"Mortgage and real estate people: I went LIVE on Facebook Wednesday August, 24th to talk through the Zillow issues of loan originators off-setting the cost of marketing for real estate agents. You might want to watch this! It may get crazy! I said some things that need to be said but that may not be liked. Sometimes somebody has to say things out loud. Today, I was that somebody!" ~ Ken Perry.
To be extra clear, we are not against Zillow because it is a tool on the internet that has distrupted our industry by putting public information and education into the hands of the consumers. And great business practices call for going where the consumers go. However, MLOs and the industry as a whole is regulated differently than car dealerships, furniture sales, and other businesses. We have to always obey the rules of RESPA and be the leaders in the market who practice ethically.
As the Best Friend to the Mortgage Industry the Knowledge Coop is committed to making sure that all LOs know what is legal and what is not, we would not be happy with ourselves if we didn't tell our best friends to watch out for potential hurdles and pitfalls that could come by not obeying the rules of the land.
We hope you find this information useful, or refreshing, or even inspiring, and if you have any thoughts//comments//questions please ask right away. We are here for the industry and envision a world where Mortgage Professionals are seen as heroes and not detractors. You can comment below, or email us at info@knowledgecoop.com, or even call us at 1-800-935-2128.
The Reviews Are In // The Secret Is Out