Mortgage Leads for Sale: Cash in your cold calling for warmer opportunities
Purchasing mortgage leads for sale can be a cost-effective way for mortgage brokers and loan officers to acquire new customers without spending endless hours making cold calls. In theory, mortgage leads for sale provide immediate access to “warm” leads – a current supply of borrowers who have been pre-qualified and are interested in filing a new loan or refinancing their home. In reality, purchasing mortgage leads for sale may net you a list of “stale” or “dirty” leads – those who didn’t receive a timely response from the provider and have already filed a loan elsewhere, or those who are not qualified or not actively interested in applying for a loan.
The last thing you want to do is purchase a list of mortgage leads for sale that leads to unnecessary time spent calling people who are not happy to hear from you.
Clean vs. Dirty Leads
When making the decision to purchase mortgage leads for sale, it is best to look for a mortgage leads provider who will sell you only “clean” high-quality leads, and will replace or refund any “dirty” leads on your list. Try to find out how the mortgage leads provider acquires their leads. If they are generating most of their new leads through unsolicited email campaigns, they are not likely to get warm or targeted leads. For this reason, finding a provider who offers “clean” mortgage leads for sale can be challenging.
Buy Quality Leads Lists
Your goal in purchasing mortgage leads for sale is to get immediate access to potentially high-closing leads in a timely manner, so that you reach them while they are still “warm.” How do you ensure this is what you get? Before purchasing mortgage leads for sale, you can ask your mortgage leads provider the following questions:
• What methods do you use to acquire new customers?
• How do you screen or pre-qualify your new customers?
• How quickly do you respond to lead inquiries?
• How promptly will you deliver your pre-qualified leads to me?
• Will you refund or replace any “dirty” leads from the list you sell me?
Exclusive vs. Non-exclusive Leads
If mortgage leads for sale are to be truly effective, you will need to purchase primarily exclusive leads.
You don’t want to be paying for leads that will also be sold to other mortgage brokers or loan officers and run the risk of competing for your lead’s business. Before you buy, make sure that the mortgage leads for sale by your provider are exclusive…to you!
No Junk Fees
Some mortgage leads providers will try to charge you “set up” fees before providing their mortgage leads for sale. Or, they will require you to sign a long-term contract. A long-term contract may lock you into an arrangement with a provider who sends you “dirty” lists over a time period with no option out. The better mortgage leads providers will not charge you any “set up” fees or “junk fees,” and will offer a minimum order option rather than a long-term contract that may tie up your time and money.