Don’t Buy Mortgage Leads Until You Know These 5 Secrets

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March 19, 2015 | By RGR Marketing Blog

Purchase High Quality Mortgage Every Time

Purchasing mortgage leads can be a key part of any mortgage originator’s sales strategy. That said, all lead generation partners are not created equally, and the quality of leads can vary considerably from one provider to the next.

If you’re considering purchasing leads for your mortgage business, then you owe it to yourself to do a bit of research first. Invest wisely, and you’ll find purchased leads to be a smart way to allocate your hard-earned marketing dollars. Choose poorly, and you may end up regretting it.

Here are five secrets that every mortgage originator should know before investing in mortgage leads.

Investigate the Mortgage Leads Source

There are many legitimate lead providers out there, but there are also some whose business practices leave something to be desired. So how can you tell the difference?

For starters, it’s a good idea to check potential lead partners’ Better Business Bureau ratings. If they’ve earned an “A” from the BBB, it’s a good indicator that they conduct their business in an ethical and transparent manner.

It’s also a smart idea to check around with your peers in the mortgage industry. See what their experiences have been like. If they’ve been treated well and purchased leads that ended up converting well, it’s an encouraging sign.

Buy Direct When You Purchase Mortgage Leads

You may want to ask potential lead generation partners how their leads are generated. Some companies have proprietary processes for generating their own high-quality leads, while others are simply “middlemen,” purchasing leads from actual lead generation firms, marking them up, and selling them to as many takers as they can find.

Ideally, you’ll want to cut out the intermediary and deal directly with the lead generation firm. After all -- why pay extra when you don’t have to?

Customer Service Matters When Buying Mortgage Leads

You might reason that customer service isn’t that big a deal in the mortgage lead generation business. Once you have the leads, you’re dealing mainly with them, and as long as they’re delivered on time, you might not need to spend much time interfacing with the source of your leads.

But what if things don’t go quite as you had planned? If you end up disappointed with the quality of your leads, or find yourself in need of some extra assistance, you’ll definitely want to be able to get in touch with your mortgage leads provider. It sounds simple enough, but sometimes it’s easier said than done.

Pay attention to the level of customer service you receive when inquiring about purchasing leads. If it’s top-notch, you’re probably dealing with a solid partner. If not, you may want to look elsewhere.

With Purchased Mortgage Leads, Exclusivity Costs Extra -- But It Can Be Worth It

When purchasing quality mortgage leads, you want to make sure you’re getting what you pay for. Exclusive leads tend to be more expensive, but they’re also easier to close because your sales representatives won’t be competing with reps from all the other mortgage lenders. Shared leads require fast and decisive action to make them worthwhile, but they’re less costly.

You’ll want to fine-tune your lead portfolio to yield respectable close rates without stretching your marketing budget too far. In order to do that, you’ll need to know exactly what you’re paying for. Make sure your lead provider is forthcoming about whether you’re purchasing shared or exclusive mortgage leads.

What’s the Return Policy?

If you end up being less than satisfied with the quality of your purchased mortgage leads, you’ll want to have some sort of recourse. Most reputable lead providers offer fairly liberal return policies, because they’re confident that their leads will hold up to scrutiny. If your lead provider is cagey about returns, however, it could be that they’re expecting a lot of them. Best to proceed with caution.

[Photo Via: Demand]

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Purchase High Quality Mortgage Every Time

Investigate the Mortgage Leads Source

Buy Direct When You Purchase Mortgage Leads

Customer Service Matters When Buying Mortgage Leads

With Purchased Mortgage Leads, Exclusivity Costs Extra -- But It Can Be Worth It

What’s the Return Policy?

Start making more
money today!

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Purchase High Quality Mortgage Every Time

Investigate the Mortgage Leads Source

Buy Direct When You Purchase Mortgage Leads

Customer Service Matters When Buying Mortgage Leads

With Purchased Mortgage Leads, Exclusivity Costs Extra -- But It Can Be Worth It

What’s the Return Policy?

Start making more money today!

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