Mortgage leads are like a box of chocolates, you never know what you're going to get. That is why it is so important to do your research before you invest.
When shopping around for a lead company, you want to ask yourself six easy questions about the leads you are going to invest in.
WHO, WHAT, WHERE, WHEN, HOW, and WHY.
Who is the person trying to obtain the mortgage? Are they serious about their purchase, or are they looking to buy six to eight months down the road once their lease is up, and they save some money?
Look for lead companies that weed out these types of leads, and will send you only potential customers looking to purchase within thirty to forty-five days.
What exactly is it that they are looking for? Are they looking to purchase, refinance, obtain a construction loan, or purchase land?
Make sure the lead companies have parameters on their applications to make sure the potential customer can be specific about what they want.
For instance, if a customer wants to refinance their home to purchase a new roof, because their existing roof has caved in, chances are, the appraisal won't come in. We all have compassion, but this is not a good situation for a loan officer spending their hard earned money.
Where are the leads coming from? If a lead company is buying their leads from other companies, then these leads are considered old or recycled. They will however be very cheap, but remember, quantity is not always as good as quality.
When is your customer looking to purchase? If they are looking to purchase thirty to forty-five days from now, great! If not, then you might be waiting a long time for your ROI.
How many other loan officers have contacted your customer? Most lead companies sell their leads up to four times if they are being sold non exclusively. Make sure you find out the amount of times your lead company sells their leads to loan officers, and if they recycle them to other lead companies.
Why is this person applying for a loan? When you receive a lead from a lead company, there should always be a comment section where the potential customer can state the purpose for the loan and ultimately describe their needs. This way you can do a little research to discuss the programs you can offer that would be suited to their needs.
It is important to do as much research as you can about mortgage lead companies before you start investing your hard earned money.
Visit their web sites, and check out their return policy. Call and speak with a representative, and ask if they will allow for a free trial.
When you are ready to commit to making an investment, do it with a lead company you are comfortable with that has a reasonable minimum deposit to start with.
The more research you do, the better return on investment you will receive.
Good luck with your leads!
Jay Conners is a former loan officer with more than fifteen years of experience in the mortgage business. You can learn more about the mortgage lead industry and how he became involved in it by visiting his site at http://www.jconners.com a mortgage resource center. He also owns http://www.callprospect.com a mortgage lead company.
I'm about to reveal the biggest secret to growing any... Read More
My wife and I watched the movie Ray a couple... Read More
Too many sales letters are shaped into paper airplanes and... Read More
The art of backend sellingThe backend sale can be more... Read More
What does it take to make a sale lately?In Sales,... Read More
During the introduction of the "Stop Selling!" philosophy, we typically... Read More
For many individuals in business the hardest part is selling.... Read More
What was the quickest rejection you ever got? 2 minutes... Read More
Unquestionably when the word hypnosis pops-up in a conversation or... Read More
Here's the thing... you still have to make every marketing... Read More
A study done by the Association of Sales Executives revealed... Read More
Are you tired of excuses? Looking for a persuasion technique... Read More
Mastering the "art of selling" is simply knowing how to... Read More
In the day-to-day operation of an online business we can... Read More
The following 7 sales skills are what I have found... Read More
Almost all Internet Marketers have a basic idea of what... Read More
Emotion and reason mix very well together to make excellent... Read More
People are always looking for ways to close the sale.... Read More
From surveys and experience, we've noticed many setting excellent goals... Read More
Imagine...you inquire about a product. The salesperson does everything right.... Read More
We've all heard the term KISS at one time or... Read More
I put together this little article because, although basic, we... Read More
1) QUICK FOLLOW-UPSWhen you make your first sale, follow-up with... Read More
Q & AQ. Sometimes when I'm presenting to clients, I... Read More
Solving people's and organization's problems is ultimately what business is... Read More
Mention the word sales or salesman and two out of... Read More
We are each responsible for our own success - or... Read More
Today's business environment is intrinsically tied together by ongoing information... Read More
When Thomas Edison's light bulb finally burned for 45 straight... Read More
It's a common question we come across everyday: why is... Read More
How do you persuade someone to do what you want... Read More
If a store had a great discount in the middle... Read More
All closes are not created equal. Top producers realize every... Read More
Statistics state that 55% of people judgments are made based... Read More
Some years ago I read and interesting story that illustrated... Read More
There is no magic pill, trick, teqnique, system or secret... Read More
Language is one of the most important tools you have... Read More
Performance and motivation are like chocolate & peanut butter; the... Read More
"Yeah right!" I thought to myself as I started to... Read More
Solving people's and organization's problems is ultimately what business is... Read More
Sales marketing online is an art that you must keep... Read More
What are you selling?Coaching? Consulting? Professional services? A product? Information?To... Read More
So -- you've just gotten off of the phone with... Read More
There is little doubt that eLearning has not achieved the... Read More
There is a car commercial running were a husband is... Read More
Your mission as a business owner is to develop a... Read More
All closes are not created equal. Top producers realize every... Read More
A Revolutionary 'NEW' Dimension In Sales: Make many more closings... Read More
These are the top 7 safety tips that criminals don't... Read More
Several weeks ago I asked my Newsletter subscribers to send... Read More
"Leadership rests not only on outstanding ability. It also rests... Read More
I saw something in town the other day that just... Read More
Let's face it when it comes to cold calling many... Read More
Many business owners and professionals are appalled at the thought... Read More
Friends buy from friends. Why? Because people trust that their... Read More
Did you ever meet someone with whom you just clicked?... Read More
Using cartoons can help brand your marketing and drive home... Read More
I worked for years as a mortgage loan officer. During... Read More
Cold calling may now be outdated. People have become defensive... Read More
Looking for a way to handle rejection?Edward W. Smith, motivational... Read More
1) QUICK FOLLOW-UPSWhen you make your first sale, follow-up with... Read More
There's an old saying, "Don't air your dirty laundry".If you're... Read More
Here's a surefire method to guarantee you achieve the best... Read More
I'm constantly amazed how otherwise smart marketeers become deaf, dumb... Read More
If you've been in sales for any length of time,... Read More
1.- REMAIN VERY CLIENT FOCUSED! Not Company focused. Your clients... Read More
Sales Training |