Mortgage Leads, Choosing the Best Option

When it comes to buying mortgage leads, there are many good companies out there for you to research, and many avenues to travel down when considering which lead type will work best for you.

While working as a loan officer, I dealt with my fair share of mortgage lead companies. Along the way, I bought my leads in bulk, I bought them fresh, and I bought them with a live transfer.

Researching lead companies is an important aspect when deciding to invest in one, but lets be honest with each other, we really don't know what we are getting until we begin to purchase them.

When I would purchase my leads in bulk, I would take $100.00 of my hard earned money, find what I believed to be the best cherry-picking site out there, and by about fifty leads at $2.00 each.

Now I know that you get what you pay for, and my goal was to close two at the most, and at the very least, one. Over the years this approach would occasionally pay off, but I had the feeling of working harder, and not smarter.

The next approach I took a shot at was the purchase of "real time " leads, or "fresh leads." I would take that same hard earned $100.00 and receive approximately three to five fresh leads consisting of purchase leads and refinance.

These leads I did not cherry pick, I would set up a filter before hand. The filter would be specific to state, type of loan, credit, ltv, loan amount. Etc.

When a lead came in and matched my filter, it would be stream lined directly to my e-mail account, and it would be roughly ten minutes old. I had a lot of success with these leads, but continued to keep all of my options open.

The other type of lead I decided to take a shot at was the live transfer lead. I believed this to be a wonderful concept, and a very efficient way of obtaining leads and increasing my applications.

I basically sat at my desk and waited for the lead company to transfer customers to me by way of the telephone. Sometimes this worked and sometimes it didn't. The problem was, there was no guarantee that I was going to answer the phone. I worked in an office with ten other loan officers, if I stepped away from my desk, they would end up in my voice mailbox, or if the phone went unanswered, the potential customer would hang up.

It is pointless to go into further detail, I think you get the picture, the live transfer at times could be a mess. Again, I felt as though I was working harder and not smarter.

Before investing with mortgage lead companies, make sure you do your home work thoroughly. Read the companies "terms of service," find out what their return policy is, call and speak with a representative, ask about a free trial. Does it consist of a free lead or some type of credit toward your first deposit? If they are confident in the quality of their leads, than they should not have a problem accommodating you.

I have had, and know loan officers who have had success with all of the above mentioned lead type scenarios. Some may work for you and some may not. But remember, if you find yourself working too hard to make the lead work for you, consider a different type of lead!

Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, both as a loan officer and a sales manager. He is the owner of http://www.jconners.com, a mortgage resource site, he is also the owner of http://www.callprospect.com

---

The Best Day In The Week

The best day of the week is TODAY, of course.... Read More

Keep the Referrals Coming

A key method of our survival in the business and... Read More

How to Lose the Sale Quickly & Easily

Here are five sure-fire ways to guarantee you will not... Read More

Handling Objections

HANDLING OBJECTIONSSales presentation is not always going to be plain... Read More

Sell YOU With Your Small Talk (Yes You Can)

Want to build a relationship -- sell yourself for a... Read More

Build & Protect Your Confidence

I can remember the first time that I had to... Read More

Finding a Used Mannequin

Many stores on a budget choose to buy a used... Read More

Warming Up To Cold Calls

Will you do just about anything, including sending out hundreds... Read More

Hurrican Selling Styles

As I prepare this issue of this Newsletter, at 37,000... Read More

Stop Talking - Start Selling

Selling is not talking. It's listening. You may have heard... Read More

12 Handy Tips for Generating Leads through Cold-Calling

Cold calling can be a great way to generate quality... Read More

YOUR Future Profits -- Protect Source With CARE

At 21 years, just out of Business College, I went... Read More

Overcoming the Fear of Selling

For many of you the Fear of Selling is a... Read More

Breaking the Ice and Winning Over the Client

Wherever you turn these days you'll find articles covering every... Read More

Get the Most Out of Your Current Customer

The customers you already have could be your biggest lead... Read More

An Introduction to Store Fixtures

Everybody is familiar with the old retail chant, "Location, location,... Read More

Dont Call Me

The March, 2004, issue of Psychology Today reports on an... Read More

Whats So Special About You? Defining Your USP

Your prospect is in the market for a widget, just... Read More

Five Things More Important to Buyers than WHAT Youre Selling - I

Article I of a two-part series.No matter what customers say... Read More

7 Strategies for Writing Fundraising Letters

Writing fundraising letters can be an effective way to request... Read More

6 Creative Questions To Move From HOW Are You To WHO Are You

Imagine you just met someone new. The formalities of names,... Read More

Obtaining Self-Confidence

A reader recently asked me the following: "I enjoyed the... Read More

The Anatomy of a Sales Letter

When Dr. Frankenstein exclaimed "it's alive... it's alive," he thought... Read More

How Sellers Can Take Control

For centuries ? at least since the serpent convinced Eve... Read More

How To Sell Your Products or Services on Value And Stop Selling On Price Alone

Have you ever met with, or talked to a prospect... Read More

Four Easy Steps To Building A Powerful Employee Incentive Program

Want to build a successful incentive program for your company?... Read More

Unique Selling Propositions

If you have competitors, then you should have at least... Read More

The Allure of Antique Store Fixtures

They say if you wait long enough, a style you... Read More

Do You Have Enough Prospects To Make Your Numbers?

Several years ago I worked with a CPA who wanted... Read More

Caring - The Secret Sales Strategy

Sales information resource Just Sell, calls caring "sales love". Here's... Read More

First, Fast, And Foremost . . .

First - being before all others. Fast - moving or... Read More

Cold Calling Pressure Reduction

Who likes cold calling? Most salespeople don't like cold calling,... Read More

Picture Yourself a Winner

In the work place, the amount of good things that... Read More