Quality Mortgage Leads
Quality Mortgage Leads
Keeping your loan officers supplied with quality mortgage leads can be the quickest way to increase revenue and take your business to the next level. You can separate mortgage leads into several different categories but three main ones stand out above the rest, internet mortgage leads, telemarketing mortgage leads and direct mail mortgage leads. Trying to compare these can be difficult because it depends on the type of business model you are running.
Internet Leads
Internet mortgage leads are better implemented in mortgage offices that have many loan officers to handle a large numbers of leads. This is because the closing ratio is around 5% so the LO has to spend more time on the phone and burn through 100 internet mortgage leads just to fund 5 deals.
Direct Mail Marketing
Direct mail campaigns aka mailers are different altogether.When sending out direct mortgage mailers you can expect around .1% return. Now this might sound like a waste of time, the average mailer campaign is around 25,000 records and above. So the price per qualified lead can actually render a high return on investment.
Quality Mortgage Leads
Telemarketing Mortgage Leads
Top quality mortgage leads are generated from telemarketing. This is by far the most expensive way to generate mortgage leads because it requires a highly trained telemarketer to generate what’s known as a mini 10-03 (mini ten 0 three), which is basically a full application minus the social security and date of birth and this only reason this information is missing is because the FTC has strict regulations against collecting those particular details via telemarketing.
Finding out the best solution for you can and will cost money but it will also pay off. Many established mortgage companies end up using a diverse mix up of all three of these tactics to generate quality mortgage leads.
Category: Free Mortgage Leads
