Auto Quotes/Multiple Quotes

Not sure if this is the right place to post this complaint but I hope people see this and provide some insight. Zillow is a great place for both lenders and customers but there are two big problems in my opinion. Auto quoters that spew out a blizzard of quotes that are often inaccurate and misleading but in my opinion are a problem just in the sheer volume of quotes. I believe the intent of someone like this http://www.zillow.com/mortgage/LenderQuoteDetail.htm?qlr=true"e=ZQ-TKWCNFB
has the intention to crowd out his competition. The customer asked for TWO quotes not the six that Andrew provided. This is a very common problem on Zillow, even when the customer asks for a no point quote there will be multiple quotes for 1, 2 or even three points. Zillow should require lenders to stick to the orginal quotes that are requested. If they asked for a no point quote, GIVE them a no point quote. It's very confusing for the customer and hurts the truthful lender that is abiding my the customers request. Thoughts?
  • September 25 2009 - Rockville
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Answers (5)

Profile picture for daveskow
Agreed  wholeheartedely
  • September 25 2009
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Hi Brent. This is the 1000th post about this topic. I agree, but it comes with the territory.
  • September 25 2009
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Profile picture for shapiroamg
  • September 25 2009
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Brent,

We are trying to crack down on inaccurate quotes and have already suspended a few that were mentioned on some of the threads.  As for the number of quotes we have been asking lenders to limit their quotes to 3 per loan program.  I understand that some borrowers may feel a little overwhelmed when seeing these quotes, but I have also heard others who really like seeing the different options and then using the filters to sort out the loans they really want to look at.
  • September 25 2009
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Nida,

Thanks for the candid answers. I am glad to hear that you are asking quoters to limit themselves to three but I believe there is ample evidence that simply won't happen. Unless Zillow takes action against them it is unlikely to stop. I am sure some people do like them but if we limited ourselves to three quotes I still think they would have plenty of quotes fom which to choose. They just wouldn't have 30 or even 50 at times. Do they really need that many or are they just getting confused. Here's hoping ZMM changes the policy and changes it soon.
  • September 28 2009
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