Borrowers, Are Your Quotes Not Good Enough?

In order to see ALL quotes submitted, you have to return to your quotes after the initial surge and answer yes to " Do you want to see more quotes ", that will enable all Custom quotes to be populated into the mix. If you have any notes to lender that dont seem to be addressed in the initial wave, they will be on the Custom quotes.  
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August 25 2009 - Atlanta
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Replies (65)

Clay,
Zillow has really made it difficult, not only for the borrower, but for the lenders who do not auto-quote.
A borrower shouldn't have to click on yes or no to anything at all.  When a new quote comes in the borrower should get an e-mail notification of the new quote.
What purpose is Zillow serving by blocking quotes, after the initial avalanche of quotes from API lenders?  Most borrowers get lost with the new format.  How does Zillow expect the borrower to know to clic this or that?  I think Zillow knows 95% of the borrowers won't and the quotes seen will be by the API lenders.  Pretty sad I think.
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August 25 2009
I agree, just posting this again for selfish reasons as I have 3 quotes I want seen. There should be a banner telling them to come back a few hours later once the slow, but often more accurate quotes come in :)
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August 25 2009
Is this true?  Why?

It would be nice to hear from Zillow on why the consumer does not see all the quotes.  Its not fair to the customer... If Zillow is concerned with the consumer getting the best quote, why wouldn't they see all the quotes?

I was wondering why I have less people reviewing my quotes today versus in the past.  When did this start?
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August 25 2009
Why?


Because auto quotes generate revenue.  Manual quotes do not.  Pretty simple...
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August 25 2009
I did not realize Zillow got money for auto quotes, too. 

But, it would not affect their income stream if the customer was able to view all quotes at one time....so, its not so simple for me to understand this reasoning.

It would be great to hear Zillow's reasoning and thought process.
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August 25 2009
Bob,
I talked to Nida about this today.
My quotes don't get viewed anymore since Zillow started this game.  I was wondering why because my pricing is with everyone else.
It seems the door is being shut on lenders who are not using API.  What ohr reasoning can Zilow give?
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August 25 2009
Bob;

  It is not that the borrower can not go back in to see the quotes.  The question you should be asking is why would they.  We hammer home that as a borrower you need up to date rates and Zillow has accomodated by having a nice little "repost request" button so the borrower does not even need to retype the information.  Just click the button and a bunch a fresh quotes come flying in..
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August 25 2009
Joe,
Please read Clay's opening argument.
The borrower should not have to hit, "repost," to get up-to-date rates.  Instead, the borrowers should be notified when new quotes come in.
Having a borrower taking more than the simplist of steps is going to do nothing but agitate and turn off his or her mind-----kind of like what it is doing to me by typing this right now.
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August 25 2009
I think the reasoning and thought process is pretty simple for Zillow.

$$$$$$

As manual quoter, for a one-time $25 fee, you get what you pay for.  All the manual quoter complaints would be justified if they were paying a subscription fee or a fee per quote.  Since they pay nothing, why should Zillow worry of their concerns?

The API pay either per quote or monthly for the service, and I'm sure Zillow gets a cut of that.   Of course they would want to design the ZMM to cater to this method.
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August 25 2009
Of course it would Bob think about it for a second. If as a business owner you have two clients, one (let's say Allen Mische just for fun) who pumps in thousands and thousands of .25 revenue hits and another (let's say Clay Branch) who does not generate any revenue whatsover for the business.  Which one of the two are you going to attempt to give the advantage to?  The one who is making you tons of money or the one who is not?
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August 25 2009
Oh I agree with you Greg.  Just offering an reasoning/excuse that Zillow will use
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August 25 2009
Well I can tell you that the hidden world of the auto-spammer is goiing to soon be exposed one way or another. It's unbelievable how so many of these people downright scam the consumers. Before yesterday, I thought it was bad, now I know its really bad and I truly believe that more than 50% of the people quoting here have absolutely no intentions of delivering the quotes they make ... and I have proof of it.
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August 25 2009
Okay, gotcha.  I didn't know Zillow got a cut of that...  And, I just figured they were paying for the convenience and number of quotes they can generate.  I didn't think they needed any other advantages.... What a shame.

They already have the advantage of generating 8+ quotes per request and they are always the first quotes the customer sees.  And, users have a built in excuse for bad quotes...lol

I wouldn't mind doing auto quotes, but I don't believe them to be reliable at all... boy, are we (manual quoters) in a pickle.  
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August 25 2009
It has been enlightening..to say the least!
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August 25 2009
I think that what has been discounted, by Zillow, for quite some time is the the fact that the backbone of their success on ZMM has been from the manual quoting lenders, not the API lenders. 

A company can throw as much money at a website as it wants, but if it isn't worth a damn in terms of integrity what does it matter?

If Zillow would tally up all the loans done and all the satisfied customers who had great success with lenders it would come as a shock to them that we have created the success and not the, "New Breed," of lenders: API quoters.

If ZIllow allows for such quoting abuse, even for the amount they get in royalties etc., from API, the revenue stream will eventually collapse as borrowers will simply stop putting in loan requests and good, professional lenders will slowly drift away from the site-----I have.  Why quote when it doesn't even get viewed?  Better time spent doing blogs, working on my website etc. Zillow borrowers contact me directly most of the time these ddays without me quoting.
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August 25 2009
I have to agree with you Greg.  95% of our quotes aren't even looked at anymore. 

This practice does not seem ethical to me.
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August 25 2009
Well, I want to thank all of you for enlightening me. I had no idea of what was going on in terms of the, "new format," concerning the borrower's inability to view loan quotes etc.  I just assumed that the borrower didn't feel like flipping through tons of quotes to get to mine . . .

In addition, I have noticed that when I do quote, it is buried somewhere in a pile and not on top, like it used to be. That makes no sense at all. What I do see is a quote given way before mine that is on top.  Again, what is the advantage to Zillow other than having the borrower view the API quoter and burying a custom, legitimate quote by one of us?  Yeah, yeah, I know it is a rhetorical question . . .

Hey, Vin Diesel----I hope you are reading all this by us.  I have noticed you have been keeping yourself very scarce on the threads and not jumping in to clear things up.  At least no one has to read a rubbish post defending the API quoters.  That is a relief in and of itself.
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August 25 2009
Thank you for the knowledge.  I too was wondering what changed.  I was gathering from my experience that custom quotes are worthless now.
 
Hmm..gonna need to add a bit to the disclosure...I'm thinking of: "This was generated automatically by a third party computerized pricing engine...using a credit score and other data selected from the range you provided.  Adjustments to rate and/or cost may apply due to your particular situation.  There are no warranties express or implied as to the accuracy of this pricing engine. Please call 1-8..."

Does anyone know of an inexpensive monthly API engine? Feel free to contact me directly!
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August 25 2009
Observances of manual & API quotes in my area... I've notived that there are maunual quoters, who openly state they are maunal quoting, and that this practice is in some way superior to API qoutes.

Funny thing is, they post quotes about 20 minutes after the request was made and their quotes are regulary an 1/8 to 1/4 below all other quotes.

Seems the manual quoters have the benefit of seeing the accurate API quotes prior to posting their own quotes...

Things that make you go Hmmmm...
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August 25 2009
Its no advantage if the borrower never sees the quote.  I personally do not look at other quotes when creating my own.

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August 25 2009
Things that make me Go HMMM!

14 Quotes on one loan request...How is that straight forward?
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August 25 2009
And we all know people ALWAYS mention the website in their reviews. 
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August 25 2009
I am not passing any Judgement just my opinion!

It has been my experience that when a company is named something like integritry mortgage...it is the goal of the person that came up with the name to appear to have what the name implies...in reality it is exactly what they lack!

Straight forward Mortgage...OK
My Faith First...Sure
203K Specialist..Whatever (Of course I am the exception to this rule)
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August 25 2009
Andrew,
Good to see you in good humor this morning.  :-)
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August 26 2009
Andrew, your comments are both juvenile, yet amusing. They only serve to show just how much you don't know and make it plain and clear that you don't belive in provididing your clients options.

In my observance it's ALWAYS the people who believe themselves to be the  "exception to the rule"  that are usually are ones breaking the most of them.

Andrew, I truly wonder what you could accomplish if you were to engage in only positive contributions to the Zillow Mortgage Marketplace.
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August 26 2009
James..I would concentrate on making sure your own house is in order before casting stones.  Given the notes in the review tell me how Shannon closed this loan in the first 14 days she has been signed on.

http://www.zillow.com/profile/SFL-Washington/Reviews-received/

When you ask her about it, mention that spamming your website on every thread from the past 8 months regarding the the Tax Credit is not allowed here.

You may want to add a couple of initials to SFL....BS
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August 26 2009
This coming from the guy who tried to pass himself off as the "Zillender" until zillow made him stop.....Yep, straight forward is the first thing that comes to mind.
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August 26 2009
Pretty funny how he spends the day pimping his website and manages to even get his "closed clients" to pimp it for him as well in their review ... link an all. It's almost as if ...

 
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August 26 2009
Gregorio, Nic & Joe... I don't know whether to laugh at your feeble digs, or feel sad for you guys because you going the way of the dinosaurs. Dinosaurs had there had their place at one time but then the enviorment changed on them and wipped them out.

So'll just humor ya'll for the time being.

Let's see:

Joe, first, we have the file & HUD and initial Zillow loan request for that individual on file, so no worries their.

Nic, The Zillender drew so many loan inquiries that I stopped useing it because EVERYBODY thought I was the "Official Lender of Zillow" and it was letting them down when I would say I wasn't.

And of couse Gregorio... "G" they say, Pimpin' Ain't Easy and well, If I had your website I wouldn't want anybody seeing it either.

Now boyz... I wish I could hang out and bust with ya' all day, but I have loans to do and clients to meet with.

So ya'll have a good day now, and remember to keep the sunny side up!
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August 26 2009
James..We are not dinosaurs. We just do things right the first time and do not need campy little slogans to drive business.As for Shannon, just so I am clear.  She signed up on Zillow on the 8th, quoted a request, tooked the application, and closed the loan in 14 days with what we can only deduce had a swtich in original investors because of value issues..
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August 26 2009
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