March 24, 2016 | By RGR Marketing Blog

How to Set Your Mortgage Business Up for Success When Buying Mortgage Leads

With interest rates on the rise and housing values appreciating all the time, it’s become a very popular time to buy a home or to refinance an existing mortgage. But if you’re like most mortgage professionals, then you probably won’t object to having more exclusive mortgage leads to work with. After all, competition is fierce, and prospective borrowers have a lot of options to choose from.

Purchasing mortgage leads is a smart way to increase the volume of quality leads in your pipeline, but the real secret to getting the most out of your lead-buying experience is choosing the right provider. Here are some tips designed to help you do just that.

Find a Lead Partner for Your Budget

Some lead generation companies set high bars for entry, requiring substantial deposits to get started. Others have minimum purchase requirements. There’s nothing wrong with either of these policies; the important thing is to find a lead provider that fits your marketing budget.

Go to the Source

Some lead providers generate unique leads by leveraging their own extensive marketing reach. Others purchase leads from these companies and resell them.

Generally speaking, it’s preferable to cut out the middleman and get your leads directly from the source. You’ll save money and be able to deal directly with the originator of your leads, should something go awry.

Great Customer Service, Before and After the Sale

As mentioned in the previous point, the ability to contact the source of your leads directly is a definite advantage, but that’s only true if they offer excellent customer service.

Pay close attention to the level of care you receive when making your initial purchase. If you have a difficult time getting the type of service you deserve when buying mortgage leads, just think about the headaches you’ll have to deal with if you’re not satisfied with the leads you’ve bought.

You want a lead provider that knows the value of cultivating lasting business relationships, and not some here today, gone tomorrow operation only concerned with closing the initial deal.

Reputation Matters

Clearly, you want to find a lead generation partner with a sterling reputation, as a solid track record is a strong indication of future performance.

The Internet can be a two-edged sword in this regard. Yes, you can research potential partners online, but it can be difficult to filter out the noise. Read the customer reviews, and not just the ones featured on the company website.

You’d be well advised to check the BBB ratings of any lead generation company you’re considering dealing with. You may also wish to inquire with trusted industry colleagues and see which lead generation companies have brought them success.

Lead Management Is Key

It’s going to be up to your sales team to close the leads you purchase, and no lead provider can guarantee a 100% closure rate. Still, it’s best to choose a mortgage lead generation firm that provides its clients with a strong lead management system.

When it comes to making personal connections and building trust with mortgage clients, nothing beats the human touch. But when managing leads and making sure none of them slip through the cracks, a data-driven approach is often best.

Here’s to Your Mortgage Business

Whether you end up doing business with us or another mortgage lead provider, we wish you every success, and we hope the above points help you make the best decision for your business.

We at RGR encourage you to subject us to the same scrutiny you’d apply to any other partnership. Ask around. Check our BBB rating. We think you’ll like what you find, and we look forward to doing business with you soon.

[Photo via: Pixabay]

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