Where to Find Qualified Mortgage Leads?
Posted on | April 21, 2011 | No Comments
According to Investopedia, a qualified lead is a potential customer who has expressed interest in a product or service and meets general buying criteria. For the mortgage professional, this is an individual who has taken a first step towards purchasing a home and has the means to purchase. But the question is often asked, how do I find them? After all, qualified mortgage leads aren’t walking with a sign around their neck saying “I’m looking to buy.”
There are however, methods to capture these types of leads. This article will show you the basics.
As the definition above stated, a prospect is deemed qualified after they’ve taken an initial step towards buying a home. A first step can be anything from initiating a phone call to filling out an application. The main point is that they’ve initiated contact.
It becomes your job to be the person who is contacted. In order for this to happen, you need to be in the right place at the right time. Take the time to understand how the average person looks for a mortgage. They often talk to their friends and ask for recommendations. They also do research and compare rates online. The web has made it easy for individuals to shop around. This has created opportunities for creative mortgage professionals to generate leads.
While the average person does their research, they’ll browse through many websites. As they browse, they read articles, contact companies, and communicate with peers. You’re job is to be a part of this buying process.
Solve Problems
Launch your own website (Wordpress.com makes this very cheap) and become a trusted source for information. You’ll become an authority by publishing quality content that addresses questions and problems for customers in the buying process. For example, If someone is trying to understand the benefit of FHA mortgages and you’re website provides information to answer their question, you’ll automatically build trust
However, having valuable information is not enough. You need to create a way for your readers to take that first step and contact you. Only then will a reader become a qualified mortgage lead.
Have Them Initiate First Contact
There are various ways to have prospects initiate first contact. A great way to start is with a simple contact form where you collect their name, address, and phone number.
Once you’ve created you’re contact form, make it your main focus to drive readers to the form. The best way to do this is with a “call to action.” In sales this is known as “closing,” At the end of all your articles ask your readers to contact you via your form. Many people make the mistake of assuming a reader will know what step to take next. Readers want to be led and it is your job to lead them to your form. The readers who contact you will be one step closer to becoming a qualified lead. It then becomes your job to determine whether they meet the buying criteria.
Hot Mortgage Leads – Act Sooner Than Later
Posted on | April 4, 2011 | No Comments
Each day in the mortgage industry is important. The hot mortgage lead you find today, could easily become your competitions in the snap of a finger.
Which is why it is very important that you act on any hot mortgage leads your receive as soon as possible. Leads do not good sitting in a drawer or file cabinet. They must be acted upon.
Here’s how the mind of a prospect usually works. They typically shop around and compare rates all over the web. In this time their information is collected by various sources in your industry.
If you receive a mortgage lead from a company, you can almost guarantee that this person’s information has been seen by various people. Which means that their contact information has been passed around.
The timing and “age” of the lead is critical. If you fail to act on the opportunity, two things can work against you. First, your competition can take your business away. Second, you are allowing the prospect to continue to look for different service providers. By letting a hot mortgage lead sit around, you are losing valuable business.
Top Mortgage Leads are supposed to be acted upon quickly. Make the difference in your business and be prompt in your response to mortgage prospects.
Finding Cheap Mortgage Leads That Convert
Posted on | April 4, 2011 | No Comments
As a mortgage professional, you might have thought about purchasing mortgage leads. Many of you have actually taken the steps to purchase leads only to experience bad results. There are methods to acquire cheap mortgage leads that actually become sales. Before you spend any more money, take the time to read these tips.
Sales leads are typically bought from businesses that focus on collecting information from interested parties. If you’re conducting business with a quality company, your mortgage leads are most likely generated via a mortgage application form.
These methods help to confirm that a lead is actually interested in purchasing a home. Their conversion rates are typically higher because they’re in the market to buy. Some people have reported conversion rates (percentage of people who buy) between 10%-30%.
If you’re in the market for cheap mortgage leads, you’ll need to dig harder to find quality. Sometimes you can take a creative approach and buy in bulk. Purchasing a large amount of leads will typically bring down the individual price, saving you more in the long term.
There are a few businesses that run promotions offering free leads based on the amount you purchase. These methods are great for saving cash if you buy in large quantities.
Next, make sure to evaluate the methods in which the prospects were generated. Are they actively looking to buy or is their information being collected from the yellow pages? Remember, the intention of the prospect makes a huge difference in the conversion rate.
Find out the age of the leads. Were they generated within 24 hours or less of your purchase? Focus on leads that are fresh because they’re more likely to buy.
Finally, monitor the conversion rates of the cheap leads you’ve purchased. You’ll notice a trend if many prospects don’t respond. Asking them for feedback will help you determine the quality of the business you’re purchasing from.
Implementing this advice with some careful observation will help you get cheap leads that become customers.
Tags: buying cheap mortgage leads > cheap mortgage lead > cheap mortgage leads