Purchasing Real Time Mortgage Leads
Buying Real Time Mortgage Leads
Whether you have a new, active mortgage lead or you are looking to buy a new one, the beginning of the offer chain is choosing how you want to purchase these leads. The most common way is by buying them from your lender. These leads can then be sold for profit or used as a lead generation tool for current customers. When purchasing these leads, prices vary from bank to bank, so there is no universal guide that we could provide here. You should contact your lender and ask what kind of pricing they accept for their own product; however, there are some general methods that we use with our company’s experience.
The first step is researching the companies that make up the lead that you are purchasing. You need to know what is in the lead and how much it costs to buy; this will determine your overall price. The next step is connecting with the person who will be handling your lead. This is usually a loan officer or mortgage processor, but could be a mortgage broker or other individual as well. They will explain what they receive from their company, how it differs from other companies, and any customization they can do on their product to make it fit your needs.
Now that you have a general idea of what you’re getting, it’s time to find out if the leads are available for purchase. The loan officer will let you know how many leads they have available and whether they can be sold to you at the time. Some companies will sell the leads to anyone, while others will only sell to their used clients. The leads that are available can be directly purchase off a company’s website or sold as list of names and details. After determining how many leads you want, it’s time to get a price quote.
When receiving quotes for purchasing mortgage leads, a common tactic is to be quoted one price at first, then a much higher price after hearing our needs and asking more questions. This is usually done by companies that have bought the listing and then wants to sell them for more money than they paid for it. This is not allowed. When buying leads, the minimum purchase is four houses at a time. Depending on the company, they may sell them in batches of 25 to 50 at a time. At some companies you can’t always get as many as you want at once; however, if you buy more than four at once then each one will be discounted by 25%. However, companies usually don’t give a discount if you are buying more than 100 leads or so at a time.
When deciding on how much to pay for these leads, remember that there are no guarantees that any buyer will be able to sell them once they have them. This is still a business and you have to keep that in mind. How much you pay depends on the demand in your market and the number of other leads that are available. If your market is very competitive, then the price will be higher than if there are less buyers in your area. Other factors include how many other lead providers they have in their area, how many years they’ve been selling these leads and if they have a track record of reliable service.
If you’re looking for a mortgage lead provider for home loans, contact us at www.NMLSListingService.com . We provide a network of the top lead providers in the United States, allowing you to search for leads and compare pricing. If you need to convert your leads into customer sales then you can use our lead management service to follow-up with them while providing great customer service. [END ARTICLE]
Source: Business 2 Community Date: 08/30/13 Author: Steve Freidin Website: http://www.business2community.com/http://www.business2community.com/ Author Bio: Steve Freidin is President of the National Mortgage Listing Service (NMLS) since 1992 and a Certified Mortgage Professional (CMP) since 1985. He can be reached at steve@nmlslistingservice.com ; 888-219-4228; http://www.stevefreidin.com/ B2C Link: http://www.business2community.com/http://www.business2community.com/
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Conclusion
Buying mortgage leads has never been so easy. There is a multitude of options available to you and each one does the job well. Take the time to research each option, looking for testimonials, how long they have been in business and how many customers they have serviced. It's best to ask these questions when you are already familiar with the company, so you know exactly what you are getting into.
The most important thing to remember is that buying mortgage leads isn't your job alone. This can be a very fulfilling career if you choose the right company or person to work with.