Finance Articles

Mortgage Leads, Three Things You Need to Consider

The time comes for all mortgage brokers and loan officers to consider taking some of their hard earned money and spending it on mortgage leads.

After all, mortgage leads are the name of the game, no matter where they come from.

If the time is right for you, it is important to do your homework. Remember, you are testing the waters, not diving right in. Look into as many mortgage lead companies as you can before you decide which one is best for you.

Just as important is the mortgage lead itself, while doing your research, consider these three things about the type of mortgage lead you will be purchasing.

Where did the mortgage lead come from?

Speak with a sales representative from the mortgage lead company to determine where the mortgage leads are being generated from. Mortgage lead companies use different methods for obtaining their mortgage leads. Some of the more common ways mortgage lead companies generate mortgage leads is through e-mail campaigns, advertisements on search engines, directing potential customers to web sites that they own, and purchasing mortgage leads in bulk from other companies.

Is the mortgage lead fresh or recycled?

Some mortgage lead companies sell their mortgage leads in what they call ?real time,? which means the mortgage leads are fresh, usually no more than a few hours to a day old.

A recycled mortgage lead, is a mortgage lead that a mortgage lead company will sell multiple times, or they are buying their mortgage leads in bulk at a cheap price and reselling them for a profit to loan officers.

Not to say one is better than the other, the reason being, the difference in pricing.

A fresh mortgage lead will undoubtedly cost more than a recycled mortgage lead. It all depends on what you are looking for, quality or quantity.

If the mortgage lead is bad, will you get your money back?

Make sure you are 100% confident that the mortgage lead company you are dealing with has a fair and reasonable return policy. Most mortgage lead companies have software in place, or verify the mortgage lead before they sell it to weed out what they consider to be fake, or bogus leads. But even with these barriers in place, it is not unusual for one to slip through the cracks. If you receive a bogus mortgage lead, there is no reason why you shouldn?t get your money back.

Jay Conners has more than seventeen years of experience in the banking and Mortgage Industry. He is the owner of http://www.jconners.com, a mortgage marketing and resource site for loan officers. He is also the owner of http://www.callprospect.com, a mortgage lead company, specializing in real time mortgage leads.

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