Homebot Product Release: A Response To Market Conditions

We sat down with Homebot’s Director of Product, Sharayah Cook, for a product pulse addressing how Homebot has adapted over the last few months to help your client’s in today’s uncertain market conditions.

We’re halfway through 2020 and it’s clear uncertainty has become the new norm.. Between job reports, stock market volatility, COVID surges, and predictions of a worsening recession, unsettling news headlines are everywhere.

But unlike in 2008, data suggests that the housing market is far more financially stable than many Americans may realize. U.S. homeowners are sitting on a whopping $6.2 trillion in home equity. Freddie Mac is reporting an all-time low average interest rate of 3.07%. And a delayed buyer’s season has triggered an immense amount of demand. 

As a home finance or real estate expert, you likely already know this, but do your clients? The vast majority of consumers are confused. Maybe they recently went from a two-income household to one income or have lost their retirement plan in the stock market. We know how busy you are transacting right now, but it is imperative that you find time to advise and empower your clients - or you risk them searching for solutions elsewhere. Homebot’s latest product enhancements are designed to help you do just that. 

In response to current conditions, our product team started brainstorming ways to empower homeowners with timely information about specific market conditions and increase engagement with you, their trusted advisor. Your Market and Equity Smart Search provide  homeowners with easy-to-digest market insights and potential options for upsizing or

downsizing based on their unique financial situation. 

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Your Market provides homeowners with a separate notification, drawing their attention to whether their home’s market is holding steady, heating up, or cooling down. In a comprehensive visual format, your clients will see exactly when their market tips up towards a sellers advantage, giving them a clear indication of when they might want to consider selling. 

If you have activated the Home Search Power Up (available on Lender Pro) your clients will also be able to view listings of similar properties nearby. 

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Equity Smart Search will even provide detailed calculations to help your clients understand how much cash they could pocket or how they could lower their monthly payments by selling their home and moving to a new home.

Your Market was designed to empower your clients with specific, personalized information about their market to help them remain informed in a volatile market and better understand the power of their equity. Your clients are looking for answers. Create clients for life by ensuring you are the expert advising them in these uncertain times. While transactions may not be immediate, empowering your database with Homebot will create trust and velocity to set up your long-term pipeline.

Turn on listings in Homebot.

Watch the full video discussion with Sharayah and Jay.