The Internet has revolutionized the way consumer's evaluate, compare and choose mortgage products and services. Every day more and more mortgage shoppers utilize the Internet to study and purchase home mortgages. As a mortgage broker you must recognize this industry shift and learn to utilize this tool. This brings us to the topic of this article, Internet Mortgage Leads.Each day thousands of mortgage seekers fill out forms on thousands of mortgage lead generation websites requesting more information on mortgage loans or quotes from mortgage lenders. These mortgage leads are made available to you by an array of internet mortgage lead generation brokers. The BIG question is, are these internet mortgage leads worth your effort and money? Will the return on investment be there? Careful consideration must be given to purchasing internet mortgage leads.
Quality Internet Mortgage Leads
What makes a quality internet mortgage lead? A lead that CLOSES. Not necessarily. We all know that not all leads will close. In fact if I was able to close between 8% and 14% of the mortgage leads I purchase on the internet, I would be happy. I consider a mortgage lead to be a high quality lead if it meets the following criteria:
The Lead is Accurate
One of the biggest challenges mortgage lead generation companies face is obtaining accurate data from users. No matter what type of technology a mortgage lead company claims to have, no company can completely stop users from entering inaccurate data. Companies will claim to have all sorts software to ensure more accurate data. Just make sure you can fairly return in contact info is incorrect.
The Mortgage Lead is a True Lead
What do I mean by a true lead? I consider a true lead to be a lead that was actually generated by someone that is truly interested in obtaining a mortgage. You have to be careful that the lead is not an ‘Incentivized Lead’. For those of you that aren’t familiar with this new term I will explain. Many websites today offer users incentives to fill out forms. In exchange for filling out these forms users are given points towards the purchase of merchandise or even money. Make sure you stay away from companies that have anything to do with incentive leads. These leads are worthless!
