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Mortgage Leads - The ROI |
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Mortgage Leads - Are they a good mortgage marketing tool?
Mortgage Leads are and will always be key in any mortgage
marketing plan. The biggest issue with buying mortgage leads is
that the buyer (Mortgage Brokers and Loan Officers) will spend
$100.00 and expect a deal and no time in working that deal or
leads. You have to expect the following when buying mortgage
leads:
1. You will not reach the borrower by phone if you only call 1-3
times. If the borrower does not call back you should not
consider this to be a bad lead.
2. Expect to always get 3 bad leads out of every 10 mortgage
leads - as long as your mortgage lead company has a solid return
policy you have only lost time - and I can assure you every
person values time, but not as much as money.
3. The |
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Untitled Document
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potential borrower has spoken to other mortgage
companies, probably a few before even submitting information
online for a Free Quote. So when you call a borrower and they
say "I have been contacted by several people" - then that is
your chance to sell - not say ok let me get off the phone and
request a refund for this lead.
Research shows that online users submit their information to 2
or 3 mortgage websites when shopping for a quote online.
Combined with shopping in their local market the person will
always exaggerate with the common, "I have been called by 20
people", when it is really been FIVE.
Number of Leads Purchased: 50 Cost Per Lead Purchased: 15.00
Total Lead Investment: $750
Estimate Percentage of Leads Closed: 5% Average Amount of
Mortgage Closed: $185000 |
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Untitled Document
Interest only mortgages have been very popular, especially amongst first time buyers. But the FSA has now introduced restrictions. This article explains.
At this stage, the Governments Homebuy mortgage scheme for firsttime buyers seems a waste of time. This article explains why.
New regulations concerning larger properties in multiple occupation may make a buy to let mortgage a viable proposition. The end result of this should improve the standard of such properties.
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