How to Successfully Convert the Mortgage Leads You Purchase

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March 26, 2015 | By RGR Marketing Blog

Get More When You Buy Quality Mortgage Leads

Purchasing good quality mortgage leads from a reputable provider can certainly fill up your mortgage sales pipeline, but you have to actually convert those leads into sales if you hope to impact your business’s profitability. Low conversion rates got you down? Then use this tips to raise your game and give your mortgage business’s bottom line a healthy boost.

Start With Quality Mortgage Leads

You could have the best sales team in the business, but if you’re dealing with sub-par leads, you’re going to have a tough time moving the needle on your conversion rates. How can you tell if you’re getting quality mortgage leads?

Well, first you need to start with a reputable provider. There are plenty of mortgage lead generation companies out there, but some are definitely a cut above the rest. Check your lead provider’s status with the Better Business Bureau. Inquire with colleagues and industry peers about their experiences with different lead providers. Pay attention to the quality of customer service you receive, and definitely track your conversion rates.

Don’t Hesitate When You Purchase Mortgage Leads

If you’re purchasing shared leads, then your sales team had better jump on those leads as soon as they arrive. Shared mortgage leads can offer an excellent value for hungry mortgage originators, but competition is fierce. If your sales team is sitting on shared leads, even for a few hours, you’re probably losing potential clients to competitors who are quicker on the draw.

Even exclusive leads should be acted upon at the earliest possible opportunity. They might not have been shared with other mortgage businesses by the lead generator, but there’s nothing to stop them from inquiring with other mortgage companies or lead providers online.

Studies have shown that the first contact is nearly 2.5 times more likely to close the deal, so don’t hesitate on your purchased mortgage leads.

Buying Mortgage Leads? Remember: Tenacity Pays

Did you know that as many as half of all mortgage leads are not contacted a second time? “That better not be my sales team,” we hear you saying. Hopefully your salespeople are more tenacious than that, but if they’re not, then it’s time to take your salespeople back to sales school.

While the first business to contact a prospect has a much higher chance of closing the deal, chances are good that the first call won’t result in a contact. Studies have shown that more than 90% of converted leads are reached by the sixth call. The moral of this story is that being the first mortgage originator to call isn’t enough; you have to keep trying until you actually make contact with the prospect.

Diminishing Returns on Mortgage Leads

At some point, leads get stale. If a prospect cannot be contacted by the seventh attempt, the chances for conversion fall to just 7%. We’re not suggesting you throw those leads away… far from it. They’re a great way to give green salespeople low-risk training opportunities that could turn into sales, and diligent pros can work them during downtime.

The mortgage sales game is a numbers game, after all. But when there are fresher leads to be had, put the old leads on the back burner to ensure that your sales team’s time is spent efficiently.

[Photo Credit: KV Mortgages]

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Get More When You Buy Quality Mortgage Leads

Start With Quality Mortgage Leads

Don’t Hesitate When You Purchase Mortgage Leads

Buying Mortgage Leads? Remember: Tenacity Pays

Diminishing Returns on Mortgage Leads

Start making more
money today!

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Get More When You Buy Quality Mortgage Leads

Start With Quality Mortgage Leads

Don’t Hesitate When You Purchase Mortgage Leads

Buying Mortgage Leads? Remember: Tenacity Pays

Diminishing Returns on Mortgage Leads

Start making more money today!

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