Mortgage prospects, choosing the best option

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Moments before the crescent closed into a ring of fire.

Mortgage prospects, choosing the best option

When it comes to buying mortgage leads, there are many good companies you can turn to and many options you can consider to determine what type of lead is best for you.

During my work as a financial advisor, I have dealt with a significant number of companies offering mortgage loans. Along the way, I bought leads in bulk, bought them fresh, and bought them live.

Researching leading companies is an important aspect when deciding to invest in a company, but let’s be honest with ourselves: we don’t really know what we’re going to get until we start buying them.

When I was buying leads in bulk, I took $100 of my hard earned money, found what I thought was the best lead search site, and got about fifty leads for $2 each.

Now I know you get what you pay for and my goal was to complete at most two and at least one. Over the years, this approach has sometimes paid off, but I felt like I was working harder, not smarter.

Another approach I tried was buying “live leads” or “new leads.” I would take that same hard-earned $100 and get three to five new leads, consisting of purchase and refinance leads.

I didn’t select these leads, I set a filter beforehand. The filter is specific to condition, loan type, credit score, LTV, loan amount, etc.

When a lead came in that matched my filter, it was sent directly to my email account and took about ten minutes. I had great success in these avenues, but still kept my options open.

The second type of track I wanted to try was a live transfer track. I think it’s a great concept and a very effective way to generate leads and increase inquiries.