10 Things to Remember When Requesting Mortgage Leads from Referral Business

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June 13, 2017 | By RGR Marketing Blog

How to Make Sure the Mortgage Leads You Get Are the Ones You Need

Mortgage companies, like most other service providers, largely accumulate clients through leads and referrals. And in some cases, a mortgage company may need to use a referral business in order to supplement its leads supply. This is a perfectly normal approach to maintaining a full sales pipeline, and in truth, it can really work for your business.

If your mortgage business is considering using a referral business to help increase its lead conversion results, here are ten things you should keep in mind before making your selection.

1) No Referral Business Can Guarantee 100% Closure Rates

Mortgage leads are just that: leads. And while the leads are verified by the referral business, it is ultimately up to your sales team to convert those mortgage leads into sales. If a referral business tells you that their leads are guaranteed to deliver 100% closure rates, then you should stay away from that provider. There is absolutely no way to guarantee that every lead will be a buyer, but because the leads are verified, it does increase your odds of closing.

2) Lead Pricing

Lead generation businesses charge a variety of different rates and every one provides different services. Before you select a mortgage lead provider, make sure they have a plan that’s within your budget and that it is a plan that will benefit your business.

3) The Actual Mortgage Leads

One of the most important questions you can ask a mortgage lead company is – “where do you get your leads?” This is an important question because a lot of referral companies simply keep recycling the same old leads over and over again. Some buy their leads in bulk from other companies and resell them as their own. You want to use a mortgage lead company that can provide you with customized list of verified leads based on your unique target criteria.

4) Quality vs Quantity of Mortgage Leads

When a mortgage lead referral company provides you with a large number of referrals for a very low price, odds are those leads are probably outdated. You will have a higher closure rate if you pay more for fewer fresh leads than getting a lot of recycled leads for less money.

5) Mortgage Leads Return Policy

Before you sign on with a mortgage lead company, ask them about their return policy. Companies that don’t offer return policies should be avoided because in most cases their lists are filled with leads consisting of incorrect contact information.

6) Lead Filters

A lead filter is a vital feature that allows clients to essentially tell the referral business exactly who their target customer is so the company can provide the most accurate mortgage leads possible. If the business you’re considering doesn’t allow you the flexibility of customizing your target customer, then look elsewhere.

7) Customer Service

The hallmark of a reputable company is its customer service department. How they answer the phone and represent their company tells a lot about how the company is run and how it treats its customers. Before using a mortgage lead company, call its customer service number to see how fast they answer the phone and how they treat you.

8) Exclusive vs Non-Exclusive / Shared Mortgage Leads

Some referral businesses offer their clients the opportunity to purchase exclusive mortgage leads at a premium price. This will ensure that only you gain access to those particular leads. If the company only deals in non-exclusive leads, then you can expect those leads to be sold anywhere from three to five times on average.

9) Online Reputation

The Internet makes it quick and easy to check the status of any mortgage lead company’s online reputation. It is always good practice to see what the online world is saying about a company before you go all-in with it. Check review sites to see what past customers have to say. Look up the company’s rating with the Better Business Bureau. Look at its Facebook page to see how it interacts with its followers. Anything you learn will help solidify your final decision.

10) Live Transfer Mortgage Leads

Find out how the referral business transfers its mortgage leads to you. Ideally, you will want to try and work with a company that utilizes live transfers of leads, as often as possible. A live transfer allows you to speak to the lead at exactly the moment when they’re ready to act, thus keeping your competitors at bay and increasing your opportunity for closing the deal.

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How to Make Sure the Mortgage Leads You Get Are the Ones You Need

1) No Referral Business Can Guarantee 100% Closure Rates

2) Lead Pricing

3) The Actual Mortgage Leads

4) Quality vs Quantity of Mortgage Leads

5) Mortgage Leads Return Policy

6) Lead Filters

7) Customer Service

8) Exclusive vs Non-Exclusive / Shared Mortgage Leads

9) Online Reputation

10) Live Transfer Mortgage Leads

Start making more
money today!

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How to Make Sure the Mortgage Leads You Get Are the Ones You Need

1) No Referral Business Can Guarantee 100% Closure Rates

2) Lead Pricing

3) The Actual Mortgage Leads

4) Quality vs Quantity of Mortgage Leads

5) Mortgage Leads Return Policy

6) Lead Filters

7) Customer Service

8) Exclusive vs Non-Exclusive / Shared Mortgage Leads

9) Online Reputation

10) Live Transfer Mortgage Leads

Start making more money today!

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