Let's be honest: most loan officers who buy Zillow leads are losing money. They pay $50–$150 per lead, get a shared contact who's already talked to three other LOs, and either can't reach them or can't convert them. Then they blame Zillow.
But here's the thing — some LOs convert Zillow leads at 5–8%. Same leads, same price, dramatically different results. The difference isn't the leads. It's the system behind them.
Why Zillow Leads Are Different
Understanding Zillow lead behavior is the first step to converting them:
- They're shopping — Zillow users are browsing properties, not looking for a lender. Your name showed up because Zillow sells advertising, not because the borrower chose you.
- They're shared — Multiple agents and lenders get the same lead simultaneously. Speed wins.
- They're early in the process — Many are 3–6 months from buying. They need nurturing, not a hard sell.
- They expect instant response — They clicked a button on their phone while scrolling listings. If you don't respond in minutes, they've moved on.
The Speed-to-Lead Framework
This is non-negotiable. The LO who responds first wins the Zillow lead game. Not "first within the hour" — first within minutes.
The Data Is Clear
Responding within 1 minute gives you a 391% better chance of converting versus responding at 5 minutes. At 30 minutes, the lead is effectively dead — they've either connected with someone else or forgotten they submitted the form.
Your automation system needs to handle the first touch instantly:
- 0–1 minutes: Automated text message — "Hi [Name], I saw you were looking at homes in [Area]. I'm [Your Name], a local lender. Are you looking to get pre-approved?" This isn't spammy — it's responsive.
- 1–2 minutes: Phone call attempt — You or your team dials. If they answer, you're already ahead of 90% of competitors.
- If no answer: Voicemail + second text — "Hey [Name], just tried calling. When's a good time to chat about your home search?"
- Day 1–3: Multiple follow-up attempts via text and call (minimum 6 touches)
- Day 4–14: Email drip with value (market updates, pre-approval benefits, local insights)
The First Conversation
When you connect, don't lead with rates. Zillow leads don't care about your rates yet — they care about their home search. Ask questions:
- "What areas are you looking in?"
- "How long have you been searching?"
- "Have you been pre-approved yet?"
- "What's your biggest concern about the buying process?"
Position yourself as a guide, not a salesperson. Once they trust you, the pre-approval conversation happens naturally.
The Long-Nurture Game
Here's what most LOs miss: 70% of Zillow leads won't buy for 3–6 months. If your follow-up stops after week one, you're abandoning the majority of your investment.
Set up a long-term nurture sequence in your CRM:
- Monthly market updates — Local data, not national news
- Rate alerts — "Rates dropped this week. Here's what that means for your budget."
- Listing alerts — If your CRM supports it, send new listings in their target area
- Educational content — Blog posts and videos answering their questions
- Milestone check-ins — "Still looking? Here's what's changed in [Area] this month."
The LO who stays in touch for 6 months closes the deal. The LO who gives up after 2 weeks paid $150 for nothing. Patience + automation = ROI on Zillow leads.
Should You Even Buy Zillow Leads?
Honest answer: it depends on your system. If you have fast automated follow-up, a disciplined call schedule, and a long-term nurture sequence, Zillow leads can be profitable. If you're relying on manual follow-up and checking leads when you "get a chance," you're burning money.
Before investing in Zillow, make sure you have:
- An automated speed-to-lead system that fires within 60 seconds
- A CRM that tracks every interaction and queues follow-up tasks
- A 6-month nurture campaign for leads that aren't ready yet
- Realistic expectations — plan for 3–5% conversion rate, not 20%
The ROI Math
100 Zillow leads at $100 each = $10,000 investment. At 4% conversion, that's 4 closed loans. If your average commission is $3,500, that's $14,000 in revenue — a 40% ROI. Not spectacular, but profitable. And if you build the organic lead generation channels simultaneously, you reduce your dependence over time.
Alternatives to Consider
Zillow isn't the only paid lead game in town. Consider diversifying:
- Google Ads — Higher intent, you control the targeting and landing page
- Facebook Lead Ads — Cheaper per lead, requires more nurturing
- Realtor referrals — Free, high-converting, and relationship-based (co-marketing guide)
- Database reactivation — Your past clients are warmer than any Zillow lead (database marketing guide)
The smartest approach is multiple channels with a system connecting them all. Don't put all your budget in one basket.
Zillow leads aren't bad leads. They're cold leads that require a specific system to convert. Build the speed-to-lead automation, commit to long-term nurture, and track your numbers ruthlessly. That's how you turn Zillow from a money pit into a profitable channel.