, realtor.com and other online realtor services which are all free. no need to pay for someone to pull from Zillow the home valuation.
Con
I signed up for free trial and after one day decided that i do not want the services of HomeBot as they do not provide the service i need. I email them not to charge me after the trial period. Day after i noticed that they made the charge on my account on file with them. I called them immediately and ask them why, they told me that their service is month 2 month and they will not bill me for next billing cycle in 30 days??? This is so stupid as i don’t need service but they still decide to go ahead and charge me for it?? Daylight Robbery as these people are criminals that get away with such a scam!!! be careful whey signing up for any services with this company as they are dishonest and crooks!!!!
Con
SCAM!!! This company did not deliver as promised by their salesperson. Was offered first 25 contacts for free, only entered my own info to test it first and none of the auto emails or adjustment features were as promised. They forced me to enter billing information and billed me 3X the rate I was quoted and refused to refund. RUN FAST away from this company.