Three Great Ways For A Mortgage Broker To Generate Good Leads
When it comes to direct sales, there are usually quite a few different ways to get in front of people to talk to. Of course, you’ll always want to pick the quickest and easiest way possible, so that you make the most profit that you can with the least investment of your time and money. And therein lies the problem, which method do you choose, and are the people selling these plans and leads telling you the truth? Easier said than done in most cases. “When it comes to Mortgage Broker marketing and lead generation, not only are there many ways to get your own leads, there are also ways to buy leads as well.” Says Matthew Chan, local Mortgage Broker.
Sometimes The Leads You Generate On Your Own Are The Best
If you can find a real prolific realtor or two, and then camp out with them on all of their open houses, you can talk to a lot of people in the market for a home many of which haven’t started the loan process yet. It’s a common problem with real estate sales that 75% of the people stopping at open houses aren’t pre-qualified for a loan.
In those cases, it’s pretty easy for a knowledgeable loan broker to get names and phone numbers to start getting these people pre-approved for a loan. While they may not buy the home that they are touring at that particular time, they are looking, and once they’re pre-qualified and then pre-approved, that’s the first step.
If they aren’t interested in filling out the paperwork just yet, you can put them in a tickler file to call them in several months when they do expect to be ready. Some people are waiting for their credit to pass, another home to sell, an inheritance, or even a new job to get started buying their own home. By calling them at the right time, you show your interest and that you care, so you’re likely to get their business when they are ready.
There Are Online Lead Suppliers That Can Offer Plenty Of Pre-qualified Leads
There are online mortgage lead generators that can supply lots of local leads. However, some of them have higher quality leads than others. The best leads will come from some source that generates interest but then are individually called to verify their interest. These would be considered “phone verified” leads and are much more valuable, and more costly as well.
The first problem that many mortgage brokers will have with these leads are that many of them aren’t as good as advertised. The way to find out before you make a huge investment in leads is to go online and look at the client reviews for the particular company that is selling the leads.
It should be possible to verify that the reviews are real, if not, move on. Once you’re sure that the reviews are from real brokers such as yourself, read a bunch of them to see what their response rate was. The lead generation company should have a known average response rate, and they should offer to replace any dead numbers, or disconnected numbers as well.
The other huge problem that many salespeople have, not just mortgage brokers, is they don’t like to call up people on the phone and offer their services that way. They would much prefer talking to people in person instead. That’s fine, but calling pre-qualified phone leads can put you in front of far more people per hour than sitting at an open house.
Home Improvement And Remodeling Shows Can Be A Gold Mine
The demographics of the people that attend these shows, including Home and Garden Shows, Entrepreneur Shows, or pretty much anything home or business related, can be an excellent place to meet and talk to lots of people per hour.
Buying a home is the American dream, all you have to do as a mortgage broker is make sure you’re in a location where lots of the right demographics are walking by. Even if you can find a location at a food fair in the local park, that could be a great place, with lots of potential customers walking by.
Working a booth at a home show, or food fair is not for the timid, though. The people that will do well at such a show will have an angle, maybe a drawing, or spinning wheel for some cheap giveaways, but they’ll have to be aggressive and work both sides of the booth. Sitting in a chair and playing video games on your iPhone won’t generate any leads, and you’ll be upset over spending the entrance fee to the show.
Generating mortgage broker leads that sell isn’t as hard as it might sound, there are millions of people that want to buy homes; once you find them, they’re usually happy to fill out an application if they believe you can help them get what they want. Once they’re started on their way, it’s just a matter of doing your job and keeping them on track until the sale is finished so you can collect your well-earned commission.
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