The Key to Getting Great Mortgage Leads

The housing market is continuing to improve and a large number of renters are looking to jump into the real estate game. The average home buyer will have to finance their purchase because they likely only have enough money for a down payment.

Mortgage companies know that this is their target customer base. Having access to these leads is invaluable, as those who are actively looking to finance their home will likely close on a loan within a few weeks. While many run-of-the-mill lead generation companies offer mortgage leads, your chance of closing most of them can be very slim.

As an innovative direct mail lead generation company, InboundProspect suggests that the key to getting great mortgage leads is to make sure they are exclusive, and make sure that they are qualified by targeting a specific customer base.

The Importance of Exclusive Leads

Most third party lead generation companies sell leads not just to one mortgage lender, but to multiple lenders all at once. Many times, these leads are recycled from earlier in the year just so the company can fulfill its promise.

When leads have been given to more than one lender, the consumer will likely get multiple calls within a matter of hours or days. The lead is then effectively burned because either someone has already sold them on their mortgage product or the consumer becomes disgruntled with the process and decides to find mortgage options on their own.

Exclusive mortgage leads are the best leads because only one provider will receive them.

Consider the Method of Obtaining Leads

InboundProspect also stresses the importance of becoming familiar with the type of lead generation tactics a company uses.

A great example of a poor tactic is list purchasing. Many third party lead generators purchase lists of phone numbers and then resell them at highly inflated rates. These lists are random at best, and many of the phone numbers will likely be disconnected or incorrect.

Direct mail lead generation is the most effective method of gathering quality mortgage leads. We use this method as it allows us to reach directly targeted leads that are truly interested in mortgages. This results in less wasted time on random leads that may not be either interested or qualified.

Pay For Performance Means a Higher Return on Investment

Finally, one of the key factors in obtaining quality leads is the system implemented for payment.

Many lead generation companies hand over lists when payment has been made and never speak with you again. Working in this fashion means you’ll blindly lose money on unproven and highly untrustworthy methods of doing business.

InboundProspect uses a Pay For Performance model because it creates a unique business partnership that benefits both parties. We work with you to determine your specific mortgage closing goals and analyze market statistics. Based off a complex algorithm, your lead closing goals are set and you only pay a pre-determined price per lead, resulting in higher returns and easier customer acquisition.
 

When looking for mortgage leads, you will get the best results when you receive exclusive, targeted leads, especially on a Pay For Performance basis. By combining these factors, you create a situation for your company in which you just can’t lose.