Ownerly is a home valuation tool created in 2018. But how exactly does Ownerly work? Is it a scam or a legitimate business? And how is it different from other home valuation sites like Zillow’s Zestimate or Redfin? In this post, I’ll share my Ownerly review and discuss everything you need to know about the site.
What Is Ownerly?
Ownerly is a home valuation tool that anyone can use to calculate the value of their home. In addition, the platform also provides information on:
- Mortgage and refinancing rates
- Personal loan providers
- Insurance policies
- Estimated renovation costs
While all this information can be found for free on Google, Ownerly is unique because it aggregates all of it in one place. This is more convenient for a homeowner, so that they don’t have to search through many different websites to find the answers they are looking for.
Ownerly comes as a web-based tool and app available on both the Google Play and Apple store. The app functions the same way as the website and allows you to check your home’s value at any time.
With the app, you can:
- Check your home’s value estimate from your phone at any time
- Get notified when there are any updates to your home’s value
- See recent sales in your area
- Check your home’s appreciation and value history
Ownerly is a paid service. It starts at a $1 fee for a seven-day free trial period. Contact Ownerly to learn more about the pricing for their service.
Is Ownerly Accurate?
Anyone can use Ownerly, and the process works in three simple steps. First, search for your home’s address on Ownerly’s website or app. Next, tell them a little more about your situation, and then enter your email to get your report straight to your inbox.
Ownerly’s mission is to bring the same data that professionals use to homeowners. But is it accurate? Ownerly works with two leading real estate analytics companies to give you the same data that professional banks and Realtors use.
These companies use the same Automated Valuation Models as comparable sites, like Zillow. These models work by using algorithms to compare the data a user submits with a database of publicly available real estate information.
The algorithm will then give you a home valuation by analyzing similar homes in your area. The same process also works for Ownerly’s other reports on mortgages, insurances, and loan providers.
What sets Ownerly apart from Zillow and other home valuation tools with the same models is that it shows you all the information you need to in one place. This way, you can avoid visiting a separate site to find out information when comparing insurance policies or renovation costs.
Because Ownerly is still new, their website states that they plan to upgrade and expand their features in the future.
Is Ownerly Safe To Use?
If you search for Ownerly online, you will see some people wondering if it is a scam. Ownerly is in fact a legitimate business, not a scam. It was created by the New York-based data company The Lifetime Value Co.
However, it is still a relatively new platform. As a result, there aren’t many reviews of Ownerly on major platforms such as their Facebook business page, Google, or Yelp. But does this mean the tool is unsafe to use?
Ownerly is completely safe to use and is worth exploring as an alternative to Zillow.
One thing to keep in mind about Ownerly is that their pricing model is not fully developed yet. Currently, the way Ownerly makes its money is by selling its user’s data to real estate agents, banks, lenders, and other professionals and companies who sign up to join their partner network.
Ownerly’s primarily uses paid advertising and content marketing to capture website traffic and then sell the leads to members of their partner network. If you’re uncomfortable having your data sold, you can click on the “Do Not Sell My Information” button at the bottom of their website to erase your data from the partner network.
Ownerly’s Partner Network
Ownerly has a partner network system to help real estate agents and other professionals find leads and referrals. To join, fill out the Google form on their website.
The leads you will most likely get from partnering with Ownerly are seller leads searching for their home’s value because they are interested in selling it soon.
The Partner Network may be worth joining as an agent if you have the time and budget to explore a new lead source. Ownerly currently has over 50,000 users. In addition, you can be sure these are high-quality leads because 40% to 45% of new users on the site are looking to buy or sell a home.
This makes these leads more likely to convert compared to any leads you get through paid advertising or on other, non-real estate related platforms. In fact, 35% of Ownerly users have gone on to work with members of the partner network.
Another benefit worth mentioning in an Ownerly review is the site’s extensive blog. Ownerly’s “Tips and Advice” section is continually updated with new posts related to real estate and homeownership:
- Home improvement
- Real Estate
Ownerly’s blog is a great way for homeowners, sellers, and first-time buyers to educate themselves on the complexities of the real estate industry. It also shows Ownerly’s commitment to providing their users with the same knowledge as professionals in the industry, and to help people have a better understanding of one of the largest assets they will ever own.
Final Thoughts on Ownerly
So, do I recommend Ownerly? What is my review of the platform? Ownerly is certainly worth exploring. It has been around for a few years, and has plans to keep growing.
Despite its lack of reviews, it provides users with legitimate data and gives real estate agents access to valuable leads. Use Ownerly alongside other tools or as a one-stop-shop for all the data related to your home.
However, keep in mind that Ownerly advises that while their estimate is great to give you an idea of what your home is worth, it shouldn’t be used in place of an on-site appraisal or working with an actual real estate agent when the time comes to sell your home.
Have you used Ownerly before? If not, do you plan to try it out? Let me know in the comments below!
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