Getting New Home Mortgage Leads – Internet mortgage leads aren’t the only option
Just a few years ago, Internet mortgage leads were among the best consumer-initiated leads available to any mortgage professional. These days, however, those potential customers are oversaturated. There is too much competition and overselling of this information by the people who run these websites, promotions and gimmicks, and offer to do almost anything just to get the user to sign up for their featured service.
Although the conversion rate has dropped significantly for Internet leads in the mortgage industry, they are still an excellent source of new business for other markets such as debt settlement, credit repair, or if you want to provide a semi-exclusive lead to a large team of loan officers. Don’t buy exclusive internet leads unless they first called from a call center and then transferred live directly to you. Unverified paper leads can end up costing you much more than they’re worth.
Telemarketed leads have at least some chance of being high quality. This is because it may happen that you call a borrower at the right day and time and bring up a topic that has been in the back of their mind for a while, and they are finally ready to talk about it with you and make a purchase decision – minds can change easily and quickly. However, after the Do Not Call list was created, it was difficult to reach many borrowers. Data can also be sold and resold in popular states, which means you may not be the only one who has called this person and they may be sick of all the phone calls.
Even if you purchase an exclusive lead, other call centers are very likely to contact the same data, whether domestic or foreign. When inquiring about call center leads, ask where the call center is located. That’s because most American homeowners will be less likely to respond when apparently foreign outside call centers ask for information.
If you are prospecting via telemarketing, you may want to ask your company about live transfer options or make sure you get a file of the conversation with the borrower so you can at least know the person was interested in learning more about a loan or refinancing a home mortgage [http://lasertargeted.com/mortgage/home-mortgage-refinancing-contract.html]. Otherwise, it is difficult to keep your provider in check regarding the validity of the mortgage loan [http://lasertargeted.com/mortgage/mortgage-lead-generation.html] are.
Direct mail programs are known to be effective in the long run, but you shouldn’t expect to see quick results or instant conversions. On average, a person needs to see the same ad 5-7 times to respond if they are interested. So even if the response is poor for your first two or three campaigns, wait, it will take a few more campaigns to get your marketing engine going! You should budget enough to run this ad for about three months before you see a return on your investment. This strategy is recommended for companies that have been doing it for a while. A direct mail strategy can also be one of the best strategies for niche markets such as reverse mail and BK lists.
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