Mortgage Leads You Get What You Pay for
Below is a MRR and PLR article in category Business -> subcategory Sales.
Mortgage Leads: You Get What You Pay For
Overview
Choosing the right mortgage lead company can significantly impact your success as a loan officer. With numerous options available, each company has its unique method of acquiring and selling leads. Remember: you get what you pay for.
How Lead Companies Operate
Mortgage lead companies have different approaches to selling leads:
- Cherry-Picking: Some companies allow you to select specific leads.
- Filters: Others let you set criteria to narrow down leads.
- Bulk Sales: Many sell leads in large quantities.
Pricing and Quality
Lead prices vary widely, depending on the quality and source:
- Recycled Leads: Often purchased in bulk from other companies and resold.
- Example: For $100, you could buy 50 recycled leads at $2 each. While seemingly cost-effective, these leads may be outdated and less likely to convert, wasting both time and money.
- Real-Time Leads: Freshly acquired, typically less than ten minutes old.
- With $100, you might receive 5 to 8 real-time leads. Though pricier, the chances of closing deals with these leads are much higher.
Importance of Source Verification
Understanding where leads originate is crucial.
- Avoid leads that have been recycled multiple times.
- Common pitfalls include calling prospects who say, "You’re the twentieth person to call me this week," or "I closed that loan last month."
Choosing the Right Lead Company
- Conduct Thorough Research: Engage with company representatives to learn the source of their leads. If they cannot provide clear answers, it’s wise to look elsewhere.
- Prefer Companies with Direct Sources: The best lead companies operate their own websites, allowing prospects to fill out applications directly. This ensures fresh, unique leads and reduces the likelihood of repeated sales.
Conclusion
Investing in quality leads requires careful research. Ensure you understand where your leads are coming from to maximize your return on investment. High-quality leads not only save you time but also increase your chances of a successful sale.
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You can find the original non-AI version of this article here: Mortgage Leads You Get What You Pay for.
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