Hello all: I just wanted to share with you that I received a call from a borrower today who may use me for a loan. He found me on Zillow Mortgage Marketplace. We'll see what happens because he is a first-time homebuyer.
When I initially signed up for Zillow Mortgage Marketplace, I was obviously intrigued about only having to pay $25 for leads. Then, I went through the drill and got nothing. Fortunately, both Spencer and David were very encouraging (thanks guys) and suggested ways I could improve my message, etc.
I'd like to share what my potential borrower related. One, he was looking for a local lender and two, he wanted to know if he could really qualify for what he thought he could. The bottom line is I think Zillow Mortage Marketplace allows the consumer to anonymously check into mortgages which they like. Obviously, us loan officers would like a little more control in the process but, so far, I'm planning on staying a part of ZMM.
One comment I would make to all of you who are already on there. One, make it local. Yes, borrowers can choose you if you're out-of-state and yes, I can lend in every state in the nation. But why? We're still in a pretty people oriented business and let's face it, how strong a long-term relationship can you build with a borrower if you're in Florida lending in Oregon? Also, I sense there are lenders on there producing anonymous quotes just to see what the competition is doing. How do I know? When I see numerous quote requests from small towns, it makes me wonder. If you're doing this, don't insult our intellligence. It's also a waste of your time and mine.
Again, thanks for reading. Thank you Spencer and David as well. In these trying times, you've come up with a solution that, although not perfect in our eyes, works and actually adds to our opportunities. Have a great evening!