Comments on: Questions About New Zillow Mortgage Marketplace http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace Internet, Web 2.0 and Real Estate Marketing Sat, 20 Mar 2010 19:15:32 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Gerald Romine http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-19231 Gerald Romine Mon, 21 Apr 2008 15:12:47 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-19231 This is capitalism and marketing in it's finest. Nobody is forcing the customer to fill out anything and those that choose to will be able to receive quotes quickly and easily(albeit with plenty of emails). For those in the business worried about competing with such a service you focus on "apples vs. oranges". They are competing for price which is a dangerous competition so you provide service which is always hard to find, in demand, and commands a premium. The experience you receive servicing your Mercedes is a lot different than that servicing a Nissan and Mercedes owners willingly pay much more for the service. But I'm a capitalist and will always embrace capitalism. Gerald Romine www.geraldromine.com This is capitalism and marketing in it’s finest. Nobody is forcing the customer to fill out anything and those that choose to will be able to receive quotes quickly and easily(albeit with plenty of emails).

For those in the business worried about competing with such a service you focus on “apples vs. oranges”. They are competing for price which is a dangerous competition so you provide service which is always hard to find, in demand, and commands a premium.

The experience you receive servicing your Mercedes is a lot different than that servicing a Nissan and Mercedes owners willingly pay much more for the service.

But I’m a capitalist and will always embrace capitalism.

Gerald Romine
http://www.geraldromine.com

]]> By: Rob Lawrence http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18924 Rob Lawrence Sun, 06 Apr 2008 20:18:47 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18924 Zillow has always been an innovator in the marketplace but I do worry about them getting a bit too far over their heads. Warm Regards, Rob http://www.battlecall.com Zillow has always been an innovator in the marketplace but I do worry about them getting a bit too far over their heads.
Warm Regards,
Rob
http://www.battlecall.com

]]> By: Louis Cammarosano http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18922 Louis Cammarosano Sun, 06 Apr 2008 14:48:25 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18922 Joel wrote "taking my info and then selling it on (as a lead) to the highest bidder. That business model should be taken out behind the woodshed, shot and disposed of appropriately, in my opinion." How is that different than taking your information and then pimping it out to advertisers? Both models result in a direct sale of the consumers information. In the rush to praise the "transparency" that Zillow is bestowing upon us, I think we are missing as Joe over at Sellsius noted- Zillow has become a Lead Seller, plain and simple. http://blog.sellsiusrealestate.com/zillowcom/zillow-mortgage-marketplace-is-lead-generator-for-mortgage-lenders/2008/04/03/ Whether Zillow claims its 'free' or 'transparent' they are still selling leads, just with a different model. So while you are busy taking lead generation models outback for assassination, keep some bullets ready for Zillow's new lead generation model. Joel wrote
“taking my info and then selling it on (as a lead) to the highest bidder. That business model should be taken out behind the woodshed, shot and disposed of appropriately, in my opinion.”

How is that different than taking your information and then pimping it out to advertisers?

Both models result in a direct sale of the consumers information.

In the rush to praise the “transparency” that Zillow is bestowing upon us, I think we are missing as Joe over at Sellsius noted- Zillow has become a Lead Seller, plain and simple.
http://blog.sellsiusrealestate.com/zillowcom/zillow-mortgage-marketplace-is-lead-generator-for-mortgage-lenders/2008/04/03/

Whether Zillow claims its ‘free’ or ‘transparent’ they are still selling leads, just with a different model.

So while you are busy taking lead generation models outback for assassination, keep some bullets ready for Zillow’s new lead generation model.

]]> By: Jon S http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18910 Jon S Sun, 06 Apr 2008 00:36:17 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18910 I'm a fan of the new Zillow mortgage program. It is a very consumer friendly program. No countless calls, just a fair square deal. Sure, there are some features that are missing for us as lenders(better determining which scenario's you've bid on, or ability to offer different combinations of points/no points), or could use improvement (like limits on fees that seem artificial). I’m a fan of the new Zillow mortgage program. It is a very consumer friendly program. No countless calls, just a fair square deal. Sure, there are some features that are missing for us as lenders(better determining which scenario’s you’ve bid on, or ability to offer different combinations of points/no points), or could use improvement (like limits on fees that seem artificial).

]]> By: Joe Dahleen http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18850 Joe Dahleen Fri, 04 Apr 2008 04:14:20 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18850 Where can you go as a consumer and get a quote without being hounded by the mortgage providers? I think Zillow is really going to change the game for lead providers. How can they sell those leads for so much now that Zillow is free? Most lead providers are changing anywhere from $9 to $35 for an internet lead that just sold up to 4 times. Yes, that's as many as calls they get and you never really get it writing unless you give them all of your info. Lending tree leads are more expensive and there lending division is who you are really up against. Zillow allows the consumer to review and research all they want and pick the one to contact without being contacted first. As a consumer - you can't do that anywhere else. Where can you go as a consumer and get a quote without being hounded by the mortgage providers? I think Zillow is really going to change the game for lead providers. How can they sell those leads for so much now that Zillow is free? Most lead providers are changing anywhere from $9 to $35 for an internet lead that just sold up to 4 times. Yes, that’s as many as calls they get and you never really get it writing unless you give them all of your info. Lending tree leads are more expensive and there lending division is who you are really up against.

Zillow allows the consumer to review and research all they want and pick the one to contact without being contacted first.
As a consumer – you can’t do that anywhere else.

]]> By: Zillows Mortgage Community. The Consumer is Ready, But is The Mortgage Professional? | The XBroker Mortgage Real Estate Marketing Technology http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18846 Zillows Mortgage Community. The Consumer is Ready, But is The Mortgage Professional? | The XBroker Mortgage Real Estate Marketing Technology Fri, 04 Apr 2008 02:36:57 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18846 [...] as leads to the mortgage hounds.  Thank God (Yahweh, Jehovah, Muhammad, Buddha, Jesus, et al).  Joel has the best remedy for this ad nauseam dinosaur age practice made sickeningly popular by [...] [...] as leads to the mortgage hounds.  Thank God (Yahweh, Jehovah, Muhammad, Buddha, Jesus, et al).  Joel has the best remedy for this ad nauseam dinosaur age practice made sickeningly popular by [...]

]]> By: Phil Caulfield http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18843 Phil Caulfield Fri, 04 Apr 2008 00:21:34 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18843 I've submitted a few quotes already to borrowers just to see what will happen. Zillow has some work to do. They limit the underwriting fee to $500. For equity lines they don't accept a negative margin. I like the concept - I think some kinks need to be worked out. They don't have a place to report these problems (unless I missed it) except on the discussion threads. I’ve submitted a few quotes already to borrowers just to see what will happen. Zillow has some work to do. They limit the underwriting fee to $500. For equity lines they don’t accept a negative margin.
I like the concept – I think some kinks need to be worked out. They don’t have a place to report these problems (unless I missed it) except on the discussion threads.

]]> By: Jessica G http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18837 Jessica G Thu, 03 Apr 2008 17:50:30 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18837 Hmm, looks a bit similar to a tool created by a little company called HomeGain. Check out Louis' post this morning calling Zillow out: http://blog.homegain.com/homegain-cries-flattery-zillow Hmm, looks a bit similar to a tool created by a little company called HomeGain. Check out Louis’ post this morning calling Zillow out: http://blog.homegain.com/homegain-cries-flattery-zillow

]]> By: Zillow Mortgage Marketplace is Lead Generator for Mortgage Lenders http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18831 Zillow Mortgage Marketplace is Lead Generator for Mortgage Lenders Thu, 03 Apr 2008 16:33:34 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18831 [...] FoRem; PhoenixRealEstateGuy; 3Oceans;TransparentRE; Lenderama; RCG (Rhoda Porter); SeattlePI (John Cook); Blown Mortgage; TechCrunch. [...] [...] FoRem; PhoenixRealEstateGuy; 3Oceans;TransparentRE; Lenderama; RCG (Rhoda Porter); SeattlePI (John Cook); Blown Mortgage; TechCrunch. [...]

]]> By: agentgenius.com- national real estate opinion column » Blog Archive » Zillow One-Ups Lending Tree With Mortgage Marketplace http://www.futureofrealestatemarketing.com/questions-about-new-zillow-mortgage-marketplace/comment-page-1/#comment-18828 agentgenius.com- national real estate opinion column » Blog Archive » Zillow One-Ups Lending Tree With Mortgage Marketplace Thu, 03 Apr 2008 16:10:29 +0000 http://www.futureofrealestatemarketing.com/new-zillow-mortgages-aim-to-bring-transparency-to-lending#comment-18828 [...] to Zillow’s launch has been fairly positive, though Joel Burslem asks whether the information the consumer receives may be too overwhelming (which just may be fitting in this RE 2.0 world): OK, so I submit a RFQ and the lenders can jump in [...] [...] to Zillow’s launch has been fairly positive, though Joel Burslem asks whether the information the consumer receives may be too overwhelming (which just may be fitting in this RE 2.0 world): OK, so I submit a RFQ and the lenders can jump in [...]

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