Product Updates for Enhanced Markets: February 2024

February is all about connecting with the right person, a theme that also happens to tie together our latest product updates for agent partners. Here’s what’s new with Zillow Home Loans and connection call routing.

Zillow Home Loans

Group Text Introductions

• When transferring a client from the Premier Agent mobile app to Zillow Home Loans, you can now give them a personal introduction to the Zillow Home Loans loan officer you select via group SMS. 
• Similar to the existing group email option, the message is pre-populated. You’re free to edit as you see fit and send in seconds. 
• This saves agents time and helps clients maintain momentum when they’re ready to explore financing options.

Incentives Updates: Zero Appraisal Fees

• Beginning February 1, Zillow Home Loans will cover eligible borrowers’ appraisal costs. Note that this is replacing the previous $1,500 lender credit. 
• As we continue to invest in bringing the best lending solutions to buyers and partnership to agents, we evaluate and adjust our overall offering to deliver value to buyers where it matters most. 
• Through research and agent feedback, we have learned that eliminating upfront costs and reducing total closing costs is extremely valuable to buyers, and covering the appraisal costs allows us to accomplish both.

Connecting With Buyers

One-by-One Routing

• Fewer excess calls, as the call chain is completed once an agent picks up instead of calling the whole team every time. 
• A more equitable connection routing experience for your team members.
• Lower pressure as the connection calls go to one agent at a time rather than being a contest of who has the fastest fingers.

• Instead of broadcasting to multiple agents on the team at the same time, we will deliver connection calls to Flex teams by calling agents on the team one by one. 
• We’re piloting this method with half of all Flex connections at this time, and we’re excited for you to experience the following benefits:
• Agents can learn more about the connection call reporting and the connection routing pilot in our partner guide.

Missed last month’s updates? Catch up here.