Zillow Starts Charging for Mortgage Leads

Zillow, which launched a mortgage market place for free in 2008, will now be charging lenders on a cost per lead basis. This announcement follows Google’s to test comparison ads for verticals like “mortgage“.

How much will it cost?
The market will determine the price for each contact; Zillow will not be setting price. Leads will vary by market and range from  $0-$100.  The price will be shown as part of the loan request, so lenders can use this information to decide which requests to quote. Lenders will also be able to set a maximum price to pay per contact. 

Mortgage lead generation is a very large market and the recent tax credit extension will only increase demand for mortgages in the near future.