Mortgage leads can be bought in quite a few different varieties. And depending on which loan officer you ask, some are better than others.
If you buy leads in bulk, most likely you will be buying old or recycled leads.
Mortgage leads can also be bought by way of cherry picking, where you can actually view the lead before you purchase it. You can also see how many times it has been purchased by other loan officers.
Or, you can buy your leads “fresh,” or hot off the press.
All types of leads can have their benefits to loan officers, but it is very difficult to compete with fresh leads.
You won’t be hearing objections, such as:
“I did that months ago,” or “I closed that loan last week.”
Mortgage leads that are sold fresh, or in real time are delivered to your doorstep the second the potential customer hits the submit button on the on-line application.
If you are a loan officer or mortgage broker interested in the purchase of fresh leads, be sure you know where the lead provider is obtaining their leads from in order to assure their quality.
Look for the lead companies that obtain their leads through web sites that they own and operate on their own.
Steer clear of the mortgage lead companies that purchase their leads from third party vendors and than sell them to loan officers at a profit.
You never know how many times that third party vendor is selling those leads to other lead companies.
In the end, if it is quality that you are looking for, than give serious consideration to the purchase of fresh leads.