“I'm at about 20% closure rate right now, and still have more leads coming. Very pleased so far”
“..exclusive internet leads really seems to be the best match for us to close more deals this month...”
“After this experience with exclusive leads we will never go back to non exclusive leads ever again”
Getting the most from Internet Generated Exclusive Mortgage Leads
When purchasing mortgage leads online the number one concern of most buyers is the closure ratio of the leads themselves. Most buyers worry that the potential is there for them to spend thousands of dollars on leads, and never actually close a loan. This is a very valid concern and every one buying mortgage leads should really look at this as a very real possibility. However, over the past 6 years we have developed techniques to help show even the most novice of loan officers how to close more loans with our leads.
Most loan officers and brokers now a days have at least one horrible experience with a lead company or the "leads" that they provide. That's because the leads today are no longer exclusive applications, like we originated, they are now data sold and resold, sometimes hundreds of times. Most exclusive leads are sold three weeks to two months after you receive the lead as an "aged" lead to up to four other brokers, and that is assuming that the company you purchased the lead from was the original lead producer.
What we typically see is a lead is produced through SPAM or PPC with enticements, that lead is than sold to three or four lead brokers, who than sell that lead to three or four brokers themselves. That same lead is than sold again as aged, and than again by those lead brokers as "data" a few months later. At the 6 month point they themselves will than respam the borrower to create a new lead. It's a bad unproductive cycle.
We hope to give you a bit of information on internet generation and how to work both the leads you may purchase through us or leads purchased through other lead companies that you may be using to help increase your closure ratios. Leads are all about numbers, but it's all about the right numbers.
Mortgage Leads: There is a difference
There is a very big difference with Exclusive mortgage leads when compared to non exclusive mortgage leads. We have written a great tutorial Exclusive vs non exclusive mortgage leads that is a must read for anyone weighing the cost and competition differences between the two. For the purpose of this guide we will provide information primarily on working and closing our exclusive mortgage leads, however these techniques can be used across the board.
Next: The Steps To Closing Mortgage Loans
