New Zillow service protects borrowers' privacy

New Zillow service protects borrowers' privacy

Let’s face it, none of us like dishing out our personal information online, especially to a company we don’t know or haven’t done business with before. It can result in all sorts of unpleasantness, including spammy emails.

Zillow, the real estate valuation website, is launching a service that I think is simply brilliant. Mortgage Marketplace lets borrowers get quotes anonymously, and at the same time provides free leads for lenders. Can you say “win-win?”

“Borrowers fill out detailed loan request forms but do not provide any personally identifiable information… The borrowers get e-mail alerts and can choose which quote and lender they want. Zillow vets the lenders so only reputable ones can offer quotes… The quotes must… disclose all fees and Zillow estimates the taxes, insurance, and monthly payments, making comparison shopping easier.” CNet

Wow! As a marketing consultant, I’m always trying to dig out my client’s Unique Selling Proposition. But this — this is a no-brainer!

I predict privacy will become an even more urgent problem in the months and years ahead. (Can you say TJX and Hannaford?) Savvy companies like Zillow will proactively offer ways to protect their customers’ privacy while still providing value-added services.

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