Use phone location and "location sharing"

I am trying to set up my S7edge so that it’ll trigger a change in mode (home vs away) when I come and go. I have turned on “Allow phone presence detection”. There’s also a “Use phone location” switch. When you turn that one, a message appears that ends with the following:

“your location information will be shared with other members of locations you belong to”

What exactly does that mean? Others that I’ve provided access to will be able to see if I’m home or not? Or will they actually be able to see my realtime location on some sort of map?

Just home or not I believe.