HomeLight Reviews: Pros, Cons, and Alternatives

Is HomeLight a Legitimate Company?

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.

How Does HomeLight Work?

You can find a real estate agent on HomeLight’s platform with ease. You just need to select “I’m selling” on their homepage and fill out a form to get personalized agent recommendations.

• Provide Information: Enter your property details such as address, size, type, and built year, along with your contact information.
• Get Recommendations: At first, you will get 3 agent recommendations. If these agents don’t meet your expectations, you can ask for more matches.
• Talk to Agents: You can have a call with the agents to understand their expertise and choose the best match for your needs.
• Sign the Listing Agreement: Once you’ve selected an agent, you’ll need to sign a listing agreement to move forward.

After the paperwork, the agent will list your home on the MLS. They also help you find prospective buyers and negotiate with them.

HomeLight Services

» Jump to: HomeLight Simple Sale | HomeLight Home Loan | HomeLight Buy Before You Sell

HomeLight Simple Sale

HomeLight Simple Sale, earlier known as HomeLight cash offer connects you with cash buyers who help you sell your house as is. You can expect a quick cash offer after you sign up and close the deal in as few as 10 days after you accept the offer.

However, most cash buyers do not offer a fair market value for your house. So, you may have to settle with a lowball offer for a quick sale.

» 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.

HomeLight Home Loan

This service makes mortgage pre-approval easy for home buyers. They help you get pre-approved within one day of mortgage application.

HomeLight Buy Before You Sell

It is also known as the HomeLight Trade-in program. In this service, HomeLight evaluates the equity of your home and uses this equity to purchase a new one. Once you move out, HomeLight helps you sell your old home.

HomeLight Coverage

HomeLight covers all 50 states and D.C.

How Much Does HomeLight Charge?

HomeLight’s agent matching services are free for both sellers and buyers. However, HomeLight charges your agent a referral fee. This fee is around 33% of your agent’s commission. This accounts for roughly 1% of the listing agent commission.

For instance, if your home’s value is $300,000, your agent will charge you $9,000. Out of this, HomeLight will keep around $3,000.

🚩 To add to this, 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.

HomeLight Reviews

HomeLight has secured a 4.6 out of 5-star rating based on 537 reviews on Google. Moreover, the company has a 4.1 out of 5-star rating on Better Business Bureau based on 105 reviews.

HomeLight Positive Reviews:

✅ Rishi had a great experience with HomeLight. He also praised the agent he was matched with.

✅ Simon was delighted with HomeLight’s customer service. He was also happy with the agent he hired through HomeLight.

HomeLight Negative Reviews:

❌ Ryan S. was frustrated that HomeLight shared his contact information with realtors despite his request for no agent involvement.

❌ Christopher S. was disappointed that HomeLight’s quick appraisal promise led to spam texts.

HomeLight Reviews: Pros and Cons

Here are some major benefits and limitations of working with HomeLight to help you make an informed decision.

✅ Pros

• Wide Network of Brokers: HomeLight Inc. has a network of over 30,000 agents.
• Quick Suggestions: HomeLight instantly gives you an agent recommendation after you fill out an online form.
• No Obligation to Hire Agents: HomeLight doesn’t oblige you to hire the agent through them. If you don’t find a desirable match, you can walk away.
• Coverage in Smaller Towns: HomeLight has a good network in smaller towns as compared to some of their competitors.

❌ Cons

• No Scope to Negotiate Commissions: The agents of HomeLight have to pay a referral fee. This eliminates your scope to negotiate the commission.
• No Savings: HomeLight doesn’t offer any savings through their service, unlike other real estate companies.
• Unreliability of Services: Your experience entirely depends on the agents you collaborate with.

HomeLight Competitors

» Jump to: HomeLight vs. Houzeo | HomeLight vs. UpNest | HomeLight vs. Opendoor

1. HomeLight vs. Houzeo

HomeLight connects you with real estate agents who typically charge you 2.5 to 3% commission. While you benefit from expert guidance and support, the agent commission is a significant cost to consider when selling a house.

On the other hand, Houzeo eliminates the need for agent commission and offers Flat Fee MLS listing service. You can manage the home sale process yourself, save on hefty commissions, and gain exposure to potential buyers.

2. HomeLight vs. UpNest

HomeLight connects you with top real estate agents, but takes 33% of the agent’s commission as a referral fee. This helps match you with qualified agents for your home sale.

UpNest is a marketplace where agents compete for your listing and offer discounted services. The company charges a 30% referral fee on the agent’s commission after the sale.

3. HomeLight vs. Opendoor

With HomeLight Simple Sale, you can sell your home for a competitive price in as few as 10 days. Additionally, you won’t have to pay any extra fees or commissions.

On the other hand, Opendoor, the largest iBuyer in America, offers cash but at prices lower than your home’s fair market value. They also charge a 5% fee on every home they purchase.

Other Options You Should Consider

• Sell to an iBuyer: iBuyers purchase homes needing minimal repairs in as-is condition. They can be a great option if you want to sell your house fast.
• Sell to Cash Home Buyers: Individual cash home buyers make all-cash offers, usually within 24 to 48 hours. They also let you skip listing on the MLS.
• Sell For Sale By Owner: FSBO websites help you sell your house yourself, saving thousands in agent commissions. Many FSBO websites will also help you with the paperwork.

Is HomeLight a Good Option For You?

Yes, HomeLight is ideal if you want professional agent recommendations, though it comes with a 3% commission fee. While HomeLight reviews highlight their reliable service, 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.

Frequently Asked Questions

• HomeLight Reviews
• Real Estate Reviews