Homebot leverages public data to help project home value estimations using sale prices, market data, and original loan information.
In non-disclosure states, the algorithm is based on the public listings data. Since it is harder to pull accurate values in these areas, a banner will appear encouraging your clients to click the verify button to get a second opinion from an agent in the area.
Non-Disclosure States Include:
- Missouri (some counties)
- New Mexico
- North Dakota
Homebot still works in non-disclosure states but since information is limited, your clients will receive a notification in their digest about their estimated home value:
How to Handle Non-Disclosure State Clients:
Sales price data information must be obtained from real estate agents involved in local sales or that have access to the local MLS. It can also be obtained from the mortgage details.
Option #1: Leverage your CMA requests and use it as an opportunity to talk with your clients!
Option #2: Depending on the size of your client list, you can also turn off automatic emails for your clients and review each client individually to adjust their AVM before they receive their first digest. Learn how to turn off automated emails HERE and adjust the AVM HERE.
Option #3: Upon bulk import, provide the following to details to ensure your client's profile is robust. Learn more about bulk import HERE.
- Purchase price
- Purchase date
- Appraised value
- Appraisal data
Have questions or need additional support? Send us a chat using the pink message icon in the bottom right-hand corner of your screen!