Going Blindfolded into Zillow, Trulia and Other Websites ...

Because I am a firm believer in getting my name and expertise out via varying formats, I participate in many real estate-related websites and venues.  Today while reading the Q & A section of one of the other sites I take part in, I ran across a comment offered up by another lender.  This comment was regarding the huge number of "quotes" received by a potential customer to a rate inquiry on the site. 

It seems ... so far ... this inquiry had been responded to 180 times!  The question presented by this lender was ... "How many responses is too many or enough?"  It was obvious this lender was greatly frustrated, as well as a little confused, regarding the website's decision to allow the quote format or to allow that many quotes to be given. 

I have asked myself the very same questions many times.  Why would a potential customer have any faith in such a format?  And how does a potential customer begin to sift through 180 quotes, make any sense of them, or see any differences in the responders?  At what point does the number of responses to their inquiry go beyond ridiculous or unmanageable?  At what point does it become useless for another lender to respond? 

At what point does a customer just put on a blindfold and pick something ... or worse, give up?

I have been questioned many times about my decision to NOT provide quotes on sites such as this, even though many lenders think it a useful tool and important reason to be involved on the site.    

Especially in today's housing market and financial climate, detailed information and documentation of such is key to the quote and the transaction's outcome.  There are just too many variables and detailed questions that need to be personally addressed with customers to provide any reliable concrete answers and solutions through this limited format.  Once offered, it is hard to retract or change initial opinions and I find that customers do not react well to it.  I feel as a professional I lose my credibility and their trust. 

These other websites do provide our industry a service.  They are great vehicles and marketing tools for real estate professionals and provide great opportunities for contact with a vast amount of potential customers and referral partners.  They assist us by offering a simple and easy means by which to reach one another and communicate. 

I know my decision regarding quotes limits the number of contacts I make through these sites.  I prefer to pursue and forge relationships from these websites through their Question & Answer feature.  For the very reason this other lender brought to light, I can do it no other way.  I can only hope that those utilizing these website's Q & A forums read the information and explanations I offer and then react to the quality of those responses and the sincerity in which I try to provide them.  

Otherwise ... there's the blindfold!