Eighty-three percent of the average homeowner’s wealth at retirement comes from home equity. For the other 17 percent — found in a 401(k), savings accounts or other investments — there’s often a financial advisor or some other knowledgeable person to help steer them down the right path. But who’s in charge when it comes to managing the wealth associated with owning a home? Ultimately, of course, it’s the homeowner.
The problem is that many homeowners aren’t equipped with the knowledge to make educated financial decisions on matters such as whether it’s the right time to refinance, or whether they have enough equity to consider buying a new home. While these are pretty simple questions, people often shy away from trying to understand, because finances tend to be an intimidating topic. And as a result of this lack of knowledge, research shows that U.S. homeowners are losing up to $100 billion in wealth every year because they aren’t making good financial decisions. The U.S. homeownership market is the largest asset class in the world at $30 trillion, but it is essentially an “unmanaged” asset.
This is where Homebot can help. Created in early 2016 and based out of Denver, Colorado, Homebot is a dynamic, personalized financial dashboard that empowers homeowners to build wealth with the largest asset they will ever own — their home. Homebot has created a system of intelligence that connects loan officers and real estate agents to their clients on a regular basis, allowing homeowners to build on their wealth and keep their lender and Realtor top of mind along the way.
The core idea behind Homebot is that it’s not just about the transaction when it comes to a home; it’s the relationship before, during and after the purchase that makes a mortgage professional add value to homeowners. Homebot enables agents and loan officers to give their clients actionable, valuable home finance information that will make them wealthier and more financially savvy, and ultimately change their lives for the better.
Homebot isn’t an app that has to be downloaded, but it’s a mobile-friendly website featuring automatic content updates, co-branding opportunities for agents and loan officers, and client and lender notifications. In fact, a homeowner can only access the Homebot portal if invited by an agent or lender.
For more information about how Homebot can benefit homeowners, lenders and real estate agents, visit the company’s website.
*Intent does not endorse or recommend any particular products or services. The information contained in this article is for general information purposes only.
To better understand consumers’ comfort needs and how artificial intelligence (AI) impacts people making important purchases, artificial intelligence-powered call tracking and analytics platform Invoca surveyed 1,000 consumers in the United States. The findings were compiled into a report alongside data from Adobe’s Experience Index. At a high level, the survey results reveal the most important aspect of consumers’ brand experiences to be the emotional quotient (EQ), or brand’s ability to recognize and respond to the customer’s emotional state — especially in instances of high-value purchases. Respondents were polled about different brands’ use of AI (machines, chatbots, smart personal assistants, etc.), with survey results showing that Generation Z is most receptive to AI but all age groups still gravitate toward personal service and prefer it come from a human instead of a machine.
Those surveyed do believe AI is growing in importance, and some respondents — especially those younger in age — prefer a chatbot, for example, over waiting a lengthy period of time on the phone to speak with a person. However, Invoca’s survey findings highlight AI’s technological limitations regarding its inability to meet EQ consumers’ demand in order to convert them. But this will likely change over the next five years as technology advances and machines become equipped to better replicate human emotions, read people’s faces, and interpret expressions and exhalations such as sighs. Experts believe the ability of machines to integrate EQ portends rapid expansion of AI throughout all sectors.\n\nThe more immediate future of AI, as this report illuminates, is a combination of human and automated support. In terms of the mortgage shopper or potential homebuyer, experts believe it essential to connect offline conversations such as phone calls to the online conversations that drive them. If a mortgage shopper has been talking with a chatbot and decides to call the loan officer, the loan officer must have all the chatbot background info to ensure a seamless experience. Or, when consumers book appointments over the phone, marketers could use that data to suppress digital retargeting campaigns.
Longer term, it is conceivable that a customer starts and ends the homebuying process with AI playing a central role. Invoca and Adobe offer a platform that brings call attribution and analytics into their Adobe Experience Cloud to measure total marketing ROI, lower acquisition costs, and drive more revenue. With their call analytics platform, marketers can connect phone calls and conversations to the online journey and use that view to create fully customized experiences.
Jane.ai is a new platform for artificial intelligence, seeking to make the retrieval of information simple for its users through calls to action consisting of casual language. This is especially helpful for busy mortgage loan officers who are always on the go but need to be available to answer their clients’ questions. Integrated with Encompass and AllRegs, Jane.ai allows loan officers to save hours each day searching through customer files and regulations. Jane.ai is accessible on any device through Slack, Skype and more, and is thus at users’ fingertips no matter one’s physical location. Founded in St. Louis, Missouri, Jane.ai is backed by midwestern investors. Inspired by statistics showing the large amount of company time wasted in searching through various venues for information, Jane.ai sought to find a solution.
The three main functions of Jane.ai — integrating with key systems, mining documents for information, and capturing your team’s tribal knowledge — make the fully functional artificial intelligence system your best personal assistant. Voted Best Show at Digital Mortgage 2018, the Jane.ai software is being recognized on a large scale. Jane.ai is already followed by the likes of Washington University in St. Louis and USA Mortgage, and is growing at a rapid pace and being utilized by many different industries. From HR systems, to customer service and help desk functionality, Jane.ai can serve many purposes. Jane.ai can save companies thousands of dollars each year by eliminating most administrative tasks. When “in the zone,” Jane.ai saves the interruptions required to search through systems, apps, websites, documents and more. Not only can Jane.ai search through your cloud drive; “she” can even search within the documents and files located there. The company time and money spent focused on important tasks instead of tedious research creates happier employees and managers.
Perhaps the most fascinating feature of Jane.ai is “her” learning ability, through the chosen “CoPilot” of the software. If there is a question asked for which “she” cannot find a fast answer, the inquiry is passed to a human designed as the CoPilot. After the answer is provided to Jane.ai, it is returned to the initial inquirer, and Jane.ai stores and remembers the answer permanently, in case the question is asked again in the future.A great solution for anyone in the mortgage industry who prefers spending time nurturing customers instead of diving into countless venues to hunt information, Jane.ai offers a more efficient way to schedule your day. Investing in artificial intelligence technology can be the key to more lucrative business.
More about Jane.ai is available here.