mortgage lead generation system
What determines what percentage of mortgage leads
will close into sales? Well, most of that lies on you, the mortgage broker.
Some brokers are better salesmen than others. Other brokers have access to more
funding options and better rates. Other brokers are just darn good at what they
do. The other half of the mortgage lead equation is your mortgage lead source.
Do you know where your mortgage leads are coming from? Does your lead source
tell you, SPECIFICALLY, where the mortgage leads are coming from? In many if
not most cases, no, the brokers do not know where the leads are coming from
and the lead companies are not really all that willing to face up to where exactly
the leads originated. If you have a good lead source that is getting you fresh
mortgage leads which are less than 24 hours old and are only being sold once
or twice, you should do pretty well with them. Some mortgage lead companies
will sell an "exclusive" lead many times over and that premium paid
for the "exclusive lead" goes right down the drain. Do some research,
ask good questions, and start of with a small batch of 20 or 30 leads to see
how they go.
Looking for mortgage leads? Do you even understand what mortgage leads are?
We have come across many brokers who honestly think that most mortgage leads
should turn into easy sales. These are unfortunately the same people who probably
became mortgage brokers because they heard it was a cheap and easy way to make
a lot of money. Not all mortgage leads turn into sales. In fact, you can normally
expect to close anywhere from 5% to 30% of the leads that you buy.
