Closing Complex Loans Faster With a Digitized Client Workflow

Join us for a discussion on changes in market demographics, suppliers and how focusing on customer experience and a few simple steps during the mortgage loan process can close deals 3x faster. event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Home appraisal’s ugly history and uncertain future

This is Part I of a deep dive into the home appraisal industry. Today we explore the origins of the appraisal industry and its current lack of diversity.

The digital journey starts at acquisition

Download this white paper to learn how to build a tech-enabled acquisition strategy that will directly contribute to a lender’s ability to maximize profitability and remain competitive.

Real Estate Enthusiasts

Home shoppers aren’t the only ones using Zillow

Why scroll through Facebook when there's Zillow?

During the early stages of the pandemic, people flocked to Zillow as a way to pass the time in isolation. Makes sense, right? The housing market surged when COVID-19 began, so it’s reasonable to think Zillow-users were looking for their dream home.

But not all of them.

A majority of 2020 Zillow-surfers weren’t in the market to buy. In fact, according to a report by Omnis, 83% of users admitted to searching for homes with ZERO intent of purchasing. 

Omnis Panels, a leading provider of exterior and interior panel solutions, surveyed about 1,500 Americans about their Zillow habits – and here’s what they found: 

  • 44% of users say they use Zillow every single week
  • 44% of users say they spend an average of two hours per session

The question remains, what are users doing on Zillow if not looking to buy property? 

Americans are using to Zillow to snoop

Some are daydreaming about homes they could afford if they won the lottery. And others, are snooping (yes, snooping) on their friends and neighbors. According to the Omnis report, 62% of users admitted to using Zillow to look inside their neighbor’s homes.

Creepy, right? Maybe not. After all, in today’s seller’s market where buyers are paying well over the asking price for homes, people are curious – especially neighbors who see homes just like theirs being sold at a high price.

Let’s be honest, wouldn’t you want to know how much your neighbor listed their home for, and what exactly their home looks like to be worth that price? If you answered “yes,” you’re not alone.

Interestingly enough, 62% of users also admitted to looking up a friend’s house to see the purchase price. And what’s even more shocking is that 39% of users have snooped on their boss or manager’s home via Zillow.

Yes, your employees may know exactly how much you paid for your house, as well as the layout. 

Zillow-surfing – A new type of therapy

With so much downtime over the last couple of years, it’s no surprise American’s looked for ways to spend that time. According to those surveyed, 68% said they spent more time on Zillow during the pandemic than they did before. 

And unlike other social media platforms where users negatively impact their health, Zillow surfing has a positive impact. According to those surveyed, Zillow is “therapeutic” – even if you’re using it to be nosy.

3d rendering of a row of luxury townhouses along a street

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