Zillow Mortgage Marketplace, a new source for consumers to request loan quotes. I don’t think anyone needs a description of the service, but what you do need is a few tips on how to strategically work this avenue for business. I have put together a top 4 list, yeah I couldn’t think of a 5th tip, so it is top 4 of tips to conquer and make money on the ZMMP network, lol.

Without these tips you could easily waste your time, your LO’s time and potential sales.

1. The consumers on the ZMMP network have a number of different scenarios and trying to accommodate them all with somewhat accurate pricing will be extremely inefficient and a waste of valuable time. My suggestion is to find 1-2 products that you specialize in and focus on quoting only the scenarios that will qualify for that product. This will allow you to have one set of pricing and speed through more quotes then you otherwise would.

2. You or your LO’s should not be doing this tedious work. They need to be on the phone closing deals. Assign a person from your admin staff to supply the quotes. This will be easy for the person to do even without a ton mortgage product knowledge, because you have assigned only one or two scenarios for them to focus on. Create a quick one-sheet of the basics they need to supply an accurate quote and nothing more. Keep it simple.

3. One problem companies are running into is trying to trace back the exact quote that was given to a person when they call in. Step one will help this issue, but another tip is to assign a designated team and phone number to handle the incoming calls. This could be one person or could be 10, what ever is necessary. Having a specific number will enable the assigned team members to recognize exactly where the call is coming in from and even designate a custom greeting. This will go a long way and give a competitive advantage right from the first call. Especially when your competitors are flustered and haven’t quite figured out how to properly work the ZMMP.

4. Lastly, this could be easier if Zillow placed this information on the preview window on the quotes, but click into the lead and use the “When the loan is needed” field to determine intent. You may not want to quote leads that are 60-90 days out and instead focus on leads that state they are looking to close within 30 days. Play around with this a little bit. You may find the exact opposite, I kind of doubt, but you may find that there is less competition on the leads that are 60-90 days out. I think it is safe to speculate that consumers looking to close within 30 days have a higher level of intent.

With the many issues that ZMMP currently has I think if properly planned and by using the tips I have presented here you will be able to attain a higher level of success.

Good Luck!!

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