All You Need To Know About Exclusive Mortgage Leads

Are you one of the thousands of loan officers considering buying mortgage leads buy aren’t sure yet? We’re going to give you the scoop on the sneaky truth behind mortgage leads and arm you with information that will help guide you in your search for answers.

Are Mortgage Leads a Scam?

Absolutely not! There are many reputable companies that provide a very real and quality product (mortgage lead) for loan officers. That being said, not every company is the same and not everyone selling leads has the same level of ethics or integrity. There are lead companies in the market place today that might not be providing a quality product so you’re going to have to do your due diligence when selecting a lead provider.

How Are The Mortgage Leads Generated?

There are many ways that a company can generate exclusive mortgage leads, and again this will differ from company to company. Some lead generating companies will use several of these techniques in their lead generation. The most popular methods are:

• Affiliate Program

• Newsletters – Website Advertising – Banners

• Search Engine Optimization and Search Engine Marketing

• Pay Per Click Advertising

• Email Marketing

• Affiliate Programs

What’s the difference from one lead company to another?

Just like in any industry that has many providers of a good or service, the same is true for the mortgage industry. There are some lead providers that are wonderful companies; providing great service, a good product, and keep a long list of satisfied customers. There are other less reputable companies that only care about generating a profit, and it’s usually pretty easy to distinguish one from another.

What’s the deal with exclusive leads versus non-exclusive leads?

Loan officers around the country are all in need of different kinds of leads. Some need refinance leads where as others need purchase leads. Some need specific credit criteria where as some loan officers are more flexible. The same is true with the exclusivity of the leads. Loan officers that want leads to be exclusive are usually in a position where they can (or are willing) to pay more money per lead. Other loan officers will be merely supplementing their pipeline with purchased leads so exclusivity isn’t as important.

How do I know if buying mortgage leads is right for me?

There can be several ways the buying mortgage leads can help a loan officer. First, buying mortgage leads can help increase the loan officers number of closed deals in a short time frame. This might help the loan officer meet another tier of commission, help earn a bonus, or just get them some more income in the near future. Secondly, purchasing mortgage leads can help a loan officer increase their follow up pipeline. These are leads that are likely to payoff in the medium to long term though a series of follow up efforts. Usually the leads in this category are non-exclusive leads and fairly cheap. Lastly, working with online mortgage leads always leaves the open possibility to generate repeat and/or referral business. This business is ideal over the longer term for any loan officer as it’s consistent reliable business usually with clients that know and like you.