How To Choose The Best Mortgage Leads? - part 1

by Finn Jensen

When it comes to trading mortgage leads, there are a lot of good companies out there for you to study, and many roads to travel down when considering which lead type will work best for you. Researching lead companies is an essential aspect when deciding to invest in one, but let's be straightforward with each other; we really don't know what kind of mortgage leads we are getting until we begin to buy them.
Starting out as a loan officer I bought my leads in bulk, fresh and with a live transfer. I would take $100 of my hard earned money and purchase about fifty leads at $2 each. I know that you get what you pay for, and my goal was to close two at the most, and at the very least one. Sometimes it worked and sometimes not. The problem was that I had the feeling of working harder instead of smarter.

Then I tried to buy real time leads, or fresh leads. I would take that same $100 and get roughly three to five fresh leads consisting of purchase leads and refinance leads. I would set up a filter before hand: specific to state, type of loan, credit, ltv, loan amount and so on. Automatically when a lead came in, matching my filter, it would be stream lined straight to my email account, only about ten minutes old. I had success with this approach.

The other kind of lead I decided to try out was the live transfer lead. I believed this to be an amazing concept to increase my applications. Mostly I just sat at my desk, waiting for the lead company to transmit customers to me by phone. The problem was that there was no guarantee that I was there to pick up the phone. If I stepped away from my desk the call would end up in my voice mailbox, or the possible customer would hang up. And again I felt as though I was working harder instead of working smarter.

Read the end of
How To Choose The Best Mortgage Leads?

---

Related Mortgage Lead Articles: Mortgage Leads, You Get What You Pay For If you decide to buy mortgage leads from a lead company, make sure you do your research. Research is the key. Real Time Mortgage Leads Real time mortgage leads or fresh leads are for loan officers looking for quality in a lead, as opposed to buying quantity, otherwise known as buying in bulk. Buying Mortgage Leads, Three Things To Consider Three things to consider when buying a mortgage lead. Mortgage Leads, Good Return Policy Because you work hard for your money, a good return policy would consist of full refunds on mortgage leads where the contact information is inaccurate, the phone number is not in service, or the person has already closed on their loan. 7 Cheap And Easy Ways To Generate Mortgage Leads Cheap methods to generate mortgage leads for a mortgage loan officer.

Related Mortgage Lead Questions: Other resources for Mortgage Lead Mortgage lead source? looking for a good one!? read answers... Do mortgage lead Companies have to be licensed? Do companies that provide mortgage leads have state (mortgage broker) licensing requirements? I've seen some companies such as Loanapp.com that have the disclosures in their footer other companies such as clientshop.com do not have any such disclosures. The curious thing is that Internet Brands owns both companies. read answers... Live transfer mortgage lead? read answers... Are there any reliable mortgage lead companies that allow you to cherry-pick and pay for individual leads? I am going to work as a loan originator for a small company but I am having trouble finding potential borrowers. I thought leads would get me off to a good start until I make better contacts. I am young and unexperienced and this is my first loan/mortgage related job, so I need as much advice as possible. Please help!!! read answers... Looking for a good mortgage lead CO. Florida leads Busn. has been slow for myself.Thanks Jhn? read answers...

Back from Mortgage Lead Articles
to California Mortgage Articles Directory