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photo, Joe Timm
ClickRSVP and ILS/Fiserv have introduced HomeValueBot, a product that allows online visitors to get free home value reports directly from lenders' websites.
"It's a good way to differentiate yourself, drive people to a lender's website and close more loans," said Joe Timm, director of sales for ClickRSVP.
After nine months on the market, lenders already using HomeValueBot have reported 27% click-through rates, increased activity in home equity applications and conversion rates of 7% to 8%. Currently, 12 clients, consisting of banks, credit unions and some brokers, are using the product.
Typically, Mr. Timm says consumers are so often inundated with direct mail or e-mail regarding financing, that this is a unique way to stimulate interest in a lender's loan products.
"Before, many times consumers had to pay to get a home value report. They had to have an appraiser come out. This really streamlines everything," he said.
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