By: Trevor James
In reply to <a href="https://theclose.com/homebot-reviews/comment-page-1/#comment-453820">Rory</a>.
Hi Rory, thanks for your comment! Great observation.
I hear what you're saying - note that Homebot isn't a partner of ours, I'm just a big fan. Since real estate commissions can vary widely across metro areas, brokerages and even certain agents (especially with the current RE landscape), this tool is meant to excite your clients to know what they have available in equity. Think: if they are looking at Zillow or approximating their own value, they won't be provided that information. So they can get this information in other places.
However, with Homebot's algorithm the valuation number should be much more accurate. Plus, the email will be coming from you - their trusted agent. Being able to provide this information directly in their email inbox puts you at the forefront of their mind when they're ready to pull the trigger. This exposure alone can be worth the monthly fee from Homebot.
By: Rory
I'm a real estate broker in Houston and I'm curious about your thoughts regarding a specific feature in Homebot, which seems problematic for us as Realtors. Their monthly emails include the amount of the client's equity followed by the following statement:
"If you sold your home today. this is approximately how much you would put
in your pocket."
This section of their report explains this figure is based on 'home value' minus 'loan balance'. There is no adjustment or mention of Realtor commissions or closing costs. (I've attached a screen shot of this.)
Doesn't this concern you at all? I'm worried about the expectations this creates with clients. I'm hesitant about using Homebot for this reason.
Thank you for your time and insight.