How does HomeTraq work?

For house hunters, HomeTraq is a quick and easy way to find agents to schedule home showings—much like you would use Uber or Lyft to quickly find a driver to get a ride. As a house hunter, one of the main advantages of using HomeTraq to schedule showings is that HomeTraq cuts out ongoing solicitation and eliminates the pushy “bank and forth” sales tactics some agents might use to trap them in an exclusive agency agreement.

Lenders can then offer HomeTraq to their customer base as a way to get on-demand home showings. When their clients use HomeTraq, lenders will essentially be with them every step of the way: HomeTraq sends instant home shopping alerts right to their inboxes and then refers the home buyers back to their lender for pre-approval. By staying aware that their customer is shopping for a home, lenders can now capture their business before a real estate agent refers them away to the competition. 

How is HomeTraq a turnkey solution?

Lenders are frequently slammed, dealing with countless sales, origination, and operational challenges every day. That’s why we created HomeTraq as a turnkey solution so lenders can quickly get up and running. When you get started with HomeTraq, we create a co-branded website that homebuyers can use to shop for a home. Although they aren’t required to start pre-approval at your institution, they are encouraged. 

HomeTraq will provide you with a variety of digital assets, such as infographics, blogs, and advertisements, that you can deploy via nurture emails or have HomeTraq do so on your behalf. These emails will provide valuable information to your customers on topics such as tips for buying a house, alternatives to in-person home tours, and much more—making sure you and your institution stays top of mind as a trusted and reliable lender. HomeTraq also supplies examples of additional marketing collateral such as flyers, business cards, and pop-up banners to distribute to loan officers and customer service representatives that you can then co-brand to your marketing specifications. 

Frequently Asked Questions

Q. Does using HomeTraq require a lot of effort from our marketing team? 

A. No! We designed HomeTraq as a turnkey solution that is not only a breeze to set up but also easy to manage. We supply all the marketing materials and all you have to do is include them in your current marketing cycle. 

 

Q. Is HomeTraq active in my area? 

A.If HomeTraq is not already active in your area, we can be active in any major market in less than two weeks. We simply need to acquire enough real estate agents to manage the home buying leads in a timely manner.

 

Q. Is HomeTraq expensive? 

A. We see HomeTraq as an extremely low cost per acquisition. If you choose to only market to your customer base, HomeTraq is completely free. If you choose to advertise on top of your marketing efforts, the average cost per lead is around $5—which we’ve found to be extremely low. By distributing HomeTraq across 6-12 months to 5k customers, you can expect approximately 300 active leads with 50+ booked showings, leading to 25 closings.