HomeLight Reviews: Are Their Services Worth the High Fees?

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HomeLight is a real estate company that provides home selling and buying solutions. They help homeowners connect with top real estate agents through their agent-matching service. Moreover, they also provide fast cash offers to sellers in select markets.

Pros

• Quick sale with HomeLight cash offers in as little as 10 days
• Free agent-matching service for buyers and sellers
• Buy Before You Sell option

Cons

• Constant spam calls and mails
• No scope for commission savings
• Mixed reviews about agent performance

Is HomeLight Legitimate?

Yes, HomeLight is a legitimate real estate company founded by Drew Uher in 2012. According to their website, they have partnered with more than 30,000 agents and lenders and have served 1M+ clients.

Customer Reviews: The Truth About Homelight

We compiled ratings and reviews on HomeLight across platforms such as Google, Trustpilot, Yelp, and Better Business Bureau. The company has an average rating of 4.3 stars based on 679 total reviews.

538 are from Google, where HomeLight has a 4.6-star rating. On Trustpilot, they have 2.8 stars from 3 reviews. On Yelp, they have a 3-star rating based on 65 reviews. Additionally, they are an A+ accredited BBB company with 3.9 stars from 73 reviews.

Website	Rating	Review Count
Yelp		65
Google		538
Trustpilot		3
BBB		73
Weighted Average		679

We analyzed HomeLight’s reviews and found that many sellers appreciated their streamlined process. However, we noticed that most of these praises date back to 3 years ago or more. In recent times, negative feedback of the company outweighs the positive reviews.

Additionally, HomeLight Realty review complaints highlight common themes of:

1. Excessive spam calls, emails, and texts
2. Unauthorised sharing of information
3. Inconsistent customer service

HomeLight Reviews: Praises

✅ Dave R. found a reputable local real estate agent through HomeLight. The representative made the process easy and was very responsive. As a result, the seller stated that they would use the company’s services again.

✅ Benjamin D. had a positive experience with the HomeLight Buy Before You Sell program. They moved into their house while the agent worked on selling their old one. This way, they secured a new property while making extra money with the sale of their previous home.

✅ William R. had no contacts in New Mexico, but HomeLight matched them with a top agent in the state. The team was also extra attentive due to the company’s referral. As a result, the homeowner has used their services several times in the past 5 years.

HomeLight Reviews: Complaints

❌ Brian Pastor expressed frustration with HomeLight support. Their emails about an issue went unanswered for several months. They also called the company’s helpdesk, but they got different representatives each time, who failed to resolve the issue.

❌ Brandon B. accused HomeLight of using the bait-and-switch method and sharing their contact details with Realtors. The seller provided their information to HomeLight for a cash offer. Instead, they received many calls and emails from Realtors offering to list their home.

❌ Chris White contacted HomeLight to ask about their home’s value. However, the homeowner complained that they received excessive spam calls despite stating that they were not interested in selling their home.

HomeLight Reviews: Pros and Cons

After analyzing the various services of HomeLight and their reviews, here are the advantages and disadvantages we found.

✅ Pros

• Extensive Network of Experts: HomeLight Inc. has partnered with over 30,000 agents and lenders across the US.
• Quick Agent Suggestions: HomeLight instantly gives you an agent recommendation after you fill out an online form. For example, the company immediately suggested agents to Jessica Stahl after they filled out the form.
• Streamlined Process: With agent-matching services, financing tools, closing services and more in one place, HomeLight can be your one-stop solution for a streamlined homesale. For instance, buyer Bob Wilson used the help of HomeLight Title and Closing to easily manage the escrow funds and closing costs.
• Nationwide Coverage: HomeLight’s agent-matching service is available in all 50 states. Their Cash Offer and Trade-In program also extends service in many major markets like Florida, Colorado, Texas, etc.

❌ Cons

• Negligible Scope for Commission Savings: The agents of HomeLight real estate have to pay a referral fee. This eliminates your scope to negotiate the commission.
• Constant Spam Calls: After contacting HomeLight once, you may receive frequent spam calls and emails. For example, Victor S contacted HomeLight to know the value of their home. Even though the company did not respond, they received many spam calls and texts.
• Unauthorised Sharing of Information: HomeLight might share your information even if you approach them for a cash offer. Ryan S. faced this situation when the company sent their information to Realtors, despite requesting otherwise.
• Unreliability of Services: According to HomeLight reviews, your experience entirely depends on the agents you collaborate with.

Is there a HomeLight listing management service?

Yes, there is a HomeLight listing management service. Their website claims that it helps agents make transactions simple and secure.

How Does HomeLight Work for Sellers?

You can use HomeLight’s services to either list your home on the market or seek a fast all-cash offer.

• Check Your Home’s Worth: Visit HomeLight.com and see what your home’s current value is before deciding whether you want to list it on the market or not.
• Get Recommendations: In case you want to list on the MLS, HomeLight will suggest you real estate experts in your area. You can choose the best match for your needs.
• Sell Your Home: Whether you list your home or seek a cash offer, HomeLight and their agents will help you sell your home.
• Close the Deal: HomeLight promises to help you through the closing process. Their representative will help you with the paperwork and closing transaction.

🚨Important: Many HomeLight seller reviews mentioned that they received a barrage of spam calls and mails after using the the HomeLight home value estimator.

» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.

How Does HomeLight Work for Buyers?

HomeLight can help you secure your dream house with a simple buying process.

• Connect With Agents: After you enter your home search details, HomeLight will suggest local agents. You can interview them and then choose one that works best for you.
• Secure a Mortgage: After agreeing upon a budget with your agent, you can connect with lenders to secure a loan. You can also apply for a HomeLight Home Loan in certain states.
• Find Your Home: With HomeLight’s home search, you can keep an eye on new listings on the market.
• Make an Offer: Once you find your dream house, you can make an offer with the help of the HomeLight agent. In case your offer is accepted, the agent will further help with the closing paperwork.

What is HomeLight Settlement LLC?

HomeLight Settlement LLC helps buyers and sellers to handle the title and closing process. Since there is a lot of paperwork during the settlement process, the company steps in and makes it easier for you to track the legal steps.

Other HomeLight Programs and Services

Most homeowners approach HomeLight for their agent-matching services. However, the company has expanded their services to cover many other aspects of real estate.

HomeLight Simple Sale program

You can use HomeLight’s Simple Sale program to get competitive cash offers for your home and compare them with traditional sale prices. Through this program, you can sell your house as-is, and that too with zero commission fee.

We found HomeLight Simple Sale reviews where sellers alleged that even though they approached the company for a cash offer, their information was shared with listing agents. Sellers like Joe B and Karrie J called out HomeLight for using such deceptive techniques.

How Much Do You Pay?

You can use HomeLight’s Simple Sale program without having to worry about any costs. You don’t have to pay any commission fee while seeking a cash offer. Additionally, you don’t have to undertake any repairs either.

Pro Tip: Like most cash offers, you might get only 50% to 70% of your home’s value with the Simple Sale program. We recommend using a cash buyer marketplace like Clever Offers to possibly attract multiple buyers and competitive offers.

HomeLight Cash Offer

You can use HomeLight’s cash offers as a buyer, too. They will make a cash offer on your behalf and purchase your dream home. You can then buy the property from the company after securing your finances.

How Much Do You Pay?

You will have to pay a fee to HomeLight for the number of days they hold your home, depending on your local market. As of now, this service is available in 48 states.

For the first 30 days, you will have to pay a 3% of the purchase price as fee. This amount can be lowered to 1% if you use HomeLight Home Loans. After a month, you will be charged 0.5% daily for the number of days they own your home.

HomeLight Trade-In

HomeLight Trade-In helps you to buy a new house before selling your existing one. You get a guaranteed offer on your old home while buying a new one. After this, the company looks for buyers to resell your old house within 120 days.

How Much Do You Pay?

The fee changes depending on your local market. Typically, it is 2.4% of the old home’s sale price. However, it is 2.9% in Florida, while there is an upfront fee of $1,500 in Chicago.

🚨Important: In case your previous house does not sell within 120 days then HomeLight will buy it at the Loan Payoff Value and list it on the market.

HomeLight Home Loans

HomeLight offers mortgage services with their Home Loan program. They promise help from an assigned loan officer, low rates, and convenience.

How Much Do You Pay?

Our research shows that there is no fixed interest rate for the HomeLight mortgage. Typically, it depends on your credit score, loan amount, market conditions, etc.

HomeLight Coverage

HomeLight real estate covers all 50 states and D.C. However, their programs are market-specific and cover different states.

How Much Does HomeLight Charge?

The HomeLight Referral program is free for you, but they will charge your agent a referral fee. This fee is around 25% to 33% of your agent’s commission. Meanwhile, the agent will take a commission of 3% of your home sale.

For instance, if your home’s value is $300,000, your agent might charge you $9,000. Out of this, HomeLight will possibly keep around $3,000. As a result, your agent is less likely to negotiate their commission and lower it.

Richard Knapp was disappointed with HomeLight’s lack of transparency about their referral fee. They had to pay thousands in commission to an agent they already knew and could have contacted directly.

🚩 HomeOpenly, another real estate platform, had once accused HomeLight of price fixing and false advertising. Watch the video to uncover the truth about the HomeLight vs. HomeOpenly case.

Does HomeLight charge a hidden fee?

No, you don’t pay any hidden fees with HomeLight. The service is free for sellers and buyers. However, agents pay HomeLight about 33% of their commission as a referral fee. This can reduce their willingness to lower commission rates.

HomeLight Competitors

We evaluated various real estate companies on metrics of essential features such as commission savings, profit, and fee transparency. Our research led us to Houzeo, Clever Offers, and UpNest as top options. Here’s how they compare to HomeLight.

1. HomeLight vs. Houzeo

HomeLight connects you with real estate agents who typically charge you 3% commission. While you benefit from expert guidance and support, the agent commission is a high cost to consider when selling a house.

On the other hand, Houzeo eliminates agent commission and offers Flat Fee MLS listing service. You can utilize Houzeo’s advanced tools, save on hefty commissions, and gain exposure to potential buyers. Check Houzeo reviews to know what sellers have to say about the service.

2. HomeLight vs. Clever Offers

You can sell your house as-is to HomeLight and receive a fast cash offer. However, their offer might be below your home’s Fair Market Value. Most cash buyers offer only 50% to 70% of your property’s worth.

Meanwhile, Clever Offers can push your property in front of multiple buyers and encourage competition. You can possibly attract many offers and choose one that you think is the best.

3. HomeLight vs. UpNest

HomeLight’s fee structure can be complicated to understand. Moreover, many sellers reported that they were not aware of the 33% referral fee that agents have to pay.

UpNest is another agent-matching company that charges a 30% referral fee to agents. However, they promise transparency for the commission rates so that homeowners can make an informed decision.

Are there other real estate agent referral companies?

Yes, there are many other real estate agent referral companies. Apart from HomeLight and UpNest, you can also use the services of Opcity, Zillow Flex, Agent Pronto, etc. to connect with top agents in your local market.

Other Ways to Sell Your House

• Sell with a Flat Fee MLS Service: Flat Fee MLS companies list your home on the MLS for an upfront fee. You can avoid paying the agent’s commission while ensuring that your home gets exposure to buyers and major real estate platforms.
• Sell FSBO: For Sale By Owner websites help you list and sell a house yourself. This way, you save thousands in agent commissions and retain complete control over the selling process. Many FSBO websites will also help you with the paperwork.
• Sell through a Realtor: Traditional Realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
• Sell Through Discount Realtors: Discount real estate brokers reduce their commissions to offer affordable services. Their commission varies between 1% and 2.5%.

HomeLight Reviews: Are They Ideal for Sellers?

Yes, HomeLight is ideal if you want help from a professional agent, but with a non-negotiable 3% commission rate. While HomeLight reviews highlight their extensive services, the commission cost may be a downside for some sellers.

In contrast, Houzeo provides a Flat Fee MLS listing, helping you avoid high commission fees. With excellent customer support and positive feedback, Houzeo is a great choice for sellers who prefer a more cost-effective approach.

HomeLight reviews Trustpilot, BBB, Google: Research Methodology

We conducted thorough research on HomeLight Inc. to provide an unbiased and fact-based analysis. Our research compiled data on real customer experiences from credible sources. To maintain accuracy, the methodology included:

• Varied Reviews: We gathered reviews of their multiple establishments from Google, BBB, Trustpilot, and Yelp to ensure credibility.
• Qualitative Analysis: We analyzed reviews to identify common issues, discern themes, and gauge overall customer sentiment.
• Objective Insights: To highlight both pros and cons, we summarised all the reviews and offered neutral insights.

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