Tips For The Cut Throat Mortgage Market

Tips For The Cut Throat Mortgage Market



Tips For the​ Cut-Throat Mortgage Market
The mortgage industry is​ one that is​ witness to​ vicious competition .​
Nowadays mortgage brokers and real estate agents are always on​ the​ alert to​ catch any business opportunities that may come their way and increase their own bottom line .​
One shortcut that they employ in​ achieving this aim is​ buying mortgage leads .​
Mortgage leads are a​ service you​ purchase from a​ reputable company that has done the​ background work for you​ .​
You pay them a​ fee and they provide you​ with leads that will get you​ closer to​ a​ closed mortgage deal .​
This means commission for the​ agent and commission for the​ mortgage broker .​
At the​ same time,​ as​ a​ mortgage customer,​ you​ must focus on​ get a​ bunch of​ loan or​ mortgage quotes to​ get the​ best deal in​ the​ market .​
Make your real estate business grow fast by buying valuable mortgage leads .​
Before you​ start buying some leads,​ here are a​ few tips you​ need to​ know to​ make sure your money is​ being used wisely.
1) Shop around .​
There are just as​ many lead brokers out there as​ there are mortgage companies .​
And they all regard you​ as​ a​ potential customer.
2) Look for a​ company that has no start up costs and no long-term obligations .​
You want to​ make your purchase and be done with it.
3) Understand that leads are going to​ be sold in​ blocks,​ generally you​ will purchase anywhere from 25 to​ 1000 leads depending on​ how big your business is.
4) Various kinds of​ leads are available and they can be confusing for a​ first-time buyer .​
There may be a​ possibility you​ are sharing your leads with another broker depending on​ what kind of​ leads you​ buy .​
The 4 main lead types are:
* Exclusive Leads: These are leads that are only sold once,​ and sold to​ you.
* Shared Exclusive Leads: These are leads that are generally sold only about two times .​
The lead is​ shared with another broker,​ but only by one other person .​
While shopping for leads,​ it​ is​ a​ good idea to​ ask about how often shared exclusive leads are sold.
* Shared Leads: These are leads that are shared by as​ many as​ 4 or​ 5 other brokers,​ depending on​ where you​ get them from.
* Live Leads: These are leads that you​ can get in​ touch with as​ soon as​ you​ purchase them .​
Phone contact is​ possible the​ instant that your payment is​ processed.
5) Your cost per lead will be determined by the​ lead type you​ buy .​
The more exclusive your lead,​ the​ higher your price is​ going to​ be .​
Leads can be anywhere from $30-$50 each,​ so keep this in​ mind when determining what kind of​ package you​ want,​ and how exclusive the​ lead you​ want.
6) you​ will want your leads to​ be tele-verified before you​ can use them .​
That means you​ are not making cold calls,​ the​ leads you​ will be receiving have been verified by phone that their information is​ correct,​ and they have expressed an​ interest in​ loan services.
7) Make sure that the​ firm that you​ purchase your leads from will replace leads if​ they are not good leads .​
Don't neglect to​ ask about their policy for lead replacement.




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