Homie Real Estate Review - Financial Services MLM | Trust Score & Ratings

Founded2005

HeadquartersSalt Lake City, Utah

Trust Score94/100

About Homie Real Estate

Homie Real Estate is a network marketing company founded in 2005, based in Salt Lake City, Utah. They focus on providing financial services through a network of independent distributors.

Their compensation plan is a Stairstep Breakaway structure, allowing distributors to earn money through retail sales and team-building. With a Trust Score of 91/100 and a solid BBB rating of A-, they seem to have a good reputation.

However, it's essential to know that Homie Real Estate requires licensed representatives in most areas. Make sure to review their official income disclosure statement before diving in.

Pros and Cons

✓ Pros

Strong Trust Ratings
With an A- rating from the BBB and a 4.5/5 on Trustpilot, people seem to like their experience with Homie.
Low Risk Level
The risk level is considered low, meaning it’s less likely to be a scam compared to other MLMs.
Simple Compensation Structure
The Stairstep Breakaway plan is straightforward, making it easier for new distributors to understand how they can earn.
Real Estate Focus
If you're interested in real estate, this could be a good fit as it combines selling with industry knowledge.
Products at Wholesale Prices
Distributors buy products at wholesale prices and sell at retail, allowing for potentially better margins.

✗ Cons

Licensing Requirements
Most distributors need to be licensed real estate agents, which can be a barrier for entry.
Income Disclosure Warning
You should review the official income disclosure statement because earnings can vary widely.
Market Saturation Risk
Real estate is a crowded market; standing out can be challenging and might make it harder to sell.
Team-Building Pressure
The need to build a team for higher commissions can feel overwhelming or pushy for some people.
Potential for Low Sales
If you can’t sell enough products or recruit enough people, your earnings could be minimal.

Verdict: Homie Real Estate has some solid trust scores and a straightforward compensation plan, making it a decent option for those interested in real estate. However, the licensing requirement and pressure to build a team could be deal-breakers for many. Do your research and consider your comfort level with these factors before jumping in.

Best for: This might be a fit if you’re already a licensed real estate agent looking to diversify your income. If you’re not willing to get licensed or feel uncomfortable with sales pressure, it’s probably best to steer clear.

Risk Analysis

Homie Real Estate presents a relatively low risk for potential distributors, primarily due to its solid BBB rating and strong Trustpilot score. However, there are important considerations regarding licensing requirements and the need to review the income disclosure statement carefully.

Key Concerns

Requires licensed representative in most jurisdictions moderate
Many states mandate licensing for real estate transactions, which could limit participation.
Income potential varies widely moderate
Compensation depends on personal and group sales volume, which can be unpredictable.

Positive Indicators

A- BBB rating
Shows a level of trustworthiness and customer satisfaction.
4.5/5 Trustpilot score
Indicates positive experiences from many users.

Consumer Advice: If you're considering joining Homie Real Estate, be sure to understand the licensing requirements in your state. Review the income disclosure statement closely to get a realistic picture of potential earnings.

Frequently Asked Questions About Homie Real Estate

Is Homie Real Estate a legitimate MLM company?

Yes, Homie Real Estate is a legitimate MLM company. Founded in 2005 and based in Salt Lake City, Utah, they've received an A- rating from the Better Business Bureau and a solid 4.5 out of 5 on Trustpilot.

What products does Homie Real Estate sell?

Homie Real Estate primarily offers real estate services, such as home buying and selling. They also provide tools and resources to help users navigate the real estate market, which is their main focus.

How much can you make with Homie Real Estate?

Earnings with Homie Real Estate can vary widely. Distributors earn money through product sales and team-building commissions, advancing through ranks that unlock higher commission rates as their sales volume increases.

Are there any complaints against Homie Real Estate?

While Homie Real Estate has a generally positive reputation, some users have expressed concerns about the level of support provided. As with any MLM, experiences can differ, so it’s wise to do thorough research.

How does the compensation plan work for Homie Real Estate?

Homie Real Estate uses a Stairstep Breakaway compensation plan. Distributors start by selling products at wholesale prices and earn the margin difference, with opportunities to earn more as they build their teams and increase sales.

What is the cost to join Homie Real Estate?

The specific cost to join Homie Real Estate isn’t publicly detailed on their website, but typically, joining an MLM involves purchasing products upfront. Make sure to check their official income disclosure statement for more clarity.

What is Homie Real Estate's BBB rating?

Homie Real Estate has an A- rating with the Better Business Bureau. This rating reflects their commitment to resolving customer complaints and maintaining a good business reputation.

What are some alternatives to Homie Real Estate?

If you’re looking for alternatives to Homie Real Estate, consider other real estate companies like Redfin or Zillow, which operate on different business models. Researching multiple companies can help you find the best fit for your needs.

Is Homie Real Estate worth joining?

Whether Homie Real Estate is worth joining really depends on your goals and expectations. If you’re passionate about real estate and can handle the ups and downs of an MLM, it might be a good fit for you.

Does Homie Real Estate have a good trust score?

Yes, Homie Real Estate has a trust score of 91 out of 100. This indicates a strong level of trust among customers and partners, which is a positive sign if you're considering getting involved.

Compensation Plan

Plan Type

Stairstep Breakaway means you earn money by selling products and building a team of other distributors. As you and your team sell more, you can move up in ranks and earn more money.

How Earnings Work

Retail Profit: Buy products at a lower price and sell them at a higher price. The difference is your profit.
Sponsor Bonus: When you bring someone new into the business, you earn a bonus based on their sales.
Team Commission: You earn a percentage of the sales your team makes. The more they sell, the more you earn.
Leadership Bonus: If you reach certain ranks, you can earn extra bonuses based on your team’s performance.
Incentive Trip: Hit specific sales goals, and you might earn a trip as a reward.

Qualification Requirements

You need to maintain a minimum amount of personal sales each month to qualify for commissions.
To reach higher ranks, you also need to have a certain number of active team members.
Rank advancement depends on the total sales of your team, not just your own.