Ownerly is an online service designed to provide property value estimates and other real estate information. This digital real estate platform has been gaining attention for its home valuation tools. But is Ownerly a legitimate and effective choice for property evaluations in 2024? Let’s dive into a detailed review to determine if it’s the right tool for you.
What Is Ownerly?
Founded in 2018, Ownerly offers a range of features aimed at helping users understand the value of their homes or any property they’re interested in. The platform provides data on mortgage rates, homeowners insurance, and utility offers, among other things. It operates exclusively in the United States.
Ownerly Reviews: More Negative Than Positive
Ownerly has received largely negative feedback from its users, with many citing issues such as inaccurate property values, hidden fees, and poor customer service. On Trustpilot, the platform holds a low rating of 1.7 out of 5 stars, reflecting widespread dissatisfaction. Many users report that the home value estimates provided by Ownerly are outdated or incorrect, which diminishes its usefulness for real estate decisions.
One Trustpilot reviewer described Ownerly as a “joke,” explaining that when trying to gather information about a piece of land they were purchasing, the site provided no records. Even for their million-dollar business property, Ownerly only had limited, outdated information, making the platform seem like a poor investment.
Rob, another disgruntled user, shared his experience of signing up for a free trial only to encounter hidden fees when attempting to access detailed reports. He also faced difficulties canceling the service and found customer support unresponsive. His frustration mirrors many other complaints, particularly regarding unexpected charges after the trial period.
How Does Ownerly Work?
Using Ownerly is straightforward. You enter an address into their search bar, and the platform retrieves information about that property, including estimated value, recent sales, and more. Access to these reports requires a subscription, but you can start with a 7-day trial for just $1. During this trial, you can view up to 25 reports, which provides a good opportunity to evaluate the platform’s offerings.
Costs and Subscription Plans
Ownerly offers two trial options:
- $1 Trial: Access to view up to 25 property reports.
- $5 Trial: Allows you to download and print up to 25 reports.
After the trial, the subscription fee is $29.99 per month, covering up to 25 reports. This monthly fee can add up, especially if you don’t need frequent access to property data. Make sure to cancel before the trial ends if you decide it’s not for you.
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Pros and Cons of Ownerly
Pros:
User-Friendly: The website is clean and easy to navigate, with data presented in an accessible format.
Affordable Trial: At just $1 or $5, the trial options are cost-effective for short-term use.
Comprehensive Data: Ownerly consolidates various property-related data into one place.
Cons:
Monthly Subscription Cost: At $29.99 per month, it might be pricey if you only need occasional access to reports.
Reliability of AVM Data: Automated Valuation Models (AVMs) used by Ownerly rely on public and user-generated data, which may not always reflect the true market value.
Mixed Reviews: As a newer service, Ownerly has received varied feedback, with some users noting issues with data accuracy and service reliability.
Ownerly for Buyers and Sellers
For buyers, Ownerly can be a useful tool to gauge property values and make informed decisions. It provides a general idea of a property’s worth and market trends, which can be valuable in a competitive housing market.
For sellers, Ownerly can assist in setting a competitive price by comparing your home’s estimated value with similar properties. However, it’s essential to use Ownerly’s data as a starting point rather than the sole basis for pricing decisions. Professional appraisers and local real estate agents can offer more nuanced insights and a thorough market analysis.
Alternatives to Ownerly
If you’re considering alternatives to Ownerly, several other platforms offer similar services:
- Fasthomeofferutah.com: provides a free online home valuation tool.
- Zillow: Known for its “Zestimate,” Zillow provides a free home valuation tool.
- Realtor.com: Offers property estimates and detailed market information.
- Redfin: Provides property value estimates and insights into local real estate trends.
For a more personalized approach, hiring a licensed appraiser or real estate agent can provide a detailed and accurate assessment of a property’s value.
Bottom Line: Is Ownerly Worth It?
Ownerly presents a convenient and cost-effective way to access property valuation data. Its affordable trial options and user-friendly interface make it an attractive choice for those needing quick insights. However, its reliance on AVM data and mixed reviews suggest that it may not be the best tool for everyone.
If you’re looking for a comprehensive and reliable home valuation tool, consider complementing Ownerly with other resources or professional services. This approach will ensure you have a well-rounded understanding of property values, whether you’re buying, selling, or simply curious about the market.