Factors to Consider When Buying Mortgage Leads | Purchase Mortgage Leads From RGR Marketing

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June 24, 2014 | By RGR Marketing Blog

How to Assess the Quality of Purchased Mortgage Leads

If you’re in the mortgage business, then you’ve probably considered purchasing mortgage leads. When business is slow, mortgage leads can help bolster your business’s profitability. When the real estate market heats up, or when interest rates are low, a source of qualified leads can help your business strike while the iron is hot.

Here’s the thing: there are plenty of lead providers out there, and most claim to be the best in the business. So how do you decide which mortgage lead provider is worth investing in, and which ones you should stay away from?

Consider the Lead Generation Company’s Track Record

Generally speaking, lead generation companies that have been doing business for an extended period are a safer bet. This isn’t to imply that new movers in the market should be strictly avoided; some may be quite reputable, despite their recent arrival to the lead generation scene.

That said, dealing with a company that has a solid track record is generally a smart choice. In this day and age, word travels fast, and lead providers offering shoddy leads are less likely to stand the test of time.

Cost of Buying Leads

Keeping track of costs and maximizing ROI is part of running any successful business. Naturally, the cost of mortgage leads is going to be a chief consideration. You’ll also want to make sure your lead provider is willing to work within your budget; many providers have minimum deposit requirements.

Consider the Quality of Purchased Leads

Of course, cost shouldn’t be the only consideration when buying leads for your mortgage business. The quality of the leads is another crucial criterion. There are some bargains out there, but generally speaking, when it comes to mortgage leads, you get what you pay for.

Many mortgage businesses have found that paying a bit more for higher quality leads is a better use of both their marketing dollars and their time. Concentrating on fewer, higher quality leads can minimize work and maximize results.

Exclusive Vs. Shared Leads

Some lead companies provide exclusive mortgage leads, others sell shared leads, and many offer both. So what’s the difference?

Exclusive leads tend to be more expensive, because you and you alone are paying for them. The advantage is that you’re the only one who has them, so you won’t be calling the leads, only to find that your competitors have beaten you to the punch.

Shared leads tend to be cheaper, but you had better call them fast. You’ll split the cost of these leads with several of your competitors, who are just as eager to close deals as you are. So while the cost is less of a burden, it’s best to go into the call with full awareness of potential competition and plenty of confidence.

What Kind of Customer Service Does the Leads Company Offer?

Picture this: you’re interested in buying mortgage leads from Company Z, so you call them to get more details. You cooperate with their automated system, only to be transferred to another one, which finally offers to connect you with a sales rep. Scratch that… the voice mailbox of a sales rep… who takes three days to call you back.

This situation may be a bit exaggerated, but it illustrates an important point. If your potential lead generation company can’t be bothered to provide excellent customer service before the sale is complete, then how do you think they’ll respond if you’re less than satisfied with the leads you buy?

[Photo Via: Wikimedia Commons]

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How to Assess the Quality of Purchased Mortgage Leads

Consider the Lead Generation Company’s Track Record

Cost of Buying Leads

Consider the Quality of Purchased Leads

Exclusive Vs. Shared Leads

What Kind of Customer Service Does the Leads Company Offer?

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money today!

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How to Assess the Quality of Purchased Mortgage Leads

Consider the Lead Generation Company’s Track Record

Cost of Buying Leads

Consider the Quality of Purchased Leads

Exclusive Vs. Shared Leads

What Kind of Customer Service Does the Leads Company Offer?

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