5 Things to Consider When Buying Mortgage Leads

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September 9, 2014 | By RGR Marketing Blog

Getting the Most From Your Mortgage Marketing Dollars

Many in the mortgage industry are aware that purchasing leads can be vital part of any mortgage business’s marketing strategy. That said, there are a lot of different options available to those in the market, actively looking to buy high quality mortgage leads. So what exactly should mortgage professionals who are considering purchasing leads consider, before they settle on a lead generation partner?

Cost of the Mortgage Leads

Obviously, pricing is going to be a concern for businesses that are on a budget. Some lead development companies have minimum purchases, so those who are looking to test the waters on a limited budget will need to find a company willing to work with their numbers.

Quality of Service Provided by the Lead Gen Company

If a lead generation company can’t be bothered to answer questions before the sale, then chances are excellent that they’ll be half as responsive after the deal is done. Always be sure to choose a lead generation partner that offers excellent client care from the get-go. Being able to speak with a live representative shouldn’t take an act of congress – after all, you’re a paying client, and the lead gen company should be taking good care of your business.

Mortgage Lead Gen Company Reputation

Before choosing a mortgage lead supplier, ask around about their reputation. It may be that a friend or colleague has dealt with them before, and has two cents they’d like to add to your decision-making process. If you don’t know anyone who has experience dealing with the lead generation partner you’re considering, do some research on the Internet. How are they rated by the BBB? Do they have any fraud complaints? What are your peers saying in industry forums? If everything checks out, then you’re probably dealing with a reputable firm. If not, be sure to proceed with caution.

Are the Mortgage Leads High Quality?

Those with limited marketing budgets may look at bottom-dollar leads and see a great bargain, but there’s probably a reason those leads can be purchased so cheaply. They may have been recycled more times than you can count, and their closure ratio probably won’t be very impressive. Sure – pricier leads may cost more, but they’re likely to have better odds of closing.

In the end, you’ll probably want to diversify your lead portfolio with some top-quality leads for your best closers, plenty of midgrade leads to keep your sales team busy and productive, and perhaps some inexpensive leads to let new employees cut their teeth on.

Exclusivity: Are the Mortgage Leads Exclusive or Shared?

Exclusive leads are those leads that are sold only to one buyer. Shared leads, as you’ve probably intuited, are purchased by several buyers at once. With shared leads, the competition is higher, but the prices tend to be lower. With exclusive leads, it’s easier to get your prospects to focus on doing business with your company and yours alone, but the cost will be higher per lead.

Shared leads can be a great opportunity, but time is of the essence, and your sales team had better be on point if you’re expecting them to beat out the competition. Exclusive leads give you a bit more time to contact the client, but don’t wait too long; your lead generation partner may not be the only one to which these prospects have submitted their information.

[Photo Credit: Canadian Pacific]

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Getting the Most From Your Mortgage Marketing Dollars

Cost of the Mortgage Leads

Quality of Service Provided by the Lead Gen Company

Mortgage Lead Gen Company Reputation

Are the Mortgage Leads High Quality?

Exclusivity: Are the Mortgage Leads Exclusive or Shared?

Start making more
money today!

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Getting the Most From Your Mortgage Marketing Dollars

Cost of the Mortgage Leads

Quality of Service Provided by the Lead Gen Company

Mortgage Lead Gen Company Reputation

Are the Mortgage Leads High Quality?

Exclusivity: Are the Mortgage Leads Exclusive or Shared?

Start making more money today!

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