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Zillow L.O. Police...vigilante justice is needed!

By Richard Sweum

Mortgage and Lending with 1st Security Bank NMLS #115765

June 10, 2008 07:30 AM

If Zillow doesn't raise the bar on loan quote requestors OR allow LO's to contact them directly, then each state should have 5-10 "zillow police" loan officers who can flag irresponsible LO's, get quicker responses from Zillow to remove crazy comments and fraudulent ratings.

Time and time again, I see obvious wacky quotes...sure, the consumer can sort them out eventually, but it's like trying to make your quote compete against one of those radio ad's that is pure "bait and switch."

I still think that being able to contact the borrower directly is the only real fix. Until then, I keep my expectations very, very low.

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Jason Sardi

Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC

Your Agent for Life

Rich - I think part of what will continue to draw borrowers to Zillow when shopping for a Mortgage, is that they can do so anonymously. That way they are not bombarded with phone calls and emails from Mortgage Companies. That said, it is probably not a bad idea to have "zillow police" to ensure somewhat accurate ratings & quotes and a better overall system.

Jun 12, 2008 08:21 AM

Richard Sweum

1st Security Bank - Everett, WA

Hi Jason...thanks for commenting! I was starting to think I was getting blackballed from my AR acquaintences because of my stance on neg-am.

Jun 12, 2008 09:13 AM

Jeff Belonger

Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ

The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Rich... I agree with Jason's statement..... Zillow was smart in not allowing to contact the borrower, which will and does bring more consumers. BUT... it's not good from my perspective, because I need to ask questions my own way, before I give quotes out. I just don't see how their way is good and safe for the average consumer.

jeff belonger

Jun 19, 2008 04:14 PM

Paul McFadden

Responsive Pest Control - Seattle, WA

Pest Control, Seattle, WA.

Rich: That's a good thought. The way I look at Zillow (and it appears I'm starting to have some success) is it just adds to everything else I do. If I called 100 leads I bought, I'd probably get a few opportunities. The same holds true for Zillow. I like the fact that it cost me $25 to join and their customer service has been great. I believe over time they will fine tune their model. It's very new and right now every LO is on there trying to win quotes. I would bet in another 6 months there will be less and less as people in our industry usually give up if they don't see results soon. And I think the LO who is successful on ZMM is going to have to do it for a while. Take care.

Paul

Jul 04, 2008 08:57 AM

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