Leads are also available on a highly selective level, where you can review the lead before you purchase it. You are also able to see how many times it’s been purchased in the past.

A great type of lead to buy is a “fresh” lead. While many different types of leads exist, fresh leads are some of the best to get. Leads that are “fresh” are purchased and generated in real time. Which means that once a client clicks on an application button on the web, you receive the lead instantly.

Fresh mortgage leads are a method of generating steady business. Here’s how these leads work.

1. You sign up for an account at a lead generation site of your choosing. Some accounts are free while others charge a fee. Make sure to evaluate the competition before you make your final choice.
2. You determine a set of criteria to filter only the types of leads you want. For example, if you’re only working with jumbo loans, you’ll set a minimum loan amount.
3. Once a leads with your criteria has filled out an application, you get an email telling you it’s ready.

There are some services that have you set a maximum quota of leads per week.  Once your quota is met, you stop receiving prospects until the next week. Other sites allow you to review the lead before you make the purchase decision and send you hundreds of leads to evaluate.

In theory, you could purchase hundreds of fresh leads from these companies; however, the most successful mortgage brokers I know, set filters to find exactly the types of leads they want. They set their criteria on exactly the customer they’re looking for. The result, a lower expense for leads and a higher closing ratio.

When you consider the purchase of fresh mortgage leads, make sure to understand where they’re being generated and how they’re being generated. Focus on companies that generate leads from websites they run. Be cautious of companies selling third-party leads that sell to brokers for profit. These types of companies and leads are difficult to trust, because it’s hard to determine how many times that lead is being sold.

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