In 2011, the online real estate database Zillow partnered with Yahoo! Real Estate to create the largest online real-estate advertising site in existence. The site now lists properties for sale, helps consumers find agents in their area, allows prospective buyers to search and compare mortgage rates, and gives sellers estimates on the value of their homes. Over the last four years, Zillow has managed to expand its reach by purchasing real-estate listing sites like Postlets, Buyfolio, and Trulia. Not to be outdone, Google has now added a mortgage comparison feature to its insurance comparison tool called “Compare.” We’ll tell you what you need to know to set yourself up for success in today’s digital age.
People search for practically everything on Google, and it only makes sense that Google would try and enter the mortgage arena. To do so, Google partnered with LendingTree and Zillow. Compare has been up and running in the UK for some time and is currently in use in California. Soon, prospective buyers nationwide will be able to search for mortgages, read reviews, and compare loan rates on Google. This makes it more necessary than ever to get yourself listed on Zillow and LendingTree.
Google is good at what it does, and there’s little chance that it will fumble with its mortgage comparison tool. Users in the UK and California are saying that Compare is simple, user-friendly, and multi-faceted. In the end, Google Compare should prove beneficial to those lenders that know how to use it—in much the same way that Google search is a boon to any business that invests in search engine optimization. Ideally, Google Compare will allow the best lenders to rise to the top and garner more business than competitors.
Because Google Compare draws the majority of its information from Zillow and LendingTree, lenders need to invest some time in getting to know those sites. If you haven’t already done so, sign up! With Google Compare, the average consumer will have easier access to online reviews and rate comparisons than ever before. This means that realtors and lenders must put more effort into garnering positive reviews online.
Acuity is a national title agency that uses the latest technological advances to provide lenders and loan officers with unsurpassed title insurance, rapid closing support, and leading-edge CFPB compliance. In the same way that Google Compare will become a one-stop shop for mortgage shopping, we at Acuity have made ourselves a one-stop shop for title insurance, closings, abstracting, and notarization. For complete information on Originator IQ, the lending industry’s best-kept secret, visit our homepage.