Profile picture for William Doom

William Doom

Lender

Vice President of Mortgage Lending, (MLS ID), NMLS ID (11 years experience)

Specialties:
Purchase Loan,
Refinancing,
Home Equity,
Mortgage Planning

Advice

  • (54 Contributions,
  • 0 Best Answers,
  • 39 Helpful)

Contributions are sorted newest to oldest.

How to set a maximum contact price and edit a saved search

Response

 @DougNO I do not think "consumers and advertisers are reading these threads which have exposed a major level of dissatisfaction?"  Really no reason unless they are looking for somthing.I am with you on registration and informing leads/borrowers that there is a cost associated with the request. I had one lead from last week who responded "Just browsing, Thanks"I kindly responded, "please keep me in mind when you decide to enter the market, and please contact me directly, Zillow is now charging me to communicate and respond to request." Borrowers response: " I had no idea Zillow charged money to accept and receive emails.  It's pretty outrageous.  In any event when we are ready to move forward, I'll contact you."If they let browsers and shoppers know there is cost on our side associated with the quote, I feel browsers and shoppers would be wise when requesting.

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How to set a maximum contact price and edit a saved search

Response

It takes about 10 sec to set up a @mail.com email which will never bounce.  I am also still wondering why my account shows a negative balance owing, is Zillow waiting for me to pay them?  I did not think that was possible. 

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How to set a maximum contact price and edit a saved search

Response

The illusive new members have raised some very good points that all fall on Zillow, pointing out Zillow's over eagerness, to Milk the market before it slows.  Which again has caused aingst for Zillow's true Customers "We The Lenders".How Naive: " since you don't have to be a member to submit a quote, there is no code of conduct nor is there any agreement to follow such."12161773: "I would not put my money in a bank that failed to check id for withdrawals." PRevere: "just showing you how easy it is to see your money wasted away."You think Zillow would want to Keep its Paying members Happy and institute a Code of Conduct for all individuals requesting info.  Zillow appears to think the leads are there Customers vs. we the Lenders? I cant tell if the mystery persons are ex-Zillow employees, Lenders who want to conceal there identity or Current Zillow Customer Service Reps frustrated with the roll-out response?

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How to set a maximum contact price and edit a saved search

Response

In no way is this disrespect, I just find it interesting that Paul Revere an Alexander Hamilton members since 1/30/2010 have stumbled into a heated debate, on the brink of a Revolution.The insight and input is graciously accepted. Just curious as to why two brand new accounts with no other activity/advice posts would stumble into this thread?  I am huge proponent on FREE speech.Viva la Revolucion!

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How to set a maximum contact price and edit a saved search

Response

I wonder if those lenders not raising there voices are receiving the bogus erroneous spam hits that started last night, or if it is malicious attack on thoes of us bringing issues to the forefront? Convenient they started after hours on FRI?

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How to set a maximum contact price and edit a saved search

Response

We have asked how the pricing is Market based and Zillow has not responded. No FAQ, nothing. It sound cheesy and it has been said before; vote with our Marketing dollars.  Don't re-up your lender account.  We all survived as orginators before Zillow, I am sure we can survive for a QT or two until they see the light.When it all boils down we are the life blood of the marketplace.  There can be hundreds of thousands of quotes, if lenders are not quoting there is no market. Zillow, Do you think it is time you asked more then your select few of prestigious lenders how pricing should work?  Or maybe take a course in Economics. Market Based Pricing: Setting a price based on the value of the product in the perception of the customer. I feel bad for the $50 buyers, you can get a Live Transfer for that.

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How to set a maximum contact price and edit a saved search

Response

@Chris CoricaI have been asking for days how the market price was derived.According to David Gibbons, "DavidG" of ZillowIt was a select population of lenders they interviewed who set the market rate.Beyond that David was "So sorry to hear I can't satisfy your curiosity."I deduct from the response, that we lenders are not the Market and only a select few are steering the pricing.  Thus not a true market based pricing, more like a oligopoly.

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How to set a maximum contact price and edit a saved search

Response

Isn't being a beta tester so FUN!! I am still very curious as to how this pricing model works. I just saw a $50 lead, looked the same as the $30 one right below it? Do you think Zillow cares about any of these posts? Could it be they are  just dusting it off because the "Lenders" they interviewed and discussed this model with don't have a problem paying for a $30 phone call?

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