Mr. Chaddles' Blog
June 1st, 2020
The Homelight Scam
Homelight is another company who acts like a middle man collecting referral fees by connecting consumers with real estate agents. They claim they'll connect you with the best agent in your area but in reality they're just connecting you with an agent in your area who has agreed to pay them a referral fee.
As they try to tell you, "We analyze millions of real estate transactions to compare real estate agents near you on the metrics that matter: how well they sell homes like yours."
But here's the thing, Homelight doesn't make any money unless they refer you to an agent who has agreed to their 25% referral fee. So take a wild guess who they're really connecting you to. Keep in mind that the vast majority of agents out there haven't agreed to their referral fee.
Homelight even goes as far as to declare that "Virtually all agents are willing to work with us on these terms." No, most agents will not be willing to give up 25% of their commission to work with Homelight. That's complete marketing mumbo jumbo. I can't even remember the last time I used the term mumbo jumbo, but Homelight is complete mumbo jumbo!
Referral networks such as Homelight and Ideal Agent are just companies trying to make money off of referral fees. They both claim they'll connect you with the best agents in your area but those agents are limited to the minority of agents who have agreed to pay them their required referral fee. Don't fall for their marketing schemes.
Mr. Chaddles Previous Blog Posts:
May 22, 2020: The Ideal Agent Scam
May 15, 2020: The Redfin Scam
May 5, 2020: Rt. 1 North's Missing On-Ramp in Revere
February 12, 2016: Mr. Buttersworth Asks You to Adopt
February 9, 2016: Possibly the Most Amazing House Ever
February 3, 2016: 9 Famous Spite Houses Built to Annoy the Neighbor
February 1, 2016: Rare Mr. Buttersworth Sighting
August 9, 2012: Yesterday I'm driving Down the Street...
August 5, 2012: Real life Mufasa and Simba
August 5, 2012: Lower Pond at Breakheart
SEE ALL BLOG POSTS HERE